Markets Flat at Opening
Wall Street was on pace for a blah week until yesterday's big 2 percent surge in the Dow. Today we'll see if traders keep the momentum going or take some of yesterday's profits in a sell-off.
In the first 15 minutes of trading, the Dow, the broader S&P 500 and the tech-heavy Nasdaq were flat.
Incomes surged in May, which is good, and the personal savings rate hit its highest mark in 15 years, which is sort of good but not as good as you'd think.
As the U.S. economy is 70 percent based on consumer spending, it's bad for the economy if people save too much. On the other hand, if folks are saving, they're not mounting up big credit card debts and spending themselves into another bubble. But on the other other hand, if you're saving now, you're not getting the best return because interest rates are so low.
June 26, 2009; 9:49 AM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500
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