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Feb 22, 2017 - Market Blog

2/22/2017

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The Dow Industrials (DIA), S&P 500 (SPX), Small Caps (IWM/RUT) and the tech-heavy Nasdaq (QQQ) hit new record highs on Tuesday. The optimism and straight-up markets are not concerning investors as stocks explode to the upside. The expectations for Tax Reform and Deregulation have supported the rally so the Trump administration better deliver, and soon. You now see traders chasing equities to the upside in fear they may miss out on the rally, which is never a strategy that works on a short-term basis. This morning, equity futures (/ES) are slightly lower following yesterday's record close for the market. Oil (/CL) are giving back some of yesterday’s gains in the pre-market. Crude rallied on news out of  OPEC that the production cuts are in full compliance by member nations. What the oil market may be forgetting is that rig counts in the U.S. are rising and most production cuts will be offset globally.    

 

The moves in the Treasury market are confounding some investors as the rally in stocks have had little negative effects on Prices. Bonds are posting small gains as stocks slip from record high levels this morning but the 10-Year Yield has remained in a tight range after the initial post-election rally. The 10-year Treasury yield slid to 2.40% ahead of the opening bell and we believe its forecasting a break in the equity rally. Overseas, stocks are mixed with the Hang Seng leading Asia higher. European markets are mostly lower after earlier gains fizzled, led by Italian stocks. The markets are overlooking better than expected German, Eurozone, and UK GDP data in favor of profits. Today's U.S. calendar includes the FOMC minutes from the January 31-February 1 meeting.  The economic slate also features January existing home sales, weekly chain store sales, and oil inventories. The MBA reported mortgage application fell 2.0% for the week and  the Treasury auctions $34 B in 5-year notes this afternoon.

 

Stock Stories:

Tesla (TSLA) – The Fight begins! – Although fundamentals do not support the recent run-up in the shares of the electric car-maker, some analysts continue to push up expectations for Tesla. Many cite the timing of revenue recognition for autopilot release and noted the quarterly results due after today’s close will include SolarCity for the first time. Also we will be looking for unit guidance, an update on Model 3 reservations, its Gigafactory ramp, as well as general capital needs for 2017. Expectations are high and the option market is pricing in a +/- move of 6%, which is above its 2-year average of 5%.    

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications – Down 2%

9:00 am CT – Existing Home Sales

12:00 pm CT – Fed’s Powell Speaks

12:00 pm CT – 5-Year Note auction results

1:00 pm CT – FOMC Minutes

                                                                                                                             

Notable Earnings:   

Wednesday – 2/22:   

Before Market:   CHS, DISH, GRMN, NI, SIX, SO, TJX, TOL

After Market:  SAM, CLR, CVG, FIT, HPQ, LB, SQ, SUN, TSLA, RIG

 

Thursday – 2/23:

Before Market:  APA, BCS, CHK, HRL, KSS, W

After Market:  BIDU, BRCD, DYN, GPS, HLF, HPE, INTU, JWN, SWN

 

*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

 

**Watch and listen to the TradeWise team every Thursday from 12:30-1:30 CT in the Swim LessonsSM chat room on the thinkorswim® by TD Ameritrade Trading Platform**

                                  

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.

Feb 21, 2017 - Market Blog

2/21/2017

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Equity markets look like they will hit more all-time highs to start the holiday-shortened week.  This morning, equity futures (/ES) are pointing to a modestly higher open ahead of plenty of economic data and Fed-speak this week. The Fed's Harker stated today that he is leaving a March hike on the table. The President of the Philadelphia Fed said in a interview that he "would not take March off the table at this point", adding that "analysts will have to see how it plays out in the next few weeks". Harker said he is looking for evidence of price pressures ahead of the policy meeting on March 14-15, with the personal consumption expenditure index the preferred measures. Harker, who is a current voter on the Federal Open Market Committee, said three 25 basis point increases this year are appropriate "depending on how things turn out", adding that the Fed needs to keep moving along a path of a gradual rate hike to minimize the risk of falling behind the curve on inflation.  We’ve been stating over the last year that the Fed was behind the curve on rate hikes and it looks to be coming to fruition.    

