After being up as much as 38 points early in the day, the S&P 500 is beginning to give back some of the gains in late afternoon trading. With an hour left in trading the index was up 30 points, giving up a quarter of its gain from the high of the day.
As stocks begin to drift lower it has had an affect on other asset classes. Gold ($GLD) is at its low of the day, but remains higher by 1.6%. Even the Junk Bond ETF ($JNK) is sliding off its highs and is now up 1.5%.
I will update you after the close today on how the last hour shapes the rest of the week.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
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