• S&P 500 Erases 2015 Losses on ECB Stimulus


    DOW 17,813.98  +259.70 points or  +1.48%
    S&P 500  2,063.15  +31.03 points  +1.53%

    NASDAQ  4,750.40  +82.98 points or  +1.78%

    Russell 2000  1,190.37  +24.12 points or  +2.07%

     

    The Stock Market sprinted higher erasing the S&P 500 indexes losses  for the year on the ECB stimulus plan. The Market opened slightly higher, dipped back into negative territory around 10 am ET, and then rallied strong the remainder of the day closing up near the days highs. The small cap sector, the Russell 2000 led the rally leaping up over 2 percent for the day. February Crude Oil futures rallied over 2 percent on the news that Saudi Arabia's King Abdullah died. His death gave some investors hope that the King's successor might change the King's oil supply policy and cut back production to help prop up crude oil prices. 

    The volatility index, the VIX,  plunged 13 percent to close down at 16.40 on the Market rally. The 10 Year Treasury bond yield jumped up to close around 1.90 percent. Trading volume saw about 7.8 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.


    January 20

    10:00 am NAHB Housing Market Index report for January was 57. The Market was expecting 58. The prior reported figure was revised from 57 to 58.


    January 21

    7:00 am MBA Mortgage Index report for January 17 was 14.2 percent. The prior reported for 49.1 percent.

    8:30 am Housing Starts report for December was 1089k. The Market was expecting 1040k. The prior reported figure was revised from 1028k to 1043k.

    8:30 am Building Permits report for December was 1032k. The Market was expecting 1060k. The prior reported figure was revised from 1035k to 1052k.


    January 22

    8:30 am Initial Claims report for January 17 was 307k. The Market was expecting 302k. The prior reported figure was revised from 316k to 317k.

    8:30 am Continuing Claims report for January 10 was 2443k. The Market was expecting 2400k. The prior reported figure was revised from 2424k to 2428k.

    9:00 am FHFA Housing Price Index report for November was 0.8 percent. The prior reported figure revised from 0.6 percent to 0.4 percent. 

    10:30 am Natural Gas Inventories report for January 17 was down -216bcf. The prior reported figure was down -236bcf.

    11:00 am Crude Inventories report for January 17 was  10.071M. The prior reported figure was 5.389M.


    January 23

    10:00 am Existing Home Sales report for December

    10:00 am Leading Indicators report for December 

  • Uneventful Trading Day on Shortened Holiday Week


    DOW 17,515.23  +3.66 points or  +0.02%
    S&P 500  2,022.55  +3.13 points  +0.15%

    NASDAQ  4,654.85  +20.46 points or  +0.44%

    Russell 2000  1,170.25  -6.40 points or  -0.54%

     

    The Stock Market began the short holiday week with an uneventful trading day closing slightly higher for the second consecutive day. The Market opened slightly higher, sold off and then rallied late in the day to close on the positive side. The rally was scattered. The large cap stocks were basically unchanged while the NASDAQ index enjoyed a decent day as opposed to the small cap sector which was down. The small cap Russell 2000 index was down -0.54 percent.  February Crude Oil futures slumped -5.26 percent to close down at $46.13 per barrel. The volatility index, the VIX,  shaved another 5.06 percent to close down at 19.89. The 10 Year Treasury bond yield slipped a bit to close around 1.81 percent. Trading volume saw about 7.3 billion shares changing hands across all trading venues, according to BATS exchange data. Tonight's State of the Union address should not adversely impact the Market. We shall see…

     

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


    January 20

    10:00 am NAHB Housing Market Index report for January was 57. The Market was expecting 58. The prior reported figure was revised from 57 to 58.


