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Sep 23, 2017 - Weekend Market Update

TradeWise – Weekend Update

September 23, 2017

 

The big news this past week was the announcement from the Fed that they will begin to unwind the $4.5 trillion balance sheet. The FOMC's decision to begin trimming down its balance sheet will mean one less buyer in the bond market which in turn looks to result in rising rates and falling Treasury prices. Policy makers stated that the rise will be gradual, orderly and limited. The week's economic data may have been mixed and did take a backseat to the Fed, but a close look may justify the increasing odds for a December hike. According to the Fed Funds market, expectations for a hike in December is up to 71% and rising. The rise in rates is having little negative effect on stocks but the rally did sputter out by the end of the week. The Dow industrials went on a nine session rally but fell minimally on Thursday and Friday. For the week, the S&P 500 Index (SPX) finished up 0.1% while the Blue Chip-heavy Dow Jones Industrial Average ($DJI) rose 0.4%.  The Nasdaq (QQQ) fell 1.1% as the FAANG stocks took a hit led by Apple (AAPL), which dumped 5.6% after connection issues with its new watch were reported. A bright spot for equities was the small caps (IWM) which rose 1.3% and settled at an all-time high.

After the Fed announcement on Wednesday, Bond prices reversed from their recent slide but still finished down for the week. The benchmark 10-Year yield rose 6 bps to settle at 2.26% and is up 20 bps over the last two weeks.  Oil (/CL) finished the week up 1.6% and is hovering just above a key support level. Crude settled above $50 a barrel for the first time since the end of July.  Gold (/GC) took a modest hit from its recent rally. The precious metal fell 1.8% as the U.S. Dollar ($DXY) rallied off of 33-month lows over the last two weeks.

One of the busiest data weeks of the year gets rolling on Monday with the Dallas Fed manufacturing report which will offer specifics on Hurricane Harvey's effects. Tuesday follows with Case-Shiller home prices which are expected to firm somewhat. New home sales and consumer confidence for September are released later on Tuesday with neither expected to show significant hurricane effects. Janet Yellen speaks about the economy on Tuesday and could take the opportunity to clarify remarks from the prior week's FOMC decision to begin balance-sheet unwinding. Wednesday begins with durable goods orders where continued strength in core capital goods are expected with pending home sales to follow in a report that, like the housing sector itself, has not shown much strength at all. The third estimate of second-quarter GDP is out on Thursday morning and a small upgrade from the second estimate's 3% is the call. Jobless claims are the week's wildcard and may show continuing labor-market effects from Hurricane Irma's landfall on Florida. The week ends on Friday with personal income and spending where expectations are mixed.


Major Earnings for the Upcoming Week:

Monday:

A.M. –  N/A

P.M.– ASNA, RHT, SNX

 

Tuesday:

A.M.DRI

P.M.CTAS, MU, NKE

 

Wednesday:

A.M. – N/A

P.M. –JBL, PIR, THO

 

Thursday:

A.M. –ACN, BBRY, CAG, MKC, RAD, MTN

P.M. –KBH

 

Friday:

A.M.– N/A

 

Economic Releases (9/25– 9/29):

Monday:

7:30 am CT – Fed’s Dudley Speaks

7:30 am CT – Chicago Fed National Activity Index  

9:30 am CT – Dallas Fed Mfg. Survey

11:40 am CT – Fed’s Evans Speaks

5:30 pm CT – Fed’s Kashkari Speaks

                                                                                                                                                                          

Tuesday:

8:00 am CT – S&P Case-Shiller HPI

8:30 am CT – Fed’s Mester Speaks

8:30 am CT – Fed’s Evans Speaks

9:00 am CT – New Home Sales

9:00 am CT – Consumer Confidence

9:00 am CT – Richmond Fed Mfg. Index

10:50 am CT – Fed’s Yellen Speaks

12:00 pm CT – 2-Year Note Auction

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

7:30 am CT – Durable Goods Orders

8:15 am CT – Fed’s Kashkari Speaks

9:00 am CT – Pending Home Sales

9:30 am CT – Oil Inventories

12:00 pm CT – 5-Year Note Auction

12:30 pm CT – Fed’s Bullard Speaks

 

Thursday:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – GDP

7:30 am CT – International Trade in Goods

8:45 am CT – Fed’s George Speaks

9:00 am CT – Leading Economic Indicators

9:30 am CT – Natural Gas Inventories

10:00 am CT – Kansas City Fed Mfg. Index

12:00 pm CT – 7-Year Note Auction

 

