MONDAY 1/5/15; Euro Prints 1.18 Handle; Greece Potential Exit from Euro; WTIC Crude Oil Loses 50 Level; US Stocks Collapse; Santa Claus Rally Fails to Call on Broad and Wall

The NIKK begins trading for the first day of 2015. Stocks drift lower in early trading playing catch-up to the US. The dollar/yen pair drops to 120.33 so the stronger yen is sending the Nikkei lower with weak export stocks. Australia begins on a happy note. Metals and miners are a mixed bag with iron ore stocks trying to lead a recovery in the resource sector. SPASX200 is up +0.3% mid-session. US futures are lower to begin the new week. S&P -8. Dow -58. Nasdaq -16. US 10-year yield 2.10%. WTIC oil 52.32. Brent oil 56.00.

Asian indexes end mixed. The NIKK drops -0.2% in choppy trading as investors seek defensive dividend stocks. The HSI drops -0.6%. KOSPI -0.6%. Samsung is branching out more into internet-connected 






















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.............. many of the same prognosticators say a pullback was expected. Retail investors caught up in the Christmas stock market hype bought equities at the top at SPX 2094 and serve as the bag holders. Money managers push senior citizens into dividend and utility stocks and the naïve investors serve as cannon fodder.

At 9 PM EST, Asian markets are beginning the day and pointing lower after the rout in the US. The NIKK is down -2%. Dollar/yen 119.38. Euro 1.1941. Pound 1.5260. Aussie dollar 0.8119. US futures are flat. S&P +1. Dow +10. Nasdaq +1. Gold 1205. Silver 16.22. Copper 2.778. WTIC oil 50.24. Brent oil 53.25. Natty gas 2.94.

US Treasury yields are; 2-year 0.65%, 5-year 1.55%, 10-year 2.02%, 30-year 2.60%. The 2-10 spread is down to 137 basis points indicating an ever-flattening yield curve.