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Nov 17, 2017 - Market Blog

11/17/2017

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Stocks surged higher on Thursday on the back of tax reform, earnings and economic data. Bellwethers, Cisco (CSCO) and Wal-Mart (WMT), spiked higher led by the retailer, which jumped nearly 11% after a positive earnings report. The tech sector (QQQ) also rose by 1.3% and settled at an all-time high led by gains in Apple (AAPL), Amazon.com (AMZN) and Facebook (FB).  Also helping stocks was the House passing its Tax Bill on Thursday afternoon. Headwinds still remain with a few differences than the Senate bill and getting it passed will be . This morning, U.S. equity futures (/ES) are lower but the tech-heavy Nasdaq is in the black. Investors are gearing up for another round of earnings and economic data to set the tone along with more chatter on the Tax reform bill.

 

Bonds are moderately lower this morning but the inverse yields are continuing to struggle. The 10-year Yield settled at 2.36% yesterday and needs to rally above 2.4% to break its recent resistance level. Overseas markets are showing little direction into the weekend. Asia was mixed with China showing some weakness while the European markets are relatively flat. Oil prices (/CL) are surging this morning after a choppy week for the commodity. Crude is up nearly 2% in early trade and will attempt another run to 28-month highs above $57 a barrel if the rally holds. Domestically, economic data is heavy again today with reports due on Housing Starts, E-commerce retail sales along with the rig count.  

 

Stock Stories:

Wal-Mart (WMT) –Brick and Mortar rally! – The retailer posted a better than expected earnings report yesterday morning and the stock surged nearly 11% on Thursday. The companyis prioritizing eCommerce, technology, supply chain and store remodels over new stores and clubs and redefining their business amid the retail weakness. The company is stretched on valuation at current levels but growth and margin expansion is making a bull case for the shares.

 

Major Economic Reports:

7:30 am CT –Housing Starts

9:00 ma CT – E-Commerce Retail Sales

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

12:00 pm CT – Baker-Hughes Rig Count

  

Notable Earnings:   

Friday – 11/17:   

Before Market:   ANF, BKE, FL, HIBB

After Market:  N/A

   

Monday – 11/120:

Before Market:  N/A

After Market:  A, INTU, PANW, URBN

 

 *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.

Nov 16, 2017 - Market Blog

11/16/2017

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The Dow Industrials (DIA) fell sharply on Wednesday and hit its lowest level in three weeks. The benchmark S&P 500 (SPX) dumped just over half of a percent while energy prices continued to slide. Oil prices (/CL) fell again yesterday after the International Energy Agency cut its outlook for demand growth by 100K barrels per day in 2017 and 2018. Equities were also negatively affected by financials and consumer discretionary sectors. Retailers also continue to come under pressure after Target’s (TGT) guidance hammered their shares. This morning, U.S. equity futures (/ES) are up and rebounding from yesterday’s weakness. Investors are showing signs that the Bull Market is losing steam but today looks like another ‘Buy the Dip’ scenario that has become so common.

 

Bonds are moderately lower this morning and reversing from this week’s strength. The inverse 10-year Yield settled at 2.33% yesterday but is showing strength as equities rally. Overseas markets are also helping push U.S. stock markets into the black today. Japan’s Nikkei led the rally by finishing Thursday up by 1.47% but China continued to struggle by settling in the red minimally. European markets are also rising on earnings and key economic data. Economic data is heavy again today with reports due on Weekly Jobless Claims, Import and Export Prices along with Housing and Industrial numbers.  

 

Stock Stories:

Cisco (CSCO) – No long ‘Old-Tech’! – The tech giant posted an in-line report on EPS and Revenue after the close on Wednesday.  The company delivered a solid Q1 and executed well as they focus on strategic priorities and maintaining rigorous discipline on profitability and cash generation. They delivered strong growth in operating and free cash flow, focused investments on long term profitable growth, and returned $3.1 billion to shareholders through repurchases and quarterly dividends.  The shares are responding positively and are up 6% ahead of the open.

