Archive for November, 2014

  • S&P 500 Slips in Shortened Holiday Session; Crude Oil is Pounded




    DOW 17,828.24  +0.49 points or  +0.00%
    S&P 500  2,067.56  -5.27 points  -0.25%

    NASDAQ 4,791.63  +4.31 points or  +0.09%

    Russell 2000  1,173.23 -17.39 points or  -1.46%

     

    The S&P 500 slipped in a quiet Market in the shortened Holiday trading session. The Oil sector was pounded after January Crude Oil futures accelerated their slide dropping over 10 percent to close down at $66.26 per barrel on OPEC's refusal to cut output. Volatility picked up today, with the VIX  jumping up over 10 percent  to close at 13.33.  Treasury bonds yields continue melting, with the 10 year Treasury bond yield closing at 2.19 percent. Trading volume was about 4.5 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.


    November 25
    8:30 am GDP-Second Estimate report for the 3rd Quarter was 3.9 percent. The Market was expecting 3.2 percent. The prior reported figure was 3.5 percent. 
    8:30 am GDP Deflator- Second Estimate report for the 3rd Quarter was 1.4 percent. The Market was expecting 1.3 percent. The prior reported figure was also 1.3 percent. 
    9:00 am Case-Schiller 20-city Index report for September was 4.9 percent. The Market was expecting 4.6 percent. The prior reported figure was 5.6 percent. 
    9:00 am FHFA Housing Price Index report for September was flat. The prior reported figure was revised from 0.5 percent to 0.4 percent.
    10:00 am Consumer Confidence report for November was 88.7. The Market was expecting 96. The prior reported figure was revised from 94.5 to 94.1.

    November 26
    7:00 am MBA Mortgage Index report for November 22 was down -4.3 percent. The prior reported figure was 4.9 percent.
    8:30 am Initial Claims report for November 22 was 313,000. The Market was expecting 288,000. The prior reported figure was revised from 291,000 to 292,000. 
    8:30 am Continuing Claims report for November 15 was 2,316,000. The Market was expecting 2,348,000. The prior reported figure was revised from 2,330,000 to 2,333,000. 
    8:30 am Durable Orders report for October was 0.4 percent. The Market was expecting down –0.6 percent. The prior reported figure was revised from down -1.3 percent to down -0.9 percent. 
    8:30 am Durable Goods-ex transportation for October was down -0.9 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from down -0.2 percent to flat.
    8:30 am Personal Income report for October was 0.2 percent. The Market was expecting 0.4 percent. The prior reported figure was 0.2 percent. 
    8:30 am Personal Spending report for October was 0.2 percent. The Market was expecting 0.3 percent. The prior reported figure was revised from down -0.2 percent to flat.
    8:30 am PCE Prices-Core report for October was 0.2 percent. The Market was expecting 0.1 percent. The prior reported figure was 0.1 percent.
    9:45 am Chicago PMI report for November was 60.8. The Market was expecting 63.0. The prior reported figure was 66.2.
    9:55 am Michigan Sentiment – Final report for November was 88.8. The Market was expecting 90.0. The prior reported figure was 89.4.
    10:00 am New Home Sales report for October was 458,000. The Market was expecting 470,000. The prior reported figure was revised from 467,000 to 455,000. 
    10:00 am Pending Home Sales report for October was down -1.1 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from 0.3 percent to 0.6 percent. 
    10:30 am Crude Inventories report for November 22 was 1.946M. The prior reported figure was 2.608M.
    12:00 am Natural Gas Inventories report for November 22 was -162 bcf. The prior reported figure was -17 bcf.
  • S&P and Dow Close at New Highs On Thanksgiving Eve



    DOW 17,827.75  +12.81 points or  +0.07%
    S&P 500  2,072.83  +5.80 points  +0.28%

    NASDAQ 4,787.32  +29.07 points or  +0.61%

    Russell 2000  1,190.62  +4.29 points or  +0.36%

     

    On the eve of Thanksgiving Day, the Market rallied back up to new highs. The S&P 500 opened slightly higher and remained higher throughout the day to close up at new highs. The Dow also managed to squeeze in another new high close as well. There was a deluge of economic data released, and the Market barely moved on it. January Crude Oil futures continued to get clocked, trading down 4.4 percent to close down at $70.45 per barrel. Volatility continues to melt, with the VIX  dropping almost 1.5 percent  to close down at 12.07.  Treasury bonds yields continue to melt as well, with the 10 year Treasury bond yield closing at 2.23 percent. Happy Thanksgiving.

