In Today's Update:
1) Stocks dipped again today and the Russell 2000 has officially completed the dreaded death cross formation. The Dow Jones Industrial Average dropped 205.99 or 0.81%, the S&P 500 fell 20.60 or 0.76% while the Nasdaq 100 closed lower by 64.48 or 0.90% and the Russell 2000 finished lower by 12.30 or 0.81%.
2) Crude Oil finally broke it's losing streak today edging higher by $0.52 or 0.93% while Gold Futures bounced $10.50 or 0.87% on weakness in the U.S. dollar. The Bond market was calm and the yield on the 10-year treasury note settled the day at 3.124%.
3) Today's after market hours trading session has been dominated by Cisco Systems Inc. (CSCO) and JPMorgan Chase (JPM). CSCO announced better-than-expected earnings and was trading higher by $2.17 or 4.90% while JPM was up $1.57 or 1.46% after news that Warren Buffett's Berkshire Hathaway has recently added 35 million shares ($4 billion) of JPM to his portfolio. Mr. Buffett also has significant positions in Bank of America, Wells Fargo, U.S. Bancorp, Goldman Sachs, and Bank of New York Mellon.