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Mar 22, 2017 - Market Blog

3/22/2017

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U.S. equity futures (/ES) are lower in early trading as the market tries to regroup after yesterday's broad-based selloff. Tuesday's losses were the market's biggest of the year with the Dow Industrials losing the most since October and the Nasdaq and S&P losing the most since September. Uncertainty over policy and geopolitical concerns weighed on markets. Oil prices (/CL) are down another 1.5% after last night's API inventory report. Investors will now look to today's Department of Energy report to confirm, or possibly call into question, the API data.

 

Bonds are modestly higher on more risk aversion amid a steep selloff in equities after the plunge on Wall Street yesterday. Bond gains in Asia and Europe are following our lead and reflecting the ‘Risk-off’ trade. The 10-year note Yield is trading at 2.40% and is back below its 200-day moving average. The 1.24% drop in the S&P 500 yesterday, on worries President Trump won't be able to enact his agenda, unnerved investors globally. Commodities, including Crude, are also weaker and are weighing on stock markets. Economic data is relatively light today with February existing home sales, the January FHFA home price index and weekly oil inventories due. The MBA reported mortgage applications declined 2.7% in the March 17 week and Fedspeak takes an overdue breather ahead of a speech from Yellen tomorrow.

 

Stock Stories:

Nike (NKE) – New Kicks Needed – The athletic apparel-maker posted mixed quarterly results after the close yesterday.  Revenue was light but EPS was a sound beat as the company saw domestic growth offset global sales, which were down 1%. Investors are not constructive on the stock as the shares are down over 4% ahead of the opening bell, which was a bit more than the option market was expecting.

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

9:00 am CT – House Price Index

9:00 am CT – Existing Home Sales

9:30 am CT – Oil Inventories

                                                                                                                             

Notable Earnings:   

Wednesday – 3/22:   

Before Market:   WGO

After Market:  CTAS, PVH

 

Thursday – 3/23:

Before Market:  CAN, CAG

After Market:  GME, KBH, MU

 

*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.

Mar 21, 2017 - Market Blog

3/21/2017

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Yesterday saw markets flounder a bit with little conviction as a pause in tangible news fostered very little activity. The Dow Jones Industrials ($DJI) backed off a meager 8 points to end at 20,905 with utilities and energy weighing.  In conjunction, the S&P suffered a similar fate with nearly a 5 point decline ending at 2,373 for the first session of the week.  In contrast, the Nasdaq Composite (COMP) somehow quietly pressed a new all-time high at 5,902 thanks in big part to Apple’s (AAPL) 1% pop off positive analyst praise. There has been some disconnect forming in the major indexes as of late which may signal some type of  breakout away from the current range-bound conditions just below all-time highs. Notably, the Russell 2000 Index (RUT) accelerated to the downside yesterday with an 0.53% decline. Volatility remains unimpeded at this point with the CBOE Volatility Index (VIX) fixated just above $11. 

 

Rumors of an extension to OPEC’S current production targets past June helped to temporarily steady oil prices (/CL) above $49 ahead of tonight’s API inventory report.  There are still many skeptics to the likelihood of a deal as other countries would also need to participate including Russia to gain any further traction.  A decline in gold futures (/GC) is forming for the first time in 4 sessions near $1232.5 an ounce after England was caught off guard with a 2.3% inflationary number exceeding targets with many now calling for a rate hike. The U.S. 10 year yield backed off 4 basis points yesterday to slip below 2.5% with preliminary Fed speak sounding more dovish on the prospects of multiple rate hikes for the remainder of 2017. 

 

Equities are showing some resolve higher this morning as economic data will remain extremely sparse until things heat up tomorrow. There will be a regimented line up of Federal Reserve members speaking throughout the course of the day hopefully adding more clarity to their overall motive with their balance sheet beginning to garner more attention. Earnings will see a welcome uptick as an array of different sectors reporting both before and after market hours with FedEx (FDX) and Nike (NKE) being the most prominent. 