 

Major Economic Reports:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Philly Fed Manufacturing

7:30 am CT – Import and Export Prices

8:10 am CT – Fed’s Mester Speaks

8:15 am CT – Industrial Production

9:00 am CT – Housing Market Index

9:30 am CT – Natural Gas Inventories

12:10 pm CT – Fed’s Kaplan Speaks

2:45 pm CT – Fed’s Brainard Speaks

  

Notable Earnings:   

Thursday – 11/16:   

Before Market:   BBY, MANU, SJM, WMT

After Market:  AMAT, GPS, ROST, SCVL, SPWH, WSM

   

Friday – 11/17: 

Before Market:  ANF, BKE, FL, HIBB

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.

Nov 15, 2017 - Market Blog

11/15/2017

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U.S. stocks fell modestly on Tuesday as shares of General Electric (GE) put a cloud over the overall market. GE fell to its lowest level since 2011 on the back of a Dividend cut and a weak outlook on its recovery. Equities were also hit on disappointing data out of China which carried over to both Europe and our markets. This morning, U.S. equity futures (/ES) are down sharply and following overseas markets, which are deep in the red. Wall Street is gearing up for key earnings along with economic data that may sway stocks. Inflation data will be in focus with the release of the October Consumer Price Index (CPI), which is expected to remain low near a core reading of 1.7% for the year.  Oil prices (/CL) are negatively influencing equities after a fall of 3% in Tuesday’s session. Crude is down another 1% ahead of the opening bell and has broken its recent upward trend.

 

Bonds are sharply higher this morning and also putting pressure on the equity markets on a Risk-Off trade. The inverse 10-year Yield settled at 2.38% yesterday and is falling sharply again today. Lower energy prices are putting pressure on overseas markets. Japan’s Nikkei settled 1.57% lower and China dumped an additional 0.79%. European markets are weaker on lower oil prices with Germany’s DAX falling over 1% into the Wall Street open. Economic data is heavy today with reports due on inflation, manufacturing and Retail Sales. The retail number will be in focus with many of the brick and mortar companies suffering the Amazon and Wal-Mart effect.  

 

Stock Stories:

Target (TGT) – Earnings – The retailer posted better than expected earnings this morning with beats on EPS and Revenue. Despite upbeat comments from the CEO, the shares are down around 5% on weaker than expected guidance for the holiday shopping season. The company sees FY17 Same store sales flat to up slightly, which has investors concerned heading into the historically strong 4th quarter.  

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

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

7:30 am CT – Empire State Manufacturing Survey

7:30 am CT – Retail Sales

9:00 am CT – Business Inventories

9:30 am CT – Oil Inventories

3:00 pm CT – Treasury Intl. Capital

3:00 pm CT – Fed’s Rosengren Speaks

  

Notable Earnings:   

Wednesday – 11/15:   

Before Market:   PLCE, SBH, TGT

After Market:  CSCO, LB, NTAP, NTES, SMRT

   

Thursday – 11/16:

Before Market:  BBY, MANU, SJM, WMT

After Market:AMAT, GPS, ROST, SCVL, SPWH, WSM

 

 *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.

Nov 14, 2017 - Market Blog

11/14/2017

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U.S. equity futures (/ES) are down slightly ahead of the open this morning. Wall Street is gearing up for key earnings along with Fed speeches and information on Tax reform. Corporate news will be in focus after General Electric (GE) cut its Dividend by 50% and dropped the number of members on its Board.   The lowered numbers and validation of fundamental challenges discussed yesterday at General Electric's investor day reinforce the view of downside in the stock. Buffalo Wild Wings is up sharply after news surfaced that it may be acquired by a Private equity firm. The latest report suggesting that Roark Capital bid $150/share positions it as a prime candidate to "re-invigorate the experience, menu quality, and value", given their historical success and long-term ownership of brands, including Arby's, Carvel, and Carl's Jr.