 

Bonds are weaker with Treasuries underperforming overseas sovereigns. The inverse Yields are up over 3 bps across the Treasury curve thanks to solid gains in equities and upcoming supply this week.  Greek yields are sharply lower, however, on the agreement with the Eurogroup. Better than expected European PMIs supported the rally in stocks overseas. The FTSE is underperforming, however, as Sterling firmed, especially versus EUR. And gains in France's CAC are limited by Frexit worries. There is plenty on the abbreviated U.S. calendar this week. Today's highlight is the $26 B 2-year sale, kicking off $88 B in coupon auctions. The economic slate has PMIs on manufacturing and services. There are a number of earnings reports today with Home Depot (HD) having already posted a strong beat. The minutes to the January 31-February 1 FOMC meeting are due Wednesday.

 

Stock Stories:

Home Depot  (HD) – Building – The home improvement retailer posted a blow-out quarter this morning as they beat both EPS and Revenue estimates. The  Company sees FY17 revenue up 4.6% and FY17 SSS up 4.6%. The Home Depot board also authorized a $15B share repurchase program, replacing its previous authorization. Investors are cheering the earnings as the shares are up about 2% ahead of the opening bell.    

 

Major Economic Reports:

7:50 am CT – Fed’s KashkariSpeaks

8:45 am CT – PMI Mfg. Index

11:00 am CT – Fed’s Harker Speaks

12:00 pm CT – 2-Year Note auction results

2:30 pm CT – Fed’s Williams Speaks

                                                                                                                             

Notable Earnings:   

Tuesday – 2/21:   

Before Market:   AAP, HD, LL, M, WMT    

After Market:  FSLR, LZB, NEM, PZZA, TEX, XPO

 

Wednesday – 2/22:

Before Market:  CHS, DISH, GRMN, NI, SIX, SO, TJX, TOL

After Market:  SAM, CLR, CVG, FIT, HPQ, LB, SQ, SUN, TSLA, RIG

 

*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

 

**Watch and listen to the TradeWise team every Thursday from 12:30-1:30 CT in the Swim LessonsSM chat room on the thinkorswim® by TD Ameritrade Trading Platform**

                                  

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.

Feb 20, 2017 - Weekend Market Update

TradeWise – Weekend Update

February 20, 2017

 

Last week revealed more fuel for equities as strong economic data helped markets hit more all-time highs. Reports were led by a 0.6% jump in consumer prices (CPI), the biggest one-month inflation push in nearly 4 years. Economic strength, once pinned down by lack of inflation, may now be shifting higher. This burst of inflation isn't coming from wages, of course, nor really from goods and services where most price trends remain stubbornly flat. It's related to OPEC whose pact late last year to cut output has driven oil 10% higher to $54 at last look. Retail sales are making a breakout of their own. January did its share, proving solid enough although the month is a slow one on the retail calendar. It's an upward revision to what was already a strong December that's the news, now at a 1% surge. Building talk of tax cuts are feeding the stock market where new records are the new norm. The Dow posted gains each day of the week to end at a record 20,624.  For the week, the S&P 500 Index (SPX) rose 1.5% while the Blue Chip-heavy Dow Jones Industrial Average ($DJI) jumped 1.7%.  The Nasdaq (QQQ) broke a 12-day win streak this past Thursday but still managed a gain of 1.9% for the week while the small caps (IWM) finished up 0.8%.

 

When money moves into the stock market it often comes at the expense of the bond market, but not this week. The day-to-day gains in the polls for Le Pen's National Front in France, now at 40%, are a reminder of the build-up to Brexit not to mention the November election and may be improving the attraction of U.S. Treasuries. With Treasury prices finishing flat for the week, the inverse 10-Year Yield rose only 1 basis point to finish at 2.42%. Oil (/CL) prices finished the week flat again and has continued to consolidate. Crude has traded in the $50-55 a barrel range since the start of December and it feels as though its coiling for an out-sized move.  Option Volatility remains low as uncertainty for stocks has taken a backseat to positive economic data and decent corporate earnings. The closely-watched CBOE Volatility Index (VIX) settled at 11.49 on Friday and continues to reflect little downside risk.

