• Dow and S&P Close at New All Time Highs on China Rate Cut and EU QE


    DOW 17,810.06  +91.06 points or  +0.51%
    S&P 500  2,063.50  +10.75 points  +0.52%

    NASDAQ 4,712.97  +11.10 points or  +0.24%

    Russell 2000  1,172.42  +1.66 points or  +0.14%

     

    The Market rallied strong today on the heals of China cutting rates to stimulate their economy as well as the EU beginning their version of QE (Quantitative Easing) bond buying program. The Market jumped higher at the opening and remained higher throughout the trading day, closing at new all time highs for the Dow and the S&P 500 once againThe December Crude oil futures traded over $75 per barrel for the second consecutive trading session moving up 1.19 percent to close at $76.75 per barrel. Crude oil has now traded under $80 per barrel for 14 consecutive trading sessions. The VIX  moved lower, dropping -5 percent to close down at 12.90.  Despite rate cuts in China and QE by the EU, Treasury bonds have been dull, and closed at a 2.32 percent yield.  Trading volume was about 6.5 billion shares changing hands across all trading venues, according to BATS exchange data.

     

    All released and proposed to be released economic reports for the week are listed below.


    November 17 

    8:30 am Empire Manufacturing report for November was 10.2. The Market was expecting 12.0. The prior reported figure was 6.2.
    9:15 am Industrial Production report for October was -0.1 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 1.0 percent to 0.8 percent.
    9:15 am Capacity Utilization report for October was 78.9 percent. The Market was expecting 79.3 percent. The prior reported figure was revised from 79.3 percent to 79.2 percent.

    November 18
    8:30 am PPI report for October was 0.2 percent. The Market was expecting -0.2 percent. The prior reported figure was -0.1 percent. 
    8:30 am Core CPI report for October was 0.4 percent. The Market was expecting 0.1 percent. The prior reported figure was flat.
    10:00 am NAHB Housing Market Index report for November was 58. The Market was expecting 545. The prior reported figure was 54.
    4 pm Net Long-Term TIC Flows report for September was $164.3B. The prior reported figure was $52.1B.

    November 19
    7:00 am MBA Mortgage Index report for November 15 was 4.9 percent. The prior reported figure was -0.9 percent. 
    8:30 am Housing Starts report for October was 1,009,000. The Market was expecting 1,025,000. The prior reported figure was revised from 1,017,000 to 1,038,000.
    8:30 am Building Permits report for October was 1,080,000. The Market was expecting 1,040,000. The prior reported figure was revised from 1.018,000 to 1,031,000. 
    10:30 am Crude Inventories report for November 15 was 2.608M. The prior reported figure was -1.735M. 
    2:00 pm FOMC Minutes report from October 29 was basically in line with expectations. Fed Members agreed to end QE and leave interest rates low for an extended period of time.

    November 20
    8:30 am Initial Claims report for November 15 was 291,000. The Market was expecting 285,000. The prior reported figure was revised from 290,000 to 293,000.
    8:30 am Continuing Claims report for November 8 was 2,330,000. The Market was expecting 2,380,000. The prior reported figure was revised from 2,392,000 to 2,403,000. 
    8:30 am CPI report for October was flat. The Market was expecting -0.1 percent. The prior reported figure was revised to 0.1 percent.
    8:30 am Core CPI report for October was 0.2 percent. The Market was expecting 0.1 percent. The prior reported figure was also 0.1 percent. 
    10:00 am Existing Home Sales report for October was 5.26M. The Market was expecting 5.17M. The prior reported figure was revised from 0.8 percent to 0.7 percent. 
    10:00 am Philadelphia Fed report for November was 40.8. The Market was expecting 18.3. The prior reported figure was 20.7.
    10:00 am Leading Indicators report for October was 0.9 percent. The Market was expecting 0.6 percent. The prior reported figure was revised from 0.8 percent to 0.7 percent. 
    10:30 am Natural Gas Inventories report for November 15 was -17bcf. The prior reported figure was 40bcf. 