 

Bonds are higher this morning and reversing the downward trend from last week. The inverse 10-year Yield settled at 2.4% yesterday but is slightly lower this morning. and may be bouncing off of recent lows. Oil prices (/CL) are down modestly today and continues to look for direction. Sub-forecast industrial production data out of China imparted a modest downward pulse on oil prices, with the data feeding a narrative about slowing Chinese demand, while this followed the U.S. government reporting, yesterday, that shale production would rise for a 12th consecutive month in December, by 80k barrels per day. The IEA also made a more cautious assessment of global demand prospects in its monthly reported, published today. Economic data is light today with reports due on inflation with the PPI along with Fedspeak.

 

Stock Stories:

Home Depot (HD) – Earnings – The home improvement retailer posted better than expected earnings this morning with a beat on EPS and Revenue. Home Depot estimates that hurricane-related sales positively impacted comparable store sales growth by approximately $282M in Q3. The stock is responding positively as its up about 1% ahead of the Wall Street open.

 

Major Economic Reports:

2:05 am CT – Fed’s Evans speaks

4:00 am CT – FOMC Chair Yellen speaks

5:00 am CT –NFIB Small Business Index

7:15 am CT – Fed’s Bullard Speaks

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

  

Notable Earnings:   

Tuesday – 11/14:   

Before Market:   DKS, HD, TJX

After Market:  BZH

   

Wednesday – 11/15:

Before Market:  PLCE, SBH, TGT

After Market: CSCO, LB, NTAP, NTES, SMRT

 

*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.

Nov 13, 2017 - Market Blog

11/13/2017

 

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Wall Street looks set to open on a more defensive footing this morning as President Trump continues his thirteen day tour around Asia. Details around a major trade breakthrough as well as a plan to deal with North Korea are expected to be announced mid-week once he returns back to the United States. European stocks are also seeing mounting pressure as Prime Minister Theresa May’s position is in jeopardy with a non-confidence vote showing major rifts within her political party around her handing of Brexit. The Japanese Nikkei fell in excess of 1% to start out the week which equates to the steepest intra-day drop since April and its 4th consecutive lower session as the red hot market cools slightly. Chinese shares were a bright spot in the region after an announcement late last week indicated bank stocks will face lighter foreign ownership rules going forward. 

 

Crude pricing (/CL) appears somewhat subdued near $57 a barrel as counteracting tensions in the Middle East are negated by recent oversupply domestically. Gold Futures (/GC) are also fighting to stay positive above $1277 an ounce despite a rallying dollar in an attempt to return to highs obtained back in early September before the Treasury rate’s tectonic shift higher. 

 

Economic news will be fairly light today with only a single Treasury budget reading expected. Analysts will be looking for the report to cite a deficit near $58.2 Billion over the month of October.  We will also experience a general pause in earnings with just a handful of recognizable names reporting over the course of the day after a barrage of over 80% of S&P 500 components having already reporting previously. There will be no Fed speak today but momentum will build throughout the week with multiple speaking engagements in focus. Any new revelations around the much anticipated tax legislation throughout the week will likely influence markets rapidly as a vote before the Thanksgiving break was initially expected. 

 

Stock Stories:

General Electric (GE) – Investor Day! – The iconic 125 year old conglomerate announced a 50% dividend cut for only the 2nd time in history over the weekend as a major restructuring is now underway.  Cost cutting is expected to surpass $3 Billion next year with 3 main business units to remain in focus.  Shares are down 50% since the turn of the year but seeing a welcome 1.5% bounce pre-market. 

 

Major Economic Reports:

1:00 pm CT – Federal Budget Balance  

 

Notable Earnings:   

 

Monday – 11/13:   

Before Market:   JD, TSN

After Market:  DAVE

 

Tuesday – 11/14:

Before Market:  DKS, HD, TJX

After Market: BZH

 

*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.

