• S&P 500 Up 3.8% for August Sets Another New Record High Close


    DOW 17,098.45 +18.88 points or +0.11%
    S&P 500 2,003.37  +6.63 points or  +0.33%

    NASDAQ 4,580.27 +22.58 points or  +0.50%

    Russell 2000  1,174.35 +8.40 points or +0.72%

     

    The Market opened higher, sold off into negative territory,  rebounded mid morning and remained higher lifting the  S&P 500 up to a new record high close. The S&P 500 August performance was the best monthly performance since February posting a 3.8 percent gain. The S&P 500 has now enjoyed a positive performing month for 6 out of the past 7 months. Trading volume was approximately 3.8 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.


    August 25

    10:00 am New Home Sales report for July was 412,000. The Market was expecting 427,000. The prior reported figure was revised from 406,000 to 422,000.


    August 26

    8:30 am Durable Orders report for July was 22.6 percent. The Market was expecting 7.0 percent. The prior reported figure was revised from 1.7 percent to 2.7 percent. 

    8:30 am Durable Goods – ex transportation report for July was -0.8 percent. The Market was expecting 0.6 percent. The prior reported figure was revised from 1.9 percent to 3.0 percent. 

    9:00 am Case-Schiller 20-city Index report for June was 8.1 percent. The Market was expecting 8.3 percent. The prior reported figure was revised from 9.3 percent to 9.4 percent. 

    9:00 am FHFA Housing Price Index report for June was 0.4 percent. The prior reported figure was revised from 0.4 percent to 0.2 percent. 

    10:00 am Consumer Confidence report for August was 92.4. The Market was expecting 88.3. The prior reported figure was revised from 90.9 to 90.3.


    August 27

    7:00 am MBA Mortgage Index report for August 23 was 2.8 percent. The prior reported figure was 1.4 percent. 

    10:00 am Crude Inventories report for August 23 was -2.070M. The prior reported figure was -4.474M. 


    August 28

    8:30 am Initial Claims report for August 23 was 298,000. The Market was expecting 302,000. The prior reported figure was revised from 298,000 to 299,000.

    8:30 am Continuing Claims report for August 16 was 2,527,000. The Market was expecting 2,520,000. The prior reported figure was revised from 2,500,000 to 2,502,000. 

    8:30 am GDP Second Estimate report for 2nd Quarter was 4.2 percent. The Market was expecting 4.0 percent. The prior reported figure was 4.0 percent. 

    8:30 am GDP Deflator -Second Estimate report for 2nd Quarter was 2.1 percent. The Market was expecting 2.0 percent. The prior reported figure was also 2.0 percent. 

    10:00 am Pending Home Sales report for July was 3.3 percent. The Market was expecting 0.5 percent. The prior reported figure was -1.3 percent. 

    10:30 am Natural Gas Inventories report for August 23 was 75 bcf. The prior reported figure was 88 bcf.


    August 29

    8:30 am Personal Income report for July was 0.2 percent. The Market was expecting 0.3 percent. The prior reported figure was revised from 0.4 percent to 0.5 percent. 

    8:30 am Personal Spending report for July was -0.1 percent. The Market was expecting 0.1 percent. The prior reported figure was 0.4 percent.

    8:30 am PCE Prices -Core report for July was 0.1 percent. That was exactly in line with Market expectations. The prior reported figure was also 0.1 percent. 

    9:45 am Chicago PMI report for August was 64.3. The Market was expecting 54.8. The prior reported figure was 52.6.

    9:55 am Michigan Sentiment -Final report for August was 82.5. The Market was expecting 80.0. The prior reported figure was 79.2.

  • Market Pulls Back Slightly on Ukraine Concerns



    DOW 17,079.57 -42.44 points or -0.25%
    S&P 500 1,996.74  -3.38 points or  -0.17%

    NASDAQ 4,557.69 -11.93 points or  -0.26%

    Russell 2000  1,165.95 -6.76 points or -0.58%

     

    The Market opened lower on elevated Ukraine conflict concerns once again. The sell off was extremely mild and the elevated Ukraine conflict appeared to be more of an excuse for stocks to take a breather rather than a real concern for US equities.  

     Trading volume was approximately 4.2 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.


    August 25

    10:00 am New Home Sales report for July was 412,000. The Market was expecting 427,000. The prior reported figure was revised from 406,000 to 422,000.


    August 26

    8:30 am Durable Orders report for July was 22.6 percent. The Market was expecting 7.0 percent. The prior reported figure was revised from 1.7 percent to 2.7 percent. 

    8:30 am Durable Goods – ex transportation report for July was -0.8 percent. The Market was expecting 0.6 percent. The prior reported figure was revised from 1.9 percent to 3.0 percent. 

    9:00 am Case-Schiller 20-city Index report for June was 8.1 percent. The Market was expecting 8.3 percent. The prior reported figure was revised from 9.3 percent to 9.4 percent. 

    9:00 am FHFA Housing Price Index report for June was 0.4 percent. The prior reported figure was revised from 0.4 percent to 0.2 percent. 

    10:00 am Consumer Confidence report for August was 92.4. The Market was expecting 88.3. The prior reported figure was revised from 90.9 to 90.3.


    August 27

    7:00 am MBA Mortgage Index report for August 23 was 2.8 percent. The prior reported figure was 1.4 percent. 

    10:00 am Crude Inventories report for August 23 was -2.070M. The prior reported figure was -4.474M. 


    August 28

    8:30 am Initial Claims report for August 23 was 298,000. The Market was expecting 302,000. The prior reported figure was revised from 298,000 to 299,000.