Friday:

7:30 am CT – Personal Income and Outlays

8:45 am CT – Chicago PMI

9:00 am CT – Consumer Sentiment

10:00 am CT – Fed’s Harker Speaks

12:00 pm CT – Baker-Hughes Rig Count

 

*Follow us on Twitter @TradeWise

 

*BOLDabove indicates important and potential market-moving news and information

                                                   

TradeWise is offering a free trial for 2 trading strategies for 60 days each: Use coupon code  marketblog to apply this trial on your current account at www.tradewise.com  or contact us at support@tradewise.com

 

Join the other recipients and help provide some feedback on our daily market blog and Weekend Update by sending an e-mail to support@tradewise.com.  Your suggestions are important to us in providing the highest quality service.

Sep 22, 2017 - Market Blog

9/22/2017

 

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U.S. Equity futures (/ES) are on the path to a lower open to round out the week as North Korea raises the stakes yet again in its ongoing political drama.  The isolated regime has just warned of a possible hydrogen bomb test over the Pacific Ocean in open contempt of yesterday’s imposed heightened sanctions intended to further paralyze funding. The Dow Industrials ($DJI) fell for the first day in 10 yesterday after notching another record high earlier in the session as the prospects of another rate hike appear unavoidable by year-end.  Consumer staples surrendered 1% with Proctor and Gamble (PG) losing twice that amount to become the biggest laggard of all Dow components.  Tech stocks were also hit for the 4th straight day as the Nasdaq Composite (COMP) dropped 33 points to close at $6422 as shares of Apple (AAPL) led the retreat off rumors of I-watch connectivity issues. Small Caps (RUT) have remained surprisingly firm with the index hanging on near a two-month high just under record territory at $1444. Overall, volatility has remained extremely docile with the CBOE Volatility Index (VIX) closing under $10 for the past three sessions even in the midst of the Fed Meeting. 

 

Oil prices will be watched carefully as OPEC members contemplate an extension to the current production cut regimen of 1.8 million barrels per day through March.  Economists are split if a decision is imminent or if more legwork is required to support pricing after the U.S. revealed a 9.51 million bpd pace in this week’s EIA report. The weekly rig count will also shed light in assessing damage from the recent storm surge. Gold Futures (/GC) are hovering at a new monthly low right on its 50 day average near $1300 an ounce, but may see some added activity should more trouble emerge out of the Far East. 

 

Members from the Federal Reserve will be out in force today with multiple speaking engagements scheduled to highlight their most recent meeting decision to begin the unwinding of their unprecedented $4.5 T balance sheet by early October in an attempt to normalize. The Flash composite purchasing manager’s index will be released just after the opening bell as the sole source of data. Economists are expecting a consensus reading of 52.9 which would be its highest since March signaling overall business vitality.  

 

Stock Stories:

Finish Line (FINL) - Stumbling- Shares of yet another apparel retailer are coming under renewed pressure this morning as comparable sells plummeted nearly 5% over the last quarter.  Shares of FINL are down a staggering 63% from highs notched in late December as traditional brick and mortar businesses continue to lose the battle with online retailers. The company saw revenue of $469 Million to capture $0.12 in earnings for Q2. 

 

United States Steel (X) -Cooling Off? - Shares of X are showing more signs of fatigue after a notable analyst downgrade came overnight. U.S. steel enjoyed a recent renaissance near $42 a share in anticipation of Trump’s aggressive agenda to revitalize U.S. infrastructure while fighting for imported steel tariffs which have been slow to materialize.  Shares are trading near $24 pre-market as a result. 

 

Major Economic Reports:

5:00 am CT – Fed’s Williams Speaks

8:30 am CT – Fed’s George Speaks

8:45 am CT – PMI Composite Flash

9:00 am CT – Atlanta Fed Business Inflation Expectations

12:00 pm CT – Baker-Hughes Rig Count

12:30 pm CT – Fed’s Kaplan Speaks

  

Notable Earnings:   

Friday – 9/22:   

Before MarketKMX, FINL

After Market:  N/A

 

Monday – 9/25:

Before Market:  N/A

After Market: RHT

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60  days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

 

Join the other recipients and help provide some feedback on our daily market blog by sending an e-mail to support@tradewise.com. Your suggestions are important to us in providing the highest quality service.

