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  • Stock Market Finished Last Week on a Down Session




    DOW 17,749.31  -145.91 points or  -0.82%
    S&P 500  2,053.40  -12.55 points  -0.61%

    NASDAQ  4,871.76  -21.53 points or  -0.44%

    Russell 2000  1,232.14  -4.50 points or  -0.36%

     

    The Stock Market finished the week with another down trading session, continuing to act like a yo yo, up, down. The Market opened lower, bottomed out around 12 noon ET, and closed lower, yet well off the session low.  Crude Oil is making its move away from the $50 per barrel level on the down side, closing down near the $47 per barrel level. There is talk that $35 per barrel is the next target level. The volatility index, the VIX, does not appear to be buying this selloff as anything severe, moving up +3.76 percent to close at 16.00. The 10 Year Treasury bond yield was little changed, closing around the 2.11 percent level. Trading volume saw 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.


    March 10

    10:00 AM JOLTS-Job Openings report for January was 4.998M. The prior reported figure was revised from 5.028M to 4.877M. 

    10:00 AM Wholesale Inventories report for January was 0.3 percent. The Market was expecting -0.1 percent. The prior reported figure was revised from 0.1 percent to flat.


    March 11

    7:00 AM MBA Mortgage Index report for March 7 was down -1.3 percent. The prior reported figure was up 0.1 percent. 

    10:30 AM Crude Inventories report for March 7 was 4.512M. The prior reported figure was 10.303M. 

    2:00 PM Treasury Budget report for February 


    March 12

    8:30 AM Initial Claims report for March 7 was 289k. The Market was expecting 306k. The prior reported figure was revised from 320k to 325k.

    8:30 AM Continuing Claims report for February 28 was 2418k. The Market was expecting 2421k. the prior reported figure was revised from 2421k to 2423k.

    8:30 AM Retail Sales report for February was down -0.6 percent. The Market was expecting 0.4 percent. The prior reported figure was down -0.8 percent. 

    8:30 AM Retail Sales ex-auto report for February was down -0.1 percent. The Market was expecting 0.6 percent. The prior reported figure was revised from down -0.9 percent to down -1.1 percent. 

    8:30 AM Export Prices ex-ag report for February was 0.2 percent. The prior reported figure was revised from down -1.0 percent to down -2.0 percent. 

    8:30 AM Import Prices ex-oil report for February was down -0.3 percent. The prior reported figure was revised from down -0.7 percent to down -0.6 percent. 

    10:00 AM Business Inventories report for January was flat. The Market was expecting 0.1 percent. The prior reported figure was revised from 0.1 percent to flat. 

    10:30 AM Natural Gas Inventories report for March 7 was -198 bcf. The prior reporteed figure was -228 bcf. 


    March 13

    8:30 AM PPI report for February was down -0.5 percent. The Market was expecting 0.3 percent. The prior reporteed figure was down -0.8 percent. 

    8:30 AM Core PPI report for February was down -0.5 percent. The Market was expecting 0.1 percent. The prior reported figure was down -0.1 percent. 

    10:00 AM Michigan Sentiment report for March was 91.2. The Market was expecting 95.8. The prior reported figure was 95.4.







  • After Tuesdays Dive, Stocks Hovered Around the Unchanged Level Closing Slightly Lower


    DOW 17,635.39  -27.55 points or  -0.16%
    S&P 500  2,040.24  -3.92 points  -0.19%

    NASDAQ  4849.94  -9.85 points or  -0.20%

    Russell 2000  1,215.78  +7.30 points or  +0.60%

     

    After yesterdays dive, the Stock Market hovered around the unchanged level closing slightly lower for the day. The Market opened higher, and proceeded to straddle the unchanged level up/down finally closing on the down side. A positive note, U.S. Banks passed the Feds stress tests. In a huge turn around from 2008, Citigroup scored the cleanest stress test pass.  The US stock leader Apple, continued to dive today, losing almost two percent to close down at 122.24.  Crude Oil was little changed, closing down around the $48 per barrel level. The volatility index, the VIX, moved up slightly, up 1 percent to close up at 16.87.  The 10 Year Treasury bond yield dropped again to close down around the 2.11 percent level. Trading volume saw about 6.6 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.


    March 10

    10:00 AM JOLTS-Job Openings report for January was 4.998M. The prior reported figure was revised from 5.028M to 4.877M. 

    10:00 AM Wholesale Inventories report for January was 0.3 percent. The Market was expecting -0.1 percent. The prior reported figure was revised from 0.1 percent to flat.


    March 11

    7:00 AM MBA Mortgage Index report for March 7 was down -1.3 percent. The prior reported figure was up 0.1 percent. 

    10:30 AM Crude Inventories report for March 7 was 4.512M. The prior reported figure was 10.303M. 

