• Stock Market Takes a Rally Rest



    DOW 18,214.42  -10.15 points or  -0.06%
    S&P 500  2,110.74  -3.12 points  -0.15%

    NASDAQ  4,987.89  +20.75 points or  +0.42%

    Russell 2000  1,239.11  +4.01 points or  +0.32%

     

    The Stock Market pulled back, taking a rest from the recent strong rallies. The Market opened lower, traded near the unchanged level most of the day and closed basically unchanged with a negative bias. Crude Oil resumed sliding lower, dropping down near the $48 per barrel level. The volatility index, the VIX, was basically unchanged, closing at 13.91. The 10 Year Treasury bond yield closed around 2.2  percent. Trading volume saw about 6.5 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.


    February 23

    10:00 AM Existing Home Sales report for January was 4.82M. The Market was expecting 4.95M. The prior reported figure was revised from 5.04M to 5.07M.


    February 24

    9:00 AM Case-Schiller 20-city Index report for December was 4.5 percent. The Market was expecting 4.3 percent. The prior reported figure was 4.3 percent. 

    10:00 AM Consumer Confidence report for February was 96.4. The Market was expecting 99.6. The prior reported figure was revised from 102.9 to 103.8.


    February 25

    7:00 AM MBA Mortgage Index report for February 21 was -3.5 percent. The prior reported figure was -13.2 percent. 

    10:00 AM New Home Sales report for January was 481K. The Market was expecting 470K. The prior reported figure was revised from 481K to 482K.

    10:30 AM Crude Inventories report for February 21 was 8.427M. The prior reported figure was 7.716M. 


    February 26

    8:30 AM Initial Claims report for February 21 was 313K. The Market was expecting 290K. The prior reported figure was revised from 283K to 282K.

    8:30 AM Continuing Claims report for February 14 was 2401K. The Market was expecting 2400K. The prior reported figure was revised from 2425K to 2422K.

    8:30 AM CPI report for January was -0.7 percent. The Market was expecting -0.6 percent. The prior reported figure was revised from -0.4 percent to -0.3 percent. 

    8:30 AM Core CPI report for January was 0.2 percent. The Market was expecting 0.1 percent. The prior reported figure was revised from flat to 0.1 percent. 

    8:30 AM Durable Orders report for January was 2.8 percent. The Market was expecting 1.7 percent. The prior reported figure was revised from -3.3 percent to -3.7 percent. 

    8:30 AM Durable Goods-ex transportation report for January was 0.3 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from -0.8 percent to -0.9 percent. 

    9:00 AM FHFA Housing Price Index report for December was 0.8 percent. The prior reported figure was revised from 0.8 percent to 0.7 percent. 

    10:30 AM Natural Gas Inventories report for February 21 was -219bcf. The prior reported figure was -111bcf.


    February 27

    8:30 AM GDP-Second Estimate report for Quarter 4

    8:30 AM GDP Deflator-Second Estimate Quarter 4

    9:45 AM Chicago PMI report for February 

    10:00 AM Michigan Sentiment-Final report for February

    10:00 AM Pending Home Sales report for January

  • Stock Market Rallies on Fed Chair Yellen’s Dovish Rate Testimony


    DOW 18,209.19  +92.35 points or  +0.51%
    S&P 500  2,115.48  +5.82 points  +0.28%

    NASDAQ  4,968.12  +7.15 points or  +0.14%

    Russell 2000  1,233.98  +2.15 points or  +0.17%

     

    The Stock Market rallied upon hearing Federal Reserve Chair Janet Yellen's dovish rate testimony. The Market opened lower, rallied into positive territory around 10 am ET, and remained modestly higher throughout the day closing off the days high. Crude Oil was stable today, hovering around the $49.25 per barrel level. The volatility index, the VIX, melted again, losing -5.98 percent to close at 13.69.  The 10 Year Treasury bond yield dropped down to 1.99  percent as Janet Yellen's testimony revealed her continued dovish rate policy. Trading volume saw 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.


    February 23

    10:00 AM Existing Home Sales report for January was 4.82M. The Market was expecting 4.95M. The prior reported figure was revised from 5.04M to 5.07M.


    February 24

    9:00 AM Case-Schiller 20-city Index report for December was 4.5 percent. The Market was expecting 4.3 percent. The prior reported figure was 4.3 percent. 

    10:00 AM Consumer Confidence report for February was 96.4. The Market was expecting 99.6. The prior reported figure was revised from 102.9 to 103.8.


