Oct 22nd 2014 – Shock at Ottawa Shooting

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Market View:

The breaking news of an attack on the Canadian Parliament in Ottawa, with the subsequent death of a soldier, certainly spooked the market today.

With this awful news it seems perhaps less important to talk about the stock market today.  My thoughts go out to the friends and family who are affected by this terrible tragedy.

Market News:

U.S. stocks turned lower on Wednesday, following the S&P 500’s biggest jump in a year, as investors considered the fatal shooting of a soldier in Ottawa, reports of gunfire in the halls of Canada’s Parliament and oil falling to a more-than two-year low.

A military guard died after getting shot at the National War Memorial in Ottawa, with multiple rounds then reportedly fired at the adjacent Parliament building. The gunfire followed increased worry about terrorist attacks in Canada, where a radical jihadist ran over two soldiers in a suburb of Montreal on Monday, killing one.

Equities began to ease gains as the price of oil turned lower after data had U.S. inventories rising more than expected.

U.S. consumer prices climbed marginally last month as energy prices declined, illustrating tame inflation that should allow the Federal Reserve to keep interest rates low for a time.

The Labor Department’s Consumer Price Index edged up 0.1 percent in September after falling 0.2 percent the prior month.

Earnings: Microsoft, Amazon.com, Caterpillar, Celgene, Comcast, Daimler, Eli Lilly, General Motors, MMM, Occidental Petroleum, Juniper Networks, Pandora, Altera, Southwestern Energy, Raytheon, Alaska Air, Dunkin Brands, Sonus, Imax, JetBlue, Under Armour, Southwest Air, Credit Suisse, United Continental, Union Pacific, KKR, Alexion Pharma, Dr. Pepper Snapple

8:30 a.m.: Weekly jobless claims

9:00 a.m.: FHFA Home prices

10:00 a.m.: Leading indicators

News Sources:  CNN Money & CNBC

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