The Closing Look

Stocks opened higher but closed lower on Monday after the latest round of tepid economic data was released. Over the weekend, the G-20 meeting disappointed investors while China announced more easy money.  China’s stock market fell again which prompted China’s Central Bank to cut it’s reserve requirements in another attempt to stimulate their market. In the U.S, economic data remained tepid at best. Chicago PMI fell to 47.6, missing estimates for 52.9. Pending home sales slid by -2.5% in January, missing estimates for a gain of +0.5%. The Dallas Fed Mfg Survey fell to negative -8.5. The Dallas Fed’s general activity index was much worse than expected and fell to negative -31.8 in February vs minus 34.6 in January. Monday was also the last trading day of the month.

Gary’s Thoughts: Feels like the opposite of Feb 11-12 when we told you a low is in. Feels like a high is in now. There is just not much we like about this market.

Investor's Edge: 02/29/2016

Investor’s Edge: 02/29/2016

Chart Of The Day: Hillary Working Hard For The Common Man




China Reserve-Ratio Cut Signals Growth Takes Priority Over Yuan

China Reserve-Ratio Cut Signals Growth Takes Priority Over Yuan

Pending Sales of U.S. Existing Homes Fall by Most in Two Years

The Morning Look

Stock Market Overview: 

Futures are slightly higher ahead of Monday’s open. Stocks rallied sharply over the past three weeks and are now trading near important areas of resistance (the 50 DMA line).

Gary’s Thoughts: Caerful! Google the words “eye of the hurricane!”

Economic Data: 

  • Chicago PMI 9:45 AM ET
  • Pending Home Sales Index 10:00 AM ET
  • Dallas Fed Mfg Survey 10:30 AM ET
  • Farm Prices 3:00 PM ET

Highlights Of The Day:

  • Spoiler Alert: G-20 Meeting Ends With A Stalemate
    Gary’s Thoughts: We wish they just go away. They are killing us.
  • Oil Crisis Spreads: Arab States Face $94 Billion Debt Crunch on Oil Slump, HSBC Says
  • Gary’s Thoughts: Wait…there will be more!

Week Ahead: February Jobs Report @FoxBusiness

What’s at stake on Super Tuesday @FoxBusiness

After G20 stalemate, focus turns to signs of growth momentum

Buffett: US Economy Better Than Presidential Hopefuls Say @FoxBusiness