    2:00 PM Treasury Budget report for February 


    March 12

    8:30 AM Initial Claims report for March 7

    8:30 AM Continuing Claims report for February 28

    8:30 AM Retail Sales report for February

    8:30 AM Retail Sales ex-auto report for February

    8:30 AM Export Prices ex-ag report for February

    8:30 AM Import Prices ex-oil report for February

    10:00 AM Business Inventories report for January

    10:30 AM Natural Gas Inventories report for March 7


    March 13

    8:30 AM PPI report for February

    8:30 AM Core PPI report for February

    10:00 AM Michigan Sentiment report for March

  • Stock Market Dives One Day After 6 Year Bull Market Anniversary


    DOW 17,662.94  -332.78 points or  -1.85%
    S&P 500  2,044.16  -35.27 points  -1.70%

    NASDAQ  4859.80  -82.64 points or  -1.67%

    Russell 2000  1,208.47  -15.11 points or  -1.24%

     

    The Stock Market did an about face from Mondays Bull Market anniversary rally and proceeded to dive giving the S&P 500 the biggest one day loss in two months. The Market opened lower, and proceeded to trade lower for the remainder of the day. The headlines explaining the loss were fears of a Federal Reserve rate hike in June. This does not make much sense. The bond market rallied today and the rate hike talk has been going on for a while. The Market simply pulled back from the recent run to new highs. The stock that led the Market higher over the past few months, Apple, the largest company in the world, led the way back down losing -2.07 percent to close down at 124.51. Crude Oil finally began to move away from the $50 per barrel level to thee down side, closing near the $48 per barrel level. The volatility index, the VIX, popped on the Stock Market sell off, jumping +10.82 percent to close up at 16.69.  The 10 Year Treasury bond yield dropped again to close down around the 2.13 percent level. Trading volume saw about 7.1 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.


    March 10

    10:00 AM JOLTS-Job Openings report for January was 4.998M. The prior reported figure was revised from 5.028M to 4.877M. 

    10:00 AM Wholesale Inventories report for January was 0.3 percent. The Market was expecting -0.1 percent. The prior reported figure was revised from 0.1 percent to flat.


    March 11

    7:00 AM MBA Mortgage Index report for March 7

    10:30 AM Crude Inventories report for March 7

    2:00 PM Treasury Budget report for February


    March 12

    8:30 AM Initial Claims report for March 7

    8:30 AM Continuing Claims report for February 28

    8:30 AM Retail Sales report for February

    8:30 AM Retail Sales ex-auto report for February

    8:30 AM Export Prices ex-ag report for February

    8:30 AM Import Prices ex-oil report for February

    10:00 AM Business Inventories report for January

    10:30 AM Natural Gas Inventories report for March 7


    March 13

    8:30 AM PPI report for February

    8:30 AM Core PPI report for February

    10:00 AM Michigan Sentiment report for March

  • Stock Market Rallies On 6 Year Bull Market Anniversary


    DOW 17,995.72  +138.94 points or  +0.78%
    S&P 500  2,079.43  +8.17 points  +0.39%

    NASDAQ  4942.44  +15.07 points or  +0.32%

    Russell 2000  1,223.59  +6.07 points or  +0.50%

     

    The Stock Market began the week rallying strong on this Bull Markets sixth anniversary.  The Market opened higher, and rallied all day closing slightly off the days high made at 2pm ET.  Apple was added tto the Dow Jones Industrial average Friday, replacing ATT. Today, Apple unveiled the iwatch. McDonald's stock rallied today, after reporting disappointing sales. The Market must feel the bad news is behind McDonald's. Crude Oil appears to love hugging that $50 per barrel level. Crude closed just above $50 today. The volatility index, the VIX, was basically unchanged, moving slightly lower down -0.92 percent to close at 15.06. The 10 Year Treasury bond yield pulled back on more potential Greece debt concerns to close down around the 2.20 percent level. Trading volume saw about 6.2 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.


    March 10

    10:00 AM JOLTS-Job Openings report for January

    10:00 AM Wholesale Inventories report for January


    March 11

    7:00 AM MBA Mortgage Index report for March 7

    10:30 AM Crude Inventories report for March 7

    2:00 PM Treasury Budget report for February


    March 12

    8:30 AM Initial Claims report for March 7

    8:30 AM Continuing Claims report for February 28

    8:30 AM Retail Sales report for February

    8:30 AM Retail Sales ex-auto report for February

    8:30 AM Export Prices ex-ag report for February

    8:30 AM Import Prices ex-oil report for February

    10:00 AM Business Inventories report for January

    10:30 AM Natural Gas Inventories report for March 7


    March 13

    8:30 AM PPI report for February

    8:30 AM Core PPI report for February

    10:00 AM Michigan Sentiment report for March