The markets were slightly higher on the day after starting modestly lower. The Dow 30 closed higher on the day by 122, the S&P 500 added 11, and the Nasdaq 100 closed higher on the day by 28. Weakness in retail, the government shutdown, and comments from the Fed chairman helped shape the markets today, with many analysts feeling they've become temporarily overbought.
Reits had a nice bump higher today as Federal reserve comments continue to suggest a slowing of rate hikes. Technical traders will note the recent runup has made it back to the 200-day moving average.
Retail stocks were hammered today on a slew of disappointing data from the individual retailers. While technical traders will attribute it to the 50-day moving average resistance, news from Macy's and others helped to pull the sector back as well.