    8:30 am Continuing Claims report for August 16 was 2,527,000. The Market was expecting 2,520,000. The prior reported figure was revised from 2,500,000 to 2,502,000. 

    8:30 am GDP Second Estimate report for 2nd Quarter was 4.2 percent. The Market was expecting 4.0 percent. The prior reported figure was 4.0 percent. 

    8:30 am GDP Deflator -Second Estimate report for 2nd Quarter was 2.1 percent. The Market was expecting 2.0 percent. The prior reported figure was also 2.0 percent. 

    10:00 am Pending Home Sales report for July was 3.3 percent. The Market was expecting 0.5 percent. The prior reported figure was -1.3 percent. 

    10:30 am Natural Gas Inventories report for August 23 was 75 bcf. The prior reported figure was 88 bcf.


    August 29

    8:30 am Personal Income report for July

    8:30 am Personal Spending report for July

    8:30 am PCE Prices -Core report for July

    9:45 am Chicago PMI report for August

    9:55 am Michigan Sentiment -Final report for August


  • S&P 500 Squeaks Out New Record Close


    DOW 17,122.01 +15.31 points or +0.09%
    S&P 500 2,000.12  +0.10 points or  +0.00%

    NASDAQ 4,569.62 -1.02 points or  -0.02%

    Russell 2000  1,172.71 -2.46 points or -0.21%

     

    The Market opened basically unchanged and drifted sideways all day and closed unchanged. The S&P 500 managed to squeeze out an uptick to close positive to give the S&P 500 another record close. 

     Trading volume was approximately 4.3 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.


    August 25

    10:00 am New Home Sales report for July was 412,000. The Market was expecting 427,000. The prior reported figure was revised from 406,000 to 422,000.


    August 26

    8:30 am Durable Orders report for July was 22.6 percent. The Market was expecting 7.0 percent. The prior reported figure was revised from 1.7 percent to 2.7 percent. 

    8:30 am Durable Goods – ex transportation report for July was -0.8 percent. The Market was expecting 0.6 percent. The prior reported figure was revised from 1.9 percent to 3.0 percent. 

    9:00 am Case-Schiller 20-city Index report for June was 8.1 percent. The Market was expecting 8.3 percent. The prior reported figure was revised from 9.3 percent to 9.4 percent. 

    9:00 am FHFA Housing Price Index report for June was 0.4 percent. The prior reported figure was revised from 0.4 percent to 0.2 percent. 

    10:00 am Consumer Confidence report for August was 92.4. The Market was expecting 88.3. The prior reported figure was revised from 90.9 to 90.3.


    August 27

    7:00 am MBA Mortgage Index report for August 23 was 2.8 percent. The prior reported figure was 1.4 percent. 

    10:00 am Crude Inventories report for August 23 was -2.070M. The prior reported figure was -4.474M. 


    August 28

    8:30 am Initial Claims report for August 23

    8:30 am Continuing Claims report for August 16

    8:30 am GDP Second Estimate report for 2nd Quarter

    8:30 am GDP Deflator -Second Estimate report for 2nd Quarter

    10:00 am Pending Home Sales report for July 

    10:30 am Natural Gas Inventories report for August 23


    August 29

    8:30 am Personal Income report for July

    8:30 am Personal Spending report for July

    8:30 am PCE Prices -Core report for July

    9:45 am Chicago PMI report for August

    9:55 am Michigan Sentiment -Final report for August


  • S&P 500 Closes Over 2000 at Another New High




    DOW 17,106.70 +29.83 points or +0.17%
    S&P 500 2,000.02  +2.10 points or  +0.11%

    NASDAQ 4,570.64 +13.29 points or  +0.29%

    Russell 2000  1,175.17 +9.95 points or +0.85%

     

    The Market basically opened slightly higher and drifted sideways remaining up near the morning highs into the close. This small rally pushed the S&P 500 to another new all time high. It also pushed the S&P 500 over the much media hyped and meaningless 2000 barrier. Trading volume was approximately 4.5 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.


    August 25

    10:00 am New Home Sales report for July was 412,000. The Market was expecting 427,000. The prior reported figure was revised from 406,000 to 422,000.


    August 26

    8:30 am Durable Orders report for July was 22.6 percent. The Market was expecting 7.0 percent. The prior reported figure was revised from 1.7 percent to 2.7 percent. 

    8:30 am Durable Goods – ex transportation report for July was -0.8 percent. The Market was expecting 0.6 percent. The prior reported figure was revised from 1.9 percent to 3.0 percent. 

    9:00 am Case-Schiller 20-city Index report for June was 8.1 percent. The Market was expecting 8.3 percent. The prior reported figure was revised from 9.3 percent to 9.4 percent. 

    9:00 am FHFA Housing Price Index report for June was 0.4 percent. The prior reported figure was revised from 0.4 percent to 0.2 percent. 

    10:00 am Consumer Confidence report for August was 92.4. The Market was expecting 88.3. The prior reported figure was revised from 90.9 to 90.3.


    August 27

    7:00 am MBA Mortgage Index report for August 23

    10:00 am Crude Inventories report for August 23


    August 28

    8:30 am Initial Claims report for August 23

    8:30 am Continuing Claims report for August 16

    8:30 am GDP Second Estimate report for 2nd Quarter

    8:30 am GDP Deflator -Second Estimate report for 2nd Quarter

    10:00 am Pending Home Sales report for July 

    10:30 am Natural Gas Inventories report for August 23


    August 29

    8:30 am Personal Income report for July

    8:30 am Personal Spending report for July

    8:30 am PCE Prices -Core report for July

    9:45 am Chicago PMI report for August

    9:55 am Michigan Sentiment -Final report for August