 

With markets closed today, the holiday-shortened week opens on Tuesday with the PMI manufacturing flash and whether this report will confirm the  strength being signaled by the Phily Fed index last Thursday.  The blowout number was the highest since 1984 as the manufacturing sector picks up. Existing home sales, which have been struggling, open Wednesday's calendar and a solid gain is expected. Later Wednesday the Fed will post the minutes of their last FOMC meeting with special attention to be focused on the internal balance-sheet debate. Thursday's Weekly Jobless claims will get close scrutiny as the reporting week is also the sample week of the monthly employment report. More housing data are in store with the FHFA prices on Thursday and new home sales on Friday both of which, like existing homes sales, are expected to point to strength. The week winds up with the final consumer sentiment score for February, one that dipped back slightly in early February. Earnings season is wrapping up with a few of the key retailers posting quarterly results this week.


Major Earnings for the Upcoming Week:

Monday:

A.M. –  Markets

P.M. Closed

 

Tuesday:

A.M.– AAP, HD, LL, M, WMT

P.M.FSLR, LZB, NEM, PZZA, TEX, XPO

 

Wednesday:

A.M. – CHS, DISH, GRMN, NI, SIX, SO, TJX, TOL

P.M. –SAM, CLR, CVG, FIT, HPQ, LB, SQ, SUN, TSLA, RIG

 

Thursday:

A.M. –APA, BCS, CHK, HRL, KSS, W

P.M. –BIDU, BRCD, DYN, GPS, HLF, HPE, INTU, JWN, SWN

 

Friday:

A.M.– BCC, FL, KBR, RBS

 

Economic Releases (2/20– 2/24):

Monday:

Markets Closed

                                                                                                                                                                          

Tuesday:

7:50 am CT – Fed’s KashkariSpeaks

8:45 am CT – PMI Mfg. Index

11:00 am CT – Fed’s Harker Speaks

12:00 pm CT – 2-Year Note auction results

2:30 pm CT – Fed’s Williams Speaks

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

9:00 am CT – Existing Home Sales

12:00 pm CT – Fed’s Powell Speaks

12:00 pm CT – 5-Year Note auction results

1:00 pm CT – FOMC Minutes

 

Thursday:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Chicago Fed National Activity Index

7:35 am CT – Fed’s Lockhart Speaks

8:00 am CT – FHFA House Price Index

8:45 am CT – PMI Services Flash

9:30 am CT – Natural Gas Inventories

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

10:00 am CT – Oil Inventories

12:00 pm CT – 7-Year Note auction results

 

Friday:

9:00 pm CT – New Home Sales

9:00 am CT – Consumer Sentiment

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

Showing Week of Feb 13, 2017

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Feb 17, 2017 - Market Blog

2/17/2017

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Stocks closed mostly lower on Thursday, taking a break after posting record closings for the last five trading sessions. We talk about complacency in equities as they rise but a consolidation or slight pull-back would create a more resilient bullish trend. Economic data continues to come in strong especially in the manufacturing sector as the Philly Fed index hit its highest level since 1984! Although the economic growth rate for the quarter should remain near 2%, data is pointing to a sustained and improving trends. This morning, equity futures (/ES) are pointing to a lower open ahead of the President’s Day holiday weekend. The Dow Industrials eked out another record close yesterday but the other major indices fell moderately.     

 

The ‘Risk-Off’ trade has taken over today and yesterday as stocks fall and Treasury prices have risen. This morning, bonds are gaining steam from overnight negativity as stocks head south. The 10-year Treasury yield has dipped to 2.40% and can’t seem to break resistance near the 2.5% level. Overseas markets are under pressure overnight as both Japan and China were lower. European are mixed but falling as U.S. stocks are falling in the premarket.  Economic data is light today with the focus on the leading economic indicators. Markets will also watch for comments from Trump after a mildly bizarre Press conference yesterday. Markets are closed for the holiday on Monday and trading and earnings ramp up on Tuesday.

