Market Flat, Commodities Take it On the Chin

As the dollar rises…..


…….Commodity related items are falling




A rally in health-care and biotechnology shares helped the Nasdaq outperform today, but  losses in the energy sector, spurred by falling oil prices and continuing concerns about a glut of crude, weighed on the market.

The bullish commodity case has been curtailed of late because of the the five day rally in the dollar.

Global growth issues are kicking in again too, as emerging markets continue to sell off.


OK, so with all this nastiness, the market was essentially flat today and biotech was positive by 2.6%.

As I mentioned in the midday update, I’m not sure yet if this commodity selloff is a “one off” yet or not. The move has been huge and they needed a rest.

China may start to weigh again, so I’m watching that to see if it snowballs.

See you in the morning.

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