Sep 21, 2017 - Market Blog

9/21/2017

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The Dow Industrials (DIA) and S&P 500 (SPX) closed at record highs once again on Wednesday. Yesterday’s focus was on the FOMC meeting announcement where no action was taken on interest rates. The Fed indicated another rate hike this year was possible and that they would begin to unwind its balance sheet starting next month. Treasuries sold off immediately on the news and the 10-year yield jumped to a monthly high of 2.27%. This morning, U.S. equity futures (/ES) are down slightly as traders digest the comments from the Fed. The U.S. Dollar ($DXY) is flat after spiking yesterday following the announcement by the FOMC. We could see the greenback continue to gain some steam and reverse from the 10% drop since the start of the year.

 

Bonds are up slightly on the heels of yesterday's selloff in Treasuries after the market was somewhat surprised by the hawkish bent from the FOMC. The 10-year Treasury is modestly lower at 2.26%. However, Japanese JGB yields closed lower after the BoJ left its uber-accommodation in place with a dovish slant. Equities are mixed overseas with Asian shares, outside of Japan, weaker. European markets are firmer as EUR-USD slipped. The news overnight showed the Norges Bank, Philippines and Taiwan central banks leaving policy unchanged, as expected. The ECB economic bulletin repeated the need for accommodation. In the U.S. today, attention will turn to data on the September Philly Fed index, weekly jobless claims, the FHFA home price index, and August leading indicators.

 

Stock Stories:

JP Morgan Chase (JPM) – Bull run – The banking giant has been on a tear lately as interest rates have spiked. The shares of JPM are up 7% over the last 9 sessions and are following rates in lockstep. The stock hit an all-time high yesterday but is down slightly ahead of the opening bell as rates reverse ahead of the Wall Street open.

 

Major Economic Reports:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Philly Fed Business Outlook Survey

8:00 am CT – FHFA House Price Index

9:00 am CT – Leading Economic Indicators

9:30 am CT – Natural Gas Inventories

  

Notable Earnings:   

Thursday – 9/21:   

Before Market:   MANU

After Market:  N/A

 

Friday – 9/22:

Before Market:  KMX, FINL

After Market: N/A

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60  days each: Use coupon code  Marketblog to apply this trial on your current account at www.tradewise.comor contact us at support@tradewise.com

 

Join the other recipients and help provide some feedback on our daily market blog by sending an e-mail to support@tradewise.com.  Your suggestions are important to us in providing the highest quality service.

Sep 20, 2017 - Market Blog

9/20/2017

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The Dow Industrials posted another record close on Tuesday after Trump gave a speech at the U.N. meeting. The President attempted to rally member nations to confront countries such as North Korea and Iran. The Fed also kicked off its two-day meeting yesterday and will give their comments on monetary policy this afternoon. No rate hike is expected but investors will watch for comments on a plan to reduce the $4.5T balance sheet.  This morning, U.S. equity futures (/ES) are very quiet once again as the market stays on hold ahead of the Federal Reserve policy announcement this afternoon. Stocks have traded in a tight range this week as traders prepare for the FOMC meeting.

 

Treasury yields are lower with the 10-year note down 2 bps to 2.22%. Asian rates closed slightly higher while Europe saw a slight downturn. Equities are holding either side of unchanged in subdued action overseas as the markets shrugged off President Trump's comments on North Korea yesterday before the U.N. Oil futures (/CL) are up modestly and holding above $50 a barrel. Attention is on today's FOMC result along with the SEP (Summary of Economic Projections), followed by Chair Yellen's presser at 1:30 CT. Economic data today includes August existing home sales and weekly oil inventories. The MBA reported mortgage applications dropped 9.7% in the week ended September 15.

 

Stock Stories:

FedEx (FDX) – Damaged Delivery – The delivery company posted a weaker than expected quarterly report after the close yesterday. The company missed on EPS while revenue was in-line due to the fallout from the cyberattack on its TNT unit. The company’s shares are feeling the pain this morning as they are down over 1% ahead of the open.

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

9:00 am CT – Existing Home Sales

9:30 am CT – Oil Inventories

1:00 pm CT – FOMC Meeting Announcements

1:30 pm CT –Fed Chair Yellen Press Conference

  

Notable Earnings:   

Wednesday – 9/20:   

Before Market:   GIS

After Market:  N/A

 

Thursday – 9/21:

Before Market:  MANU

After Market: N/A

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60  days each: Use coupon code  Marketblog to apply this trial on your current account at www.tradewise.comor contact us at support@tradewise.com

 

Join the other recipients and help provide some feedback on our daily market blog by sending an e-mail to support@tradewise.com.  Your suggestions are important to us in providing the highest quality service.