  • Market Takes a Tiny Breather Backing Off Slightly

    DOW 17,685.73  -2.09 points or  -0.01%
    S&P 500  2,048.72  -3.08 points  -0.15%

    NASDAQ 4,675.71  -26.73 points or  -0.57%

    Russell 2000  1,157.69  -12.60 points or  -1.08%

     

    The Market took a small breather today, backing off ever so slightly just under the Market all time highs. The Market opened lower, rallied back to the unchanged level and remained near the unchanged level on the negative side into the close. The NASDAQ and the small cap Russell 200 index were hit much harder than the large cap indexes. The December Crude oil futures slipped back below $75 per barrel today for the second consecutive trading session. Crude oil has now traded under $80 per barrel for 12 consecutive trading sessions. The VIX  moved up slightly today, gaining 0.72 percent to close up at 13.96. Treasury bonds have been quiet, and closed at a 2.35 percent yield.  Trading volume was about 6.3 billion shares changing hands across all trading venues, according to BATS exchange data.

     

    All released and proposed to be released economic reports for the week are listed below.


    November 17 

    8:30 am Empire Manufacturing report for November was 10.2. The Market was expecting 12.0. The prior reported figure was 6.2.
    9:15 am Industrial Production report for October was -0.1 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 1.0 percent to 0.8 percent.
    9:15 am Capacity Utilization report for October was 78.9 percent. The Market was expecting 79.3 percent. The prior reported figure was revised from 79.3 percent to 79.2 percent.

    November 18
    8:30 am PPI report for October was 0.2 percent. The Market was expecting -0.2 percent. The prior reported figure was -0.1 percent. 
    8:30 am Core CPI report for October was 0.4 percent. The Market was expecting 0.1 percent. The prior reported figure was flat.
    10:00 am NAHB Housing Market Index report for November was 58. The Market was expecting 545. The prior reported figure was 54.
    4 pm Net Long-Term TIC Flows report for September was $164.3B. The prior reported figure was $52.1B.

    November 19
    7:00 am MBA Mortgage Index report for November 15 was 4.9 percent. The prior reported figure was -0.9 percent. 
    8:30 am Housing Starts report for October was 1,009,000. The Market was expecting 1,025,000. The prior reported figure was revised from 1,017,000 to 1,038,000.
    8:30 am Building Permits report for October was 1,080,000. The Market was expecting 1,040,000. The prior reported figure was revised from 1.018,000 to 1,031,000. 
    10:30 am Crude Inventories report for November 15 was 2.608M. The prior reported figure was -1.735M. 
    2:00 pm FOMC Minutes report from October 29 was basically in line with expectations. Fed Members agreed to end QE and leave interest rates low for an extended period of time.

    November 20
    8:30 am Initial Claims report for November 15
    8:30 am Continuing Claims report for November 8
    8:30 am CPI report for October
    8:30 am Core CPI report for October
    10:00 am Existing Home Sales report for October
    10:00 am Philadelphia Fed report for November
    10:00 am Leading Indicators report for October
    10:30 am Natural Gas Inventories report for November 15

  • New Highs March Continues as S&P and Dow Close at All Time Highs



    DOW 17,687.82  +40.07 points or  +0.23%
    S&P 500  2,051.80 +10.48 points  +0.51%

    NASDAQ 4,702.44  +31.44 points or  +0.67%

    Russell 2000  1,170.28  +6.05 points or  +0.52%

     

    The new high march continued today breaking the dull Market conditions we experienced over the past several trading days. The Market opened higher, and added to the morning gains throughout the day to catapult the S&P 500 and the Dow back up to new all time high closing prices. The rally was broad, with the NASDAQ and small cap Russell 2000 posting solid gains as well. Apple, the largest US company, has been leading the Market higher. Apple moved up 1.30 percent  to close at 115.47, a new all time high.The December Crude oil futures slipped back below $75 per barrel today losing -0.51 percent to close down at $74.26 per barrel. The VIX  dropped off -0.93 percent to close down at 13,86. Treasury bonds have been quiet, and closed at a 2.32 percent yield.  Trading volume was about 6.2 billion shares changing hands across all trading venues, according to BATS exchange data.

     

    All released and proposed to be released economic reports for the week are listed below.


