U.S. stocks opened in the red Friday but quickly bounced back amid concerns about China's growth and heightened global tensions over Ukraine. As a result of the showdown over Crimea, gold rose to fresh six-month highs on Friday morning of $1,388 an ounce and is headed for its biggest weekly gain in four weeks. Herbalife shares are in the spotlight again after it pushed back its annual shareholder meeting by five days so it can continue talks with activist investor Carl Icahn.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.