Market Update: U.S. Equities Slide, Commodities Gain (SPY, GLD, USO)

U.S. equities are trading down early this afternoon, as weak corporate earnings from Goldman Sachs GS and IBM IBM weighed on markets. The SPDR S&P 500 ETF SPY is down 0.5% today. Commodities are gaining in a flight to safe assets. Gold is up $8 to $1190 an ounce. The SPDR Gold Trust GLD is up 0.7%. The United States Oil Fund USO is up 0.6% today, with oil futures trading at $77 a barrel. Overseas, London's FTSE, Germany's DAX, and Japan's Nikkei indicies retreated.