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…
Market Update: Stock futures are lower ahead of Tuesday’s open as the market pauses to digest the recent and strong post brexit rally. Gary’s Thoughts: Watch gold in here…6 weeks tight range above 50 day. A breakout will be just that. Oh my goodness, futures are down. Wesuggest we saw some froth past few days…a deserved…
Market Update: Stock futures are higher ahead of Monday’s open as the recent and strong post brexit rally continues. Gary’s Thoughts: We are back in the states and will have a full technical report for you tonight…on teflon market. Really starting to see beta here. So the short version: None of our themes have changed. The breakout…
Market Update: Stock futures are lower ahead of Friday’s open after retail sales missed estimates and the market pauses to digest the recent and strong post brexit rally. Gary’s Thoughts: More fantastic economic data. Economic Data: PPI-FD 8:30 AM ET Retail Sales 8:30 AM ET Business Inventories 10:00 AM ET Consumer Sentiment 10:00 AM ET Baker-Hughes Rig Count 1:00 PM ET…
Market Update: Stock futures are higher ahead of Thursday’s open as the market continues its recent and strong post brexit rally. Gary’s Thoughts: Macys and Kohls come out with blah numbers…both gap up as the blah numbers were better than the expected blah numbers. Economic Data: Jobless Claims 8:30 AM ET Import and Export Prices…
Stocks fell on Wednesday which is perfectly normal after such a strong rally. Oil prices fell which dragged a slew of energy stocks lower. Before the open, Michael Kors ($KORS) reported earnings and beat expectations on both the top line and bottom line but the stock fell 3% on future guidance. Separately, Ralph Lauren ($RL) gapped up after the…
Market Update: Stock futures are quiet to a little higher ahead of Tuesday’s open as the recent and strong post brexit rally continues. Gary’s Thoughts: Quiet is good Economic Data: NFIB Small Business Optimism Index 6:00 AM ET Productivity and Costs 8:30 AM ET Redbook 8:55 AM ET Wholesale Trade 10:00 AM ET Highlights: Oil Jumped 3% on Monday After…
