Central Banks are getting a lot of attention today. The Bank of Japan says it will keep its monetary policy steady, which includes negative interest rates. However, the BOJ says it will further ease if conditions warrant it. Meanwhile, the U.S. Federal Reserve begins a 2 day meeting today where no change in interest rates is expected. Investors sat on the sidelines ahead of the Fed, resulting in the lowest volume trading day of the year Monday. Avon (AVP) says it will move its headquarters out of the United States. The cosmetics company will shed 2500 jobs in the process. Avon has been unable to stem years of stagnating sales and a shrinking number of Avon ladies. Avon says this is not a tax inversion but rather the move to the United Kingdom is about being closer to some key operations. Several delegate rich states go to the polls today to choose Democrat and Republican candidates for president. Ohio and Florida are the biggest delegates states to vote today.
More from Video
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.