• S&P 500 and Dow pause for a Day, Closing Slightly Negative; Oil Hit Hard

    DOW 17,814.94  -2.96 points or  -0.02%
    S&P 500  2,067.03  -2.38 points  -0.12%

    NASDAQ 4,758.25  +3.36 points or  +0.07%

    Russell 2000  1,186.33  -0.61 points or  -0.61%

     

    After trading up at new highs over the past few sessions, the S&P 500 and Dow paused for a day, closing in slightly negative. The Market opened higher, and then abruptly sold off into negative territory, and then traded around the unchanged level for the remainder of the day closing slightly on the negative side. The January Crude oil futures were hit hard today, as the futures contract traded down over 2.5 percent to close down at $74.21 per barrel Th.e VIX  continues to sit at low levels, slipping almost 3 percent today to close down at 12.25.  Treasury bonds yields are slowly melting, with the 10 year closing down at a 2.26 percent yield.  Trading volume was about 6.1 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 25
    8:30 am GDP-Second Estimate report for the 3rd Quarter was 3.9 percent. The Market was expecting 3.2 percent. The prior reported figure was 3.5 percent. 
    8:30 am GDP Deflator- Second Estimate report for the 3rd Quarter was 1.4 percent. The Market was expecting 1.3 percent. The prior reported figure was also 1.3 percent. 
    9:00 am Case-Schiller 20-city Index report for September was 4.9 percent. The Market was expecting 4.6 percent. The prior reported figure was 5.6 percent. 
    9:00 am FHFA Housing Price Index report for September was flat. The prior reported figure was revised from 0.5 percent to 0.4 percent.
    10:00 am Consumer Confidence report for November was 88.7. The Market was expecting 96. The prior reported figure was revised from 94.5 to 94.1.

    November 26
    7:00 am MBA Mortgage Index report for November 22
    8:30 am Initial Claims report for November 22
    8:30 am Continuing Claims report for November 15
    8:30 am Durable Orders report for October
    8:30 am Durable Goods-ex transportation for October
    8:30 am Personal Income report for October
    8:30 am Personal Spending report for October
    8:30 am PCE Prices-Core report for October
    9:45 am Chicago PMI report for November 
    9:55 am Michigan Sentiment – Final report for November
    10:00 am New Home Sales report for October
    10:00 am Pending Home Sales report for October
    10:30 am Crude Inventories report for November 22
    12:00 am Natural Gas Inventories report for November 22
  • Dow and S&P 500 Move Slightly Higher to Close at New All Time Highs



    DOW 17,817.90  +7.84 points or  +0.04%
    S&P 500  2,069.41  +5.91 points  +0.29%

    NASDAQ 4,754.89  +41.92 points or  +0.89%

    Russell 2000  1,186.94  +14.52 points or  +1.24%

     

    The Dow and the S&P 500 both added to Fridays rally and closed up at new all time highs. The Market opened higher, and the S&P 500 basically remained at the morning highs for the remainder of the day. The Dow gave back most of the morning gains from the oil sector pulling it down, yet the Dow managed to close slightly plus to close at a new all time high. The tech heavy NASDAQ index enjoyed a nice day led by Apple's run up to another new all time high. The small cap sector enjoyed the strongest performance of the day as evidenced by the Russell 2000 index running up over 1 percent for the day. The January Crude oil futures were basically unchanged, trading down 0.05 percent to close at $75.74 per barrel. The VIX  slipped -2.17 percent to close down at 12.62.  Treasury bonds  closed at a 2.31 percent yield.  Trading volume was about 5.6 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 25
    8:30 am GDP-Second Estimate report for the 3rd Quarter
    8:30 am GDP Deflator- Second Estimate report for the 3rd Quarter
    9:00 am Case-Schiller 20-city Index report for September
    9:00 am FHFA Housing Price Index report for September
    10:00 am Consumer Confidence report for November

    November 26
    7:00 am MBA Mortgage Index report for November 22
    8:30 am Initial Claims report for November 22
    8:30 am Continuing Claims report for November 15
    8:30 am Durable Orders report for October
    8:30 am Durable Goods-ex transportation for October
    8:30 am Personal Income report for October
    8:30 am Personal Spending report for October
    8:30 am PCE Prices-Core report for October
    9:45 am Chicago PMI report for November 
    9:55 am Michigan Sentiment – Final report for November
    10:00 am New Home Sales report for October
    10:00 am Pending Home Sales report for October
    10:30 am Crude Inventories report for November 22
    12:00 am Natural Gas Inventories report for November 22
  • 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