    January 21

    7:00 am MBA Mortgage Index report for January 17

    8:30 am Housing Starts report for December

    8:30 am Building Permits report for December


    January 22

    8:30 am Initial Claims report for January 17

    8:30 am Continuing Claims report for January 10

    9:00 am FHFA Housing Price Index report for November 

    10:30 am Natural Gas Inventories report for January 17

    11:00 am Crude Inventories report for January 17


    January 23

    10:00 am Existing Home Sales report for December

    10:00 am Leading Indicators report for December 




  • Stock Markets 5 Day Losing Streak Ends Friday With a Big Rally

    DOW 17,511.57  +190.86 points or  +1.10%
    S&P 500  2.019.42  +26.75 points  +1.34%

    NASDAQ  4,634.38  +63.56 points or  +1.39%

    Russell 2000  1,176.65  +21.95 points or  +1.90%

     

    The Stock Market ended a 5 day losing streak Friday with a big rally. The rally was broad led by the small cap sector. The Market opened higher, pulled back early in the session to the unchanged level, and then rallied for the remainder of the Friday trading session, to close near the highs of the day. February Crude Oil futures also jumped higher rallying up to the $48.48 per barrel level. The volatility index, the VIX,  slipped as the stock market rallied, losing 6.43 percent to close down at 20.95. The 10 Year Treasury bond yield bucked the down trend, moving up to around 1.82 percent. Trading volume saw about 7.7 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.


    January 13
    10:00 am JOLTS- Job Openings report for November was 4.972M. The prior reported figure was revised from 4.834M to 4.830M. 
    2:00 pm Treasury Budget report for December was $1.9B. The Market was expecting $3.0B. The prior reported figure was +$53.2B.

    January 14
    7:00 am MBA Mortgage Index report for January 10 was 49.1 percent. The prior reported figure was 11.1 percent. 
    8:30 am Retail Sales report for December was down -0.9 percent. The Market was expecting 0.1 percent. The prior reported figure was revised from 0.7 percent to 0.4 percent. 
    8:30 am Retail Sales ex-auto report for December was down -1.0 percent. The Market was expecting 0.1 percent. The prior reported figure was revised from 0.5 percent to 0.1 percent. 
    8:30 am Export Prices ex-agriculture report for December was down -1.2 percent. The prior reported figure was revised from down -1.2 percent to down -1.0 percent.
    8:30 am Import Prices ex-oil report for December was down -0.1 percent. The prior reported figure was down -0.2 percent to down -0.3 percent.
    10:00 am Business Inventories report for November was up 0.2 percent. The Market was expecting 0.3 percent. The prior reported figure was 0.2 percent. 
    10:30 am Crude Inventories report for January 10 was 5.389M. The prior reported figure was -3.062M.
    2:00 pm Feds Beige Book report for January stated the economies growth has been modest to moderate and that the board was generally optimistic about the economy in 2015. The Fed also expressed concern over consumer spending as well as the slump in crude oil prices. 

    January 15
    8:30 am Initial Claims report for January 10 was 316,000. The Market was expecting 290,000. The prior reported figure was revised from 294,000 to 297,000. 
    8:30 am Continuing Claims report for January 3 was 2424K. The Market was expecting 2400K. The prior reported figure was revised from 2452K to 2475K. 
    8:30 am PPI report for December was down -0.3 percent. The Market was expecting -0.4 percent. The prior reported figure was down -0.2 percent. 
    8:30 am Core PPI report for December was up 0.3 percent. The Market was expecting up 0.1 percent. The prior reported figure was flat.
    8:30 am Empire Manufacturing report for January was 9.9. The Market was expecting 6.5. The prior reported figure was revised down -3.6 to down -1.2.
    10:00 am Philadelphia Fed report for January was 6.3. The Market was expecting 19.0. The prior reported figure was revised from 24.5 to 24.3.
    10:30 am Natural Gas Inventories report for January 10 was down -236bcf. The prior reported figure was down -131bcf. 

