• The Market Finished the Wild Volatile Week with a Big Rally



    DOW 16,380.41  +263.17 points or +1.63%
    S&P 500 1,886.76  +24.00 points or  +1.29%

    NASDAQ 4,258.44  +41.05 points or  +0.97%

    Russell 2000  1,082.33  -3.79 points or -0.35%


    After a wild, volatile down week, the Market jumped higher at the opening today and remained up near the morning highs all day and into the close. The small cap Russell 2000 index which outperformed the large cap Market over the past few sessions, was actually down on the day. The volatility dropped for the second consecutive session, as the VIX closed down over 12 percent. The 10 year Treasury bond yield closed at a 2.14 percent yield. 

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


    October 15

    7:00 am MBA Mortgage Index report for October 11 was 5.6 percent. The prior reported figure was 3.8 percent. 

    8:30 am Retail Sales report for September was -0.3 percent. The Market was expecting 0.3 percent. The prior reported figure was 0.3 percent. 

    8:30 am Retail Sales ex auto report for September was -0.2 percent. The Market was expecting 0.3 percent. The prior reported figure was 0.3 percent. 

    8:30 am PPI report for September was -0.1 percent. The Market was expecting 0.1 percent. The prior reported figure was flat.

    8:30 am Core PPI report for September was flat. The Market was expecting 0.1 percent. The prior reported figure was 0.1 percent. 

    8:30 am Empire Manufacturing report for October was 6.2. The Market was expecting 20.4. The prior reported figure was 27.5.

    10:00 am Business Inventories report for August was 0.2 percent. The Market was expecting 0.4 percent. The prior reported figure was 0.4 percent.

    2:00 pm Fed’s Beige Book report for October said the economy is growing at a modest pace, painting a picture of a stable economy, in the face of this weeks weak economic signals.


    October 16

    8:30 am Initial Claims report for October 11 was 264,000. The Market was expecting 290,000. The prior reported figure was 287,000. 

    8:30 am Continuing Claims report for October 4 was 2,389,000. The Market was expecting 2,388,000. The prior reported figure was revised from 2,381,000 to 2,382,000.

    9:15 am Industrial Production report for September was 1.0 percent. The Market was expecting 0.4 percent. The prior reported figure was revised from -0.1 percent to -0.2 percent.

    9:15 am Capacity Utilization report for September was 79.3 percent. The Market was expecting 79.0 percent. The prior reported figure was revised from 78.8 percent to 78.7 percent. 

    10:00 am Philadelphia Fed report for October was 20.7. The Market was expecting 19.8. The prior reported figure was 22.5.

    10:00 am NAHB Housing Market Index report for October was 54. The Market was expecting 59. The prior reported figure was also 59.

    10:30 am Natural Gas Inventories report for October 11 was 94 bcf. The prior reported figure was 105 bcf. 

    11:00 am Crude Inventories report for October 11 was 8.923M. The prior reported figure was 5.015M.

    4:00 pm Net Long-Term TIC Flows report for August was $52.1B. The prior reported figure was -18.6B.


    October 17

    8:30 am Housing Starts report for September was 1,017,000. The Market was expecting 1,013,000. The prior reported figure was revised from 956,000 to 957,000. 

    8:30 am Building Permits report for September was 1,018,000. The Market was expecting 1,030,000. The prior reported figure was revised from 998,000 to 1,003,000. 

    9:55 am Michigan Sentiment report for October was 86.4. The Market was expecting 84.0. The prior reported figure was 84.6.

