In today's update:
1) U.S. Equity markets started the month of September with a loss after Manufacturing data came in weaker than expected. The Dow Jones Industrial Average dropped 285.26 or 1.08%, the S&P 500 fell 20.19 or 0.69% while the NASDAQ 100 closed lower by 88.72 or 1.11% and the Russell 2000 finished lower by 22.52 or 1.51%.
2) Crude Oil Futures plunged again losing $1.16 or 2.11% on renewed concerns over the global economy while Gold Futures spiked $25.40 or 1.66%. The Bond market finished the day flat and the yield on the 10-Year Treasury Note settled at 1.474%.
3) There is a lot of excitement around Apple Inc. (AAPL) and the launch of their new iPhone next week, but can we say the same thing about their stock? Shares of AAPL have been consolidating in a narrow range for the better part of three months but could be on the verge of a breakout.