Market Flash: Market Down

Breakfast Bites; The Markets are down this morning, taking a breather from the rally last week, as Greek leaders continue to wrestle with spending cuts to get aid and avert a default.

•  Last week the S&P 500 posted its 5^th weekly rally. The S&P 500 has risen 6.9% this year for the best annual start since 1987


•  All major sectors are trading lower, led down by materials and financials. Industrials and consumer staples are the 2 positive sectors.  Crude oil and gold are both lower on the strength of the dollar.


• Of the 283 S&P 500 companies who have reported Q4 earnings, 60% beat estimates, 12% were in-line, and 28% were below the mean.