Showing Week of Nov 06, 2017

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Nov 12, 2017 - Weekend Market Update

TradeWise – Weekend Update

November 12, 2017

 

Both the Dow Jones and S&P 500 abruptly ended an impressive eight week winning streak as concerns over differing views around potential tax cut legislation quickly soured recent euphoria. The Broader S&P (SPX) surrendered 0.2% to end at 2,582 as financials and telecommunications led the retreat.  The single biggest obstacle was the real possibility of a delayed tax cut for businesses until 2019.  The small cap Russell 2000 (RUT) may be a proverbial canary in the coal mine with its fourth straight weekly drop since highs of $1514 were achieved in early October being the most sensitive to political uncertainty. Technology saw some rotation with the Nasdaq Composite (COMP) snapping its own six week streak but still managed to hold within a 50 point range of its all-time high of 6795 set earlier in the week.  Intel (INTC) took the single hardest hit with a 2.2% reversal after screaming to new highs earlier in the month. Volatility finally reared its head the last few sessions as the CBOE Volatility Index closed above the $11 threshold for only the first time over the month of November. 

 

The 10 year yield continues to hover near 2.4% despite a fairly wide miss on consumer data Friday which peaked the month prior at a thirteen year high. The two-year yield inversely is at its highest level since 2008 with lofty expectations around a rate hike next month.  CPI will be watched extremely carefully on Wednesday as one of the last inflationary data points for the Feds to assess before next month’s meeting. The measurement has remained stubbornly fixated near 2% for much of the year with any increase autographing a near certain greenlight for a hike. Alibaba (BABA) saw a record $25 billion in revenue generated for this year’s singles day primarily in Asia which topped last year’s pace by mid-day. There were 225 different countries that participated which equated to nearly a 40% increase from last year which is a good sign that global consumers are alive and well. 

 

The Federal Reserves will be out in full force this week with multiple speaking engagements scheduled on different continents including Janet Yellen on Tuesday. Unfolding Merger and Acquisition drama may help to steer markets over the near term with Qualcomm (QCOM) widely expected to reject Broadcom’s $100 Billion offer.  Uber appears to be inching closer to an eventual IPO with recently announced investment terms secured by Japan’s Softbank.  Hasbro has also reportedly offered to buy rival Mattel over the weekend as the toy industry remains under siege.  Although lighter than usual, focal economic news will include: Federal Budget Balance,  PPI, CPI, Building Permits, and Weekly Jobless claims scattered throughout the week.  Quarterly Earnings will also be revealed at a slower pace going forward but powerhouses: Home Depot (HD), Target (TGT), Cisco (CSCO), Best Buy (BBY), and Walmart (WMT) all showcase over the next five sessions as retail becomes more scrutinized heading into another ever important holiday cycle. Energy prices (/CL) have finally seemed to find some equilibrium near $57 a barrel after a surprise jump of 9 rigs were reported Friday. Crude will be watched closely to see how it responds to highs etched earlier in last week into the remainder of the year. 

 


Major Earnings for the Upcoming Week:

 

Monday:

A.M. –  TSN

P.M.– DAVE

 

Tuesday:

A.M.– DKS, HD, TJX

P.M.BZH

 

Wednesday:

A.M. – PLCE, SBH, TGT

P.M. –CSCO, LB, NTAP, NTES, SMRT

 

Thursday:

A.M. –BBY, MANU, SJM, WMT

P.M. –AMAT, GPS, ROST, SCVL, SPWH, WSM

 

Friday:

A.M.– ANF, BKE, FL, HIBB

P.M. – N/A

 

Economic Releases (11/13– 11/17):

 

Monday:

1:00 pm CT – Federal Budget Balance

 

Tuesday:

2:00 am CT – FOMC Member Evans speaks

4:00 am CT – FOMC Chair Yellen speaks

5:00 am CT –NFIB Small Business Index

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

 

Wednesday:

2:00 am CT – FOMC Member Evans speaks

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

7:30 am CT – Empire State Manufacturing

9:00 am CT – Business Inventories

9:30 am CT – Oil Inventories

3:00 pm CT – TIC Long Term Purchases

 

Thursday:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Philly Fed Manufacturing

8:15 am CT – Industrial Production

8:15 am CT – FOMC Member Brainard Speaks

9:30 am CT – Natural Gas Inventories

11:30 am CT – FOMC Member Kaplan Speaks

 

Friday:

7:30 am CT – Building Permits/Housing Starts

12:00 pm CT – Baker-Hughes Rig Count

 

*Follow us on Twitter @TradeWise

 

*BOLD above 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.