    November 17 

    8:30 am Empire Manufacturing report for November was 10.2. The Market was expecting 12.0. The prior reported figure was 6.2.
    9:15 am Industrial Production report for October was -0.1 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 1.0 percent to 0.8 percent.
    9:15 am Capacity Utilization report for October was 78.9 percent. The Market was expecting 79.3 percent. The prior reported figure was revised from 79.3 percent to 79.2 percent.

    November 18
    8:30 am PPI report for October was 0.2 percent. The Market was expecting -0.2 percent. The prior reported figure was -0.1 percent. 
    8:30 am Core CPI report for October was 0.4 percent. The Market was expecting 0.1 percent. The prior reported figure was flat.
    10:00 am NAHB Housing Market Index report for November was 58. The Market was expecting 545. The prior reported figure was 54.
    4 pm Net Long-Term TIC Flows report for September was $164.3B. The prior reported figure was $52.1B.

    November 19
    7:00 am MBA Mortgage Index report for November 15
    8:30 am Housing Starts report for October 
    8:30 am Building Permits report for October
    10:30 am Crude Inventories report for November 15
    2:00 pm FOMC Minutes report from October 29

    November 20
    8:30 am Initial Claims report for November 15
    8:30 am Continuing Claims report for November 8
    8:30 am CPI report for October
    8:30 am Core CPI report for October
    10:00 am Existing Home Sales report for October
    10:00 am Philadelphia Fed report for November
    10:00 am Leading Indicators report for October
    10:30 am Natural Gas Inventories report for November 15

  • S&P 500 Squeezes Out Another New All Time High in Another Dull Trading Session



    DOW 17,647.75  +13.01 points or  +0.07%
    S&P 500  2,041.32 +1.50 points  +0.07%

    NASDAQ 4,671.00  -17.54 points or  -0.37%

    Russell 2000  1,164.23  -9.57 points or  -0.82%

     

    The Market continued Fridays dull trading session but managed to squeeze in a new all time high close on the S&P 500 index.  The Market opened basically unchanged and similar to Fridays trading action, the Market again hugged the unchanged level throughout the day. The S&P 500 is now up 10.4 percent on the year. The small cap Russell 2000 index struggled today, dropping over .80 percent. Early this morning, the Japanese Market was hit on reported that the economy was slipping back into a recession. Tonight, now Tuesday morning in Japan, the Japanese Market but rebounded and rallied strong running up over 2 percentCrude Oil traded under $75 per barrel this morning and then rallied on the heals of an afternoon rally to close down -0.33 percent closing at 75.39 on the December Crude Oil contract. Crude oil is now trading below $80 per barrel for the 11th consecutive trading session. The VIX  moved up 5.11  percent. Treasury bonds closed at a 2.34 percent yield.  Trading volume was about 5.8 billion shares changing hands across all trading venues, according to BATS exchange data.

     

    All released and proposed to be released economic reports for the week are listed below.


    November 17 

    8:30 am Empire Manufacturing report for November was 10.2. The Market was expecting 12.0. The prior reported figure was 6.2.
    9:15 am Industrial Production report for October was -0.1 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 1.0 percent to 0.8 percent.
    9:15 am Capacity Utilization report for October was 78.9 percent. The Market was expecting 79.3 percent. The prior reported figure was revised from 79.3 percent to 79.2 percent.

    November 18
    8:30 am PPI report for October 
    8:30 am Core CPI report for October 
    10:00 am NAHB Housing Market Index report for November 
    4 pm Net Long-Term TIC Flows report for September 

    November 19
    7:00 am MBA Mortgage Index report for November 15
    8:30 am Housing Starts report for October 
    8:30 am Building Permits report for October
    10:30 am Crude Inventories report for November 15
    2:00 pm FOMC Minutes report from October 29

    November 20
    8:30 am Initial Claims report for November 15
    8:30 am Continuing Claims report for November 8
    8:30 am CPI report for October
    8:30 am Core CPI report for October
    10:00 am Existing Home Sales report for October
    10:00 am Philadelphia Fed report for November
    10:00 am Leading Indicators report for October
    10:30 am Natural Gas Inventories report for November 15