• Market Rallies, Led By Visa



    DOW 17,195.42  +221.11 points or +1.30%
    S&P 500 1,994.65  +12.35 points or  +0.62%

    NASDAQ 4,566.14  +16.91 points or  +0.37%

    Russell 2000  1,155.77  +9.40 points or  +0.82%


    The Market rallied once again. The Dow outperformed the other indexes by a mile. About half of the Dow’s rally is attributed to Visa, which has a high weighting in the Dow, up over 10 percent on strong earnings, a $5 billion stock buyback announcement as well as the ability to now offer their services in the huge Chinese market. There was continued debate today over when the Federal Reserve will raise rates. The Markets action appears to be telling us that rates will remain low a long time. The VIX dropped over 4 percentThe 10 year Treasury bond yield slipped slightly, closing at a 2.30 percent yield. Trading volume was about 6.9 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 27

    10:00 am Pending Home Sales report for September was up 0.3 percent. The Market was expecting 0.5 percent. The prior reported figure was -1.0 percent. 


    October 28

    8:30 am Durable Orders report for September was -1.3 percent. The Market was expecting 0.6 percent. The prior reported figure was revised from -18.4 percent to -18.3 percent. 

    8:30 am Durable Goods -ex transportation report for September was -0.2 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from 0.4 percent to 0.7 percent. 

    9:00 am Case-Schiller 20-city Index report for August was 5.6 percent. The Market was expecting 5.5 percent. The prior reported figure was 6.7 percent. 

    10:00 am Consumer Confidence report for October was 94.5. The Market was expecting 87.2. The prior reported figure was revised from 86 to 89.


    October 29

    7:00 am MBA Mortgage Index report for October 25 was down -6.6 percent. The prior reported figure was up 11.6 percent. 

    10:30 am Crude Inventories report for October 25 was 2.061M. The prior reported figure was 7.111M.

    2:00 pm FOMC Rate Decision report for October was to leave rates unchanged at the current 0.25 percent level. 


    October 30

    8:30 am Initial Claims report for October 25 was 287,000. The Market was expecting 284,000. The prior reported figure was revised from 283,000 to 284,000. 

    8:30 am Continuing Claims report for October 18 was 2,384,000. The Market was expecting 2,375,000. The prior reported figure was revised from 2,351,000 to 2,355,000. 

    8:30 am GDP-Adv report for 3rd Quarter was up 3.5 percent. The Market was expecting 3.0 percent. The prior reported figure was 4.6 percent. 

    8:30 am Chain Deflator-Adv report for 3rd Quarter was 1.3 percent. The Market was expecting 1.5 percent. The prior reported figure was 2.1 percent. 

    10:30 am Natural Gas Inventories report for October 25 was 87bcf. The prior reported figure 94bcf.


    October 31

    8:30 am Personal Income report for September

    8:30 am Personal Spending report for September

    8:30 am PCE Prices-Core report for September

    8:30 am Employment Cost Index report for 3rd Quarter

    9:45 am Chicago PMI report for October

    9:55 am Michigan Sentiment-Final report for October

  • Market Down Slightly as Federal Reserves QE Bond Buying Ends


    DOW 16,974.31  -31.44 points or -0.18%
    S&P 500 1,982.30  -2.75 points or  -0.14%

    NASDAQ 4,549.23  -15.07 points or  -0.33%

    Russell 2000  1,146.37  -3.08 points or -0.27%


    The Market opened higher, dipped into negative territory around 12 noon ET, and then dropped hard after the Federal Reserve released statements that shed light on a more optimistic view of the economy than many economists and analysts had been expecting. This had some believing that interest may go be raised sooner than many had thought just yesterday. The Federal Reserve also stated that it did officially end the $4 billion QE bond buying stimulus program. The Federal Reserve continued to state that it does see interest rates remaining low for an extended period of time.  The VIX popped higher, moving up +5.28 percent reflecting a drop in fear in the Market. The 10 year Treasury bond yield jumped higher, closing at a 2.32 percent yield. Trading volume was 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 27

    10:00 am Pending Home Sales report for September was up 0.3 percent. The Market was expecting 0.5 percent. The prior reported figure was -1.0 percent. 


    October 28

    8:30 am Durable Orders report for September was -1.3 percent. The Market was expecting 0.6 percent. The prior reported figure was revised from -18.4 percent to -18.3 percent. 

    8:30 am Durable Goods -ex transportation report for September was -0.2 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from 0.4 percent to 0.7 percent. 

    9:00 am Case-Schiller 20-city Index report for August was 5.6 percent. The Market was expecting 5.5 percent. The prior reported figure was 6.7 percent. 

    10:00 am Consumer Confidence report for October was 94.5. The Market was expecting 87.2. The prior reported figure was revised from 86 to 89.


    October 29

    7:00 am MBA Mortgage Index report for October 25 was down -6.6 percent. The prior reported figure was up 11.6 percent. 

    10:30 am Crude Inventories report for October 25 was 2.061M. The prior reported figure was 7.111M.