 

Stock Stories:

Deere & Co.  (DE) – Bulldozing – The large equipment-maker posted better than expected earnings this morning as all of its businesses were profitable in 2016. The  Company equipment sales are projected to increase about 4% for fiscal 2017 and be up about 1% for the second quarter compared with the same periods of 2016. Investors are cheering the earnings as the shares are up about 3% ahead of the opening bell, which is below the expected move of 4% that the option market had priced in.    

 

Major Economic Reports:

9:00 pm CT – E-Commerce Retail Sales

9:00 am CT – Leading Economic Indicators

12:00 pm CT – Baker Hughes Rig Count

                                                                                                                             

Notable Earnings:   

Friday – 2/17:   

Before Market:   CPB, CTB, DE, FLR, SJM, MCO, VFC

After Market:  N/A

 

Tuesday – 2/21:

Before Market:  AAP, HD, LL, M, WMT

After Market:  FSLR, LZB, NEM, PZZA, TEX, XPO

 

*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

 

**Watch and listen to the TradeWise team every Thursday from 12:30-1:30 CT in the Swim LessonsSM chat room on the thinkorswim® by TD Ameritrade Trading Platform**

                                  

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.

Feb 16, 2017 - Market Blog

2/16/2017

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Don’t blink….but equity futures (/ES)  are trading slightly negative ahead of the opening bell, indicating that the market may finally see some consolidation or perhaps some downside?! All of the major indices hit another all-time high yesterday as Fed Chair Yellen wrapped up her annual testimony to Congress. Stocks are lower after seven straight days of gains and record highs.   We have now seen markets trade for 75 sessions in a row without a 1% down move. One item of note was Volatility in the option market. The closely-watched CBOE Volatility Index (VIX) rose 11% to nearly $12 but some of the gains were due to expiration and the rollover. Market technicians are also becoming weary of the recent rally as indicators are suggesting that we are at overbought levels not seen since March of 2012.     

The ‘Risk-On’ trade has been present this week as stocks rise and Treasury prices have fallen. This morning, bonds are a little firmer as stocks head south. The 10-year Treasury yield has dipped to 2.46% after testing over 2.50% yesterday. If rhetoric continues to signal a March rate hike, we should see rates rise and the inverse Treasuries. The Fed Funds market has now risen its hike expectation above 30% from just 13% at the start of the week. Stocks are lower after seven straight days of gains and record highs. There wasn't a lot of news overnight, but the U.S. calendar remains full and includes January housing starts, weekly jobless claims and the February Philly Fed index.

Stock Stories:

Lululemon  (LULU) – Inflection point – The athletic apparel-maker has seen its stock consolidate above $65 a share and out-perform the sector featuring Nike (NKE) and Under Armour (UAA). The shares is at support of its 50 and 200-Day moving Average as the former looks to cross the latter. With its founder now debuting another brand (QOR) and  inventories in the space growing, we could see the stock finally move ahead of earnings next month.    

Major Economic Reports:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Housing Starts

7:30 am CT – Philly Fed Business Outlook

9:30 am CT – Natural Gas Inventories

Notable Earnings:   

Thursday – 2/16:   

Before Market:   ALXN, AVP, CAB, CHTR, DF, DUK, H, MGM, PCG, RS, TIME, WM, WEN, ZTS

After Market:  ED, WWAV

Friday – 2/17:

Before Market:  CPB, CTB, DE, FLR, SJM, MCO, VFC

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

**Watch and listen to the TradeWise team every Thursday from 12:30-1:30 CT in the Swim LessonsSM chat room on the thinkorswim® by TD Ameritrade Trading Platform**

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.

