Stocks are near record highs, but that might not last long. Mark Newton, Chief Market Technician at Greywolf points out that Treasury yields are hitting November lows and that stocks in the Dow and S&P 500 have been tracking the Treasury bonds and could follow them to the downside. He also notes that even though stocks like Deere and Macy’s beat analyst estimates, they are guiding down and haven’t delivered sales increases. He sees growing negative headwinds that so far haven’t affected stock prices, but the Treasury move concerns him for stocks.
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