Archive for December, 2013

  • Warren Sulmasy Wall Street Screamed Higher on Fed Tapering

    DOW  16,167.97 +292.71 points or +1.84%
    S&P    1,810.65  +29.65 points or +1.66%
    NASDAQ 4,070.06 +46.38 points or +1.15%
    Wall Street screamed higher on the Federal Reserves announcement to commence tapering the current QE bond buying policy from $85B per month down to $75B per month. The DOW ran up +292.71 points or up 1.84 percent to close up at 16,167.97. The S&P 500 index rallied up +29.65 points or up +1.66 percent to close up at 1,810.65 for the day. The NASDAQ index rallied +46.38 points or up 1.15 percent to close up at 4,070.06 for the day.   
    All released and proposed to be released economic reports for the week are listed below.
    December 16
    8:30 am Empire Manufacturing report for December was 1.0.  Wall Street was expecting 5.0. The prior reported number was -2.2. 
    8:30 am Productivity-Rev. report for Q3 was 3.0 percent. Wall Street was expecting 2.7 percent. The prior reported number 1.9 percent. 
    8:30 am Unit Labor Costs report for Q3 was -1.4 percent. The Street was expecting -1.3 percent. The  prior reported figure was -0.6 percent.
    9:00 am NetLong-Term TIC Flows report for October was $35.4B. The Street does not broadcast an expected figure for this report. The revised prior reported number was $25.5B.
    9:15 am Capacity Utilization report for November was not annaounced. The Street does not broadcast an expected figure for this report. The prior reported number was 78.1 percent. 
    9:15 am Industrial Production report for November was up 1.1 percent. Wall Street was looking for a report up 0.4 percent. The revised prior reporteed number was -0.1 percent. 
    9:15 am Capacity Utilization report for November was 79 percent. The Street was looking for a report of 78.2 percent. The revised prior reported number was 78.1 percent. 
    December 17
    8:30 am CPI report for November was flat. Wall Street was looking for a slight increase of 0.1 percent. The prior report was down slightly, -0.1 percent. 
    8:30 am Core CPI report for November was up 0.2 percent. The Street was looking for 0.1 percent. The prior reported number was 0.1 percent. 
    8:30 am Current Account Balance for Q3 was -94.8B. The Street was looking for -$101.0B. The revised prior reported number was -$96.6B. 
    10:00 am NAHB Housing Market Index for December was 58. The Street was expecting 55. The prior reported number was 54. 

    December 18
    7:00 am MBA Mortgage Index for December 14 was -5.5 percent. The Street has no estimated figures for this data. The prior reported number was 1.0 percent. 
    8:30 am Housing Starts report for September was 873,000. Wall Street was looking for 915,000. The revised prior reported number was 891,000. 
    8:30 am Housing Starts report for October was 889,000. Wall Street was looking for 920,000. The prior reported figure was 873,000.
    8:30 am Housing Starts report for November was 1,091,000. The Street was looking for 950,000. The prior reported figure was 889,000.
    8:30 am Building Permits for November was 1,007,000. Wall Street was looking for 983,000.  The prior reported figure was 1,034,000. 
    10:30 am Crude Inventories report for December 14 was -2.941M. The prior reported figure was -10.585M.
    2:00 pm FOMC Rate Decision report for December remained unchanged at 0.25 percent. The Fed did announce they will commence tapering the current QE monthly bond purchases from $85B per month to $75B per month. 

    December 19
    8:30 am Continuing Claims report for December 7
    8:30 am Initial Claims report for December 14
    10:00 am Existing Home Sales report for November
    10:00 am Philadelphia Fed report for December
    10:00 am Leading Indicators report for November 
    10:30 am Natural Gas Inventories report for December 14

    December 20
    8:30 am GDP-Third Estimate report for Q3
    8:30 am GDP Deflator-Third Estimate report for Q3

