“The market got off to a very strong start at the open, but most major sectors finished well off their intraday highs,” noted Schaeffer’s Senior Equity Analyst Joe Bell, CMT. “Many participants thanked the lack of military action against
Stocks eased from their morning highs, giving ground after House Republican leadership endorsed the President’s call for a military strike against Syria and the U.S. Senate began hearings on the proposed action.
European bourses turned lower, but strong manufacturing data from China helped limit losses. HSBC’s private survey of Chinese manufacturing activity crossed the key 50 level for the first time in four months in August, in line with last week’s