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Dow Jones opens higher and turns lower in early trading
The Dow Jones did reopen higher today. Live trade commenced at 38,983 after setting a close last night at 38,892. The high seen was set at 38,992. The low seen so far has been set at 38,813, Trading is pretty fluid given the lack of fresh news and immediate outside drivers. The move lower in stocks so far today smacks of little other than profit-taking ahead of the important US CPI data tomorrow. There is likely to be more jostling in that respect ahead of that release. Meantime, hawkish voices in respect of upcoming Fed policy are getting louder and some very respected pundits outside of the FOMC are once again questioning the need for the Fed to cut rates at all right now. The Dow Jones is just now trading at 38,830
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