Stocks fell on Monday on the first trading day of the month and quarter. Economic data was mixed. The PMI Manufacturing Index came in at 51.5, lower than the last reading of 52.0. The ISM Manufacturing Index came in at 51.5, beating estimates for 50.2. Finally, construction spending slid -0.7%, missing estimates for 0.3%. Meanwhile,…
Market Update: Stock futures are slightly higher ahead of Tuesday’s open as investors wait for earnings season to begin in earnest next week. Gary’s Thoughts: Quiet with a little bump in Nasdaq but gold/silver are indeed breaking support before the open. We shall see if they hold. Economic Calendar: Jeffrey M. Lacker Speaks 8:05 AM ET…
Market Update: We will have a bigger report Monday night on both markets as well as the election but right now, we are in Ryder Cup heaven as we attended what we believe is the greatest sporting event we have ever been to…and we have been to many. Electric, patriotic, pressure packed just starts to…
Stocks fell on Thursday as investors digested the latest round of economic and earnings data. Before the open, the government said U.S. GDP rose 1.4% in the second quarter, beating estimates for 1.1%. Mid-day, stocks were slammed after some Deutsche Bank clients reduced collateral on trades. Separately, shares of Wells Fargo (WFC) took out their…
Stocks rallied on Wednesday as investors digested a rather busy day. Six Fed heads spoke, including Janet Yellen, with the big headline coming from Mr. Evans. Mr. Evans said, rates should stay low for a long time, and that sparked a nice afternoon rally. Elsewhere, oil surged after rumor spread that OPEC will cut production in November….
Market Update: Stock futures are flat ahead of Thursday’s open as investors approach the end of the month and the end of quarter. Gary’s Thoughts: Energy on radar screen now. Economic Calendar: Patrick Harker Speaks 5:00 AM ET GDP 8:30 AM ET International Trade in Goods 8:30 AM ET Jobless Claims 8:30 AM ET Corporate Profits 8:30 AM ET Dennis…
Stocks rallied on Tuesday after investors digested the first Presidential debate and the latest round of economic data. The S&P Case-Shiller index showed home prices were flat last month, missing estimates for a gain of 0.1%. Meanwhile, year-over-year, home prices rose by 5% which is a decent gain. A few home-builders rallied on the news….
Market Update: Stocks futures are flat ahead of Wednesday’s open as we approach the last few days of the month and quarter. Economic Data: We see the head honchos at Wells Fargo are now giving back money…but making $100 million and giving back $15 million will not suffice. Markets almost gets back what it lost on…
Stocks fell on Monday as investors waited for the first Presidential debate to begin at 9pm EST. The latest polls show that Donald Trump has surged in recent weeks and a Bloomberg poll released Monday morning showed both candidates were deadlocked. Economic data was relatively light, new home sales hit 609K in August vs. 597K estimate. Mario…
Market Update: Stocks futures gave back earlier gains and are now relatively unchanged ahead of Tuesday’s open as the market digests Monday night’s first Presidential Debate. Economic Data: Futures were up nicely overnight but now flat. We will have a complete wrap up on our thoughts on the debate tonight. Market icky here. Redbook 8:55 AM ET…
