U.S. equity markets could not hold on to its earlier gains and fizzled into the close. Earlier today, the market got a boost, driven higher by good corporate earnings reports and a better than expected consumer confidence report.
U.S. equity markets started the day with a firm tone, but the rally fizzled into the close. Although the markets managed to finish higher, the lack of activity because of the holiday week, caused buyers to pull bids, sending the indices lower.
At the midsession, it appeared the U.S. Dollar was in a position to reverse today’s trend and finish higher for the day, but bullish news from Intel after the close helped drive up demand for higher risk assets.