Archive for 2014

  • Market Plunges Friday Capping Worst Week Since Sept 2011 on Lower Crude Oil


    DOW 17,280.83  -315.51 points or  -1.79%
    S&P 500  2,002.33  -33.0 points  -1.62%

    NASDAQ 4,653.60  -54.57 points or  -1.16%

    Russell 2000  1,152.45  -14.51 points or  -1.24%

     

    The Market plunged again Friday on sliding Crude Oil prices. The Market opened lower and steadily eroded all day closing down big on the day. For the week, the Dow lost 678 points or -3.8 percent, the worst week since September 2011. The continued drop in oil prices continues to weigh heavily on the Stock Market. The International Energy Agency lowered their global demand forecast for oil in 2015.  Crude Oil closed down below $58 per barrel to push Crude Oil prices down over 40 percent from the highs. The VIX moved higher again, moving up another 5 percent to close up over 21.  The 10 Year Treasury bond yield melted again, closing down at 2.10 percent. 

     

    All released and proposed to be released economic reports for the week are listed below.


    December 9
    10:00 am Wholesale Inventories report for October was 0.4 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 0.3 percent to 0.4 percent. 
    10:00 am JOLTS-Job Openings report for October was 4.834M. The prior reported figure was revised from 4.735M to 4.685M.

    December 10
    7:00 am MBA Mortgage Index report for December 6 was up 7.3 percent. The prior reported figure was down 7.3 percent.
    10:30 am Crude Inventories report for December 6 was 1.454M. The prior reported figure was down -3.689M.
    2:00 pm Treasury Budget report for November was $56.8B. The Market was expecting -$59.0B. The prior reported figure was $135.2B. 

    December 11
    8:30 am Initial Claims report for December 6 was 294,000. The Market waas expecting 295,000. The prior reported figure was 297,000. 
    8:30 am Continuing Claims report for November 29 was 2,514,000. The Market was expecting 2,350,000. The prior reported figure was revised from 2,362,000 to 2,372,000.
    8:30 am Retail Sales report for November was up 0.7 percent. The Market was expecting 0.4 percent. The prior reported figure was revised from 0.3 percent to 0.5 percent.
    8:30 am Retail Sales ex-auto report for November was up 0.5 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 0.3 percent to 0.4 percent.
    8:30 am Export Sales ex-ag report for November was down -1.2 percent. The prior reported figure was down -0.8 percent. 
    8:30 am Import Prices ex-oil report for November was down -0.2 percent. The prior reported figure was also down -0.2 percent.
    8:30 am Business Inventories report for October was up 0.2 percent. That was exactly in line with Market expectations. 
    10:30 am Natural Gas Inventories report for December 6 was -51bcf. The prior reported figure was -22bcf.

    December 12
    8:30 am PPI report for November was down -0.2 percent. The Market was expecting down -0.1 percent. The prior reported figure was 0.2 percent. 
    8:30 am Core PPI report for November was flat. The Market was expecting 0.1 percent. The prior reported figure was 0.4 percent. 
    9:55 am Michigan Sentiment report for December was 93.8. The Market was expecting 89.5. The prior reported figure was 88.8.
  • Market Loses Big Morning Gains to Close Modestly Higher; Crude Oil Closes Below $60



    DOW 17,596.34  +63.19 points or  +0.36%
    S&P 500  2,035.33  +9.19 points  +0.45%

    NASDAQ 4,708.16  +24.14 points or  +0.52%

    Russell 2000  1,166.99  +5.12 points or  +0.44%

     

    The Market jumped higher in the morning session on strong retail sales reports erasing yesterdays losses, only to slowly lose a big chunk of the morning gains in the afternoon to close modestly higher. Crude Oil continues to be under severe selling pressure as Crude closed below $60 per barrel for the first time since 2009.  Even though the Market finished higher, the Market volatility traded higher as the Market lost the early session gains. The VIX moved up another 8.26 percent to close up over 20.  The 10 Year Treasury bond yield closed slightly higher at 2.18 percent. Trading volume saw about 7.2 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.


    December 9
    10:00 am Wholesale Inventories report for October was 0.4 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 0.3 percent to 0.4 percent. 
    10:00 am JOLTS-Job Openings report for October was 4.834M. The prior reported figure was revised from 4.735M to 4.685M.

    December 10
    7:00 am MBA Mortgage Index report for December 6 was up 7.3 percent. The prior reported figure was down 7.3 percent.
    10:30 am Crude Inventories report for December 6 was 1.454M. The prior reported figure was down -3.689M.
    2:00 pm Treasury Budget report for November was $56.8B. The Market was expecting -$59.0B. The prior reported figure was $135.2B. 

