Archive for March, 2014

  • S&P Flat on the Year in Slightly Lower Trading Session

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    DOW  16,264.23  -4.76 points or -0.03%                                 
     S&P  1,849.04  -3.52 points or -0.19%

     NASDAQ 4,151.23 -22.35 points or -0.54%

     

    The Stock Market moved up and down across the unchanged level several times today closing slightly lower on the DOW and S&P for the Thursday trading day. The banking sector was hit on the news that Citigroup failed the recent stress test. The DOW lost -4.76 points or down -0.03 percent to close down at 16,264.23 for the trading day. The S&P 500 index shaved off -3.52 points or down -0.19 percent to close down at 1,849.04 for the day, basically setting the S$P 500 index flat for the year. The NASDAQ index, the weakest index over the past few sessions, was again the hardest hit index, losing -22.35 points or down -0.54 percent to close down at 4,151.23 for the trading day.   


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


    March 25

    9:00 am Case-Schiller 20-city Index report for January was 13.2 percent. The Street was expecting 13.3 percent. The prior reported number was 13.4 percent. 

    9:00 am FHFA Housing Price Index report for January was 0.5 percent. The revised prior reported figure was 0.8 percent. 

    10:00 am Consumer Confidence report for March was 82.3 percent. Wall Street was expecting 78.2 percent. The revised prior reported figure was 78.1 percent. 

    10:00 am New Home Sales report for February was 440,000. The Street was expecting 455,000. The revised prior reported figure was 468,000. 


    March 26

    7:00 am MBA Mortgage Index report for March 22 was -3.5 percent. The prior reported figure was -1.2 percent. 

    8:30 am Durable Orders report for February was 2.2 percent. The Street was expecting 1.0 percent. The revised prior reported figure was -1.0 percent. 

    10:30 am Crude Inventories report for March 22 was 6.619M. The prior reported figure was 5.85M.


    March 27

    8:30 am Initial Claims report for March 22 was 311,000. The Street was expecting 330,000. The revised prior reported figure was 320,000. 

    8:30 am Continuing Claims report for March 15 was 2,823,000. The Street was expecting 2,900,000. The revised prior reported figure was 2,889,000. 

    8:30 am GDP – Third Estimate report for Q4 was 2.6 percent. That was exactly in line with the Streets estimated figure of 2.6 percent. The prior reported figure was 2.4 percent. 

    8:30 am GDP Deflator – Third Estimate report for Q4 was 1.6 percent. That was exactly in line with the Streets expectations as well as the prior reported figure.

    10:00 am Pending Home Sales report for February was -0.8 percent. Wall Street was expecting -0.2 percent. The revised prior reported figure was 0.1 percent. 

    10:30 am Natural Gas Inventories report for March 22 was -57bcf. The prior reported figure was -48bcf. 


    March 28

    8:30 am Personal Income report for February 

    8:30 am Personal Spending report for February 

    8:30 am PCE Prices-Core report for February

    9:55 am Michigan Sentiment – Final report for March 

  • Wall Street Closes Lower in Another Volatile Session


    DOW  16,268.99  -98.89 points or -0.60%                                 
     S&P  1,852.56  -13.06 points or -0.70%

     NASDAQ 4,173.58 -60.69 points or -1.43%

     

    The Stock Market opened much higher, then sold off pretty hard to close into negative territory. The indexes completely erased Tuesdays gains. The DOW lost -98.89 points or down -0.60 percent to close down at 16,268.99 for the trading day. The S&P 500 index dropped -13.06 points or down -0.70 percent to close down at 1,852.56 for the day. The NASDAQ index, the hardest hit index, lost -60.69 points or down -1.43 percent to close down at 4,173.58 for the trading day.   


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


    March 25

    9:00 am Case-Schiller 20-city Index report for January was 13.2 percent. The Street was expecting 13.3 percent. The prior reported number was 13.4 percent. 

    9:00 am FHFA Housing Price Index report for January was 0.5 percent. The revised prior reported figure was 0.8 percent. 

    10:00 am Consumer Confidence report for March was 82.3 percent. Wall Street was expecting 78.2 percent. The revised prior reported figure was 78.1 percent. 

    10:00 am New Home Sales report for February was 440,000. The Street was expecting 455,000. The revised prior reported figure was 468,000. 


    March 26

    7:00 am MBA Mortgage Index report for March 22 was -3.5 percent. The prior reported figure was -1.2 percent. 

    8:30 am Durable Orders report for February was 2.2 percent. The Street was expecting 1.0 percent. The revised prior reported figure was -1.0 percent. 

