By Barbara Kollmeyer, MarketWatch
The Dow /zigman2/quotes/210598065/realtime DJIA +0.98% , S&P /zigman2/quotes/210599714/realtime SPX +0.47% and Nasdaq /zigman2/quotes/210598365/realtime COMP +0.08% are off to a soft start. See Market Snapshot for more.
The yield on 10-year Treasury notes /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +11.63% is hovering at 2.737%. The dollar /zigman2/quotes/210598269/delayed DXY -0.15% is up, while gold is down and crude is flat.
Europe stocks /zigman2/quotes/210599654/delayed XX:SXXP +1.68% fell as several Dutch banks tumbled on reports of another money-laundering scandal. The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +1.71% bucked that trend as the pound fell. In Asia, China stocks /zigman2/quotes/210598127/delayed CN:SHCOMP -1.15% got a lift from growth-target and stimulus news.
Our chart of the day , from Gains, Pains & Capital warns investors to buckle up after the S&P 500’s break below 2,800 on Monday. That’s because “the REAL sellers” are here and they are not quite done yet.
The blog post takes a look at a couple of technical factors. First, the relative strength indicator — a momentum indicator used to gauge overbought and oversold conditions — broke an uptrend line Monday. Meanwhile, another big chart indicator -- the moving average convergence/divergence — is pointing to sell. The last time this happened was December. Oops.
Gains, Pains & Capital
Chinese hackers have targeted at least 27 U.S. universities with the aim of stealing research about maritime technology, says a report in The Wall Street Journal, citing cybersecurity experts and U.S. officials.
Meanwhile, the White House has slammed as “disgraceful and abusive investigation into tired, false allegations” a probe by the Democratic-led House Judiciary Committee, whose chairman Jerrold Nadler on Monday sent document requests to 81 people with connections to POTUS.
Target /zigman2/quotes/207799045/composite TGT -0.26% and Kohl’s /zigman2/quotes/210414114/composite KSS +3.19% both delivered upbeat results and shares are higher. Ross Stores /zigman2/quotes/202639496/composite ROST +1.91% is due after the close.
As for data new-home sales ticked up in December. Read more about upcoming data in our our Economic Preview. Meanwhile, Boston Fed President Eric Rosengren, one of the central bank’s biggest hawks, says he’s backing a pause in interest-rate hikes that may last for ‘several’ meetings.
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