  • Market Recovers Early Morning Losses to Close Unchanged


    DOW 16,117.24  -24.50 points or -0.15%
    S&P 500 1,862.76  +0.27 points or  +0.01%

    NASDAQ 4,217.39  +2.07 points or  +0.05%

    Russell 2000  1,086.11  +13.67 points or +1.27%


    The Market opened sharply lower again this morning, bottoming out after 10 am ET, climbed back to the unchanged level and hugged the unchanged level for the remainder of the day. The small cap Russell 2000 index completely outperformed the large cap sector for the second consecutive, rallying to close up over 1.25 percent. Today’s rally off the lows appeared to be a temporary bottom. The rally slowed the recent volatility down, as evidenced by the VIX, which was 4 percent lower for the day after successive double digit gains over the past couple sessions.  Oil prices dropped below the $80/barrel level in early morning trading and managed to rally off that level to close over $83/barrel. The 10 year Treasury bond yield rose today, moving up to close at a 2.15 percent yield. Trading volume was heavy today, trading approximately 9.9 billion shares across all equity trading venues according to BATS exchange data.

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


    October 15

    7:00 am MBA Mortgage Index report for October 11 was 5.6 percent. The prior reported figure was 3.8 percent. 

    8:30 am Retail Sales report for September was -0.3 percent. The Market was expecting 0.3 percent. The prior reported figure was 0.3 percent. 

    8:30 am Retail Sales ex auto report for September was -0.2 percent. The Market was expecting 0.3 percent. The prior reported figure was 0.3 percent. 

    8:30 am PPI report for September was -0.1 percent. The Market was expecting 0.1 percent. The prior reported figure was flat.

    8:30 am Core PPI report for September was flat. The Market was expecting 0.1 percent. The prior reported figure was 0.1 percent. 

    8:30 am Empire Manufacturing report for October was 6.2. The Market was expecting 20.4. The prior reported figure was 27.5.

    10:00 am Business Inventories report for August was 0.2 percent. The Market was expecting 0.4 percent. The prior reported figure was 0.4 percent.

    2:00 pm Fed’s Beige Book report for October said the economy is growing at a modest pace, painting a picture of a stable economy, in the face of this weeks weak economic signals.


    October 16

    8:30 am Initial Claims report for October 11 was 264,000. The Market was expecting 290,000. The prior reported figure was 287,000. 

    8:30 am Continuing Claims report for October 4 was 2,389,000. The Market was expecting 2,388,000. The prior reported figure was revised from 2,381,000 to 2,382,000.

    9:15 am Industrial Production report for September was 1.0 percent. The Market was expecting 0.4 percent. The prior reported figure was revised from -0.1 percent to -0.2 percent.

    9:15 am Capacity Utilization report for September was 79.3 percent. The Market was expecting 79.0 percent. The prior reported figure was revised from 78.8 percent to 78.7 percent. 

    10:00 am Philadelphia Fed report for October was 20.7. The Market was expecting 19.8. The prior reported figure was 22.5.

    10:00 am NAHB Housing Market Index report for October was 54. The Market was expecting 59. The prior reported figure was also 59.

    10:30 am Natural Gas Inventories report for October 11 was 94 bcf. The prior reported figure was 105 bcf. 

    11:00 am Crude Inventories report for October 11 was 8.923M. The prior reported figure was 5.015M.

    4:00 pm Net Long-Term TIC Flows report for August was $52.1B. The prior reported figure was -18.6B.


    October 17

    8:30 am Housing Starts report for September

    8:30 am Building Permits report for September

    9:55 am Michigan Sentiment report for October

  • Wild Stock Market Ride


    DOW 16,141.74  -173.45 points or -1.06%
    S&P 500 1,862.49  -15.21 points or  -0.81%

    NASDAQ 4,215.32  -11.85 points or  -0.28%

    Russell 2000  1,072.45  +10.85 points or +1.02%


    The Market opened sharply lower in a wild trading session. The Market rebounded around 10 am ET, then proceeded to plunge again, culminating with the Dow capitulating down over 400 points around 2 pm ET. The Market then proceeded to rally erasing over half the days losses. The one bright spot was the small cap Russell 2000 index, the index that led the Market lower over the past few weeks, rallied up to positive territory to close up over 1 percent on the day. Oil prices slid again today, with WTI crude testing the $80/barrel level. The VIX, the Market volatility index, obviously resumed the upward climb today with the violent downward and violent upward Market moves, jumping up over 15 percent. The 10 year Treasury bond yield dropped like a rock, briefly trading below the 2 percent level, before settling in at about  a 2.09 percent yield. Trading volume was very heavy today, trading approximately 11.9 billion shares across all equity trading venues according to BATS exchange data.

