Market Update: Stock futures are quiet ahead of Wednesday’s open as the market continues trading in a relatively tight trading range. Gary’s Thoughts: Quiet is the word. Not much to add. Economic Data: MBA Mortgage Applications 7:00 AM ET FHFA House Price Index 9:00 AM ET Existing Home Sales 10:00 AM ET EIA Petroleum Status Report 10:30 AM ET…
Stocks were quiet on Monday as oil prices fell by over -3%. In recent sessions, oil flirted with resistance near $50/barrel and is now pulling back a bit. In M&A news, Pfizer ($PFE) said it will acquire Medivation ($MDVN) for $81.50/share, or about $14 billion in cash. Medivation has one big cancer drug that attracted Pfizer to…
Market Update: Stock futures are higher ahead of Tuesday’s open as the market remains strong. Gary’s Thoughts: Futures are up just beacause. Watch financials and watch major indices from the past few week’s tight action. A move above and …. Economic Data: Redbook 8:55 AM ET New Home Sales ]10:00 AM ET Richmond Fed Manufacturing Index 10:00 AM ET…
None of our themes have changed. The breakout of the 18 month trading range in the Dow and S&P was nothing but bullish. We said that based on precedent. Whenever a couple of major indices break out of long ranges, it usually works for a while. But there was something else that was also very…
Market Update: Stock futures are a little lower ahead of Monday’s open as the market remains strong. Gary’s Thoughts: No biggie. Indices remain tight. Economic Data: Chicago Fed National Activity Index 8:30 AM ET 4-Week Bill Announcement 11:00 AM ET 3-Month Bill Auction 11:30 AM ET 6-Month Bill Auction 11:30 AM ET Highlights: Promised prosperity never arrived in Russian-held Crimea,…
Market Update: Stock futures are lower ahead of Friday’s open as the market pulls back from record highs. Gary’s Thoughts: No way…futures down? Of course, it will get bought up as market never goes down. Bazinga! Watch oils. Watch financials…and for a chancge, those numbers for AMAT were very good. Economic Data: Baker-Hughes Rig Count 1:00 PM ET…
Thursday was a relatively quiet day on Wall Street as the market continues to digest the recent and strong post-brexit rally. So far, the action remains healthy as the major indices continue to move sideways and we are not seeing any heavy selling. Additionally, we are seeing some healthy action emerge under neath the surface….
On Tuesday, the market ended lower after the Yen rallied sharply overnight. The Yen is considered a risk-off asset class and tends to do well when stocks (risk-on) fall. Economic data was light. The Consumer Price Index (CPI) was unchanged which matched estimates and continues to show inflation remains a non-event right now. Elsewhere, housing…
Market Update: Stock futures are mixed to slightly lower ahead of Wednesday’s open as the market continues pulling back from record highs. Gary’s Thoughts: You mean retail actually goes down on bad numbers…TGT,LOW hit…but PLCE,URBN up nicely. Economic Data: Bank Reserve Settlement MBA Mortgage Applications 7:00 AM ET Atlanta Fed Business Inflation Expectations 10:00 AM ET EIA Petroleum Status…
On Monday, stocks rallied along side oil prices on hopes of a possible supply cut. On Monday, Russian Energy Minister Alexander Novak told a Saudi newspaper that his country was consulting with Saudi Arabia and other large oil producers to take measures to stabilize oil prices. In the U.S., the Empire State Manufacturing Survey fell to negative…
