Doubts & Performance Anxiety

Good morning. The market is showing some doubt over the recent gains as a plethora of negative news comes out.

Along with higher oil prices and rising jobless claims, Dow components AIG and Walmart are not inspiring much confidence. Investors are concerned that AIG will need to raise more capital and Walmart joins other retailers by missing their July targets even with the stimulus checks.

Premarket gainers: HAYN, ENG, PDC, PDO, NFS, OMG, CAR, VE, GTE, MF, VRNM, PEIX, EGLE, AXA, ILE, WRC, JCP, PQ, BZP, PRXL, & RTK.

Premarket losers: MCGC, FBN, KG, STV, PMI, SCA, CTRN, VRSN, AIG, SWIM, ACOR, UTSI, ACH, CEA, IMAX, AEG, BBI, NTT, EXM, LCC, MLM, UAUA, AMR, DYN, SKM, & PLCE.

At 10:AM we have the pending home sales index and not much economic data to ponder for the remainder of the week which is probably a good thing given this morning's data.

Much like yesterday, today's task is to shake off the premarket negativity and maintain if not accumulate more gains. A continued series of positive days is likely creating some performance anxiety among the herd which can provide a positive catalyst all by itself even amid all of the bad news.

Have a great day!