Archive for July, 2014

  • Market Was Clocked S&P 500 Down -2.00%

    DOW 16,563.30 -317.06 points or -1.88%
    S&P 500 1,930.67  -39.40 points or  -2.00%

    NASDAQ 4,369.77  -93.13 points or  -2.09%

    Russell 2000  1,120.07  -26.50 points or -2.31%

     

    The Market was clocked today with the S&P 500 equity index dropping -2.00 percent. The recent five consecutive positive months for equities came to an end today. The Market was long overdue for a pullback. 

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


    July 28

    10:00 am Pending Home Sales report for June was -1.1 percent. The Market was expecting -0.8 percent. The prior reported figure was revised from 6.1 percent to 6.0 percent. 


    July 29

    9:00 am Case-Shiller 20-city Index report for May was 9.3 percent. The Market was expecting 10.0 percent. The prior reported figure was 10.8 percent.  

    10:00 am Consumer Confidence report for July was 90.9. The Market was expecting 85.6. The prior reported figure was revised from 85.2 to 86.4. 


    July 30

    7:00 am MBA Mortgage Index report for July 26 was -2.2 percent. The prior reported figure was 2.4 percent. 

    8:15 am ADP Employment Change report for July was 218,000. The Market was expecting 215,000.  The prior reported figure was 281,000. 

    8:30 am Chain Deflator-Adv report for Q2 was 2.0 percent. The Market was expecting 2.1 percent. The prior reported figure was 1.3 percent.

    10:30 am Crude Inventories report for July 26 was -3.697M. The prior reported figure was -3.969M.

    2:00 pm FOMC Rate Decision report for July was left unchanged at 0.25 percent.


    July 31 

    7:30 am Challenger Job Cuts report for July was 24.4 percent. The prior reported figure was -20.2 percent. 

    8:30 am Initial Claims report for July 26 was 302,000. The Market was expecting 301,000. The prior reported figure was revised from 284,000 to 279,000. 

    8:30 am Continuing Claims report for July 19 was 2,539,000. The Market was expecting 2,525,000. The prior reported figure was revised from 2,500,000 to 2,508,000. 

    8:30 am Employment Cost Index report for Q2 was 0.7 percent. The Market was expecting 0.4 percent. The prior reported figure was 0.3 percent. 

    9:45 am Chicago PMI report for July was 52.6. The Market was expecting 61.8. The prior reported figure was 62.6.

    10:30 am Natural Gas Inventories report for July 26 was 88 bcf. The prior reported figure was 90 bcf. 


    August 1

    8:30 am Nonfarm Payrolls report for July 

    8:30 am Nonfarm Private Payrolls report for July

    8:30 am Unemployment Rate report for July

    8:30 am Hourly Earnings report for July

    8:30 am Average Workweek report for July

    8:30 am Personal Income report for June

    8:30 am Personal Spending report for June

    8:30 am PCE Prices-Core report for June

    9:55 am Michigan Sentiment -Final report for July

    10:00 am ISM Index report for July

    10:00 am Construction Spending report for June

    2:00 pm Auto Sales report for July

    2:00 pm Truck Sales report for July

  • Mixed Market as Fed Keeps Rates Unchanged



    DOW 16,880.36 -31.75 points or -0.19%
    S&P 500 1,970.07  +0.12 points or  +0.01%

    NASDAQ 4,462.90  +20.20 points or  +0.45%

    Russell 2000  1,146.57  +4.93 points or +0.43%

     

    It was a mixed Market all day, with the DOW and S&P just a bit lower most of the day while the NASDAQ and small cap Russell 2000 index traded higher and closed up on the day. The Federal Reserve reassured the world that interest rates will remain low. The Fed remains concerned about the labor market and is committed to keeping rates low until the labor market further improves. As was expected, the Fed did decrease the monthly asset purchases from $35 billion per month down to $25 billion per month targeting October to reduce the monthly asset purchases down to zero. 

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


    July 28

    10:00 am Pending Home Sales report for June was -1.1 percent. The Market was expecting -0.8 percent. The prior reported figure was revised from 6.1 percent to 6.0 percent. 


    July 29

    9:00 am Case-Shiller 20-city Index report for May was 9.3 percent. The Market was expecting 10.0 percent. The prior reported figure was 10.8 percent.  

    10:00 am Consumer Confidence report for July was 90.9. The Market was expecting 85.6. The prior reported figure was revised from 85.2 to 86.4. 


    July 30

    7:00 am MBA Mortgage Index report for July 26 was -2.2 percent. The prior reported figure was 2.4 percent. 

    8:15 am ADP Employment Change report for July was 218,000. The Market was expecting 215,000.  The prior reported figure was 281,000. 

    8:30 am Chain Deflator-Adv report for Q2 was 2.0 percent. The Market was expecting 2.1 percent. The prior reported figure was 1.3 percent.

    10:30 am Crude Inventories report for July 26 was -3.697M. The prior reported figure was -3.969M.

    2:00 pm FOMC Rate Decision report for July was left unchanged at 0.25 percent.