     

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


    November 25
    8:30 am GDP-Second Estimate report for the 3rd Quarter was 3.9 percent. The Market was expecting 3.2 percent. The prior reported figure was 3.5 percent. 
    8:30 am GDP Deflator- Second Estimate report for the 3rd Quarter was 1.4 percent. The Market was expecting 1.3 percent. The prior reported figure was also 1.3 percent. 
    9:00 am Case-Schiller 20-city Index report for September was 4.9 percent. The Market was expecting 4.6 percent. The prior reported figure was 5.6 percent. 
    9:00 am FHFA Housing Price Index report for September was flat. The prior reported figure was revised from 0.5 percent to 0.4 percent.
    10:00 am Consumer Confidence report for November was 88.7. The Market was expecting 96. The prior reported figure was revised from 94.5 to 94.1.

    November 26
    7:00 am MBA Mortgage Index report for November 22 was down -4.3 percent. The prior reported figure was 4.9 percent.
    8:30 am Initial Claims report for November 22 was 313,000. The Market was expecting 288,000. The prior reported figure was revised from 291,000 to 292,000. 
    8:30 am Continuing Claims report for November 15 was 2,316,000. The Market was expecting 2,348,000. The prior reported figure was revised from 2,330,000 to 2,333,000. 
    8:30 am Durable Orders report for October was 0.4 percent. The Market was expecting down –0.6 percent. The prior reported figure was revised from down -1.3 percent to down -0.9 percent. 
    8:30 am Durable Goods-ex transportation for October was down -0.9 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from down -0.2 percent to flat.
    8:30 am Personal Income report for October was 0.2 percent. The Market was expecting 0.4 percent. The prior reported figure was 0.2 percent. 
    8:30 am Personal Spending report for October was 0.2 percent. The Market was expecting 0.3 percent. The prior reported figure was revised from down -0.2 percent to flat.
    8:30 am PCE Prices-Core report for October was 0.2 percent. The Market was expecting 0.1 percent. The prior reported figure was 0.1 percent.
    9:45 am Chicago PMI report for November was 60.8. The Market was expecting 63.0. The prior reported figure was 66.2.
    9:55 am Michigan Sentiment – Final report for November was 88.8. The Market was expecting 90.0. The prior reported figure was 89.4.
    10:00 am New Home Sales report for October was 458,000. The Market was expecting 470,000. The prior reported figure was revised from 467,000 to 455,000. 
    10:00 am Pending Home Sales report for October was down -1.1 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from 0.3 percent to 0.6 percent. 
    10:30 am Crude Inventories report for November 22 was 1.946M. The prior reported figure was 2.608M.
    12:00 am Natural Gas Inventories report for November 22 was -162 bcf. The prior reported figure was -17 bcf.
  • S&P 500 and Dow pause for a Day, Closing Slightly Negative; Oil Hit Hard

    DOW 17,814.94  -2.96 points or  -0.02%
    S&P 500  2,067.03  -2.38 points  -0.12%

    NASDAQ 4,758.25  +3.36 points or  +0.07%

    Russell 2000  1,186.33  -0.61 points or  -0.61%

     

    After trading up at new highs over the past few sessions, the S&P 500 and Dow paused for a day, closing in slightly negative. The Market opened higher, and then abruptly sold off into negative territory, and then traded around the unchanged level for the remainder of the day closing slightly on the negative side. The January Crude oil futures were hit hard today, as the futures contract traded down over 2.5 percent to close down at $74.21 per barrel Th.e VIX  continues to sit at low levels, slipping almost 3 percent today to close down at 12.25.  Treasury bonds yields are slowly melting, with the 10 year closing down at a 2.26 percent yield.  Trading volume was about 6.1 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.


