The top three things occupying foreign markets this morning and weighing on the euro are Greece, Greece, and Greece.
Worries continue to mount that Greece may default on its debt. It has been reported that the government directed public entities to transfer their cash reserves to aid its cash flow.
Iran's oil minister pointed out the obvious -- though it's important to note as it has effects on the global price of oil -- when he commented today that he expects OPEC to allow Iran a significant bump in oil production in the event of a post-sanctions world.
General Electric (GE) is reported to be in talks with Wells Fargo (WFC) in regards to its $74 billion commercial lending and leasing portfolio, as it had announced its desire to sell those assets from GE Capital.
Some notable earnings today include DuPont (DD), Baker Hughes (BHI), Trifecta's United Technologies (UTX), Lockheed Martin (LMT), Growth Seeker's Under Armour (UA), Verizon Communications (VZ), Trifecta's Illinois Tool Works (ITW), Chipotle Mexican Grill (CMG), Amgen (AMGN), Yahoo! (YHOO) and Growth Seeker's United Rentals (URI).
Today's domestic economic calendar includes the Redbook weekly sales report at 8:55 a.m. and the API weekly oil inventories report at 4:30 p.m.
Happy trading.
Bryan Ashenberg is the portfolio manager for Growth Seeker and the fundamental analyst for Trifecta Stocks. Test drive with a free trial.