 

Stock Stories:

Nike (NKE) –On Deck! – The athletic company is slated to report earnings after the close today.  Option activity has surged recently which saw 4X the normal volume yesterday in anticipation with underlying up nearly $1 during the same period. The sector has went through a major transformation recently with many retail outlets struggling along with Under Armour (UAA) and Adidas fighting fiercely for more market share. Analysts are predicting their first earnings decline in over 4 years. 

 

Major Economic Reports:

7:30 am CT – Current Account Deficit

11:00 am CT – Fed’s George Speaks

5:00 pm CT – Fed’s Mester Speaks

8:45 pm CT – Fed’s Rosengren Speaks

                                                                                                              

Notable Earnings:   

 

Tuesday – 3/21:   

Before Market:   GIS, LEN

After Market:  FDX, NKE, SCS

 

Wednesday – 3/22:

Before Market:  WGO

After Market:  CTAS, PVH

 

*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.

Mar 20, 2017 - Market Blog

3/20/2017

 

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Global markets appear sluggish to kick off another trading week with some residual pessimism surrounding G-20 meetings expanding over the weekend.  A joint communication from key finance ministers and central bank governors failed to materialize with concerns mounting over the United States’ new protectionist agenda around trade.  Both European and Asian indexes suffered small setbacks off the development.  British Prime Minister, Theresa May has formally notified the European Union of the country’s intention to finally begin the process of leaving the EU as of March 29th which may create some waves as unilateral trading terms will need to be hashed out. The U.S. Dollar is staging for a 4th consecutive weaker session as the Fed’s longer term landscape didn’t appear to be as aggressive as some experts initially projected with their aggressive tone being short-lived. Border tax along with any renegotiating around trade deals will likely apply more pressure to the greenback off any further developments. 

 

Oil prices continue to disappoint with the weekly rig count coming in stronger than expected to lock in a 9th straight build-up.  Crude Futures (/CL) are trading down slightly near $48.75 as the OPEC cuts appear to be doing very little to bolster confidence up to this point. Gold Futures (/GC) posted its best gain since early February thanks to the weaker dollar now back above $1230.  Any significant stimulus progress promised by President Trump around infrastructure spending would have a detrimental effect on the precious metal. 

 

The Chicago Fed National Activity is the sole piece of economic news today with no notable earning reports coming until tomorrow-creating a small void as the CBOE Volatility Index (VIX) remains stuck at $11.58.  Fed speak will ramp up over much of the week as the quiet period around the Fed meeting has finally been lifted and members are eager to share their various perspectives. 

 

Stock Stories:

Disney (DIS) – Be our Guest!-The iconic entertainment giant destroyed previous box office records for March by bringing in $170 million in its weekend debut of Beauty and the Beast.  Experts are predicting that total sales will top $1 billion before reaching dvd audiences even despite the inclusion of some controversial content. The company has continued to see ecstatic results around the re-creation of classic stories in a live-action format. Shares are up modestly pre-market.

 

Major Economic Reports:

7:30 am CT – Fed’s Evans Speaks

7:30 am CT – Chicago Fed National Activity Index

12:10 pm CT – Fed’s Evans Speaks

6:30 pm CT – President Trump Speaks

 

Notable Earnings:

Monday -3/20:

Before Market: N/A

After Market: N/A

 

Tuesday -3/21:

Before Market: GIS, LEN

After Market: FDX, NKE, 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.com or 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.

