Stocks are edging lower this morning, following modest declines across the Atlantic.
S&P 500 futures are down about 0.2 percent, while most European indexes are falling by roughly 0.5 percent after the European Commission reduced its economic-growth forecast. Asia was modestly positive overnight.
The S&P 500 rose 0.33 percent yesterday, closing near the highs of the session, and is less than half a percent below its record peak from late last month. The market has been buoyed by improving economic data–especially on the manufacturing front–and as large amounts cash on the sidelines are put to work. Gains have been widely spread across most sectors and industry groups, but transportation stocks have led the charge and set a new all-time high yesterday.
— Option Monster