Nov 10, 2017 - Market Blog

11/10/2017

 

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The aging bull market suffered a minor setback yesterday as all major indexes slipped in response to perceived trouble in passing meaningful tax legislation this year which appears to be perpetuating again this morning.  The senate’s version of their bill released by the finance committee Thursday called for a delay in lowering the corporate tax bracket to 20% until at least 2019. Small Caps (RUT) were ultra-sensitive to the news giving up 0.4% for the day although well off earlier lows. Six of eleven S&P 500 sectors (SPX) also traded lower with Information technology taking the biggest hit to record its worst session in over two weeks. The Dow Jones ($DJI) meanwhile, snapped a 7 day winning streak after fading from fresh new highs set earlier this week to close at 23,461. Volatility has picked up notably as of late with the CBOE Volatility Index (VIX) experiencing its 2nd straight intra-day spike-although still managing to retreat back to $10.50 by session close. 

 

Oil Futures (/CL) are on track for nearly a 3% weekly gain with a 5 week winning streak securely intact. The recent trend has been the strongest in over a year as political tension in Saudi Arabia and increased demand continues to propel prices higher. Light Sweet Crude is now just a fraction off multi-year highs above $57 a barrel ahead of today’s weekly rig count. Gold prices (/GC) continue to sputter with little direction around $1284 an ounce even with the U.S. dollar (DXY) losing ground this week for the first time in a month. 

 

The final session of the week will be fairly light with consumer sentiment and the Treasury Budget as the only notable economic items on the calendar.  A number near 100.8 will be expected at 9:00CT to signal how willing consumers are to open their wallets just ahead of the most critical shopping season of the year. With quarterly earnings now over 75% completed, companies have seen an average earning increase of 23 % over the previous year. An impressive 80% have already beat expectations. The next few sessions will be rather quiet with some household names slated to reveal results later next week. 

 

Stock Stories:

Disney (DIS) –Showtime! – The entertainment Icon released quarterly results after the bell.  Revenue fell 3% for the quarter to $12.78 Billion.  A staggering $100 million loss was projected in the midst of Hurricane Irma as parks were shuttered.  The company spoke heavily around future content plans and competitive pricing of an upcoming streaming service comparable to Netflix (NFLX). Shares of DIS erased earlier after-hour losses to bounce slightly higher pre-market but well within the $3.3 window of the expected move.   

 

Major Economic Reports:

All Day- Banking Holiday

9:00 am CT – Consumer Sentiment

12:00 pm CT – Baker-Hughes Rig Count

1:00 pm CT – Treasury Budget

 

Notable Earnings:  

 

Friday – 11/10:

Before Market:  MT, JCP

After Market:  N/A

 

Monday – 11/13:

Before Market:  TSN

After Market: N/A

 

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.

Nov 09, 2017 - Market Blog

11/9/2017

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A four day losing streak in the banking sector could not put a dent in another round of all-time highs for the Dow Industrials (DIA), S&P 500 (SPX) and the Nasdaq (QQQ) on Wednesday. Despite a move higher in interest rates, asset-holding financials continued to slide on concerns that recent Republican electoral losses could sway the party’s push for Tax reform. This morning, U.S. equity futures (/ES) are down sharply ahead of the Wall Street open. Corporate earnings will be the focus today with results due from Kohl’s (KSS), Macy’s (M) along with Disney (DIS) and Nvidia (NVDA). Politics is also on investors’ minds with President Trump continuing his Asian trip in China.   

