Stocks Mixed to Kick Off Trading Session as Cryptos Collapse

December 22, 2017 9:33AM CST

The four major indices are all just a bit on one side or the other of unchanged in the early going of today’s trading session.  The biggest news of the day however is the drop in bitcoin and other crypto currencies, most of which are down over 20% on strong volume.  Durable goods came in on the lower end of the expected range at only 1.3%.  Consensus was up at 2.0%.  Personal incomes and outlays also came in on the lower end of the expected range at .3%.  Consensus was .4%.  While both numbers came in a bit below expectations, most would consider both readings to be positive overall.  New home sales came in well above the expected 650K at 733k.  After a 685K reading on the last report, this data continues to come in strong.  Consumer sentiment on the other hand came in weaker at 95.9 vs. an expected 97.0.  While this is the lowest reading we’ve seen in a few months, the data is still relatively strong overall.  We’ll see how the rest of the day plays out, but volume is expected to be very light.  I hope everyone has a great holiday weekend, and we’ll pick it back up on Tuesday as markets are closed Monday.

E-mini S&P Mar '18 Daily Chart


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