Showing Week of Mar 13, 2017

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Mar 18, 2017 - Weekend Market Update

TradeWise – Weekend Update

March 18, 2017

 

U.S. stocks closed mixed on Friday as financials and healthcare led losses. Quadruple witching expiration caused a choppy market as investors rotated into different sectors. Economic data continues to reflect a resilient market despite little help from the proposed Trump administration changes. Consumer sentiment, the jobs market and manufacturing continue to shine but markets are now expecting some clarity on deregulation and tax reform. The Fed did as expected and raised interest rates a 0.25 point but the level of hawkishness took a break. Yellen was noticeably Dovish in her comments, which was a 180 degree turn from her recent hawkish bias. One notable data point that continues to lag is the Labor Market Conditions Index (LMCI). The index that tracks the breadth of the labor market is barely over zero and a key component that the Fed watches. Friday’s CPI also showed weaker than expected inflation growth, which is also a key measure for the Fed. For the week, the S&P 500 Index (SPX) rose 0.2% while the Blue Chip-heavy Dow Jones Industrial Average ($DJI) was a minimal 0.1% higher.  The Nasdaq (QQQ) managed a gain of 0.2% while the small caps (IWM) led the major indices by jumping 1.8% for the week.  

 

While the FOMC raised its policy rate for the third time this cycle in a move that was fully telegraphed, Treasury yields actually fell this past week. The benchmark 10-Year Yield finished 8 basis points lower to settle at 2.50% as Bond prices rose. Future hikes will be based on data again as Yellen fell back to her Dovish tone.  Oil (/CL) prices finished the week up 1.7% and stopped its recent slide. Inventories are still near record highs but showed a modest decline this week as production cuts from OPEC are having little positive results for crude. Option Volatility remains low and fell again this past week as traders push aside any downside risk as complacency has taken hold. The closely-watched CBOE Volatility Index (VIX) settled at 11.28 on Friday and reflects the flattish equity market.  

 

Economic data slows this upcoming week but will be highlighted by key updates for housing and manufacturing. FHFA house prices, which have been robust, open Wednesday's calendar which also includes existing home sales which had been firm though a step back is the call for February's report. New home sales had been firm before a January setback that is expected to be reversed in Thursday's report. Jobless claims will also be posted Thursday with data on initial claims to cover the sample week of the employment report and offer early clues whether the labor market in March can match the strength of February and January. The week's highlight will be Friday's durable goods report, offering the latest on a factory sector where the outlook is on the rise following February's strength in industrial production.


Major Earnings for the Upcoming Week:

Monday:

A.M. –  N/A

P.M.– N/A

 

Tuesday:

A.M.GIS, LEN

P.M.– FDX, NKE, SCS

 

Wednesday:

A.M. – WGO

P.M. –CTAS, PVH

 

Thursday:

A.M. –CAN, CAG

P.M. –GME, KBH, MU

 

Friday:

A.M.– FINL

 

Economic Releases (3/20 – 3/24):

Monday:

7:30 am CT – Fed’s Evans Speaks

7:30 am CT – Chicago Fed National Activity Index

12:10 pm CT – Fed’s Evans Speaks

                                                                                                                                                                          

Tuesday:

11:00 am CT – Fed’s George Speaks

5:00 pm CT – Fed’s Mester Speaks

8:45 pm CT – Fed’s Rosengren Speaks

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

9:00 am CT – House Price Index

9:00 am CT – Existing Home Sales

9:30 am CT – Oil Inventories

 

Thursday:

7:00 am CT – Fed’s Yellen Speaks

7:30 am CT – Weekly Jobless Claims

9:00 am CT – New Home Sales

9:30 am CT – Natural Gas Inventories

11:00 am CT – Fed’s Kashkari Speaks

 

Friday:

7:00 am CT – Fed’s Evans Speaks

7:05 am CT – Fed’s Bullard Speaks

7:30 pm CT – Durable Goods Orders

7:30 am CT – Fed’s Williams Speaks

8:45 am CT –PMI Composite

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.

Mar 17, 2017 - Market Blog

3/17/2017

 

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Equity markets faded into the afternoon yesterday as some market euphoria wore off from the previous session following the Fed action.  The Dow Jones ($DJI) was off 15 points or only .1% to end at 20934. The S&P 500 (SPX) slipped a modest 4 points or .2% during the same period.  All-time highs were quietly reached in the Nasdaq Composite (COMP) intra-day before coming under pressure although the index managed to close just above even and stay above $5900 in the process. A Republican sponsored healthcare bill passed through congress yesterday by a thin margin which had an adverse effect on healthcare stocks to the determinant of the overall market.