 

Bonds are lower again and extending yesterday’s weakness in the Treasury market. The inverse 10-year Yield settled at 2.32% and may be bouncing off of recent lows. Asian markets finished the session mixed while European equities are in the red. Brexit talks resume today and weak earnings are driving most of the Eurozone markets lower. In China, the President remained vigilant that Beijing should do more in the discussions with North Korea. Economic data picks up today domestically with reports due on Weekly Jobless Claims, Wholesale Trade and the wind up of supply with the 30-Year Bond auction results.

 

Stock Stories:

AT&T/Time Warner (T/TWX) – Rejected! – The U.S. Department of Justice is asking AT&T (T) for "structural remedies" in order to alleviate antitrust concerns over its proposed acquisition of Time Warner (TWX), citing a source. "Structural remedies" generally involve asset sales or creation of new competitors through intellectual property licensing. The proposal has the sale of CNN being a sticking point in the negotiations.

 

Major Economic Reports:

7:30 am CT – Weekly Jobless Claims

9:00 am CT – Wholesale Trade

9:30 am CT – Natural Gas Inventories

12:00 pm CT – 30-Year Bond Auction

  

Notable Earnings:   

Thursday – 11/9:   

Before Market:   AZN, CSIQ, COTY, DHI, DISH, JCI, M, ODP, PRGO, TIME, TRPAfter Market:  HTZ, NWSA, JWN, NVDA, DIS

   

Friday – 11/10:

Before Market:  MT, JCP

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.

Nov 08, 2017 - Market Blog

11/8/2017

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

The Dow Industrials (DIA) eked out another record close on Tuesday and the tech sector bounced off of midday lows to finish in positive territory. The S&P 500 (SPX) fell minimally but the small cap sector took a hit throughout the session. The Russell 2000 (RUT/IWM) dumped 1.2% as tax reform negativity hit the sector. The financials also created a headwind for the small caps as yields continued their recent slide. This morning, U.S. equity futures (/ES) are down slightly ahead of another round of earnings reports. Politics is also in focus today with President Trump continuing his Asian trip. He stated that the U.S.’s past restraint with North Korea was interpreted as weakness but warned that the new administration is not to be underestimated.   

 

Oil (/CL) is down this morning after its past few weeks of strength. Crude has a bid on recent turmoil in Saudi Arabia but upcoming inventories should begin to show weak demand.  Bonds are flat and may be showing signs that the recent rally may be over. The inverse 10-year Yield settled at 2.31% and has been trending lower over the last seven sessions. Overseas markets are mostly lower with China showing the only strength on Wednesday.  While earnings in Europe have followed the U.S. in beating expectations, a few reports this week have been tepid.  There is once again little on the domestic economic calendar today with only oil inventories and a 10-Year auction due.   

 

Stock Stories:

Qualcomm (QCOM) – Rejected! – Qualcomm (QCOM) is expected to reject the initial $130B takeover offer from Broadcom (AVGO) as it is not ready to engage with the company and believes the offer is opportunistic and "significantly undervalues" the business amid its licensing dispute with Apple (AAPL). The shares were upgraded today citing  sizeable accretion from the Broadcom (AVGO) proposal for all parties and attractive risk/reward among the possible scenarios for Qualcomm.

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

9:30 am CT – Oil Inventories

12:00 pm CT – 10-Year Note Auction

  

Notable Earnings:   

Wednesday – 11/8:   

Before Market:   HUM, MGM, REGN, ROK, VSI

After Market:  FOXA, ALB, MNST, OSTK, SQ

   

Thursday – 11/9:

Before Market:  AZN, CSIQ, COTY, DHI, DISH, JCI, M, ODP, PRGO, TIME, TRP

After Market: HTZ, NWSA, JWN, NVDA, DIS

 

*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.

Nov 07, 2017 - Market Blog

11/7/2017

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Stocks hit another round of all-time highs in what has become a ‘Groundhog Day’ scenario for markets. Deals are leading the headlines after Broadcom (AVGO) announced a bid for Qualcomm (QCOM) yesterday for $70 a share.  AMD rose on the news while Disney (DIS) and 21st Century Fox also jumped after news emerged of a potential deal surfaced. This morning, U.S. equity futures (/ES) are down slightly ahead of another round of earnings. Although most of the major companies have reported, there will be plenty of numbers from small to midsize firms in the next few days along with a few Blue Chips. Earnings beats are coming in at over a 75% clip so far so they continue to outperform estimates.  