Sep 19, 2017 - Market Blog

9/19/2017

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The Dow Industrials posted its fifth straight record close to kick off the week on Monday. Gains in blue-chips Boeing (BA) and Caterpillar (CAT) led equities and the banking sector continued to outperform. The S&P 500 (SPX) also settled at another all-time high but the tech-heavy Nasdaq (NDX)  pulled back from intraday records to finish slightly in the red. The FAANG stocks (FB, AAPL, AMZN, NFLX & GOOG) were all in the red as investors rotated out of the sector. This morning, U.S. equity futures (/ES) are trading slightly higher and are looking to extend yesterday’s gains. Investors will digest the last big set of earnings today as Adobe (ADBE), Bed Bath & Beyond (BBBY) and FedEx (FDX) report after the close.  

 

Oil (/CL) prices are slightly higher this morning and continue to hold above $50 a barrel. API data is due after the close and Saudi Arabia stated that oil exports had fallen in June.  Treasuries are up modestly ahead of the Wall Street open and reversing from seven straight days of declines. The 10-Year Yield is near the 2.2% level and has risen 19 basis points over the past week. Japanese markets reopened after a holiday yesterday and the Nikkei surged 1.96% amid expectations Abe will call for a snap election. European markets are cautiously higher amid the choppiness in U.S. equities. A stronger than expected German investor confidence reading supported stocks. The U.S. markets are looking forward to the 2-day FOMC meeting, which begins today. The calendar also includes August housing starts, import and export prices, and the API oil data.

 

Stock Stories:

Chipotle (CMG) – Cheesy – The Mexican fast casual chain rolled out its new all-natural queso dip at all of its locations this week. The product was supposed to be a game changer in the space but so far the reviews have been mostly negative on social media. The company’s shares have dumped to four and a half year lows and expectations are falling that the queso can revive sales.

 

Major Economic Reports:

FOMC Meeting Begins

7:30 am CT – Housing Starts

7:30 am CT – Import and Export Prices

  

Notable Earnings:   

Tuesday – 9/19:   

Before Market:   AZO

After Market:  AIR, ADBE, BBBY, FDX

 

Wednesday – 9/20:

Before Market:  GIS

After Market: N/A

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60  days each: Use coupon code  Marketblog to apply this trial on your current account at www.tradewise.comor contact us at support@tradewise.com

 

Join the other recipients and help provide some feedback on our daily market blog by sending an e-mail to support@tradewise.com.  Your suggestions are important to us in providing the highest quality service.

Sep 18, 2017 - Market Blog

9/18/2017

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U.S. equity futures (/ES) are trading modestly higher and are looking to extend last week’s solid gains. The Dow Industrials (DIA) posted its largest weekly gains since December as investors ignore any headwinds. Traders have become complacent despite markets hitting all-time highs while all of the major indices are up over 11% this year. The main focus this week will be the FOMC meeting this week, which begins on Tuesday with the announcement and press conference from Chair Yellen on Wednesday afternoon. No rate hike is expected but traders will watch the central bank for details on the unwinding of its massive $4.5 Trillion balance sheet.  

 

Oil (/CL) prices are slightly lower this morning after a solid week of gains. Crude is hovering near $50 a barrel and optimism for higher demand has driven up prices. Treasury yields continued higher overnight along with equities. The 10-Year Yield is near the 2.2% level and has resistance at 2.22%, which is its 50-day moving average. Overseas equities are firmer on the heels of record highs on Wall Street, with a near 1.3% surge in the Hang Seng leading the way. Eurozone growth was confirmed at the preliminary 1.5% y/y pace. Today's domestic economic calendar is light, as it is for most of the week ahead outside of the FOMC. On tap today is the September NAHB homebuilder sentiment index, expected flat at 68 and the Treasury capital flows (TIC report) for July also scheduled

 

Stock Stories:

Apple (AAPL) – Rally resumes – The tech product-maker saw its stock rebound on Friday after three straight negative sessions following the announcement of its new phones.  The shares have support at its 50-day moving average of $156 and looks to have weathered the post-announced downturn in the near-term.

