Market Off Its High, Bloomberg's Ahn Explains Why
NEW YORK (TheStreet) -- The market is slipping from its recent rally this afternoon due to two main investor concerns, Bloomberg's Shery Ahn said on "Bloomberg Markets" today.
"Investors are a bit cautious" of this week's corporate earnings from over 200 companies and of central bank decisions, including from the Federal Reserve which meets on Tuesday and Wednesday, according to Ahn.
"So we're seeing some pressure today," Ahn commented.
The S&P 500 is off its four-week rally by 0.58% to $12.52 this afternoon.
However, when looking at the S&P "in context," investors will see that the index has not slipped as low as it did last Tuesday and Thursday, Ahn noted.
The Dow Jones is falling from its nine-day gains 0.62% to $115.39 and the NASDAQ is declining 0.29% to $14.70 midday today.
And although the NASDAQ is down, it is still "out performing" its Dow and S&P index peers, Ahn pointed out.
One of Monday's market leaders is Micron Technology (MU) - Get Report after its adoption of a poison pill on Friday.
The energy sectors continue to be one of the main drags on the market.
Shares of Micron are rising 7.54% to $14.12 this afternoon.
Separately, TheStreet Ratings rated Micron as a "hold" with a score of C.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: MU
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.