Feb 15, 2017 - Market Blog

2/15/2017

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The benchmark S&P 500 Index (SPX) posted its 15th record close since the election following Fed Chair Yellen’s testimony to the senate.Fed Chair Janet Yellen said in prepared remarks that waiting too long to raise interest rates would be "unwise," given the continued rise in inflation and economic growth. The historically Dovish Fed chair was more Hawkish than usual, which many had expected as the economy improved. This morning, equity futures (/ES) are trading slightly negative, indicating that the market may finally see some consolidation or perhaps some downside. In addition to corporate earnings, investors will be watching economic data on consumer prices, manufacturing, retail sales, industrial production, housing and energy inventories.    

Bonds are slightly weaker and may extend their losses as a result of Yellen’s hawkish rhetoric. With Treasuries falling sharply, the 10-year Treasury yield rose to 2.47% and is up a couple more basis points this morning. Overseas, Europe is mostly higher along with Japan jumping over 1%. Toshiba shares were under pressure overseas as the company announced a write-down of $6.3B to reflect massive cost overruns and delays linked to nuclear projects in the U.S.  Earnings season is wrapping up and about 70% of S&P 500 companies have beaten EPS estimates this quarter so far. One note that will be watched is that Revenue is coming in just above a 50% beat rate so everything is not bullish on corporate results. Along with Fed Chair Yellen's testimony  to the House Finance Committee today, investors will closely watch the data that may reflect her hawkish tone.  

Stock Stories:

Pepsico  (PEP) – All-time highs – The beverage and snack food giant posted better than expected earnings this morning as EPS and Revenue both exceeded estimates. The company lowered its FY17 core guidance slightly but raised its Dividend by 7% annually.  Investors are still evaluating the report as the shares are flat to slightly higher ahead of the opening bell.    

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

7:30 am CT – Consumer Price Index (CPI)

7:30 am CT – Retail Sales

7:30 am CTEmpire State Mfg. Survey

8:15 am CT – Industrial Production

9:00 am CT – Atlanta Fed Business Inflation

9:00 am CT – Business Inventories

9:00 am CT – Housing Market Index

9:00 m CT – Fed’s Yellen Speaks

9:30 am CT – Oil Inventories

11:00 am CT – Fed’s Rosengren Speaks

11:45 am CT – Fed’s Harker Speaks

3:00 pm CT – Treasury Intl. Capital

Notable Earnings:   

Wednesday – 2/15:   

Before Market:   ADI, ETR, GRPN, HLT, PEP, SODA, TECK, WYN

After Market:  AMAT, CAR, CBS, CC, CSCO, GG, IFF, KHC, MRO, MAR, NTAP, SPWR, TRIP, WMB

Thursday – 2/16:

Before Market:  ALXN, AVP, CAB, CHTR, DF, DUK, H, MGM, PCG, RS, TIME, WM, WEN, ZTS

After Market:  ED, WWAV

*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

**Watch and listen to the TradeWise team every Thursday from 12:30-1:30 CT in the Swim LessonsSM chat room on the thinkorswim® by TD Ameritrade Trading Platform**

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.

Feb 14, 2017 - Market Blog

2/14/2017

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The benchmark S&P 500 Index (SPX) reached $20 Trillion in market cap on Monday as investors remained bullish on Trump’s agenda. Expectations of a ‘phenomenal’ Tax Plan have equity markets in overdrive despite the over-bought conditions in some sectors.  The Trump trade feels as though it should be over but the S&P 500 has not had a 1% down day in 70 sessions in a row. This morning, equity futures (/ES)are showing modest losses for the broader market, which has seen nothing but new records for the past few trading sessions. In addition to corporate earnings, investors will be watching economic reports on producer prices and will be listening to Fed Chair Janet Yellen's testimony before the Senate Banking Panel and speeches from three Fed Presidents.    