 

Major Economic Reports:

9:00 am CT – Housing Market Index

3:00 pm CT – Treasury International Capital

  

Notable Earnings:   

Monday – 9/18:   

Before Market:   N/A

After Market:  N/A

 

Tuesday – 9/19:

Before Market:  AZO

After Market: AIR, ADBE, BBBY, FDX

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60  days each: Use coupon code  Marketblog to apply this trial on your current account at www.tradewise.comor contact us at support@tradewise.com

 

Join the other recipients and help provide some feedback on our daily market blog by sending an e-mail to support@tradewise.com.  Your suggestions are important to us in providing the highest quality service.

Showing Week of Sep 11, 2017

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Sep 16, 2017 - Weekend Market Update

TradeWise – Weekend Update

September 16, 2017

 

Hurricanes and geopolitical actions could not damper the enthusiasm investors had this past week. U.S. stocks rose to record levels on Friday and posted solid weekly gains. Traders are ignoring the choppy data and focusing on strong corporate results along with a an optimistic consumer. The Dow Industrials posted its biggest weekly gain since early December of last year. The banking sector led markets this week and posted its biggest gains since June. The rising rate environment helped the sector outperform the overall market. Inflation has been underperforming but a solid CPI number on Thursday gave investors the support for another rate hike this year.  Retail sales fell 0.2 percent in August due to a steep 1.6 percent drop in vehicle sales, one tied at least in part to Houston flooding. The report also included a sharp downward revision to July which together with August have cut the outlook for third-quarter consumer spending. For the week, the S&P 500 Index (SPX) finished up 1.6% while the Blue Chip-heavy Dow Jones Industrial Average ($DJI) rose 2.2%.  The Nasdaq (QQQ) rose 1.2% while the small caps (IWM) were also strong by jumping 2.3%.

Gasoline prices spiked this past week due to the refinery outages in the south and Oil (/CL) finished the week sharply higher. Crude jumped 5.9% and broke through resistance at the $50 a barrel level.  Gold (/GC) took a break from its recent gains as the equity market rallied. The precious metal fell 2%, which was its first weekly downward move since July. Treasuries were in action as demand shrunk after the rise in the core CPI. The 2-year yield shot up 13 basis points to 1.38% in a giant move that points to new expectations for more aggressive withdrawal of FOMC stimulus. The 10-year yield, at 2.20%, rose 14 basis points and has broken the recent slide 2-month slide.

The upcoming week will be dominated by Wednesday's FOMC announcement, quarterly forecasts and Yellen press conference. There will no rate action at the meeting but the beginning of balance-sheet tapering definitely is in focus. Housing will be the week's data theme with the housing market index on Monday expected to show September hurricane effects though starts and permits on Tuesday are not expected to show significant August effects. Existing home sales for August start off Wednesday's action and effects from Harvey are possible while home prices, where strength has been underpinning consumer confidence, will get attention on Thursday with the FHFA housing price index where strength is the call. Also out on Thursday will be initial jobless claims and Hurricane Irma's hit on Florida is expected to inflate the data. Also out Thursday will be the Philly Fed manufacturing report and the latest hurricane update on delivery delays and price increases followed on Friday by the PMI of September flashes that aren't expected to show much hurricane effects at all.


Major Earnings for the Upcoming Week:

Monday:

A.M. –  N/A

P.M.– N/A

 

Tuesday:

A.M.– AZO

P.M.AIR, ADBE, BBBY, FDX

 

Wednesday:

A.M. – GIS

P.M. –N/A

 

Thursday:

A.M. –MANU

P.M. –N/A

 

Friday:

A.M.KMX, FINL

 

Economic Releases (9/18– 9/22):

Monday:

9:00 am CT – Housing Market Index

3:00 pm CT – Treasury International Capital

                                                                                                                                                                          

Tuesday:

FOMC Meeting Begins

7:30 am CT – Housing Starts

7:30 am CT – Import and Export Prices

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

9:00 am CT – Existing Home Sales

9:30 am CT – Oil Inventories

1:00 pm CT – FOMC Meeting Announcements

1:30 pm CT –Fed Chair Yellen Press Conference

 

Thursday:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Philly Fed Business Outlook Survey

8:00 am CT – FHFA House Price Index

9:00 am CT – Leading Economic Indicators

9:30 am CT – Natural Gas Inventories

 

Friday:

5:00 am CT – Fed’s Williams Speaks

8:30 am CT – Fed’s George Speaks

8:45 am CT – PMI Composite Flash

9:00 am CT – Atlanta Fed Business Inflation Expectations

12:00 pm CT – Baker-Hughes Rig Count

12:30 pm CT – Fed’s Kaplan Speaks

 

*Follow us on Twitter @TradeWise

 

*BOLDabove indicates important and potential market-moving news and information

                                                   

TradeWise is offering a free trial for 2 trading strategies for 60 days each: Use coupon code  marketblog to apply this trial on your current account at www.tradewise.com  or contact us at support@tradewise.com

 

Join the other recipients and help provide some feedback on our daily market blog and Weekend Update by sending an e-mail to support@tradewise.com.  Your suggestions are important to us in providing the highest quality service.

Sep 15, 2017 - Market Blog

9/15/2017

*Geopolitical Risks!  Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days  - email support@tradewise.com or call 877.733.6786*

U.S. stocks traded in a tight range yesterday as investors mulled more gains for equities.  Apple was weak again yesterday after its product launch on Tuesday, which sent the entire tech sector lower. This morning, U.S. equity futures (/ES) are trading only slightly lower despite another missile test from North Korea, its fifteenth such test this year. The market's reaction appears to be muted since the White House said yesterday their surveillance showed the launch was imminent. Also on the geopolitical front, London experienced a terror attack today after a bomb was detonated at a metro station with many injured.

 

Oil (/CL) prices are slightly higher this morning after hitting three and a half month highs during yesterday’s session. Crude is hovering near $50 a barrel and has broken through its 200-day moving average, which could become near-term support. Treasury yields continued higher overnight on bearish momentum and more hawkish comments from central bankers. The 10-Year Yield is near the 2.2% level and has risen for four straight sessions. The usually dovish BoE member Vileghe backed the message from yesterday of a rate hike in coming months. Also ECB's Lautenschlaeger, who said now is the time for a decision on QE, also rattled rate markets. The upside in yields may have been contained somewhat by news of the N. Korea missile launch. Equities are mixed with weakness in Europe offsetting a 0.5% rally in the Nikkei. Today's calendar includes several reports of interest, though the effects from Harvey will make analysis difficult. On tap is the September Empire State index, August retail sales, industrial production, July business inventories and preliminary September consumer sentiment.

 

Stock Stories:

Equifax (EFX) – Falling knife?! – The credit monitoring company has seen its shares fall 33% since a security breach. The Federal Trade Commission disclosed that it has begun an investigation into the Equifax data breach, which affected roughly 143M Americans, resulting in shares falling to their lowest in over two years.

 

Major Economic Reports:

7:30 am CT –  Retail Sales

7:30 am CT –  Empire State Manufacturing Survey

8:15 am CT – Industrial Production

9:00 am CT – Consumer Sentiment

9:00 am CT – Business Inventories

12:00 pm CT – Baker-Hughes Rig Count

  

Notable Earnings:   

Friday – 9/15:   

Before Market:   N/A

After Market:  N/A

 

Monday – 9/18:

Before Market:  N/A

After Market: SCS

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60  days each: Use coupon code  Marketblog to apply this trial on your current account at www.tradewise.comor contact us at support@tradewise.com

 

Join the other recipients and help provide some feedback on our daily market blog by sending an e-mail to support@tradewise.com.  Your suggestions are important to us in providing the highest quality service.

Sep 14, 2017 - Market Blog

9/14/2017

 

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Major U.S. Equity indices stretched to all-time highs again yesterday as plans of the unveiling of the Republican sponsored tax plan look to be revealed sooner than previously expected.  The S&P 500 (SPX) finished just 2 points shy of a monumental $2500 reading which will likely be treated as the next hurdle after a 50 point rebound so far this week notches a 33rd record close so far in 2017.  The Dow Industrials ($DJI) saw Chevron (CVX) as its highest individual performer with a 1.5% increase to climb the benchmark up 39 points to 22,158.  Small Caps (RUT) continue to enjoy recent momentum as well after tacking on nearly 2% this week alone. Ideal conditions have kept the CBOE Volatility Index essentially in a holding pattern as of late tracking under $11 for most of the week. 

