Archive for April, 2014

  • Market Posts Solid Gains



    DOW  16,535.37  +86.63 points or +0.53%
    S&P 500 1878.33  +8.90 points or +0.48%

     NASDAQ 4,103.54  +29.14 points or +0.72%

     

    The Stock Market posted a solid day after Mondays roller coaster ride. Merck led the market higher on better than expected earnings. Twitter was hit hard in after hours trading, dropping over 10% (which is now below the November 2013 IPO price) when the company released quarterly usage numbers, which did increase, yet the increase fell short of investor expectations. The stock is currently trading below the November IPO price. Twitter hit a high over $73 per share back in December of 2013. Tomorrow, the market will focus on the 2pm ET FOMC rate decision release.

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


    April 28

    10:00 am Pending Home Sales report for March was 3.4 percent. The market was expecting 1.0 percent. The prior reported figure was revised from -0.8 percent to -0.5 percent.


    April 29

    9:00 am Case-Schiller 20 city Index report for February was 12.9 percent. The market was expecting 13 percent. The prior reported figure was 13.2 percent. 

    10:00 am Consumer Confidence report for April was 82.3. The market was expecting 83.6. The prior reported figure was revised from 82.3 up to 83.9. 


    April 30

    7:00 am MBA Mortgage Index report for April 26

    8:15 am ADP Employment Change report for April

    8:30 am GDP-Adv report for Q1

    8:30 am Chain Deflator-Adv report for Q1

    8:30 am Employment Cost Index report for Q1

    9:45 am Chicago PMI report for April

    10:30 am Crude Inventories report April 26

    2:00 pm FOMC Rate Decision report for April


    May 1

    7:30 am Challenger Job Cuts report for April

    8:30 am Initial Claims report for April 26

    8:30 am Continuing Claims report for April 19

    8:30 am Personal Income report for March

    8:30 am Personal Spending report for March

    8:30 am PCE Prices-Core report for March

    10:00 am Construction Spending report for March

    10:30 am Natural Gas Inventories report for April 26

    2:00 pm Auto Sales report for April

    2:00 pm Truck Sales report for April


    May 2

    8:30 am Nonfarm Payrolls report for April

    8:30 am Nonfarm Private Payrolls report for April

    8:30 am Unemployment Rate report for April

    8:30 am Hourly Earnings report for April

    8:30 am Average Workweek report for April

    10:00 am Factory Orders report for March


  • Roller Coaster Market Monday

    DOW  16,448.74  +87.28 points or 0.53%                        
    S&P  1,869.43  +6.03 points or +0.32%

     NASDAQ 4,074.40  -1.16 points or -0.03%

     

    The Stock Market went on a roller coaster ride this Monday. After Fridays big negative day, the market opened higher, and rallied big basically erasing Fridays losses, only to then sell off after 11am et all the way back down into negative territory led by the NASDAQ index, and then rallied back to positive territory late in the trading day. While the tech heavy NASDAQ index led the selling in the morning, the DOW led the rally late in the afternoon back up to positive territory.  A noteworthy stock to discuss this Monday is Bank of America. Today, the Bank reversed  a dividend increase and a stock buy back program announced recently. The Bank said the dividend and stock buy back program are suspended. The reason cited was an error made in calculating the Banks capital ratio since the Banks purchase of Merrill during the financial melt down.  Since this capital ratio calculation is a vital component to measuring a banks strength, the Federal Reserve asked the bank to suspend the Banks dividend increase and stock buy back program. This is quite scary. Bank of America’s stock fell over 5 percent on the news. Shares of other major bank fell as well today. 

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


    April 28

    10:00 am Pending Home Sales report for March was 3.4 percent. The market was expecting 1.0 percent. The prior reported figure was revised from -0.8 percent to -0.5 percent.


    April 29

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

    10:00 am Consumer Confidence report for April


    April 30

    7:00 am MBA Mortgage Index report for April 26

    8:15 am ADP Employment Change report for April

    8:30 am GDP-Adv report for Q1

    8:30 am Chain Deflator-Adv report for Q1

    8:30 am Employment Cost Index report for Q1

    9:45 am Chicago PMI report for April

    10:30 am Crude Inventories report April 26

    2:00 pm FOMC Rate Decision report for April


    May 1

    7:30 am Challenger Job Cuts report for April

    8:30 am Initial Claims report for April 26

    8:30 am Continuing Claims report for April 19

    8:30 am Personal Income report for March

    8:30 am Personal Spending report for March

    8:30 am PCE Prices-Core report for March

    10:00 am Construction Spending report for March

    10:30 am Natural Gas Inventories report for April 26

    2:00 pm Auto Sales report for April

    2:00 pm Truck Sales report for April


    May 2

    8:30 am Nonfarm Payrolls report for April

    8:30 am Nonfarm Private Payrolls report for April

    8:30 am Unemployment Rate report for April

    8:30 am Hourly Earnings report for April

    8:30 am Average Workweek report for April

    10:00 am Factory Orders report for March


  • Market Drifts Slightly Higher



    DOW  16,501.65  0.00 points or 0,00%                        
    S&P  1,878.61  +3.22 points or +0.17%

