• Market Ends September Lower and the Quarter Higher Ebay Jumps on PayPal Spinoff



    DOW 17,042.90  -28.32 points or -0.17%
    S&P 500 1,972.29  -5.51 points or  -0.28%

    NASDAQ 4,493.39  -12.46 points or  -0.28%

    Russell 2000  1,101.68  -16.23 points or -1.45%

     

    On the final trading day of the quarter, the Market traded lower in the morning, rallied to positive territory and faded in afternoon trading to close down on the day.  The Market was lower for the month of September, yet ended positive for the quarter with the Dow up 1.3 percent, the S&P gained 0.3 percent and the NASDAQ rose 1.9 percent. Ebay was the star stock of the day, jumping up 7.5 percent after the company announced their plan to spin off the PayPal division. The 10 year Treasury bond yield closed at about a 2.51 percent yield for the day. Trading volume was approximately 7.2 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.


    September 29

    8:30 am Personal Income report for August was 0.3 percent. That was exactly in line with Market expectations. The prior reported figure was 0.2 percent. 

    8:30 am Personal Spending report for August was 0.5 percent. The Market was expecting 0.4 percent. The prior reported figure was revised from -0.1 percent to flat.

    8:30 am PCE Prices-Core report for August was 0.1 percent. The Market was expecting a flat report. The prior reported figure was 0.1 percent.  

    10:00 am Pending Home Sales report for August was -1.0 percent. The Market was expecting -0.2 percent. The prior reported figure was revised from 3.3 percent to 3.2 percent. 


    September 30

    9:00 am Case-Shiller 20-city Index report for July was 6.7 percent. The Market was expecting 7.4 percent. The prior reported figure was 8.1 percent. 

    9:45 am Chicago PMI report for September was 60.5. The Market was expecting 61.5. The prior reported figure was 64.3.

    10:00 am Consumer Confidence report for September was 86. The Market was expecting 92. The prior reported figure was revised from 92.4 to 93.4.


    October 1 

    7:00 am MBA Mortgage Index report for September 27

    8:15 am ADP Employment Change report for September

    10:00 am ISM Index report for September

    10:00 am Construction Spending report for August

    10:30 am Crude Inventories report for September 27

    2:00 pm Auto Sales report for September

    2:00 pm Truck Sales report for September


    October 2

    7:30 am Challenger Job Cuts report for September

    8:30 am Initial Claims report for September 27

    8:30 am Continuing Claims report for September 20

    10:00 am Factory Orders report for August

    10:30 am Natural Gas Inventories report for September 27


    October 3

    8:30 am Nonfarm Payrolls report for September 

    8:30 am Nonfarm Private Payrolls report for September

    8:30 am Unemployment Rate for September

    8:30 am Hourly Earnings report for September

    8:30 am Average Workweek report for September

    8:30 am Trade Balance report for August

    10:00 am ISM Services report for September

  • Down Monday Market



    DOW 17,071.22  -41.93 points or -0.25%
    S&P 500 1,977.80  -5.05 points or  -0.25%

    NASDAQ 4,505.85  -6.34 points or  -0.14%

    Russell 2000  1,117.91  -1.42 points or -0.13%

     

    The Market opened much lower in early Monday morning trading, bottomed out, and then slowly erased a big chunk of the losses to close mildly down on the day. The 10 year Treasury bond yield closed lower at about a 2.49 percent yield for the day. Trading volume was approximately 5.97 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.


    September 29

    8:30 am Personal Income report for August was 0.3 percent. That was exactly in line with Market expectations. The prior reported figure was 0.2 percent. 

    8:30 am Personal Spending report for August was 0.5 percent. The Market was expecting 0.4 percent. The prior reported figure was revised from -0.1 percent to flat.

    8:30 am PCE Prices-Core report for August was 0.1 percent. The Market was expecting a flat report. The prior reported figure was 0.1 percent.  

    10:00 am Pending Home Sales report for August was -1.0 percent. The Market was expecting -0.2 percent. The prior reported figure was revised from 3.3 percent to 3.2 percent. 


    September 30

    9:00 am Case-Shiller 20-city Index report for July 

    9:45 am Chicago PMI report for September

    10:00 am Consumer Confidence report for September


    October 1 

    7:00 am MBA Mortgage Index report for September 27

    8:15 am ADP Employment Change report for September

    10:00 am ISM Index report for September

    10:00 am Construction Spending report for August

    10:30 am Crude Inventories report for September 27

    2:00 pm Auto Sales report for September

    2:00 pm Truck Sales report for September


    October 2

    7:30 am Challenger Job Cuts report for September

    8:30 am Initial Claims report for September 27

    8:30 am Continuing Claims report for September 20

    10:00 am Factory Orders report for August

    10:30 am Natural Gas Inventories report for September 27


    October 3

    8:30 am Nonfarm Payrolls report for September 

    8:30 am Nonfarm Private Payrolls report for September

    8:30 am Unemployment Rate for September

    8:30 am Hourly Earnings report for September

    8:30 am Average Workweek report for September

    8:30 am Trade Balance report for August

    10:00 am ISM Services report for September

















  • S&P 500 Rallies Recovering About Half of Thursdays Losses

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    DOW 17,113.15  +167.35 points or +0.99%
    S&P 500 1,982.85  +16.86 points or  +0.86%

    NASDAQ 4,512.19  +45.45 points or  +1.02%

    Russell 2000  1,119.33  +9.09 points or +0.82%

     

    The Market opened higher and continued to rally all day closing slightly off the days highs. The S&P 500 rally recovered about half of Thursdays losses. The 10 year Treasury bond yield closed lower at about a 2.54 percent yield for the day. Trading volume was approximately 5.5 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.


