Archive for May, 2014

  • S&P Trades Up to Close at Another All Time High



    DOW  16,717.11  +18.37 points or +0.11%
    S&P 500 1,923.57  +3.54 points or +0.18%

    NASDAQ 4,242.62  -5.33 points or  -0.13%

    Russell 2000  1,134.89  -5.18 points or -0.45%

     

    The Market opened slightly lower this morning and traded near the unchanged level for most of the day gaining strength into the close lifting the market up enough to close positive and enough to push the S&P 500 up to another all time high close. Trading volume for the Friday session was very light. 

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


    May 27

    8:30 am Durable Orders report for April was 0.8 percent. The Market was expecting -1.3 percent. The prior reported figure was revised from 2.9 percent to 3.6 percent.

    8:30 am Durable Goods-ex transportation report for April was 0.1 percent. The Market was expecting -0.2 percent. The prior reported figure was revised from 2.4 percent to 2.9 percent. 

    9:00 am Case-Schiller 20-city Index report for March was 12.4 percent. The Market was expecting 11.8 percent. The prior reported figure was 12.9 percent. 

    9:00 am FHFA Housing Price Index for March was 0.7 percent. The prior reported figure was 0.6 percent. 

    10:00 am Consumer Confidence report for May was 83.0. The Market was expecting 82.7. The prior reported figure was revised from 82.3 down to 81.7.


    May 28

    7:00 am MBA Mortgage Index report for May 24 was down -1.2 percent. The prior reported figure was up 0.9 percent.


    May 29

    8:30 am Initial Claims report for May 24 was 300,000. The Market was expecting 318,000. The prior reported figure was revised from 326,000 to 327,000. 

    8:30 am Continuing Claims report for May 17 was 2,631,000. The Market was expecting 2,650,000. The prior reported figure was revised from 2,653,000 to 2,648,000.

    8:30 am GDP-Second Estimate report for Q1 was down -1.0 percent. The Market was expecting down -0.5 percent. The prior reported figure was 0.1 percent. 

    8:30 am GDP Deflator-Second Estimate report for Q1 was 1.3 percent. That was exactly in line with Market expectations as well as the prior reported figure.

    10:00 am Pending Home Sales report for April was 0.4 percent. The Market was expecting 1.0 percent. The prior reported figure was 3.4 percent.

    10:30 am Natural Gas Inventories report for May 24 was 114bcf. The prior reported figure was 106bcf. 

    11:00 am Crude Inventories report for May 24 was 1.657M.  The prior reported figure was -7.226M.


    May 30

    8:30 am Personal Income report for April was 0.3 percent. That was exactly in line with expectations. The prior reported figure was 0.5 percent.

    8:30 am Personal Spending report for April was down -0.1 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 0.9 percent to 1.0 percent. 

    8:30 am PCE Prices-Core report for April was 0.2 percent. That was exactly in line with the expected number and matched the prior reported figure.

    9:45 am Chicago PMI report for May was 65.5. The Market was expecting 60.3. The prior reported figure was also 63.0. 

    9:55 am Michigan Sentiment – Final report for May was 81.9. The Market was expecting 81.4. The prior reported figure was 81.8.

  • S&P 500 Closes at New High’s Despite Dismal Q1 GDP Report



    DOW  16,698.74   +65.56 points or +0.39%
    S&P 500 1,920.03  +10.25 points or +0.54%

    NASDAQ 4,247.95  +22.87 points or  +0.54%

    Russell 2000  1,140.06  +3.38 points or +0.30%

     

    The Market opened slightly higher this morning and remained positive throughout the day lifting the S&P 500 to another new all time high, despite a depressing GDP report showing the economy actually contracted -1.0 percent for the first quarter of 2014. This dismal GDP report was deemed an aberration placing the blame on the severe winter weather. The extent that the slowdown in the economy is actually a casualty of the poor weather as opposed to underlying fundamental challenges in our economy is open for debate. As of today, the bulls overpowered  the bears as reflected in the market moving higher. 

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


    May 27

    8:30 am Durable Orders report for April was 0.8 percent. The Market was expecting -1.3 percent. The prior reported figure was revised from 2.9 percent to 3.6 percent.

    8:30 am Durable Goods-ex transportation report for April was 0.1 percent. The Market was expecting -0.2 percent. The prior reported figure was revised from 2.4 percent to 2.9 percent. 

    9:00 am Case-Schiller 20-city Index report for March was 12.4 percent. The Market was expecting 11.8 percent. The prior reported figure was 12.9 percent. 

    9:00 am FHFA Housing Price Index for March was 0.7 percent. The prior reported figure was 0.6 percent. 

    10:00 am Consumer Confidence report for May was 83.0. The Market was expecting 82.7. The prior reported figure was revised from 82.3 down to 81.7.


    May 28

    7:00 am MBA Mortgage Index report for May 24 was down -1.2 percent. The prior reported figure was up 0.9 percent.


    May 29

    8:30 am Initial Claims report for May 24 was 300,000. The Market was expecting 318,000. The prior reported figure was revised from 326,000 to 327,000. 

    8:30 am Continuing Claims report for May 17 was 2,631,000. The Market was expecting 2,650,000. The prior reported figure was revised from 2,653,000 to 2,648,000.

