• Market Screams Higher on Caterpillar Earnings; Amazon Pounded Post Close on Dismal Earnings


    DOW 16,677.90  +216.58 points or +1.32%
    S&P 500 1,950.82  +23.71 points or  +1.23%

    NASDAQ 4,452.79  +69.95 points or  +1.60%

    Russell 2000  1,116.49  +19.61 points or +1.79%


    The Market jumped higher at the opening, and proceeded to scream higher all day closing off the highs. The rally completely wiped out yesterdays losses and more. The small cap stocks that were hit the hardest yesterday, rallied the most today as the Russell 2000 was up 1.79 percent for the day. IBM broke its three day losing streak, with a meager 0.24 percent gain today. Caterpillar led the way higher today rallying up almost five percent on better than expected earnings. Amazon posted worse than expected earnings after the close and was down over eleven percent in post close trading. The VIX dropped again today, sliding down over seven percent. The 10 year Treasury bond yield climbed, closing at a 2.28 percent yield. Trading volume was  about 7.1 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.


    October 21

    10:00 am Existing Home Sales report for September was 5.71M. The Market was expecting 5.11M. The prior reported figure was 5.05M.


    October 22

    7:00 am MBA Mortgage Index report for October 18 was 11.6 percent. The prior reported figure was 5.6 percent. 

    8:30 am CPI report for September was 0.1 percent. The Market was expecting a flat report. The prior reported figure was -0.2 percent. 

    8:30 am Core CPI report for September was 0.1 percent. The Market was expecting 0.2 percent. The prior reported figure was flat. 

    10:30 am Crude Inventories report for October 18 was 7.111M. The prior reported figure was 8.923M.


    October 23

    8:30 am Initial Claims report for October 18 was 283,000. The Market was expecting 285,000. The prior reported figure was revised from 264,000 to 266,000. 

    8:30 am Continuing Claims report October 11 was 2,351,000. The Market was expecting 2,380,000. The prior reported figure was 2,389,000. 

    9:00 am FHFA Housing Price Index for September was 0.5 percent. The prior reported figure was revised from 0.1 percent to 0.2 percent.

    10:00 am Leading Indicators report for September was 0.8 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from 0.2 percent to flat. 

    10:30 am Natural Gas Inventories report for October 18 was 94bcf. The prior reported figure was also 94bcf. 


    October 24

    10:00 am New Home Sales report for September

  • S&P 3 Day Bounce Rally Ended; Apple Touched Time High


    DOW 16,461.32  -153.49 points or -0.92%
    S&P 500 1,927.11 -14.17 points or  -0.73%

    NASDAQ 4,382.85  -36.63 points or  -0.83%

    Russell 2000  1,096.87  -15.98 points or -1.44%


    The Market opened in positive territory, remained there until noon, when the Market crossed into negative turf, and then continued to slide lower all afternoon closing near the lows of the day. The S&P 500 three day bounce rally ended. The small cap stocks were hit the hardest, with the Russell 2000 down -1.44 percent for the day. IBM fell for the third consecutive trading day after the dismal earnings release on Monday. Usually after a stock is hit on a news event, there is some bounce back up. IBM may have lost the Markets confidence. Apple traded up into all time high territory, sold off from that level but managed to remain positive for the day. The VIX reversed the past three day double digit percent slide closing up 11 percent. The 10 year Treasury bond yield rose, closing at a 2.23 percent yield. Trading volume was  about 7.1 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.


    October 21

    10:00 am Existing Home Sales report for September was 5.71M. The Market was expecting 5.11M. The prior reported figure was 5.05M.


    October 22

    7:00 am MBA Mortgage Index report for October 18 was 11.6 percent. The prior reported figure was 5.6 percent. 

    8:30 am CPI report for September was 0.1 percent. The Market was expecting a flat report. The prior reported figure was -0.2 percent. 

    8:30 am Core CPI report for September was 0.1 percent. The Market was expecting 0.2 percent. The prior reported figure was flat. 