    September 22
    10:00 am Existing Home Sales report for Aug was 5.05M. The Market was expecting 5.2M. The prior reported figure was revised from 5.15M to 5.14M.

    September 23
    9:00 am FHFA Housing Price Index report for July was 0.1 percent. The prior reported figure was revised from 5.15M to 5.14M. 

    September 24
    7:00 am MBA Mortgage Index report for September 20 was -4.1 percent. The prior reported figure was 7.9 percent. 
    10:00 am New Home Sales report for August was 504,000. The Market was expecting 435,000. The prior reported figure was revised from 412,000 to 427,000. 
    10:30 am Crude Inventories report for September 20 was -4.273M. The prior reported figure was +3.67M. 

    September 25
    8:30 am Initial Claims report for September 20 was 293,000. The Market expected 300,000. The prior reported figure was revised from 280,000 to 281,000.
    8:30 am Continuing Claims report for September 13 was 2,439,000. The Market was expecting 2,470,000. The prior reported figure was revised from 2,429,000 to 2,432,000.
    8:30 am Durable Orders report for August was -18.2 percent. The Market was expecting -16.3 percent. The prior reported figure was revised 22.6 percent to 22.5 percent.
    8:30 am Durable Goods-ex transportation report for August was 0.7 percent. That was exactly in line with Market expectations. The prior reported figure was revised from -0.7 percent to -0.5 percent. 
    10:30 am Natural Gas Inventories report for September 20 was 97 bcf. The prior reported figure was 90 bcf. 

    September 26
    8:30 am GDP-Third Estimate report for 2nd Quarter was 4.6 percent. That was exactly in line with Market expectations. The prior reported figure was 4.2 percent. 
    8:30 am GDP Deflator-Third Estimate report for 2nd Quarter was 2.1 percent. That was exactly in line with Market expectations. The prior reported figure was also 2.1 percent. 
    9:55 am Michigan Sentiment-Final report for September was 84.6. The Market was expecting 85.0.  The prior reported figure was 84.6.











  • Market Hit Hard Dropping Over 1.5%

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    DOW 16,945.80  -264.26 points or -1.54%
    S&P 500 1,965.99  -32.31 points or  -1.62%

    NASDAQ 4,466.75  -88.47 points or  -1.94%

    Russell 2000  1,110.24  -18.07 points or -1.60%

     

    The Market opened lower and proceeded to sell off all day, wiping out yesterdays gains and much more. The selling was broad, all indexes were hit hard off by over 1.5 percent. The 10 year Treasury bond yield closed lower at about a 2.51 percent yield for the day. Trading volume was approximately 6.1 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.


    September 22
    10:00 am Existing Home Sales report for Aug was 5.05M. The Market was expecting 5.2M. The prior reported figure was revised from 5.15M to 5.14M.

    September 23
    9:00 am FHFA Housing Price Index report for July was 0.1 percent. The prior reported figure was revised from 5.15M to 5.14M. 

    September 24
    7:00 am MBA Mortgage Index report for September 20 was -4.1 percent. The prior reported figure was 7.9 percent. 
    10:00 am New Home Sales report for August was 504,000. The Market was expecting 435,000. The prior reported figure was revised from 412,000 to 427,000. 
    10:30 am Crude Inventories report for September 20 was -4.273M. The prior reported figure was +3.67M. 

    September 25
    8:30 am Initial Claims report for September 20 was 293,000. The Market expected 300,000. The prior reported figure was revised from 280,000 to 281,000.
    8:30 am Continuing Claims report for September 13 was 2,439,000. The Market was expecting 2,470,000. The prior reported figure was revised from 2,429,000 to 2,432,000.
    8:30 am Durable Orders report for August was -18.2 percent. The Market was expecting -16.3 percent. The prior reported figure was revised 22.6 percent to 22.5 percent.
    8:30 am Durable Goods-ex transportation report for August was 0.7 percent. That was exactly in line with Market expectations. The prior reported figure was revised from -0.7 percent to -0.5 percent. 
    10:30 am Natural Gas Inventories report for September 20 was 97 bcf. The prior reported figure was 90 bcf. 

    September 26
    8:30 am GDP-Third Estimate report for 2nd Quarter
    8:30 am GDP Deflator-Third Estimate report for 2nd Quarter
    9:55 am Michigan Sentiment-Final report for September