  • Wall Street Closes Slightly Lower on December FOMC Meeting Eve





    DOW  15,875.26 -9.31 points or -0.06%
    S&P    1,781.00  -5.54 points or -0.31%
    NASDAQ 4,023.68 -5.84 points or -0.14%
    The market hung around the unchanged level for most of the day shaved -9.31 points or down -0.06 percent to close down at 15,875.26 for the day. The S&P 500 index slipped -5.54 points or down -0.31 percent to close down at 1,781.00 for the day. The NASDAQ index lost -5.84 points or down -0.14 percent to close down at 4,023.68 for the day.  
    All released and proposed to be released economic reports for the week are listed below.
    December 16
    8:30 am Empire Manufacturing report for December was 1.0.  Wall Street was expecting 5.0. The prior reported number was -2.2. 
    8:30 am Productivity-Rev. report for Q3 was 3.0 percent. Wall Street was expecting 2.7 percent. The prior reported number 1.9 percent. 
    8:30 am Unit Labor Costs report for Q3 was -1.4 percent. The Street was expecting -1.3 percent. The  prior reported figure was -0.6 percent.
    9:00 am NetLong-Term TIC Flows report for October was $35.4B. The Street does not broadcast an expected figure for this report. The revised prior reported number was $25.5B.
    9:15 am Capacity Utilization report for November was not annaounced. The Street does not broadcast an expected figure for this report. The prior reported number was 78.1 percent. 
    9:15 am Industrial Production report for November was up 1.1 percent. Wall Street was looking for a report up 0.4 percent. The revised prior reporteed number was -0.1 percent. 
    9:15 am Capacity Utilization report for November was 79 percent. The Street was looking for a report of 78.2 percent. The revised prior reported number was 78.1 percent. 
    December 17
    8:30 am CPI report for November was flat. Wall Street was looking for a slight increase of 0.1 percent. The prior report was down slightly, -0.1 percent. 
    8:30 am Core CPI report for November was up 0.2 percent. The Street was looking for 0.1 percent. The prior reported number was 0.1 percent. 
    8:30 am Current Account Balance for Q3 was -94.8B. The Street was looking for -$101.0B. The revised prior reported number was -$96.6B. 
    10:00 am NAHB Housing Market Index for December was 58. The Street was expecting 55. The prior reported number was 54. 

    December 18
    7:00 am MBA Mortgage Index for December 14
    8:30 am Housing Starts report for September
    8:30 am Housing Starts report for October
    8:30 am Housing Starts report for November
    8:30 am Building Permits for November
    10:30 am Crude Inventories report for December 14
    2:00 pm FOMC Rate Decision report for December 

    December 19
    8:30 am Continuing Claims report for December 7
    8:30 am Initial Claims report for December 14
    10:00 am Existing Home Sales report for November
    10:00 am Philadelphia Fed report for December
    10:00 am Leading Indicators report for November 
    10:30 am Natural Gas Inventories report for December 14

    December 20
    8:30 am GDP-Third Estimate report for Q3
    8:30 am GDP Deflator-Third Estimate report for Q3

  • Warren Sulmasy Wall Street Jumps Higher

    DOW  15,884.57 +129.21 points or +0.82
    S&P    1,786.54  +11.22 points or +0.63%
    NASDAQ 4,029.52 +28.54 points or +0.71%
    The market jumped higher at the opening and held onto the gains for the remainder the day. The DOW ran up +129.21 points or up +0.82 percent to close up at 15,884.57 for the day. The S&P 500 index jumped up +11.22 points or up +0.63 percent to close up at 1,786.54 for the day. The NASDAQ index jumped up +28.54 points or up +0.71 percent to close up at 4,029.52 for the day. 
    This is an important week for the market as the world awaits the outcome of the Federal Reserves policy meeting this week.   
    All released and proposed to be released economic reports for the week are listed below.
    December 16
    8:30 am Empire Manufacturing report for December was 1.0.  Wall Street was expecting 5.0. The prior reported number was -2.2. 
    8:30 am Productivity-Rev. report for Q3 was 3.0 percent. Wall Street was expecting 2.7 percent. The prior reported number 1.9 percent. 
    8:30 am Unit Labor Costs report for Q3 was -1.4 percent. The Street was expecting -1.3 percent. The  prior reported figure was -0.6 percent.
    9:00 am NetLong-Term TIC Flows report for October was $35.4B. The Street does not broadcast an expected figure for this report. The revised prior reported number was $25.5B.
    9:15 am Capacity Utilization report for November was not annaounced. The Street does not broadcast an expected figure for this report. The prior reported number was 78.1 percent. 
    9:15 am Industrial Production report for November was up 1.1 percent. Wall Street was looking for a report up 0.4 percent. The revised prior reporteed number was -0.1 percent. 
    9:15 am Capacity Utilization report for November was 79 percent. The Street was looking for a report of 78.2 percent. The revised prior reported number was 78.1 percent. 
    December 17
    8:30 am CPI report for November
    8:30 am Core CPI report for November
    8:30 am Current Account Balance for Q3
    10:00 am NAHB Housing Market Index for December