    10:30 am Crude Inventories report for March 22 was 6.619M. The prior reported figure was 5.85M.


    March 27

    8:30 am Initial Claims report for March 22

    8:30 am Continuing Claims report for March 15

    8:30 am GDP – Third Estimate report for Q4

    8:30 am GDP Deflator – Third Estimate report for Q4

    10:00 am Pending Home Sales report for February

    10:30 am Natural Gas Inventories report for March 22


    March 28

    8:30 am Personal Income report for February 

    8:30 am Personal Spending report for February 

    8:30 am PCE Prices-Core report for February

    9:55 am Michigan Sentiment – Final report for March 


  • Wall Street Rallies on a Volatile Trade Session




    DOW  16,367.88  +91.19 points or +0.56%                                            S&P  1,865.62  +8.18 points or +0.44%

     NASDAQ 4,234.27 +7.88 points or +0.19%

     

    The Stock Market opened much higher, sold off into slightly negative territory,  then rallied in the afternoon and closed higher for the roller coaster trading day. sold off in the morning and remained lower yet off the lows of the day. The DOW was once again, the strongest index rallying +91.19 points or up +0.56 percent to close up at 16,367.88 for the trading day. The S&P 500 index rallied +8.18 points or up +0.44 percent for the trading session. The NASDAQ index was up over a full percent, but gave much of those gains back to close up +7.88 points or up +0.19 percent to close up at 4,234.27 for the volatile trading day.   

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


    March 25

    9:00 am Case-Schiller 20-city Index report for January was 13.2 percent. The Street was expecting 13.3 percent. The prior reported number was 13.4 percent. 

    9:00 am FHFA Housing Price Index report for January was 0.5 percent. The revised prior reported figure was 0.8 percent. 

    10:00 am Consumer Confidence report for March was 82.3 percent. Wall Street was expecting 78.2 percent. The revised prior reported figure was 78.1 percent. 

    10:00 am New Home Sales report for February was 440,000. The Street was expecting 455,000. The revised prior reported figure was 468,000. 


    March 26

    7:00 am MBA Mortgage Index report for March 22

    8:30 am Durable Goods-ex transportation report for February

    10:30 am Crude Inventories report for March 22


    March 27

    8:30 am Initial Claims report for March 22

    8:30 am Continuing Claims report for March 15

    8:30 am GDP – Third Estimate report for Q4

    8:30 am GDP Deflator – Third Estimate report for Q4

    10:00 am Pending Home Sales report for February

    10:30 am Natural Gas Inventories report for March 22


    March 28

    8:30 am Personal Income report for February 

    8:30 am Personal Spending report for February 

    8:30 am PCE Prices-Core report for February

    9:55 am Michigan Sentiment – Final report for March 


  • Down Market Monday – NASDAQ Hit Hard




    DOW  16,276.69  -26.08 points or -0.16%                                            S&P  1,857.44  -9.08 points or -0.49%

     NASDAQ 4,226.39 -50.40 points or -1.18%

     

    The Stock Market sold off in the morning and remained lower yet off the lows of the day. The DOW, the index that has been the weakest over the past month, was only sightly lower. The S&P 500 was hit harder and the NASDAQ index which had been the strongest index over the past month, was hit hardest, as tech, bio and solar equities were under pressure all day. The DOW was down -26.08 points or down -0.16 percent to close down at 16,276.69 for the Monday session. The S&P 500 index dropped -9.08 points or down -0.49 percent to close down at 1,857.44 for the Monday session. The NASDAQ index, hit for -50.40 points or down -1.18 percent to close down at 4,226.39 for the Monday trading session.    

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


    March 25

    9:00 am Case-Schiller 20-city Index report for January

    9:00 am FHFA Housing Price Index report for January

    10:00 am Consumer Confidence report for March

    10:00 am New Home Sales report for February


    March 26

    7:00 am MBA Mortgage Index report for March 22

    8:30 am Durable Goods-ex transportation report for February

    10:30 am Crude Inventories report for March 22


    March 27

    8:30 am Initial Claims report for March 22

    8:30 am Continuing Claims report for March 15

    8:30 am GDP – Third Estimate report for Q4

    8:30 am GDP Deflator – Third Estimate report for Q4

    10:00 am Pending Home Sales report for February

    10:30 am Natural Gas Inventories report for March 22


    March 28

    8:30 am Personal Income report for February 

    8:30 am Personal Spending report for February 

    8:30 am PCE Prices-Core report for February

    9:55 am Michigan Sentiment – Final report for March