 

Government Bonds saw the single largest intra-day falloff in nearly a year with the 10 year yield getting back to 2.52% as the Fed hurdle in now cleared.   The U.S. dollar fell for the 2nd straight session Thursday as the rate hike scenario becomes more clear through the remainder of 2017. Asia saw some active trading with the combination of a key short-term interest rate hike in Shanghai along with the Bank of Japan voting to keep their highly accommodative monetary policy in motion. Both markets fell in their last session albeit stronger for the week overall. European markets are sputtering with neutral conditions as most major indexes barely hang on to minimal gains. Drama surrounding the Dutch election appears to be settling down also with the ultra-right-winged candidate Geert Wilders likely defeated.

 

Stocks are postured to take pause again this morning with futures trading just under par value off little material news. Consumer Sentiment will be looking for a reading above 97 at 9:00CT this morning to validate recent spending trends.  The G20 summit also kicks off today with key finance ministers and political leaders in attendance which may also open the door to some volatility off any contradictory remarks. The volatile oil (/CL) story continues to play out in crude which is still trading under the $50 level ahead of another weekly rig count mid-day. 

 

Stock Stories:

Adobe (ADBE) –Suite Quarter! – Shares of the software suite designer are on the move this morning after generating $1.68 billion over the 1st quarter. All-time highs were reached yesterday in the shares price before a strong earnings result came after the close on improving conditions. Multiple analyst upgrades have the shares trading over 5% higher pre-market. 

 

Tiffany and Co (TIF) –Dazzling! – The iconic jeweler beat on both top and bottom line estimates after guiding conservatively lower earlier over the last holiday season.  Same store sales came in flat, but saw strength in Asia as a possible turnaround. Shares are up in excess of 3% pre-market. 

 

Major Economic Reports:

All Day-  G20 Meetings

8:15 am CT – Capacity Utilization Rate

8:15 am CT – Industrial Production

9:00 am CT – CB Leading Indicators

9:00 am CT – Preliminary University of Michigan Consumer Sentiment

12:00 pm CT – Baker Hughes Rig Count

                                                                                                                             

Notable Earnings:   

Friday – 3/17:    

Before Market:   TIF

After Market:  N/A

 

Monday – 3/20:

Before Market:  MOV

After Market:

 

*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

 

**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.

Mar 16, 2017 - Market Blog

3/16/2017

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

 

Stocks traded sharply higher on Wednesday after the Fed raised interest rates by a 0.25 point.  The Central Bank raised as expected but the tone of Fed Chair Yellen during the Press Conference was much more Dovish than her recent Hawkish comments. This had a positive effect on equities but also caused demand for Treasuries, despite the interest rate hike. Oil prices (/CL) also helped stocks by jumping over 2% on bottom fishing and a falling Dollar ($DXY).   This morning, U.S. equity futures (/ES) are pointing to a higher open, suggesting the market is set to continue yesterday's rally. The dovish comments from Fed Chair Janet Yellen following yesterday's rate hike set off a rally in equities that spilled overseas.

 

Oil prices (/CL) are up ahead of the opening bell and extending yesterday’s solid gains. A lower dollar and a bounce on lower inventories had the crude bulls in motion. Despite the rate hike yesterday, Treasury prices jumped on the FOMC news. The 10-year yield fell to 2.51% but is up on falling Bond prices this morning. Overseas markets rose overnight on the back of domestic gains. While Japan was relatively flat, the BoJ’s Kuroda said the bank will continue "powerful monetary easing" under yield curve control framework "to achieve the price target at the earliest date possible." He noted that inflation has been moving sideways while saying that "momentum for inflation to accelerate to 2 percent remains in place but lacks strength." Data in the U.S. is modest today led by Weekly Jobless Claims and Housing starts.