    November 25
    8:30 am GDP-Second Estimate report for the 3rd Quarter was 3.9 percent. The Market was expecting 3.2 percent. The prior reported figure was 3.5 percent. 
    8:30 am GDP Deflator- Second Estimate report for the 3rd Quarter was 1.4 percent. The Market was expecting 1.3 percent. The prior reported figure was also 1.3 percent. 
    9:00 am Case-Schiller 20-city Index report for September was 4.9 percent. The Market was expecting 4.6 percent. The prior reported figure was 5.6 percent. 
    9:00 am FHFA Housing Price Index report for September was flat. The prior reported figure was revised from 0.5 percent to 0.4 percent.
    10:00 am Consumer Confidence report for November was 88.7. The Market was expecting 96. The prior reported figure was revised from 94.5 to 94.1.

    November 26
    7:00 am MBA Mortgage Index report for November 22
    8:30 am Initial Claims report for November 22
    8:30 am Continuing Claims report for November 15
    8:30 am Durable Orders report for October
    8:30 am Durable Goods-ex transportation for October
    8:30 am Personal Income report for October
    8:30 am Personal Spending report for October
    8:30 am PCE Prices-Core report for October
    9:45 am Chicago PMI report for November 
    9:55 am Michigan Sentiment – Final report for November
    10:00 am New Home Sales report for October
    10:00 am Pending Home Sales report for October
    10:30 am Crude Inventories report for November 22
    12:00 am Natural Gas Inventories report for November 22
  • Dow and S&P 500 Move Slightly Higher to Close at New All Time Highs



    DOW 17,817.90  +7.84 points or  +0.04%
    S&P 500  2,069.41  +5.91 points  +0.29%

    NASDAQ 4,754.89  +41.92 points or  +0.89%

    Russell 2000  1,186.94  +14.52 points or  +1.24%

     

    The Dow and the S&P 500 both added to Fridays rally and closed up at new all time highs. The Market opened higher, and the S&P 500 basically remained at the morning highs for the remainder of the day. The Dow gave back most of the morning gains from the oil sector pulling it down, yet the Dow managed to close slightly plus to close at a new all time high. The tech heavy NASDAQ index enjoyed a nice day led by Apple's run up to another new all time high. The small cap sector enjoyed the strongest performance of the day as evidenced by the Russell 2000 index running up over 1 percent for the day. The January Crude oil futures were basically unchanged, trading down 0.05 percent to close at $75.74 per barrel. The VIX  slipped -2.17 percent to close down at 12.62.  Treasury bonds  closed at a 2.31 percent yield.  Trading volume was about 5.6 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.


    November 25
    8:30 am GDP-Second Estimate report for the 3rd Quarter
    8:30 am GDP Deflator- Second Estimate report for the 3rd Quarter
    9:00 am Case-Schiller 20-city Index report for September
    9:00 am FHFA Housing Price Index report for September
    10:00 am Consumer Confidence report for November

    November 26
    7:00 am MBA Mortgage Index report for November 22
    8:30 am Initial Claims report for November 22
    8:30 am Continuing Claims report for November 15
    8:30 am Durable Orders report for October
    8:30 am Durable Goods-ex transportation for October
    8:30 am Personal Income report for October
    8:30 am Personal Spending report for October
    8:30 am PCE Prices-Core report for October
    9:45 am Chicago PMI report for November 
    9:55 am Michigan Sentiment – Final report for November
    10:00 am New Home Sales report for October
    10:00 am Pending Home Sales report for October
    10:30 am Crude Inventories report for November 22
    12:00 am Natural Gas Inventories report for November 22