    2:00 pm FOMC Rate Decision report for October was to leave rates unchanged at the current 0.25 percent level. 


    October 30

    8:30 am Initial Claims report for October 25

    8:30 am Continuing Claims report for October 18

    8:30 am GDP-Adv report for 3rd Quarter

    8:30 am Chain Deflator-Adv report for 3rd Quarter

    10:30 am Natural Gas Inventories report for October 25


    October 31

    8:30 am Personal Income report for September

    8:30 am Personal Spending report for September

    8:30 am PCE Prices-Core report for September

    8:30 am Employment Cost Index report for 3rd Quarter

    9:45 am Chicago PMI report for October

    9:55 am Michigan Sentiment-Final report for October

  • Market Rallies Over 1% Higher; Facebook and Twitter Stocks Get Hammered



    DOW 17,005.75  +187.81 points or +1.12%
    S&P 500 1,985.05  +23.42 points or  +1.19%

    NASDAQ 4,564.29  +78.36 points or  +1.75%

    Russell 2000  1,149.45  +31.98 points or +2.86%


    The Market opened higher, drifted sideways holding the gains until 1:30 pm ET, when the Market rallied further closing up near the days highs. The rally was broad, with all sectors both large and small cap moving higher. The small cap Russell 2000 led all indexes rallying up almost 3 percent. Even though Twitter’s earnings came in line with expectations, the stock was hammered today dropping almost 10 percent on Twitters own weaker forecast for the coming quarter. Facebook stock was clocked in post close trading dropping over 8 percent after the company reported revenues slightly better than expectations. The VIX dropped as the Market rallied, moving down -0.43 percent reflecting a drop in fear in the Market. The 10 year Treasury bond yield closed at a 2.28 percent yield. Trading volume was about 6.8 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.


    October 27

    10:00 am Pending Home Sales report for September was up 0.3 percent. The Market was expecting 0.5 percent. The prior reported figure was -1.0 percent. 


    October 28

    8:30 am Durable Orders report for September was -1.3 percent. The Market was expecting 0.6 percent. The prior reported figure was revised from -18.4 percent to -18.3 percent. 

    8:30 am Durable Goods -ex transportation report for September was -0.2 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from 0.4 percent to 0.7 percent. 

    9:00 am Case-Schiller 20-city Index report for August was 5.6 percent. The Market was expecting 5.5 percent. The prior reported figure was 6.7 percent. 

    10:00 am Consumer Confidence report for October was 94.5. The Market was expecting 87.2. The prior reported figure was revised from 86 to 89.


    October 29

    7:00 am MBA Mortgage Index report for October 25

    10:30 am Crude Inventories report for October 25

    2:00 pm FOMC Rate Decision report for October


    October 30

    8:30 am Initial Claims report for October 25

    8:30 am Continuing Claims report for October 18

    8:30 am GDP-Adv report for 3rd Quarter

    8:30 am Chain Deflator-Adv report for 3rd Quarter

    10:30 am Natural Gas Inventories report for October 25


    October 31

    8:30 am Personal Income report for September

    8:30 am Personal Spending report for September

    8:30 am PCE Prices-Core report for September

    8:30 am Employment Cost Index report for 3rd Quarter

    9:45 am Chicago PMI report for October

    9:55 am Michigan Sentiment-Final report for October 

  • After a Wild Few Weeks, Market Closed Unchanged Today

    DOW 16,817.94  +12.53 points or +0.07%
    S&P 500 1,961.63  -2.95 points or  -0.15%

    NASDAQ 4,485.93  +2.22 points or  +0.05%

    Russell 2000  1,117.48  -1.35 points or -0.12%


    After a few weeks of wild roller coaster action, the Market slowed down today and opened lower, rallied to the unchanged level, and proceeded to hug the unchanged territory for the remainder of the day. The VIX was basically unchanged today as well, moving down -0.43 percent.  The Federal Reserve is expected to end the QE bond buying program this week. The 10 year Treasury bond yield closed 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.


    October 27

    10:00 am Pending Home Sales report for September was up 0.3 percent. The Market was expecting 0.5 percent. The prior reported figure was -1.0 percent. 


    October 28

    8:30 am Durable Orders report for September

    8:30 am Durable Goods -ex transportation report for September

    9:00 am Case-Schiller 20-city Index report for August

    10:00 am Consumer Confidence report for October


    October 29

    7:00 am MBA Mortgage Index report for October 25

    10:30 am Crude Inventories report for October 25

    2:00 pm FOMC Rate Decision report for October


    October 30

    8:30 am Initial Claims report for October 25

    8:30 am Continuing Claims report for October 18

    8:30 am GDP-Adv report for 3rd Quarter

    8:30 am Chain Deflator-Adv report for 3rd Quarter

    10:30 am Natural Gas Inventories report for October 25


    October 31

    8:30 am Personal Income report for September

    8:30 am Personal Spending report for September

    8:30 am PCE Prices-Core report for September

    8:30 am Employment Cost Index report for 3rd Quarter

    9:45 am Chicago PMI report for October

    9:55 am Michigan Sentiment-Final report for October