    8:30 am GDP-Second Estimate report for Q1 was down -1.0 percent. The Market was expecting down -0.5 percent. The prior reported figure was 0.1 percent. 

    8:30 am GDP Deflator-Second Estimate report for Q1 was 1.3 percent. That was exactly in line with Market expectations as well as the prior reported figure.

    10:00 am Pending Home Sales report for April was 0.4 percent. The Market was expecting 1.0 percent. The prior reported figure was 3.4 percent.

    10:30 am Natural Gas Inventories report for May 24 was 114bcf. The prior reported figure was 106bcf. 

    11:00 am Crude Inventories report for May 24 was 1.657M.  The prior reported figure was -7.226M.


    May 30

    8:30 am Personal Income report for April

    8:30 am Personal Spending report for April

    8:30 am PCE Prices-Core report for April

    9:45 am Chicago PMI report for May

    9:55 am Michigan Sentiment – Final report for May

  • S&P 500 Slips Slightly Falling Off New High Levels



    DOW  16,633.18   -42.32 points or -0.25%
    S&P 500 1,909.78  -2.13 points or -0.11%

    NASDAQ 4,225.07  -11.99 points or  -0.28%

    Russell 2000  1,136.82  -5.38 points or -0.47%

     

    The Market opened lower and hovered slightly lower all day closing near the days lows in another light volume post Memorial Day holiday trading session. The S&P 500 index falls back off yesterdays all time highs closing slightly lower. Treasury bond yields continue to sink dropping down to 2.44 % on the 10 year Treasury bond. Federal Reserve Chair Janet Yellen said she is concerned by the housing slowdown. Ms Yellen also stated she is not certain there is anything the Fed can do about it. 

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


    May 27

    8:30 am Durable Orders report for April was 0.8 percent. The Market was expecting -1.3 percent. The prior reported figure was revised from 2.9 percent to 3.6 percent.

    8:30 am Durable Goods-ex transportation report for April was 0.1 percent. The Market was expecting -0.2 percent. The prior reported figure was revised from 2.4 percent to 2.9 percent. 

    9:00 am Case-Schiller 20-city Index report for March was 12.4 percent. The Market was expecting 11.8 percent. The prior reported figure was 12.9 percent. 

    9:00 am FHFA Housing Price Index for March was 0.7 percent. The prior reported figure was 0.6 percent. 

    10:00 am Consumer Confidence report for May was 83.0. The Market was expecting 82.7. The prior reported figure was revised from 82.3 down to 81.7.


    May 28

    7:00 am MBA Mortgage Index report for May 24 was down -1.2 percent. The prior reported figure was up 0.9 percent.


    May 29

    8:30 am Initial Claims report for May 24 

    8:30 am Continuing Claims report for May 17 

    8:30 am GDP-Second Estimate report for Q1

    8:30 am GDP Deflator-Second Estimate report for Q1

    10:00 am Pending Home Sales report for April

    10:30 am Natural Gas Inventories report for May 24

    11:00 am Crude Inventories report for May 24


    May 30

    8:30 am Personal Income report for April

    8:30 am Personal Spending report for April

    8:30 am PCE Prices-Core report for April

    9:45 am Chicago PMI report for May

    9:55 am Michigan Sentiment – Final report for May

  • S&P 500 Closes at New Highs Russell Index Rally’s Big


    DOW  16,675.50   +69.23 points or +0.42%
    S&P 500 1,911.91  +11.38 points or +0.60%

    NASDAQ 4,237.07  +51.26 points or  +1.22%

    Russell 2000  1,142.20  +16.01 points or +1.42%

     

    The Market opened higher after the long Memorial Holiday weekend and held the gains throughout the day lifting the S&P 500 index to another all time closing high. The small cap stocks, which under performed for most of May, have lead the rally back up on Friday and again today. The Russell 2000 index clearly outperformed the other indexes jumping up just shy of 1.5 percent. 

    The trading volume was light today and it is expected to be light for the remainder of the short 4 day trading week. 


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


    May 27

    8:30 am Durable Orders report for April was 0.8 percent. The Market was expecting -1.3 percent. The prior reported figure was revised from 2.9 percent to 3.6 percent.

    8:30 am Durable Goods-ex transportation report for April was 0.1 percent. The Market was expecting -0.2 percent. The prior reported figure was revised from 2.4 percent to 2.9 percent. 

    9:00 am Case-Schiller 20-city Index report for March was 12.4 percent. The Market was expecting 11.8 percent. The prior reported figure was 12.9 percent. 

    9:00 am FHFA Housing Price Index for March was 0.7 percent. The prior reported figure was 0.6 percent. 

    10:00 am Consumer Confidence report for May 


    May 28

    7:00 am MBA Mortgage Index report for May 24 


    May 29

    8:30 am Initial Claims report for May 24 

    8:30 am Continuing Claims report for May 17 

    8:30 am GDP-Second Estimate report for Q1

    8:30 am GDP Deflator-Second Estimate report for Q1

    10:00 am Pending Home Sales report for April

    10:30 am Natural Gas Inventories report for May 24

    11:00 am Crude Inventories report for May 24


    May 30

    8:30 am Personal Income report for April

    8:30 am Personal Spending report for April

    8:30 am PCE Prices-Core report for April

    9:45 am Chicago PMI report for May

    9:55 am Michigan Sentiment – Final report for May