 

Oil (/CL) is flat this morning after hitting 28-month highs to start the week. Crude has shot higher over the last two weeks and technically is in a Golden cross pattern after the 50-day moving average moved above its 200-day recently. Bonds are slightly lower and reversing gains over the last week. Today begins the first day of supply over the next three sessions with the 3-Year Note auction due. Overseas markets are mixed with European equities on either side of flat while China and Japan experienced a solid rally. President Trump continues his Asian tour while rising U.S. stocks and oil has put a bid into their markets. There is little on the domestic economic calendar today with only the JOLTS report due this morning.  

 

Stock Stories:

Salesforce.com (CRM) – Partners! – Salesforce (CRM) and Google (GOOG, GOOGL) announced a new strategic partnership to enable smarter, more collaborative experiences for customers. As part of the agreement, Salesforce has named Google Cloud as a preferred public cloud provider to support the company's rapidly growing global customer base. Salesforce plans to use Google Cloud Platform for its core services as part of the company's international infrastructure expansion.

 

Major Economic Reports:

9:00 am CT – JOLTS

12:00 pm CT – 3-Year Note Auction

  

Notable Earnings:   

Tuesday – 11/7:   

Before Market:   CBOE, CROX, DF, EMR, RCL, VRX

After Market:  AGU, CLR, DVA, FOSL, MAR, SNAP, SUN, TTWO, VVUS, ZG

 

Wednesday – 11/8:

Before Market:  HUM, MGM, REGN, ROK, VSI

After Market: FOXA, ALB, MNST, OSTK, SQ

 

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Nov 06, 2017 - Market Blog

11/6/2017

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Earnings season continues in earnest with another 40 of the S&P 500 companies due to report this week. Quarterly reports have reflected the record corporate profits and supporting the lofty levels in the equity market. This morning, U.S. equity futures (/ES) are flat to down slightly ahead of another round of earnings. Economic reports are light this week so focus will remain on earnings moving forward. President Trump is on his Asian trip and is expected to reconfirm the U.S. commitment to our longstanding alliances and partnerships in the region. He stood with Japan when dealing with North Korea and reiterated that trade issues should be fixed.  

 

Treasuries are sharply higher this morning in a continuation of last week’s gains. The benchmark 10-year Yield fell is down to 2.33% and is falling despite the rally in stocks. Overseas markets are mixed with European equites in the red while China jumped over 0.5%. Oil (/CL) is continuing to show its recent strength as it is up modestly ahead of the Wall Street open. The energy sector is underperforming the overall market despite the fact that crude is at over two-year highs. There is little on the domestic economic calendar today with only the TD Ameritrade IMX due along with Fedspeak from Dudley.  

 

Stock Stories:

Qualcomm (QCOM) – Battle Begins! – The chipmaker’s shares jumped over 12% on Friday after reports surfaced that Broadcom (AVGO) plans to offer $70 a share for the company.  QCOM said the bid was unsolicited and does not come close to their valuation despite the shares falling this year.  We will most likely see added volatility in the stocks as the takeover bid will be in focus this week.

 

Major Economic Reports:

11:10 am CT – Fed’s Dudley Speaks

11:30 am CT – TD Ameritrade IMX

  

Notable Earnings:   

Monday – 11/6:   

Before Market:   BAH, CAH, CVS, KORS, MYL, SYY

After Market:  AMC, CAR, GDDY, IFF, MTW, PCLN, SWKS, TRIP, WTW

 

Tuesday – 11/7:

Before Market:  CBOE, CROX, DF, EMR, RCL, VRX

After Market: AGU, CLR, DVA, FOSL, MAR, SNAP, SUN, TTWO, VVUS, ZG

 

*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.