The Wednesday Wrap
Macro: Q1 GDP revised to -0.2% q/q SAAR, Weekly Crude Inventories contracted more than expected.
1) The DJIA, and Russell 2000 both surrendered close to a full percent on the day, putting blue chips, and small caps in the same boat.
2) The S&P 500, and Nasdaq Comp. both gave up almost three quarters of a percent. Trading volume improved slightly, but still has to be considered paltry.
3) No sector was spared today’s sell-off. Consumer Staples did out-perform the general marketplace, while theTransports, and Materials were easily the ugliest. Railroads in particular were mauled.
4) With trouble re-emerging for Greece, Treasuries enjoyed safe haven status, and had a nice day.