Market drifts during slow day The averages remain mixed and close to the flat line. The market has moved in a narrow range all day and the volume has been light. Declining stocks are just slightly ahead of advancing stocks and up volume and down volume are even. Crude oil prices are lower by more than 0.4% and gold is down over 1.4%. The Dow is up 1 point, the Nasdaq is down 7 points and the S&P is down 1 point.
BofA/Merrill to hold a conference 2015 Payments & Card Conference is being held in Scottsdale, AZ on May 18-20.
Futures slightly lower ahead of opening of new week U.S. equity futures are below fair value following a weekend of quiet news flow. The first quarter earnings season is winding down and investors are beginning to look forward to the long Memorial Day weekend. Today’s focus will be on the housing data due out at 10:00am EDT with the release of the NAHB housing market index. Many have expressed concern that the housing rebound will remain muted for the foreseeable future as the Fed gears up to begin raising interest rates.