    December 11
    8:30 am Initial Claims report for December 6 was 294,000. The Market waas expecting 295,000. The prior reported figure was 297,000. 
    8:30 am Continuing Claims report for November 29 was 2,514,000. The Market was expecting 2,350,000. The prior reported figure was revised from 2,362,000 to 2,372,000.
    8:30 am Retail Sales report for November was up 0.7 percent. The Market was expecting 0.4 percent. The prior reported figure was revised from 0.3 percent to 0.5 percent.
    8:30 am Retail Sales ex-auto report for November was up 0.5 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 0.3 percent to 0.4 percent.
    8:30 am Export Sales ex-ag report for November was down -1.2 percent. The prior reported figure was down -0.8 percent. 
    8:30 am Import Prices ex-oil report for November was down -0.2 percent. The prior reported figure was also down -0.2 percent.
    8:30 am Business Inventories report for October was up 0.2 percent. That was exactly in line with Market expectations. 
    10:30 am Natural Gas Inventories report for December 6 was -51bcf. The prior reported figure was -22bcf.

    December 12
    8:30 am PPI report for November
    8:30 am Core PPI report for November
    9:55 am Michigan Sentiment report for December
  • Stock Market Clocked as Oil Stocks Led the Market Lower


    DOW 17,533.15  -268.05 points or  -1.51%
    S&P 500  2,026.14  -33.68 points  -1.64%

    NASDAQ 4,684.03  -82.44 points or  -1.73%

    Russell 2000  1,161.86  -26.19 points or  -2.20%

     

    The Market was clocked today, led by Oil stocks. The Market opened lower, and steadily eroded throughout the trading day finishing down near the lows of the day. The gains enjoyed by the small cap Russel 2000 index yesterday were wiped out and more today during the down draft action. Energy stocks led the Market lower as Crude Oil continued to get hit, almost accelerating lower today. Exxon Mobil was down almost 3 percent on the day. Crude Oil dropped down near the $60 per barrel level today. This fast drop in oil prices since the Summer, is now being viewed as a barometer of the state of the world economies, which is not a healthy sign at all.  The Market volatility jumped up again today as the Market decline accelerated. The VIX moved up another 24 percent to close up at 18.53.  The 10 Year Treasury bond yield melted again today, closing lower down at 2.16 percent. Trading volume saw about 7.5 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.


    December 9
    10:00 am Wholesale Inventories report for October was 0.4 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 0.3 percent to 0.4 percent. 
    10:00 am JOLTS-Job Openings report for October was 4.834M. The prior reported figure was revised from 4.735M to 4.685M.

    December 10
    7:00 am MBA Mortgage Index report for December 6 was up 7.3 percent. The prior reported figure was down 7.3 percent.
    10:30 am Crude Inventories report for December 6 was 1.454M. The prior reported figure was down -3.689M.
    2:00 pm Treasury Budget report for November was $56.8B. The Market was expecting -$59.0B. The prior reported figure was $135.2B. 

    December 11
    8:30 am Initial Claims report for December 6
    8:30 am Continuing Claims report for November 29
    8:30 am Retail Sales report for November
    8:30 am Retail Sales ex-auto report for November
    8:30 am Export Sales ex-ag report for November
    8:30 am Import Prices ex-oil report for November
    8:30 am Business Inventories report for October
    10:30 am Natural Gas Inventories report for December 6

    December 12
    8:30 am PPI report for November
    8:30 am Core PPI report for November
    9:55 am Michigan Sentiment report for December
  • Market Erases Deep Morning Losses to Close Flat on S&P


    DOW 17,801.20  -51.28 points or  -0.29%
    S&P 500  2,059.82  -0.49 points  -0.02%

    NASDAQ 4,766.47  +25.77 points or  +0.54%

    Russell 2000  1,188.06  +20.85 points or  +1.79%

     

    The Market finished the day flat on the S&P 500 after a steep morning drop. The Market opened sharply lower and then slowly began pairing the morning losses late morning to end the day even on the S&P 500. The small cap Russel 2000 index enjoyed a very strong day rallying up 1.79 percent. McDonald's continued yesterday's slide losing another 1.35 percent to close down at 91.36. Energy stocks continued yesterdays move lower. Exxon Mobil lost another .35 percent to close down at 91.38.  Crude Oil prices dropped another 1.44 percent, to close down at 62.90. Crude Oil is now off over 40 percent from the highs. The Market volatility continued yesterdays move higher, with the VIX moving up 4.79 percent to close up at 14.89.  The 10 Year Treasury bond yield was lower again today, closing lower down at 2.22 percent. 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.


    December 9
    10:00 am Wholesale Inventories report for October was 0.4 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 0.3 percent to 0.4 percent. 
    10:00 am JOLTS-Job Openings report for October was 4.834M. The prior reported figure was revised from 4.735M to 4.685M.

    December 10
    7:00 am MBA Mortgage Index report for December 6
    10:30 am Crude Inventories report for December 6
    2:00 pm Treasury Budget report for November

    December 11
    8:30 am Initial Claims report for December 6
    8:30 am Continuing Claims report for November 29
    8:30 am Retail Sales report for November
    8:30 am Retail Sales ex-auto report for November
    8:30 am Export Sales ex-ag report for November
    8:30 am Import Prices ex-oil report for November
    8:30 am Business Inventories report for October
    10:30 am Natural Gas Inventories report for December 6

    December 12
    8:30 am PPI report for November
    8:30 am Core PPI report for November
    9:55 am Michigan Sentiment report for December