There has been a bet placed by the market over the past week or so and that is or was that the fed will raise rates sooner rather than later. This mantra has been going on for 22 months. 22 months ago, the fed stopped printing and since, has teased and yapped away rate hikes…
Stocks fell after most of Wednesday’s economic data strengthened the argument for another rate hike. ADP, the country’s largest private payrolls report, said private U.S. employers added 177k new jobs, beating estimates for 175k in July. Weekly mortgage applications rose by +2.8%, which was higher than last week’s reading of -2.1%. Elsewhere, pending home sales jumped…
Market Update: Stock futures are higher ahead of Thursday’s open as the Dow Jones Industrial Average pulled into its 50 day moving average line for the first time since Brexit. Elsewhere, UK factory orders jumped higher which helped alleviate concern that brexit would adversely affect their economy. Gary’s Thoughts: A wee bit higher as market awaits tomorrow’s…
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)…
Market Update: 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…
Stocks rallied on Monday as investors digested the latest round of economic data and last week’s Fed symposium in Jackson Hole. Consumer spending edged higher by +0.3% in July which matched the Street’s consensus. Meanwhile, the personal consumption expenditures (PCE) price index, which is one of the Fed’s preferred inflation indicators, rose 0.1% in July and is…
Market Update: Stock futures are quiet ahead of Tuesday’s open as the market continues trading near record highs. Gary’s Thoughts: Apple told to pay billions in taxes. Not much else happening! Economic Data: Redbook 8:55 AM ET S&P Case-Shiller HPI 9:00 AM ET Consumer Confidence 10:00 AM ET State Street Investor Confidence Index 10:00 AM ET 4-Week Bill Auction 11:30 AM…
Thursday was another quiet day on Wall Street as the market continued to consolidate the recent and strong post brexit rally and waited for Yellen’s speech and the latest reading on GDP on Friday. Economic data topped estimates, with initial jobless claims falling for a third consecutive week to 261,000. Separately, durable goods orders jumped…
Market Update: Stock futures are quiet ahead of Friday’s open as the market waits for GDP and Yellen’s speech from Jackson Hole, WY. Gary’s Thoughts: 10 am Yellen speech…blah blah blah! We’ll have big report for you on Sunday. And do not forget…WE ARE NOW INTO END OF MONTH WINDOW DRESSING…even though it is illegal to…
Source: http://www.wsj.com/articles/obama-administration-seeks-to-ease-concerns-over-health-insurance-spikes-1472061666