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


    October 15

    7:00 am MBA Mortgage Index report for October 11 was 5.6 percent. The prior reported figure was 3.8 percent. 

    8:30 am Retail Sales report for September was -0.3 percent. The Market was expecting 0.3 percent. The prior reported figure was 0.3 percent. 

    8:30 am Retail Sales ex auto report for September was -0.2 percent. The Market was expecting 0.3 percent. The prior reported figure was 0.3 percent. 

    8:30 am PPI report for September was -0.1 percent. The Market was expecting 0.1 percent. The prior reported figure was flat.

    8:30 am Core PPI report for September was flat. The Market was expecting 0.1 percent. The prior reported figure was 0.1 percent. 

    8:30 am Empire Manufacturing report for October was 6.2. The Market was expecting 20.4. The prior reported figure was 27.5.

    10:00 am Business Inventories report for August was 0.2 percent. The Market was expecting 0.4 percent. The prior reported figure was 0.4 percent.

    2:00 pm Fed’s Beige Book report for October said the economy is growing at a modest pace, painting a picture of a stable economy, in the face of this weeks weak economic signals.


    October 16

    8:30 am Initial Claims report for October 11

    8:30 am Continuing Claims report for October 4

    9:15 am Industrial Production report for September

    9:15 am Capacity Utilization report for September

    10:00 am Philadelphia Fed report for October 

    10:00 am NAHB Housing Market Index report for October

    10:30 am Natural Gas Inventories report for October 11

    11:00 am Crude Inventories report for October 11

    2:00 pm Treasury Budget report for September

    4:00 pm Net Long-Term TIC Flows report for August


    October 17

    8:30 am Housing Starts report for September

    8:30 am Building Permits report for September

    9:55 am Michigan Sentiment report for October

  • Market Can’t Hold Morning Rally



    DOW 16,315.19  -5.88 points or -0.04%
    S&P 500 1,877.70  +2.96 points or  +0.16%

    NASDAQ 4,227.17  +13.52 points or  +0.32%

    Russell 2000  1,061.60  +12.30 points or +1.17%


    The Market opened higher, rallied enough to push the Dow over the plus 100 range around noon, and then slowly but steadily sold off for the remainder of the day giving back the morning gains, to close basically unchanged on the day. The small cap Russell 2000 index, which has suffered the largest losses over the past week, enjoyed a strong performance closing up over 1 percent on the day. Oil prices have come crashing down over the past few weeks dragging down all oil related equities.  The VIX, the Market volatility index, finally pulled back today, as the morning rally took some steam out of the Market volatility. Today, the VIX moved down over 7 percent. The 10 year Treasury bond yield melted again today, closing lower  at about a 2.21 percent yield. Trading volume was heavy gain today, trading approximately 9.2 billion shares across all equity trading venues according to BATS exchange data.

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


    October 15

    7:00 am MBA Mortgage Index report for October 11

    8:30 am Retail Sales report for September

    8:30 am Retail Sales ex auto report for September

    8:30 am PPI report for September

    8:30 am Core PPI report for September

    8:30 am Empire Manufacturing report for October

    10:00 am Business Inventories report for August

    2:00 pm Fed’s Beige Book report for October


    October 16

    8:30 am Initial Claims report for October 11

    8:30 am Continuing Claims report for October 4

    9:15 am Industrial Production report for September

    9:15 am Capacity Utilization report for September

    10:00 am Philadelphia Fed report for October 

    10:00 am NAHB Housing Market Index report for October

    10:30 am Natural Gas Inventories report for October 11

    11:00 am Crude Inventories report for October 11

    2:00 pm Treasury Budget report for September

    4:00 pm Net Long-Term TIC Flows report for August


    October 17

    8:30 am Housing Starts report for September

    8:30 am Building Permits report for September

    9:55 am Michigan Sentiment report for October