Archive for March 3rd, 2015

  • Stock Market Begins March Galloping Upward; NASDAQ Crosses 5000


    DOW 18,288.63  +155.93 points or  +0.86%
    S&P 500  2,117.39  +12.89 points  +0.61%

    NASDAQ  5,008.10  +44.57 points or  +0.90

    Russell 2000  1,242.62  +9.25 points or  +0.75%

     

    The Stock Market began March galloping upward. The NASDAQ index crossed the 5000 level for the first time since the year 2000. The NASDAQ 5,000 mark has sparked a great debate. Are we back up at unsustainable levels? 15 years have passed, the internet and tech valuations have had time to find industry accepted valuation models. So no, there will not be a repeat of the tech bubble we experienced in the year 2000.  Crude Oil appears to be content to hang around the $50 per barrel level, closing just under $50 today. The volatility index, the VIX, continues to slowly work its way back to the 12 level, closing down -2.25 percent at 13.04. The 10 Year Treasury bond yield closed up around 2.08 percent. Trading volume saw about 6.6 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.


    March 2

    8:30 AM Personal Income report for January was 0.3 percent. The Market was expecting 0.4 percent. The prior reported figure was 0.3 percent. 

    8:30 AM Personal Spending report for January was down -0.2 percent. The Market was expecting down -0.1 percent. The prior reported figure was also down -0.3 percent. 

    8:30 AM PCE Prices-Core report for January was 0.1 percent. The Market was expecting 0.2 percent. The prior reported figure was flat. 

    10:00 AM ISM Index report for February was 52.8. The Market was expecting 53.0. The prior reported figure was 53.5.

    10:00 AM Construction Spending report for January was down -1.1 percent. The Market was expecting 0.2 percent. The prior reported figure was revised from 0.4 percent to 0.8 percent. 


    March 3

    2:00 PM Auto Sales report for February 

    2:00 PM Truck Sales report for February


    March 4

    7:00 AM MBA Mortgage Index report for February 28

    8:15 AM ADP Employment Change report for February

    10:00 AM ISM Services report for February

    10:30 AM Crude Inventories report for February 28

    2:00 PM Fed's Beige Book report for March


    March 5

    7:30 AM Challenger Job Cuts report for February

    8:30 AM Initial Claims report for February 28

    8:30 AM Continuing Claims report for February 21

    8:30 AM Productivity -Revenue report for Q4

    8:30 AM Factory Orders report for January

    10:30 AM Natural Gas Inventories report for February 28


    March 6

    8:30 AM Nonfarm Payrolls report for February 

    8:30 AM Nonfarm Private Payrolls for February

    8:30 AM Unemployment Rate report for February

    8:30 AM Hourly Earnings report for February

    8:30 AM Average Workweek report for February 

    8:30 AM Trade Balance report for January

    3:00 PM Consumer Credit report for January