 

Stock Stories:

Starbucks (SBUX) – Caffeine needed – The coffee giant has seen its shares slide over 4% in the last week. After recently commenting on the refugee commitment, many believe consumer backlash is part of the reason for lower guidance, which has been refuted by the company. The stock is flat ahead of the opening bell and is approaching oversold levels according to technicians.

 

Major Economic Reports:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Philly Fed 

7:30 am CT – Housing Starts

9:00 am CT – JOLTS Job Openings

9:30 am CT – Natural Gas Inventories

                                                                                                                             

Notable Earnings:   

Thursday – 3/16:   

Before Market:   DG, JASO

After Market:  ADBE, NWY

 

Friday – 3/17:

Before Market:  TIF

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.

Mar 15, 2017 - Market Blog

3/15/2017

 

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

 

Markets came under some selling pressure yesterday with the Dow Jones ($DJI) eventually giving up 44 points to end at 20,837 with weaker oil prices generating some concern on the magnitude of the economic recovery.  The Nasdaq Composite (COMP) shed 19 points to end at 5856 during the same period with little conviction in either direction. With only a fraction of data disseminated over the course of the day, the broader S&P 500 Index (SPX) slipped 8 points to end Tuesday at the $2365 mark. Producer Price Index (PPI) monthly numbers came in at .3% for the 4th consecutive positive showing which helped to validate the Feds objective of almost reaching their inflationary targets. Volatility peaked slightly intra-day with the CBOE Volatility Index (VIX) jumping a full point to close at $12.30. 

 

Equites are trading higher pre-market ahead of the much anticipated Federal Reserve announcement expected at 1:00 CT.  An important Consumer Price Index and Retail Sales reading due ahead of the bell will likely set the tone for only the 3rd rate hike over the last decade as the FOMC tries to finally wean markets off accommodative measures that have extended since the housing crisis. The yield curve has continued to flatten out ahead of the event with the 10 year dropping to 2.609% after peaking from 2.5 year-highs earlier.  Today’s press conference will be critical in determining the Fed’s anticipated flight path for the remainder of the year. 

 

Stakes are high in the Netherlands today with a key vote being watched throughout Europe to determine the eventual fate of the European Union. Widely expected as the pre-cursor to the French elections early next month, any further test has the propensity to worry investors. Earnings season is all but over, but we will still see a few names like Oracle (ORCL) reporting after the close. 

 

Stock Stories:

NVIDIA (NVDA) –Getting Smarter– The chip maker just announced plans to team up with Bosch to accelerate efforts in the driverless car space. This sector has continued to heat up with the recent announcement of Intel (INTC) entering the market after the acquisition of Mobileye (MBLY) earlier this week.  Shares of NVDA are up slightly pre-market after plummeting 20% since last month. 

 

Major Economic Reports:

7:30 am CT –  Consumer Pricing Index

7:30 am CT –  Retail Sales

7:30 am CT – Empire State Manufacturing

9:00 am CT – Business Inventories

9:00 am CT – NAHB Housing Market Index

9:30 am CT – Oil Inventories

1:00 pm CT – Federal Funds Rate/ FOMC Statement

1:30 pm CT – FOMC Chair Yellen Press Conference

3:00 pm CT – TIC Long Term Purchases

                                                                                                                             

Notable Earnings:   

Wednesday – 3/15:   

Before Market:   CBK

After Market:  GES, JBL, ORCL, WSM

 

Thursday – 3/16:

Before Market:  DG, JASO

After Market:  ADBE, NWY

 

*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.