    10:30 am Crude Inventories report for October 18 was 7.111M. The prior reported figure was 8.923M.


    October 23

    8:30 am Initial Claims report for October 18

    8:30 am Continuing Claims report October 11

    9:00 am FHFA Housing Price Index for September

    10:00 am Leading Indicators report for September

    10:30 am Natural Gas Inventories report for October 18


    October 24

    10:00 am New Home Sales report for September

  • Market Screams Higher; Apple Jumps Up on Better Earnings



    DOW 16,614.81  +215.14 points or +1.31%
    S&P 500 1,941.28  +37.27 points or  +1.96%

    NASDAQ 4,419.48  +103.40 points or  +2.40%

    Russell 2000  1,112.85  +17.88 points or +1.63%


    The Market opened higher this morning, and then proceeded to scream higher the remainder of the day closing near the highs. The tech heavy NASDAQ index led the Market higher, jumping up over 2.4 percent. The S&P 500 index enjoyed the best performing day of 2014. Apple stock jumped up 2.72 percent on better than expected earnings. IBM continued yesterdays move down on disappointing earnings, dropping an additional 3.47 percent today. The Market volatility dropped double digits, for the third consecutive session. This is the first time in the history of the VIX, that it dropped double digits for three consecutive trading sessions. Again, fear in the Market has taken a vacation for the past few sessions. Confidence in the Market resurfaced in a strong way. The VIX closed down another 13 percent. The 10 year Treasury bond yield has been relatively stable, closing at a 2.21 percent yield. Trading volume was ok today, with about 7.3 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.


    October 21

    10:00 am Existing Home Sales report for September was 5.71M. The Market was expecting 5.11M. The prior reported figure was 5.05M.


    October 22

    7:00 am MBA Mortgage Index report for October 18

    8:30 am CPI report for September

    8:30 am Core CPI report for September

    10:30 am Crude Inventories report for October 18


    October 23

    8:30 am Initial Claims report for October 18

    8:30 am Continuing Claims report October 11

    9:00 am FHFA Housing Price Index for September

    10:00 am Leading Indicators report for September

    10:30 am Natural Gas Inventories report for October 18


    October 24

    10:00 am New Home Sales report for September

  • Market Rallies Higher in the Face of IBM’s Dismal Earnings


    DOW 16,399.67  +19.26 points or +0.12%
    S&P 500 1,904.01  +17.25 points or  +0.91%

    NASDAQ 4,316.07  +57.64 points or  +1.35%

    Russell 2000  1,094.97  +12.64 points or +1.17%


    The Monday Market opened slightly higher and continued to trade up for the remainder of the day into the close. The Dow opened negative on the disappointing IBM earnings report, and then managed to over come the IBM loss and close in positive territory for the day. The small caps outperformed once again, with the NASDAQ index closing up over 1.35 percent on the day. IBM dropped hard, beginning early in the day and remained down near the lows into the close. IBM traded down over 7 percent for the day on the earnings miss reporting $3.68/share vs $4.31/share expected. IBM’s loss contributed to about an 83 point loss in the Dow, due to the companies weighting in the index. Warren Buffet’s Berkshire Hathaway purchased a substantial position in IBM a while ago and it appears his profit on the position, after today’s pounding is now about flat. The Market volatility dropped for the third consecutive session, as fears of a huge Market collapse continue to subside, the VIX closed down another 15 percent. The 10 year Treasury bond yield closed at a 2.18 percent yield. Trading volume was light today, with about 6.4 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.


    October 21

    10:00 am Existing Home Sales report for September


    October 22

    7:00 am MBA Mortgage Index report for October 18

    8:30 am CPI report for September

    8:30 am Core CPI report for September

    10:30 am Crude Inventories report for October 18


    October 23

    8:30 am Initial Claims report for October 18

    8:30 am Continuing Claims report October 11

    9:00 am FHFA Housing Price Index for September

    10:00 am Leading Indicators report for September

    10:30 am Natural Gas Inventories report for October 18


    October 24

    10:00 am New Home Sales report for September