    February 25

    7:00 AM MBA Mortgage Index report for February 21 

    10:00 AM New Home Sales report for January 

    10:30 AM Crude Inventories report for February 21


    February 26

    8:30 AM Initial Claims report for February 21

    8:30 AM Continuing Claims report for February 14

    8:30 AM CPI report for January

    8:30 AM Core CPI report for January

    8:30 AM Durable Orders report for January

    8:30 AM Durable Goods-ex transportation report for January

    9:00 AM FHFA Housing Price Index report for December

    10:30 AM Natural Gas Inventories report for February 21


    February 27

    8:30 AM GDP-Second Estimate report for Quarter 4

    8:30 AM GDP Deflator-Second Estimate Quarter 4

    9:45 AM Chicago PMI report for February 

    10:00 AM Michigan Sentiment-Final report for February

    10:00 AM Pending Home Sales report for January

  • Stock Market Opens the Week Slightly Lower in a Dull Trading Session



    DOW 18,116.84  -23.60 points or  -0.13%
    S&P 500  2,109.66  -0.64 points  -0.03%

    NASDAQ  4,960.97  -5.00 points or  +0.10%

    Russell 2000  1,231.83  +0.04 points or  +0.00%

     

    The Stock Market began the week slightly lower in a light volume, dull trading session. The Market opened lower, and traded in a small range slightly in negative territory all day and into the close. Crude Oil slid again, dragging the price down back below the $50 per barrel range. The volatility index, the VIX, climbed slightly, moving up 1.82 percent to close 14.56. The 10 Year Treasury bond yield closed around the 2.06 percent yield level. Trading volume saw about 5.9 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.


    February 23

    10:00 AM Existing Home Sales report for January was 4.82M. The Market was expecting 4.95M. The prior reported figure was revised from 5.04M to 5.07M.


    February 24

    9:00 AM Case-Schiller 20-city Index report for December

    10:00 AM Consumer Confidence report for February 


    February 25

    7:00 AM MBA Mortgage Index report for February 21

    10:00 AM New Home Sales report for January 

    10:30 AM Crude Inventories report for February 21


    February 26

    8:30 AM Initial Claims report for February 21

    8:30 AM Continuing Claims report for February 14

    8:30 AM CPI report for January

    8:30 AM Core CPI report for January

    8:30 AM Durable Orders report for January

    8:30 AM Durable Goods-ex transportation report for January

    9:00 AM FHFA Housing Price Index report for December

    10:30 AM Natural Gas Inventories report for February 21


    February 27

    8:30 AM GDP-Second Estimate report for Quarter 4

    8:30 AM GDP Deflator-Second Estimate Quarter 4

    9:45 AM Chicago PMI report for February 

    10:00 AM Michigan Sentiment-Final report for February

    10:00 AM Pending Home Sales report for January




















  • Stock Market Closes the Week Strong



    DOW 18,140.44  154.67 points or  +0.86%
    S&P 500  2,110.30  +12.85 points  +0.61%

    NASDAQ  4,955.97  +31.27 points or  +0.63%

    Russell 2000  1,231.79  +3.88 points or  +0.32%

     

    The Stock Market ended the week with s strong rally. The Market opened lower, and then slowly moved higher crossing into positive territory around 1pm ET, and closed strong near the days high. 

    Crude Oil closed around the $52.03 per barrel level. The volatility index, the VIX, lost -6.47 percent to close down at 14.30. The 10 Year Treasury bond yield closed around the 2.13 percent yield level. Trading volume saw about 6.3 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.


    February 17

    8:30 AM Empire Manufacturing report for February was 7.8. The Market was expecting 9.0. The prior reported figure was 9.9. 

    10:00 AM NAHB Housing Market Index report for February was 55. The Market was expecting 58. The prior reported figure was 57.

    4:00 PM Net Long-Term TIC Flows report for December


    February 18

    7:00 AM MBA Mortgage Index report for February 14 was down -13.2 percent. The prior reported figure was down -9.0 percent. 

    8:30 AM Housing Starts report for January was 1065K. The Market was expecting 1070K. The prior reported figure was revised from 1089K to 1087K.

    8:30 AM Building Permits report for January was 1053K. The Market was expecting 1065K. The prior reported figure was revised from 1032K to 1060K. 

    8:30 AM PPI report for January was down -0.8 percent. The Market was expecting -0.4 percent. The prior reported figure was revised from down -0.3 percent to down -0.1 percent. 

    8:30 AM Core PPI report for January was down -0.1 percent. The Market was expecting 0.1 percent. The prior reported figure was 0.3 percent. 

    9:15 AM  Capacity Utilization report for January was 79.4 percent. The Market was expecting 79.9 percent. The prior reported figure was revised from 79.7 percent to 79.4 percent. 

    9:15 AM Industrial Production report for January  was 0.2 percent. The Market was expecting 0.4 percent. The prior reported figure was revised from down -0.1 percent to down -0.3 percent. 

    2:00 PM FOMC Minutes report for January 28 suggested that the road to raising interest rates would be slow. 


    February 19

    8:30 AM Initial Claims report for February 14 was 283K. The Market was expecting 295K. The prior reported figure was 304K.

    8:30 AM Continuing Claims report for February 7 was 2425K. The Market was expecting 2385K. The prior reported figure was revied from 2354K to 2367K.

    10>00 AM Philadelphia Fed report for February was 5.2. The Market was expecting 8.5. The prior reported figure was 6.3.

    10:00 AM Leading Indicators report for January was 0.2 percent. The Market was expecting 0.3 percent. The prior reported figure was revised from 0.5 percent to 0.4 percent. 

    10:30 AM Natural Gas Inventories report for February 14 was -111bcf. The prior reported figure was -160bcf. 

    11:00 AM Crude Inventories report for February 14 was 7.716M. The prior reported figure was 4.868M.