Archive for February 25th, 2015

  • Stock Market Rallies on Fed Chair Yellen’s Dovish Rate Testimony


    DOW 18,209.19  +92.35 points or  +0.51%
    S&P 500  2,115.48  +5.82 points  +0.28%

    NASDAQ  4,968.12  +7.15 points or  +0.14%

    Russell 2000  1,233.98  +2.15 points or  +0.17%

     

    The Stock Market rallied upon hearing Federal Reserve Chair Janet Yellen's dovish rate testimony. The Market opened lower, rallied into positive territory around 10 am ET, and remained modestly higher throughout the day closing off the days high. Crude Oil was stable today, hovering around the $49.25 per barrel level. The volatility index, the VIX, melted again, losing -5.98 percent to close at 13.69.  The 10 Year Treasury bond yield dropped down to 1.99  percent as Janet Yellen's testimony revealed her continued dovish rate policy. Trading volume saw 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.


    February 23

    10:00 AM Existing Home Sales report for January was 4.82M. The Market was expecting 4.95M. The prior reported figure was revised from 5.04M to 5.07M.


    February 24

    9:00 AM Case-Schiller 20-city Index report for December was 4.5 percent. The Market was expecting 4.3 percent. The prior reported figure was 4.3 percent. 

    10:00 AM Consumer Confidence report for February was 96.4. The Market was expecting 99.6. The prior reported figure was revised from 102.9 to 103.8.


    February 25

    7:00 AM MBA Mortgage Index report for February 21 

    10:00 AM New Home Sales report for January 

    10:30 AM Crude Inventories report for February 21


    February 26

    8:30 AM Initial Claims report for February 21

    8:30 AM Continuing Claims report for February 14

    8:30 AM CPI report for January

    8:30 AM Core CPI report for January

    8:30 AM Durable Orders report for January

    8:30 AM Durable Goods-ex transportation report for January

    9:00 AM FHFA Housing Price Index report for December

    10:30 AM Natural Gas Inventories report for February 21


    February 27

    8:30 AM GDP-Second Estimate report for Quarter 4

    8:30 AM GDP Deflator-Second Estimate Quarter 4

    9:45 AM Chicago PMI report for February 

    10:00 AM Michigan Sentiment-Final report for February

    10:00 AM Pending Home Sales report for January