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 We saw a decent sized sell-off despite a limited amount of news. First, the scoreboard: - Dow: 15,337.6, -113.3, -0.7%
- S&P 500: 1,685.3, -8.7, -0.5%
- NASDAQ: 3,669.2, -15.1, -0.4%
And now, the top stories: - Stocks had another down day, and that all-time high of S&P 1,709 earlier this month is getting farther and farther away.
- For what it's worth, a "Hindenburg Omen" was spotted in the stock market today. This technical indicator consists of a combination of market patterns that supposedly precede sell-offs. Currently, we've seen six such omens in eight trading sessions. "It's extremely rare to see as many Omens occurring together as we've seen over the past 50 days," said SentimenTrader's Jason Goepfert. "The last time was prior to the bear market in 2007. The time before that was prior to the bear market in 2000."
- Here's UBS's Art Cashin on the omen: "The viewers should be alert to it, but they shouldn't be panicked. It is a signal that says they may have a serious sell-off not they must have a serious sell-off."
- Earlier today, we learned that producer prices were unchanged in July, largely due to falling gas and electricity prices. Economists were looking for an increase of 0.3%.
- "We doubt that July’s soft producer prices figures will force the Fed to conclude that the recent downward trend in core price pressures is more than temporary," said Capital Economics Paul Dales.
- The Federal Reserve Bank of New York published its Q2 Quarterly Report On Household Debt And Credit. "In Q2 2013 total household indebtedness fell to $11.15 trillion; 0.7% lower than the previous quarter and 12 percent below the peak of $12.68 trillion in Q3 2008," said the NY Fed in a press release. "Mortgages, the largest component of household debt, fell $91 billion from the first quarter... Total auto loan balances increased $20 billion from the previous quarter, the ninth consecutive quarterly increase and the largest quarter over quarter increase since 2006."
- Don't Miss: 46 Charts That Every Gold Bull Will Love »
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