    December 18
    7:00 am MBA Mortgage Index for December 14
    8:30 am Housing Starts report for September
    8:30 am Housing Starts report for October
    8:30 am Housing Starts report for November
    8:30 am Building Permits for November
    10:30 am Crude Inventories report for December 14
    2:00 pm FOMC Rate Decision report for December 

    December 19
    8:30 am Continuing Claims report for December 7
    8:30 am Initial Claims report for December 14
    10:00 am Existing Home Sales report for November
    10:00 am Philadelphia Fed report for December
    10:00 am Leading Indicators report for November 
    10:30 am Natural Gas Inventories report for December 14

    December 20
    8:30 am GDP-Third Estimate report for Q3
    8:30 am GDP Deflator-Third Estimate report for Q3
  • Warren Sulmasy Wall Street Flat on Friday the 13th

    DOW  15,755.36 +15.93 points or +0.10%
    S&P    1,775.32  -0.18 points or -0.01%
    NASDAQ 4,000.98 +2.57 points or +0.06%
    The market was flat on Friday the 13th. The DOW was up slightly, moving up +15.93 points or up +0.10 percent to close up at 15,755.36 for the week. The S&P 500 index traded flat losing less than a point, -0.18 point or -0.01 percent to close at 1,775.32 for the week. The NASDAQ index was up +2.57 points or up +0.06 percent to close up at 4,000.98 for the week.     
    All released and proposed to be released economic reports for the week are listed below.
    December 9
    There were no economic releases today.

    December 10
    10:00 am Wholesale Inventories report for October was up 1.4 percent. Wall Street was looking for 0.3 percent. The prior revised reported number was 0.4 percent. 
    10:00 am JOLTS – Job Openings report for October was 3,925,000. There is no expected number. The October report was better than the revised prior reported number which was 3,913,000. 

    December 11
    7:00 am MBA Mortgage Index report for December 7 was 1.0 percent. There is not an expected number for this report. The prior reported figure was down -12.8 percent.
    7:00 am MBA Mortgage Purchase Index report for December 7 was flat. The prior reported figure was down -12.8 percent. 
    10:30 am Crude Inventories report December 7 was down -10.585M. The prior reported figure was -5.585M.
    2:00 pm Treasury Budget report for November was -135.2B. The Street was looking for -$140.0B. The prior reported figure was -172.1B.

    December 12
    8:30 am Initial Claims report for December 7 was 368,000. Wall Street was looking for 315,000. The revised prior reported number was 298,000. 
    8:30 am Continuing Claims report November 30 was 2,791,000. The Street was looking for 2,750,000. The revised prior reported number was 2,744,000.
    8:30 am Retail Sales report for November was up 0.7 percent. The Street was looking for up 0.6 percent. The revised prior reported number was 0.4 percent.
    8:30 am Retail Sales ex auto report for November was up 0.4 percent. Wall Street was looking for 0.3 percent. The revised prior reported number was 0.4 percent. 
    8:30 am Export Prices ex-agriculture report for November was up 0.1 percent. There is not an expected number for this data. The prior reported number was down -0.4 percent.
    8:30 am Import Prices ex-oil report for November was flat. The revised prior reported number was also flat. 
    10:00 am Business Inventories report for October was up 0.7 percent. Wall Street was looking for up 0.3 percent. The prior reported number was up 0.6 percent. 
    10:30 am Natural Gas Inventories report for December 7 was -81bcf. The prior reported figure was -162bcf.

    December 13
    8:30 am PPI report for November was down -0.1 percent. That was exactly in line with Wall Streets expected number. The prior reported figure was down -0.2 percent.
    8:30 am Core PPI report for November was up 0.1 percent. That was exactly in line with the Streets expected report. The prior reported figure was 0.2 percent.