    January 16
    8:30 am CPI report for December was down -0.4 percent. That was exactly in line with expectations. The prior reported figure was down -0.3 percent.
    8:30 am Core CPI report for December was flat. The Market was expecting 0.1 percent. The prior reported figure was also down 0.1 percent.
    9:15 am Industrial Production report for December was down -0.1 percent. That was exactly in line with Market expectations. The prior reported figure was down -1.3 percent. 
    9:15 am Capacity Utilization report for December was 79.7 percent. The Market was expecting 79.9 percent. The prior reported figure was revised from 80.1 percent to 80.0 percent.
    9:55 am Michigan Sentiment report for January was 98.2. The Market was expecting 94.1. The prior reported figure was 93.6.
    4:00 pm Net Long-Term TIC Flows report for November was $33.5B. The prior reported figure was down -$1.4B.
  • Stocks Down for 5th Consecutive Trading Day


    DOW 17,320.71  -106.38 points or  -0.61%
    S&P 500  1,992.67  -18.60 points  -0.92%

    NASDAQ  4,570.82  -68.50 points or  -1.48%

    Russell 2000  1,154.71  -22.35 points or  -1.90%

     

    The Stock Market closed down for the 5th consecutive trading session. It was another volatile day with the small cap equities getting smacked the hardest. The Market opened higher, sold off into negative territory, rallied back positive again, only to slide back down after 10:30 am and sell harder into the late afternoon closing near the lows of the day.  February Crude Oil futures went back to losing ground dropping 4.6 percent to close down at $46.25 per barrel. The volatility index, the VIX, ran up 4.24 percent to close up at 22.39. The 10 Year Treasury bond yield slid lower again, down to around 1.77 percent. Trading volume saw about 7.9 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.


    January 13
    10:00 am JOLTS- Job Openings report for November was 4.972M. The prior reported figure was revised from 4.834M to 4.830M. 
    2:00 pm Treasury Budget report for December was $1.9B. The Market was expecting $3.0B. The prior reported figure was +$53.2B.

    January 14
    7:00 am MBA Mortgage Index report for January 10 was 49.1 percent. The prior reported figure was 11.1 percent. 
    8:30 am Retail Sales report for December was down -0.9 percent. The Market was expecting 0.1 percent. The prior reported figure was revised from 0.7 percent to 0.4 percent. 
    8:30 am Retail Sales ex-auto report for December was down -1.0 percent. The Market was expecting 0.1 percent. The prior reported figure was revised from 0.5 percent to 0.1 percent. 
    8:30 am Export Prices ex-agriculture report for December was down -1.2 percent. The prior reported figure was revised from down -1.2 percent to down -1.0 percent.
    8:30 am Import Prices ex-oil report for December was down -0.1 percent. The prior reported figure was down -0.2 percent to down -0.3 percent.
    10:00 am Business Inventories report for November was up 0.2 percent. The Market was expecting 0.3 percent. The prior reported figure was 0.2 percent. 
    10:30 am Crude Inventories report for January 10 was 5.389M. The prior reported figure was -3.062M.
    2:00 pm Feds Beige Book report for January stated the economies growth has been modest to moderate and that the board was generally optimistic about the economy in 2015. The Fed also expressed concern over consumer spending as well as the slump in crude oil prices. 

    January 15
    8:30 am Initial Claims report for January 10 was 316,000. The Market was expecting 290,000. The prior reported figure was revised from 294,000 to 297,000. 
    8:30 am Continuing Claims report for January 3 was 2424K. The Market was expecting 2400K. The prior reported figure was revised from 2452K to 2475K. 
    8:30 am PPI report for December was down -0.3 percent. The Market was expecting -0.4 percent. The prior reported figure was down -0.2 percent. 
    8:30 am Core PPI report for December was up 0.3 percent. The Market was expecting up 0.1 percent. The prior reported figure was flat.
    8:30 am Empire Manufacturing report for January was 9.9. The Market was expecting 6.5. The prior reported figure was revised down -3.6 to down -1.2.
    10:00 am Philadelphia Fed report for January was 6.3. The Market was expecting 19.0. The prior reported figure was revised from 24.5 to 24.3.
    10:30 am Natural Gas Inventories report for January 10 was down -236bcf. The prior reported figure was down -131bcf. 

    January 16
    8:30 am CPU report for December
    8:30 am Core CPI report for December
    9:15 am Industrial Production report for December
    9:15 am Capacity Utilization report for December
    9:55 am Michigan Sentiment report for January
    4:00 pm Net Long-Term TIC Flows report for November