“While it may seem that we have come far already, this is just the beginning of a lifetime.” – Sergey Brin
Futures are about as flat as they can be this morning, with the S&P 500 indicated to open up by 0.02% while the Nasdaq is down 0.02%. After the weakness to kick off the week, though, bulls will take it. Crude oil prices are slightly higher, but the real action is in treasuries, where the 10-year yield has dropped 6 basis points to 4.64%.
It was a rough night in Asia, as the Nikkei fell more than 3% while South Korea’s Kospi plunged over 5%. In Europe, trading is much quieter as the STOXX 600 is little changed, and the only notable country move is in France, where the CAC 40 is up 0.4%.
In the US today, it’s a quiet session data-wise as there are no economic reports on the calendar, leaving investors to focus on the Fed Minutes at 2 PM.
While it’s not necessarily a birthday for the company, today does mark the 22nd anniversary of Alphabet (GOOGL) trading as a public company. Despite some healthy skepticism toward the stock’s valuation, the stock rallied more than 18% on its first day of trading and was up over 25% within a week.
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