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The S&P is down sharply today, brought on by Target missing EPS by about 50% of what was expected. Higher costs are taking their toll on consumers, and that is being seen in the largest company's earnings. From a technical perspective, all of the support levels have been chewed through, with 3927 being the line in the sand for the S&P (Close from last Thursday).
Check Out Our Daily Morning Express Research For Support & Resistance Levels!
The EIA Crude Oil Inventory report for all intents and purposes was bullish. Crude Oil had a draw and refinery utilization picked up. This means they are drawing crude to make product! The sell-off in the outside markets seem to be bringing Crude Oil with it.
Gold came off of the overnight lows, above $1800.
Treasuries are healthily responding higher, with 10 yr yields are down near 2.90%.
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