Archive for December, 2014

  • Stock Market Closed Relatively Unchanged; Crude Oil Remains Below $55/Barrel


    DOW 18,038.23  -15.48 points or  -0.09%
    S&P 500  2,090.57  +1.80 points  +0.09%

    NASDAQ 4,806.91  +0.05 points or  +0.00%

    Russell 2000  1,219.11  +3.90 points or  +0.32%

     

    In another uneventful Holiday trading session, the Stock Market closed relatively unchanged for the day. The Market opened lower and immediately traded higher into slightly positive territory trading near the unchanged level for the remainder of the day. Crude Oil futures closed below the $54 per barrel level for the 2nd consecutive trading session. Oil is now trading at the lowest level since 2009 on oil supply concerns. OPEC is clearly more concerned about their own oil Market share than oil prices. OPEC has not cut output. Many US oil drillers have been forced to cap the most oil rigs since 2012. For many oil drillers to make money, Crude Oil needs to trade above $55 per barrel. As expected during holiday week trading, the Market volatility has dried up. The volatility index, the VIX, moved up +0.56 or up 3.86 percent to close at 15.06. The 10 Year Treasury bond yield moved a bit lower, closing around 2.21 percent. Interest rates began 2014 with most economists and analysts expecting rates to rise over 3 percent to 3.5 percent on the 10 year Treasury bond. They were wrong. Rates promptly traded lower in 2014 and have remained low throughout the year and into the end of the year with the 10 year Treasury bond most likely to close below the 2.3 percent yield level on December 31st. Trading volume saw about 4.8 billion shares changing hands across all trading venues, according to BATS exchange data. The economic calendar will be very light this week. 

     

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


    January 2

    10:00 am ISM Index report for December

    10:00 am Construction Spending report for November

  • Stock Market Extends Rebound Rally for 3rd Consecutive Session led By Energy Equities


    DOW 17,804.80  +26.65 points or  +0.15%
    S&P 500  2,070.65  +9.42 points  +0.46%

    NASDAQ 4,765.38  +16.98 points or  +0.36%

    Russell 2000  1,195.96  +3.80 points or  +0.32%

     

    The Stock Market extended the rebound rally for the 3rd consecutive trading day. The Market opened higher, dipped at midday, and then ran back higher in the afternoon closing the week strong. Energy stocks rebounded with fury and led the Market higher. The S&P energy index rallied almost 10 percent for the week. Crude Oil rallied and held the days gains running up over 6.5 percent to close at 59.07 on the May Crude Oil futures contract. The volatility index shed -1.09 percent to close down at 16.49. The 10 Year Treasury bond yield moved down slightly, closing around 2.17 percent. Trading volume saw about 11.7 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.


    December 15

    8:30 am Empire Manufacturing report for December was down -3.6. The Market was expecting 14.0. The prior reported figure was 10.2.

    9:15 am Industrial Production report for November was 1.3 percent. The Market was expecting 0.7 percent. The prior reported figure was revised from down -0.1 percent to up 0.1 percent.

    9:15 am Capacity Utilization report for November was 80.1 percent. The Market was expecting 79.3 percent. The prior reported figure was revised from 78.9 percent to 79.3 percent.

    10:00 am NAHB Housing Market Index report for December was 57. The Market was expecting 58. The prior reported figure was also 58.

    4:00 pm Net Long-Term TIC Flows report from October 


    December 16 

    8:30 am Housing Starts report for November was 1,028,000. The Market was expecting 1,035,000. The prior reported figure was revised from 1,009,000 to 1,045,000.

    8:30 am Building Permits report for November was 1,035,000. The Market was expecting 1,060,000. The prior reported figure was revised from 1,080,000 to 1,092,000. 


    December 17

    7:00 am MBA Mortgage Index report for December 13 was down -3.3 percent. The prior reported figure was 7.3 percent.

    8:30 am CPI report for November was down -0.3 percent. The Market was expecting -0.1 percent. The prior reported figure was flat. 

    8:30 am Core CPI report for November was up 0.1 percent. That was exactly in line with expectations. The prior reported figure was up 0.2 percent.

    8:30 am Current Account Balance for 3rd Quarter was down -$100.3B. The Market was expecting down -$95.0B. The prior reported figure was revised from down -$98.5B to down -$95.4B.

    10:30 am Crude Inventories report for December 13 was down -0.847M. The prior reported figure was 1.454M.

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


    December 18

    8:30 am Initial Claims report for December 13 was 289,000. The Market was expecting 292,000. The prior reported figure was revised from 294,000 to 295,000.

    8:30 am Continuing Claims report for December 6 was 2,373,000. The Market was expecting 2,510,000. The prior reported figure was revised from 2,54,000 to 2,510,000. 

    10:00 am Philadelphia Fed report for December was 24.5. The Market was expecting 26.0. The prior reported figure was 40.8.

    10:00 am Leading Indicators report for November was up 0.6 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from 0.9 percent to 0.6 percent. 

    10:30 am Natural Gas Inventories report for December 13 was down -64bcf. The prior reported figure was down -51bcf.

  • The Bull is Back. Stock Market Sprints Higher for 2nd Consecutive Day


    DOW 17,778.15  +421.28 points or  +2.43%
    S&P 500  2,061.23  +48.34 points  +2.40%

    NASDAQ 4,748.40  +104.08 points or  +2.24%

    Russell 2000  1,192.16  +17.33 points or  +1.47%

     

    The Bull is back. The Market sprinted higher for the second consecutive trading session. The S&P 500 enjoyed its biggest one day gain since 2013. The Market opened up strong, and continued to rally throughout the day closing up near the days highs. Crude Oil ran up to $60 per barrel early this morning, only to slide back into negative territory closing near the session lows down 3.31 percent  at $55.86 per barrel. The Stock Market completely shed all fears currently associated with the huge decline in oil prices and rallied big. As the Market rallied, the volatility index dropped again as the VIX lost over 13 percent to close down at 16.81. The 10 Year Treasury bond yield moved up slightly, closing up at 2.20 percent. Trading volume saw about 8.7 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.