 

Global equities are taking pause this morning after Asian markets saw negative repercussions around disappointing industrial production out of China. The shocking data exposed the slowest increase of the year adjoined with stagnating retail sales. Fixed asset investments also imploded to multi-year lows which have sent shockwaves throughout the commodity complex with concerns of an economic slowdown. Nickel, copper, and silver are all trending lower as a result. Gold Futures (/GC) are also gearing for a 4th consecutive lower open to test a new Sept low near $1321 an ounce. Crude futures (/CL) captured 5 week highs yesterday pressing against $50 a barrel with global demand looking more prevalent in Wednesday’s IEA report.

 

CPI Data is due momentarily with economists expecting a 0.3% rise in inflation for the month of August.  The U.S. dollar (DXY) will likely be ultra-sensitive to the reading as any sizeable jump may signal an expedited rate hike after tacking on 1% so far this week.  The U.S. 10 year yield shot up to 2.2% which is the highest level in 5 weeks with positive prospects around the tax bill inertia.  In related news, the Bank of England just warned that a rate hike is imminent in Britain in order to fend of rising inflation as the global markets still struggle weaning off accommodative stimulus. Weekly unemployment figures will be shared pre-market with an expected 303K new applications as the target. 

 

Stock Stories:

Oracle (ORCL) – On Deck-  The software company is expected to see cloud sales exceed software licenses this afternoon for the first time ever as the company’s model has shifted 180 degrees over the past few years.  Shares of ORCL are up nearly 6% in September ahead of their much anticipated quarterly report.  Option markets are currently pricing in a move of +/- $2.34 or 4% in response. 

 

Major Economic Reports:

7:30 am CT – Consumer Price Index

7:30 am CT – Unemployment Claims

9:30 am CT – Natural Gas Inventories

  

Notable Earnings:   

 

Thursday – 9/14:   

Before Market:   N/A

After Market:  ORCL

 

Friday – 9/15:

Before Market:  N/A

After Market:  N/A

 

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**BOLD above indicates important and potential market-moving news and information

 

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Sep 13, 2017 - Market Blog

9/13/2017

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U.S. stocks rose moderately on Tuesday amid new record highs for the top three indices. Apple was the headline on a moderately active session as the tech product maker announced its new offerings. The shares drove the Nasdaq to new highs but fell modestly into the close. This morning, U.S. equity futures (/ES) are pointing to moderate losses at the open as investors hope the market can build on the rally over the past two days. The promise of tax reform has pushed stocks to record levels with the Dow, S&P and Nasdaq closing at new all-time highs. Investors will be looking at inflation data when the producer prices report is released today and they will also watch the weekly Department of Energy inventory report for clues on demand for oil products following the recent hurricanes.

 

Oil (/CL) prices are slightly higher this morning after the API reported a higher than expected inventory build yesterday after the close. Crude continues to trade in a relatively tight range but is beginning to show signs that a pickup in demand may boost prices. Bonds remained weaker yesterday but are up slightly ahead of the open as stocks are in the red. The 10-year yield has perked up this week after hitting 10-month lows at the end of last week. Inflation data released today and tomorrow will be closely watched to solidify the expectations of another rate hike at the December FOMC meeting. Overseas stocks were slightly higher and are following the U.S. market lead.  The U.S. calendar is moderate today with focus on the PPI data and oil inventories along with another Treasury auction of 30-Year Bonds.

 

Stock Stories:

Apple (AAPL) – Launch! – The tech product maker announced its new products yesterday at its new headquarters. The company announced a new stand-alone watch, 4K Apple TV and two new iPhone models. The shares moved down slightly after the announcement and is failing a bit today ahead of the Wall Street open.  

 

Major Economic Reports:

7:30 am CT – Producer Price Index (PPI)

10:00 am CT – Oil Inventories

12:00 pm CT – 30 Year Bond Auction

1:00 pm CT – Treasury Budget

  

Notable Earnings:   

Wednesday – 9/13:   

Before Market:   CBRL

After Market:  UNFI

 

Thursday – 9/14:

Before Market:  N/A

After Market: ORCL

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

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Join the other recipients and help provide some feedback on our daily market blog by sending an e-mail to support@tradewise.com.  Your suggestions are important to us in providing the highest quality service.

Sep 12, 2017 - Market Blog

9/12/2017

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U.S. stocks rose sharply on Monday to kick off the week for investors. Damage from Hurricane Irma was not as bad as feared but still caused havoc across Florida. Investors also were bullish on no negative news on the geopolitical front out of North Korea. The Banking sector led the gains along with tech and the insurers. The S&P 500 Index (SPX) rallied 1.1%, which was its biggest one-day gain since late April. Apple (AAPL) snapped a 4-session losing streak on Monday ahead of its unveiling of the latest iteration of the iPhone, which will come this afternoon. This morning, U.S. equity futures (/ES) are higher, suggesting an extension to yesterday's rally. Investors are waiting on today's Apple (AAPL) product reveal event, which begins at 12:00 pm CT. Analysts are hoping the presentation fulfills the expectations that have been built over the past several months, during which Apple shares have risen fairly steadily.

