Stocks fell on Tuesday as investors digested the latest round of economic data. The S&P Case-Shiller Index slid -0.1% on a monthly basis and missed estimates for a gain of +0.1%. Overall, the index rose by 5.1% vs the same period last year. Elsewhere, consumer confidence rose to 101.1, beating estimates for 97.3. Shares of Hershey (HSY) plunged after the company rejected the latest buyout offer. Finally, shares of Apple (AAPL) fell after the EU said it wants to fine them $14.5B.
Gary’s Thoughts: A little more deterioration…more to come.
Stock futures are quiet ahead of Wednesday’s open as the market continues trading near record highs.
Gary’s Thoughts: Dollar/discount retail, Gold, silver, metals, mining, steel, utilities, reits (not all), retail (many), tobacco, other consumer staples,auto part retail, lots of healthcare…..notice more and more areas under pressure here. Does not mean the end of the world especially with financials getting good money flows. Just paying attention.
- Bank Reserve Settlement
- Eric Rosengren Speaks 3:15 AM ET
- MBA Mortgage Applications 7:00 AM ET
- Neel Kashkari Speaks 8:00 AM ET
- ADP Employment Report 8:15 AM ET
- Chicago PMI 9:45 AM ET
- Pending Home Sales Index 10:00 AM ET
- EIA Petroleum Status Report 10:30 AM ET
- Farm Prices 3:00 PM ET
- Charles Evans Speaks 3:15 PM ET
- SpaceX to Reach Another Milestone With Re-Use of Rocket Booster
Gary’s Thoughts: Hoping for success.
- Lamborghini Pivots to Target Women and Families
Gary’s Thoughts: At $300,000 a pop?