Angst in Europe Travels to American Markets

A report from the European Commission indicating that the European Union’s recession may be deeper and last longer than previously thought has set today’s opening tone for domestic financial markets. Treasuries that lost ground yesterday are regaining some of that with the Ten-Year’s yield dropping a few basis points to around 0.66% while equity markets are headed for an opening in the red. DJIA futures point to triple-digits down.

Today’s only scheduled economic report will be the JOLTS report from the BLS later this morning and it may show that the number of job openings declined slightly in May. Old data and not a market mover, anyway.

Crude oil is off slightly, but still north of $40 while gold is slightly weaker at $1,778. And then there’s a report about the confirmed case of a brain-eating amoeba found in Florida.