Bonds are mostly weaker and extending yesterday’s slide.  The 10-year Treasury yield is up to nearly 2.44% but remain in a tight range in 2017. Overseas, markets are flat to mixed in light trading. It seems as global markets are waiting for a catalyst to drive equities and in the meantime, they will continue to grind higher. The Humphrey-Hawkins testimony may provide some clues to future rate hikes this year and the economic expectations. In addition to Fed Chair Yellen, Fed speak resumes with Richmond Fed hawk Lacker who will be taking part in a panel discussion in Delaware on economic education and entrepreneurship from 7:50 CT. Dallas Fed's moderate Kaplan will take Q&A before a Houston Port Bureau luncheon at Noon and Atlanta Fed centrist Lockhart speaks on "Crisis, Recession and Recovery" before the Huntsville Rotary Club 0at 12:15 CT. Inflation data also picks up this week with today’s PPI number and the CPI later in the week.

Stock Stories:

Apple  (AAPL) – All-time highs – The iPhone-maker settled at an all-time high yesterday as optimism takes hold for more growth. The company has over $250B in cash (mostly overseas) so many analysts believe they may look into M&A this year.  The stock valuation is still low but was last quarter’s jump in iPhone sales due to the rotation from the Samsung product that had fire issues?

Major Economic Reports:

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

7:50 am CT – Fed’s Lacker Speaks

9:00 am CT – Fed’s Yellen Speaks

11:50 am CT – Fed’s Lockhart Speaks          

12:00 pm CT – Fed’s Kaplan Speaks

Notable Earnings:   

Tuesday – 2/14:   

Before Market:   CS, DISCA, DPS, TAP, TMUS

After Market:  A, AIG, CZR, DVN, ESRX, FOSL, INT

Wednesday – 2/15:

Before Market:  ADI, ETR, GRPN, HLT, PEP, SODA, TECK, WYN

After Market:   AMAT, CAR, CBS, CC, CSCO, GG, IFF, KHC, MRO, MAR, NTAP, SPWR, TRIP, WMB

*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

**Watch and listen to the TradeWise team every Thursday from 12:30-1:30 CT in the Swim LessonsSM chat room on the thinkorswim® by TD Ameritrade Trading Platform**

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.

Feb 13, 2017 - Market Blog

2/13/2017

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Wall Street is looking to continue its recent gains to start the week as no downside catalysts are present. This morning, equity futures (/ES)are trading moderately higher as earnings and political expectations is driving markets.  With nothing on the economic agenda today, investors will look ahead to comments from the U.S. Federal Reserve this week. Fed Chair Yellen goes in front of the Senate tomorrow and the House on Wednesday  for her annual testimony. We also have plenty of Fed-Speak from others which should continue to expand on a more Hawkish outlook for the economy and rates.    

Bonds are mostly weaker despite stocks extending their gains. The 10-year Treasury yield is up nearly 3 bps to nearly 2.44%. Overseas, the Bank of France Governor warned that concerns about a possible French exit from the Eurozone, as promoted by Le Pen, are moving markets and added he is against removing the independence of the Bank of France, something also promoted by Le Pen. Meanwhile, European stocks are all in the green, tacking on where they left off last Friday. Japan rallied, helped by the weaker JPY and no sign of friction between Trump and Abe, and following hopes the president will tone down his rhetoric on trade after his call to China's Xi. This will be a very busy week in the U.S., though not today with an empty calendar. Along with Fed Chair Yellen's Humphrey-Hawkins testimony (Tuesday, Wednesday), data over the week includes CPI, retail sales, industrial production and housing starts.

Stock Stories:

Boeing  (BA) – Grounded?! – The aircraft-maker’s shares have been on a tear recently and hit all-time highs at the end of January. The company received a key downgrade today, which has stock down ahead of the opening bell.  The analyst expects Boeing shares to underperform on downward estimate revisions, a series of negative catalysts, and multiple compression.

Major Economic Reports:

N/A

Notable Earnings:   

Monday – 2/13:   

Before Market:   TEVA

After Market:  N/A

Tuesday – 2/14:

Before Market:  CS, DISCA, DPS, TAP, TMUS

After Market:   A, AIG, CZR, DVN, ESRX, FOSL, INT

*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

**Watch and listen to the TradeWise team every Thursday from 12:30-1:30 CT in the Swim LessonsSM chat room on the thinkorswim® by TD Ameritrade Trading Platform**

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.