    December 15

    8:30 am Empire Manufacturing report for December was down -3.6. The Market was expecting 14.0. The prior reported figure was 10.2.

    9:15 am Industrial Production report for November was 1.3 percent. The Market was expecting 0.7 percent. The prior reported figure was revised from down -0.1 percent to up 0.1 percent.

    9:15 am Capacity Utilization report for November was 80.1 percent. The Market was expecting 79.3 percent. The prior reported figure was revised from 78.9 percent to 79.3 percent.

    10:00 am NAHB Housing Market Index report for December was 57. The Market was expecting 58. The prior reported figure was also 58.

    4:00 pm Net Long-Term TIC Flows report from October 


    December 16 

    8:30 am Housing Starts report for November was 1,028,000. The Market was expecting 1,035,000. The prior reported figure was revised from 1,009,000 to 1,045,000.

    8:30 am Building Permits report for November was 1,035,000. The Market was expecting 1,060,000. The prior reported figure was revised from 1,080,000 to 1,092,000. 


    December 17

    7:00 am MBA Mortgage Index report for December 13 was down -3.3 percent. The prior reported figure was 7.3 percent.

    8:30 am CPI report for November was down -0.3 percent. The Market was expecting -0.1 percent. The prior reported figure was flat. 

    8:30 am Core CPI report for November was up 0.1 percent. That was exactly in line with expectations. The prior reported figure was up 0.2 percent.

    8:30 am Current Account Balance for 3rd Quarter was down -$100.3B. The Market was expecting down -$95.0B. The prior reported figure was revised from down -$98.5B to down -$95.4B.

    10:30 am Crude Inventories report for December 13 was down -0.847M. The prior reported figure was 1.454M.

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


    December 18

    8:30 am Initial Claims report for December 13 was 289,000. The Market was expecting 292,000. The prior reported figure was revised from 294,000 to 295,000.

    8:30 am Continuing Claims report for December 6 was 2,373,000. The Market was expecting 2,510,000. The prior reported figure was revised from 2,54,000 to 2,510,000. 

    10:00 am Philadelphia Fed report for December was 24.5. The Market was expecting 26.0. The prior reported figure was 40.8.

    10:00 am Leading Indicators report for November was up 0.6 percent. The Market was expecting 0.5 percent. The prior reported figure was revised from 0.9 percent to 0.6 percent. 

    10:30 am Natural Gas Inventories report for December 13 was down -64bcf. The prior reported figure was down -51bcf.


  • Stock Market Screamed Higher Across the Board


    DOW 17,356.87  +288.00 points or  +1.69%
    S&P 500  2,012.89  +40.15 points  +2.04%

    NASDAQ 4,644.31  +96.48 points or  +2.12%

    Russell 2000  1,174.83  +35.45 points or  +3.11%

     

    The Market screamed higher across the board. The Market jumped up in the morning, and steadily rallied higher throughout the trading session and closed up near the highs of the day. The small cap Russel 2000 index led the Market higher jumping up over 3 percent higher on the day.

    Both McDonald's and Exxon Mobil rallied up over 3 percent each on the day.  Crude Oil went on another wild ride today, trading below $56 per barrel in the morning and then up trading up just under $60 per barrel mid day and then closed basically unchanged just under $58 per barrel. The Stock Market volatility dropped as the Stock Market rallied, losing over 17.5 percent to close down at 19.44. The 10 Year Treasury bond yield popped, closing up at 2.15 percent. Trading volume saw about 9.5 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.


    December 15

    8:30 am Empire Manufacturing report for December was down -3.6. The Market was expecting 14.0. The prior reported figure was 10.2.

    9:15 am Industrial Production report for November was 1.3 percent. The Market was expecting 0.7 percent. The prior reported figure was revised from down -0.1 percent to up 0.1 percent.

    9:15 am Capacity Utilization report for November was 80.1 percent. The Market was expecting 79.3 percent. The prior reported figure was revised from 78.9 percent to 79.3 percent.

    10:00 am NAHB Housing Market Index report for December was 57. The Market was expecting 58. The prior reported figure was also 58.

    4:00 pm Net Long-Term TIC Flows report from October 


    December 16 

    8:30 am Housing Starts report for November was 1,028,000. The Market was expecting 1,035,000. The prior reported figure was revised from 1,009,000 to 1,045,000.

    8:30 am Building Permits report for November was 1,035,000. The Market was expecting 1,060,000. The prior reported figure was revised from 1,080,000 to 1,092,000. 


    December 17

    7:00 am MBA Mortgage Index report for December 13 was down -3.3 percent. The prior reported figure was 7.3 percent.

    8:30 am CPI report for November was down -0.3 percent. The Market was expectiing -0.1 percent. The prior reported figure was flat. 

    8:30 am Core CPI report for November was up 0.1 percent. That was exactly in line with expectations. The prior reported figure was up 0.2 percent.

    8:30 am Current Account Balance for 3rd Quarter was down -$100.3B. The Market was expecting down -$95.0B. The prior reported figure was revised from down -$98.5B to down -$95.4B.

    10:30 am Crude Inventories report for December 13 was down -0.847M. The prior reported figure was 1.454M.

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


    December 18

    8:30 am Initial Claims report for December 13

    8:30 am Continuing Claims report for December 6

    10:00 am Philadelphia Fed report for December

    10:00 am Leading Indicators report for November

    10:30 am Natural Gas Inventories report for December 13