 

Oil (/CL) prices are slightly higher this morning and following through on yesterday’s modest jump. Crude continues to trade in a relatively tight range and is hovering just above its 50-day moving average. Bonds remained weaker overnight while equities excluding the FTSE continued higher, extending Monday's action. Stronger than expected U.K. CPI led to the underperformance of the UK, where the 10-year Gilt yield is up nearly 4 bps to 1.068% and the 10-year U.S. Treasury almost 2 bps higher at 2.155%. Otherwise, stocks continued firmer, with Asia well supported by Monday's 1.19% surge in the Dow industrials. The U.S. calendar is thin today, and much of the focus will remain on the destruction from the hurricanes. JOLTS job openings and weekly chain store sales are the only data and the Treasury reopens $20 B in 10-year notes.

 

Stock Stories:

Apple (AAPL) – Launch! – The tech product maker announces its new products today at its new headquarters. Expectations are high for the new iPhones as its supercycle begins. Apple stock is already up 40% this year and is just below all-time highs. The shares will move markets as it’s the largest company in stock valuation and also one of the largest components of the Dow, Nasdaq and S&P 500.  

 

Major Economic Reports:

5:00 am CT – NIFB Small Business Optimism Index

9:00 am CT – JOLTS

12:00 pm CT – 10-Year Note Auction

  

Notable Earnings:   

Tuesday – 9/12:   

Before Market:   N/A

After Market:  AMRK

 

Wednesday – 9/13:

Before Market:  CBRL

After Market: UNFI

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

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Join the other recipients and help provide some feedback on our daily market blog by sending an e-mail to support@tradewise.com.  Your suggestions are important to us in providing the highest quality service.

Sep 11, 2017 - Market Blog

9/11/2017

 

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Global markets breathe a sigh of relief as Hurricane Irma was downgraded to a tropical storm overnight as it continues to weaken while heading more inland. Although still destructive, initial assessments are only indicating about 25% of expected damage occurring as the storm shift fended off the worst case scenario.  Positive developments out of China in relation to ceasing yuan manipulation were also applauded as much of Asia started off the week stronger.  A welcome recovery in the recently battered U.S. dollar also helped to give the export-intensive countries a break.  European markets have been led by almost a 2% rebound in insurance companies to open nearly 1% higher across the board on multiple exchanges. 

 

Gold Futures (/GC) are seeing its steepest intra-day decline in nearly a month as traders appetite for risk returns after major hurdles have been cleared over the weekend including North Korea’s anniversary celebration with no further provocation. U.S. 10 year treasury rates have also inched back above 2.10% after a 4 basis point turnaround occurred with the major shift in sentiment with a string of bond auctions lined up throughout the week. 

 

Economic news will be essentially non-existent today with nothing meaningful appearing on the calendar until tomorrow.  Domestically, we are seeing S&P Futures (/ES) up by double digits as volatility is likely expected to contract with no further danger on the horizon.  Equity markets are back within reach of all-time highs will less resistance expected.  Oil futures (/CL) have continued to gravitate in a tight range near $47.50 a barrel with the total impact of the storm’s lasting effect on demand is still unknown. 

 

Stock Stories:

Apple (AAPL) –Happy Anniversary!  The Iconic tech company will celebrate the 10 year anniversary of the life changing I-Phone with another product release tomorrow.  There is much at stake as expectations have increased around the various features that the rumored I-Phone X will offer to entice loyal customers to shell out well over $1,000 for the new device.  Shares were down each of the four sessions last week, but are indicating a 1% rally so far in the pre-market. 

 

Major Economic Reports:

 

N/A  

 

Notable Earnings:   

 

Monday – 9/11:

Before Market:   N/A

After Market:  N/A

 

Tuesday – 9/12:

Before Market:  N/A

After Market:  N/A

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60  days each: Use coupon code  Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

 

Join the other recipients and help provide some feedback on our daily market blog by sending an e-mail to support@tradewise.com. Your suggestions are important to us in providing the highest quality service.