    July 31 

    7:30 am Challenger Job Cuts report for July

    8:30 am Initial Claims report for July 26

    8:30 am Continuing Claims report for July 19

    8:30 am Employment Cost Index report for Q2

    9:45 am Chicago PMI report for July

    10:30 am Natural Gas Inventories report for July 26


    August 1

    8:30 am Nonfarm Payrolls report for July 

    8:30 am Nonfarm Private Payrolls report for July

    8:30 am Unemployment Rate report for July

    8:30 am Hourly Earnings report for July

    8:30 am Average Workweek report for July

    8:30 am Personal Income report for June

    8:30 am Personal Spending report for June

    8:30 am PCE Prices-Core report for June

    9:55 am Michigan Sentiment -Final report for July

    10:00 am ISM Index report for July

    10:00 am Construction Spending report for June

    2:00 pm Auto Sales report for July

    2:00 pm Truck Sales report for July


  • Market Lower UPS Down on Lower Earnings Forecast



    DOW 16,912.11 -70.48 points or -0.42%
    S&P 500  1,969.95  -8.96 points or  -0.45%

    NASDAQ 4,442.70  -2.21 points or  -0.05%

    Russell 2000  1,141.64  +2.14 points or +0.19%

     

    The Market opened higher, drifted around the unchanged level until after 2 pm when the Market sold off closing down on the day.  There were many earnings releases today. UPS, which many consider a bell weather stock, the worlds largest courier, dropped 3.7 percent to close down -3.80 closing at 98.86 on the day. UPS cut the firms earnings forecast for the year due to expenditures to increase the couriers capacity. In addition, UPS also reported lower than expected second quarter earnings. As of today, approximately 70 percent of the S&P companies that have reported earnings have beaten the expected numbers. About half of the S&P 500 companies have reported second quarter earnings so far. 

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


    July 28

    10:00 am Pending Home Sales report for June was -1.1 percent. The Market was expecting -0.8 percent. The prior reported figure was revised from 6.1 percent to 6.0 percent. 


    July 29

    9:00 am Case-Shiller 20-city Index report for May was 9.3 percent. The Market was expecting 10.0 percent. The prior reported figure was 10.8 percent.  

    10:00 am Consumer Confidence report for July was 90.9. The Market was expecting 85.6. The prior reported figure was revised from 85.2 to 86.4. 


    July 30

    7:00 am MBA Mortgage Index report for July 26

    8:15 am ADP Employment Change report for July 

    8:30 am Chain Deflator-Adv report for Q2

    10:30 am Crude Inventories report for July 26

    2:00 pm FOMC Rate Decision report for July 


    July 31 

    7:30 am Challenger Job Cuts report for July

    8:30 am Initial Claims report for July 26

    8:30 am Continuing Claims report for July 19

    8:30 am Employment Cost Index report for Q2

    9:45 am Chicago PMI report for July

    10:30 am Natural Gas Inventories report for July 26


    August 1

    8:30 am Nonfarm Payrolls report for July 

    8:30 am Nonfarm Private Payrolls report for July

    8:30 am Unemployment Rate report for July

    8:30 am Hourly Earnings report for July

    8:30 am Average Workweek report for July

    8:30 am Personal Income report for June

    8:30 am Personal Spending report for June

    8:30 am PCE Prices-Core report for June

    9:55 am Michigan Sentiment -Final report for July

    10:00 am ISM Index report for July

    10:00 am Construction Spending report for June

    2:00 pm Auto Sales report for July

    2:00 pm Truck Sales report for July


  • Market Drifts Slightly Positive


    DOW 16,982.59 +22.02 points or +0.13%
    S&P 500  1,978.91  +0.57 points or  +0.03%

    NASDAQ 4,444.91  -4.65 points or  -0.10%

    Russell 2000  1,139.50  -5.22 points or -0.46%

     

    The Market opened slightly lower and slowly drifted over the course of the day into positive territory edging out a plus close. The Stock Market initially opened lower on poor housing market data. On the specific stock news front, Dollar Tree offered to buy Family Dollar Stores for approximately $8.5 billion. Zillow agreed to buy Trulia for approximately $3,5 billion. There will be over 22 IPO’s this week totaling $6.7 billion. This will be the busiest IPO week since September of 2000. 

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


    July 28

    10:00 am Pending Home Sales report for June was -1.1 percent. The Market was expecting -0.8 percent. The prior reported figure was revised from 6.1 percent to 6.0 percent. 


    July 29

    9:00 am Case-Shiller 20-city Index report for May 

    10:00 am Consumer Confidence report for July 


    July 30

    7:00 am MBA Mortgage Index report for July 26

    8:15 am ADP Employment Change report for July 

    8:30 am Chain Deflator-Adv report for Q2

    10:30 am Crude Inventories report for July 26

    2:00 pm FOMC Rate Decision report for July 


    July 31 

    7:30 am Challenger Job Cuts report for July

    8:30 am Initial Claims report for July 26

    8:30 am Continuing Claims report for July 19

    8:30 am Employment Cost Index report for Q2

    9:45 am Chicago PMI report for July

    10:30 am Natural Gas Inventories report for July 26


    August 1

    8:30 am Nonfarm Payrolls report for July 

    8:30 am Nonfarm Private Payrolls report for July

    8:30 am Unemployment Rate report for July

    8:30 am Hourly Earnings report for July

    8:30 am Average Workweek report for July

    8:30 am Personal Income report for June

    8:30 am Personal Spending report for June

    8:30 am PCE Prices-Core report for June

    9:55 am Michigan Sentiment -Final report for July

    10:00 am ISM Index report for July

    10:00 am Construction Spending report for June

    2:00 pm Auto Sales report for July

    2:00 pm Truck Sales report for July