Mar 14, 2017 - Market Blog

3/14/2017

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

 

Stocks traded in a tight range to kick off the week yesterday as investors kept their hands in their pockets. Volumes were dismally low with little on the economic front and earnings season basically over. The benchmark S&P 500 Index (SPY) managed its third straight day in positive territory, albeit only minimally. This morning, U.S. equity futures (/ES) are modestly lower as the market's listless trading appears ready to continue. Trading is expected to be slow as the Northeast undergoes a major snowstorm and investors sit on the sidelines awaiting the outcome of the Fed's FOMC meeting. It is all but given an interest rate hike will be imposed but traders will be looking for signals in the Fed's commentary about any future hikes this year.

 

Oil prices were attempting to break its recent falling trend this morning but have given up overnight gains. Crude fell 8.5% over the last week as inventories rose and production remained robust despite the cut by OPEC. Treasuries are modestly lower and following losses in equities. The 10-year yield is approaching nearly 2-year highs and is currently at 2.62%. Overseas markets are mixed and looking for direction also. China’s economic data for January and February are showing a rosier picture as industrial output grew by 6.3% in the first two months of the year. In Europe, this week's Dutch elections are creating some risk for markets and a potential start to the Brexit process by Article 50 in the U.K. are also weighing on investor sentiment. With little on the economic data front domestically, the FOMC remains the highlight this week. The FOMC meeting is on despite the East Coast storm and the Fed Funds market has priced in a probability of 93% for the quarter-point hike.

 

Stock Stories:

Starbucks (SBUX) – Caffeine needed – The coffee giant has seen its shares slide over 4% in the last week. After recently commenting on the refugee commitment, many believe consumer backlash is part of the reason for lower guidance, which has been refuted by the company. The stock is flat ahead of the opening bell and is approaching oversold levels according to technicians.

 

Major Economic Reports:

FOMC Meeting Begins

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

                                                                                                                             

Notable Earnings:   

Tuesday – 3/14:   

Before Market:   DSW, VLKAY

After Market:  ARNA, FTD, FOGO

 

Wednesday – 3/15:

Before Market:  N/A

After Market:  GES, JBL, ORCL, 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

 

**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.

Mar 13, 2017 - Market Blog

3/13/2017 *Wait & See for Markets! Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days - email support@tradewise.com or call 877.733.6786*

 

U.S. equity futures (/ES) are slightly lower to flat to start the week ahead of a probable rate hike by the FOMC this Wednesday. Stocks ended last week down slightly as energy markets and commercial real estate saw some profit taking. Oil futures (/CL) are down moderately this morning after falling 9% last week as inventory levels reached record levels. The OPEC production cut has resulted in little price appreciation for crude as domestic firms picked up all the slack. Oil is back below $49 a barrel as bullish speculators have been dumping their bets over the last week.

 

Treasuries are modestly higher following on the coattails of gains in European and most Asian Bonds . With so much risk this week, including the FOMC and several other central bank meetings, the likely triggering of U.K. Article 50 (Scotland announced it will take steps toward a new referendum), the Dutch elections and some flight to safety is not a surprise. Meanwhile, the U.S. 10-year Treasury is lower at 2.56% from 2.58% overnight. Equities are mixed overseas and trading either side of unchanged in wait and see mode. With little on the economic data front, the FOMC is a highlight this week. With a rate hike fully priced in, the markets will be looking for indications on the trajectory over the rest of the year and into 2018. Despite the light news today, there is a lot of data over the rest of the week including CPI, retail sales, production, manufacturing, and housing.

 

Stock Stories:

Boeing (BA) - Clipped Wings -The aircraft-maker received a critical downgrade today and is finally starting to reflect some overdue downside to the shares. After hitting all-time highs to start the month, the shares are off almost $10 as valuation expectations are coming down. The stock was up 40% since mid-2016 and is down 1% in the premarket on the downgrade.

 

Major Economic Reports:

9:00 am CT -Labor Market Conditions Index

 

Notable Earnings:

Monday -3/13:

Before Market: TACO

After Market: TLYS

 

Tuesday -3/14:

Before Market: DSW

After Market: ARNA, FTD, FOGO, TWNK

 

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**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

 

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