     NASDAQ 4,148.34  +21.37 points or +0.52%

     

    The Stock Market basically drifted sideways after some morning up/down trading action. The NASDAQ index outperformed the other indexes on the heals of the better than expected earnings/revenue releases last night from Apple and Facebook.  The DOW closed the day exactly unchanged and the S&P was just a bit higher. Friday will be the last day of the Spring Break related low volume trading sessions. The volume and trading action will pick up next week. 

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


    April 21

    10:00 am Leading Indicators report for March was up 0.8 percent. That was exactly in line with Market expectations. The prior reported figure was 0.5 percent.


    April 22

    9:00 am FHFA Housing Price Index report for February was up 0.6 percent. The prior reported figure was up 0.4 percent. 

    10:00 am Existing Home Sales report for March was 4.59M. The Market was expecting 4.60M. The prior reported figure was 4.60M as well. 


    April 23

    7:00 am MBA Mortgage Index report for April 19 was down -3.3 percent. The prior reported figure was up 4.3 percent. 

    10:00 am New Home Sales report for March was 384,000. The market was expecting 455,000. The prior reported figure was revised from 440,000 up to 449,000. 

    10:30 am Crude Inventories report for April 19 was 3.524M. The prior reported figure was 10.013M. 


    April 24

    8:30 am Initial Claims report for April 19 was 329,000.  the market was expecting 312,000. The prior reported figure was revised from 304,000 to 305,000. 

    8:30 am Continuing Claims report for April 12 was 2680k. The market was expecting 2750k. The prior reported figure was revised from 2739k to 2741k. 

    8:30 am Durable Orders report for March was 2.6 percent. The market was expecting 2.0 percent. The prior reported figure was revised from 2.2 percent to 2.1 percent. 

    8:30 am Durable Goods-ex transportation report for March was 2.0 percent. The market was expecting 0.5 percent. The prior reported figure was revised from 0.2 percent to 0.1 percent. 

    10:30 am Natural Gas Inventories report for March 19 was 49bcf. The prior reported figure was 24bcf. 

     

    April 25

    9:55 am Michigan Sentiment – Final report for April was

  • Stock Market Ends 6 Day Winning Streak Today. Apple and Facebook Higher in After Hours Trading Beating Earnings Estimates

    DOW  16,501.65  -12.72 points or -0.08%                        
    S&P  1,875.39  -4.16 points or -0.22%

     NASDAQ 4,126.97  -34.49 points or -0.83%

     

    The Stock Markets 6 day consecutive winning streak ends today. And on the 7th day, the market rested… All the major indexes lost ground. The NASDAQ index was the weakest index, dropping 0.83 percent. The market was over due for a pause in the rally. After the closing bell, Apple released first quarter earnings and revenues. Apple beat both expected numbers and the stock popped a whopping 8% higher in post close trading session. Apple also announced a 7-1 stock split. Facebook also released first quarter earning and revenues. Facebook beat expectations on both as well. The stock jumped up over 3 percent in the after hours trading session. 

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


    April 21

    10:00 am Leading Indicators report for March was up 0.8 percent. That was exactly in line with Market expectations. The prior reported figure was 0.5 percent.


    April 22

    9:00 am FHFA Housing Price Index report for February was up 0.6 percent. The prior reported figure was up 0.4 percent. 

    10:00 am Existing Home Sales report for March was 4.59M. The Market was expecting 4.60M. The prior reported figure was 4.60M as well. 


    April 23

    7:00 am MBA Mortgage Index report for April 19 was down -3.3 percent. The prior reported figure was up 4.3 percent. 

    10:00 am New Home Sales report for March was 384,000. The market was expecting 455,000. The prior reported figure was revised from 440,000 up to 449,000. 

    10:30 am Crude Inventories report for April 19 was 3.524M. The prior reported figure was 10.013M. 


    April 24

    8:30 am Initial Claims report for April 19 was 

    8:30 am Continuing Claims report for April 12 was

    8:30 am Durable Orders report for March was

    8:30 am Durable Goods-ex transportation report for March was

    10:30 am Natural Gas Inventories report for March 19 was

     

    April 25

    9:55 am Michigan Sentiment – Final report for April was