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Jan 19, 2018 - Market Blog

1/19/2018

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Concerns over a Government shutdown were looming and stocks took a modest break from their rally on Thursday. Congress has until midnight to pass a spending bill before they shut down which caused markets to finish modestly in the red yesterday. Historically, equities have experienced a short-term pull back when a shutdown happens but longer term it has previously not negatively affected stocks. Although valuations and sentiment for markets are stretched, the Bulls blamed the uncertainty in equities to the shutdown and not an overdue slide. This morning, equity futures (/ES) are higher ahead of the Wall Street open as investors gained some confidence after the House passed a spending bill last evening. The Senate still needs to pass the bill for it to go to the President’s desk to sign and with sixty votes needed, it may be a difficult task.  

 

Treasuries are continuing their downward trend this morning and the inverse yields are rising The 10-Year yield broke through 2.6% yesterday, which we haven’t seen since early May of 2017. Rising rates may spell trouble for the equity market in the near-term.   Oil (/CL) is falling for a second day in a row, earlier logging a 10-day low at $62.78 before recouping toward $63.50. Despite the bounce, prices remain below yesterday's closing level at $63.66. Ongoing dollar weakness helped given crude and other commodity prices an underpinning. Overseas markets are also higher with European stocks at 10-year highs. Economic data domestically is light today with reports due on Consumer Sentiment and rig counts.   

 

Stock Stories:

Intl. Business Machines (IBM) – The tech bellwether posted better than expected earnings after the close yesterday as EPS and top-line revenue beat expectations. IBM said that the enactment of the Tax Cuts and Jobs Act in December 2017 resulted in a one-time charge of $5.5B in the fourth quarter. The stock was up over 10% into the report this year but is falling almost 3% ahead of the open.

 

Major Economic Reports:

9:00 am CT – Consumer Sentiment

12:00 pm CT – Baker-Hughes Rig Count

  

Notable Earnings:   

Friday – 1/19:   

Before Market:   KSU, RF, SLB, SYF

After Market:  N/A

   

Monday – 1/22: 

Before Market:  HAL

After Market:  LOGI, NFLX, STLD, AMTD, ZION

 

 *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.

Jan 18, 2018 - Market Blog

1/18/2018

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The Dow Industrials (DIA) spiked 1.27% on Wednesday as positive earnings and Tax reform news out of Apple (AAPL) gave a boost to stocks. Tuesday’s modest slide was quickly scooped by investors as the 2018 positive momentum story continues at a staggering pace. All the major indices closed at record highs but technical levels to the upside are starting to get stretched. Of the small amount of S&P 500 companies that have reported quarterly results, 78% have beaten EPS estimates. Top-line revenues are beating expectations at a massive 89% rate so far but that number should fall as we get into the thick of earnings season. This morning, equity futures (/ES) are mixed ahead of the Wall Street open as investors may be ready for a break from this year’s rally. Earnings will again be the focus today with reports due from more financials and a couple of blue chip names.

 

Treasuries are falling again this morning and continuing to slide on the Risk-on trade. Rising rates may be the only thing that could put an end to the equity rally as the 10-Year yield is approaching 2.6%.  Oil (/CL) is relatively flat and is consolidating near the $64 a barrel level. Crude inventories fell again according to the API data after the close yesterday and today’s government report will give us further clarity on the fall in stocks of oil. Overseas markets are also mixed and following the lead of the domestic equity moves. Economic data domestically ramps up today with reports due on Housing, Weekly Jobless Claims and oil inventories.  

 

Stock Stories:

Apple (AAPL) –Cash Hoard – Apple informed its workers that it will issue a bonus of $2,500 worth of restricted stock units following the introduction of new U.S. tax law. They also announced that they will create 20K jobs over the next five years in the U.S. Apple's direct contribution to the U.S. economy will be more than $350B over the next five years, not including Apple's ongoing tax payments, the tax revenues generated from employees' wages and the sale of Apple products according to the company.

 

Major Economic Reports:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Housing Starts

7:30 am CT – Philly Fed Business Outlook Survey

9:30 am CT – Natural Gas Inventories

10:00 am CT – Oil Inventories

  

Notable Earnings:   

Thursday – 1/18:   

Before Market:   BK, BBT, JBHT, KEY, MTB, MS, PPG, TSM

After Market:  AXP, CP, IBM

   

Friday – 1/19:

Before Market:  KSU, RF,SLB, SYF

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.

Jan 17, 2018 - Market Blog

1/17/2018

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Stocks were at session and all-time highs early yesterday morning but had a mid-day meltdown to kick off the holiday-shortened week. The Dow Industrials saw its biggest intra-day reversal since February of 2016 as equities took a hit on potential government shutdown news. Congress needs to pass a spending bill by Friday to avoid a shutdown and the contention between the Republicans and Democrats was pushing back against markets. Volatility spiked as the CBOE Volatility Index (VIX) rose nearly 15% to  $11.66 and was up even with stocks higher early in the session. This morning, equity futures (/ES) are snapping back ahead of the Wall Street open as investors buy yesterday’s dip. Earnings will again be the focus today with reports due from another round of financial firms and blue chips.

 

Treasuries are falling in another session of ‘Risk-on’ trading. Yields remain in a tight range, which should continue until we get some clarity on rates from the Fed. Oil (/CL) is down moderately but the trend remain bullish this year. Crude is off of last week’s highs but are also trading in a consolidating range.  Overseas markets are mostly lower but China is up modestly today. Economic data domestically ramps up today with reports due on Housing, industrial production and the all-important Beige Book, which reflects the health of the economy across all districts.

 

Stock Stories:

Bank of America (BAC) –Earnings – Bank of America reports Q4 net charge-offs rose to $1.2B from $880M, primarily driven by a single-name non-U.S. commercial charge-off totaling $292M. Excluding the single-name charge-off, the net charge-off ratio was fairly consistent with the prior quarter, the bank noted. The shares are up slightly ahead of the opening bell.

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

8:15 am CT – Industrial Production

9:00 am CT – Housing Market index

1:00 pm CT – Beige Book

2:00 pm CT – Fed’s Evans Speaaks

2:15 pm CT – Fed’s Kaplan Speaks

3:00 pm CT – Treasury International Capital

  

Notable Earnings:   

Wednesday – 1/17:   

Before Market:   ASML, BAC, FAST, GS, USB

After Market:  AA, SLM

   

Thursday – 1/18:

Before Market:  BK, BBT, JBHT, KEY, MTB, MS, PPG, TSM

After Market: AXP, CP, IBM

 

 *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.

Jan 16, 2018 - Market Blog

1/16/2018

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Stocks have started the Year with the best gains since 2003 as bullish momentum continues.  The Dow Industrials, the benchmark S&P 500 Index (SPX) and tech-heavy Nasdaq (QQQ) are all poised to open at another record high as optimism is reflected in the markets. This morning, equity futures (/ES) are sharply higher ahead of the Wall Street open in a continuation of the rally. Earnings will be the focus today with reports due from another round of financial firms and blue chips. Reports are due from Citigroup (C) and United Healthcare (UNH), and expectations are high for the quarterly reports.

 

Despite the gains in stocks, Treasuries are also in rally mode in the premarket. The inverse 10-year yield settled at 2.55% last Friday but is falling ahead of the Wall Street open. Oil (/CL) is down moderately but the trend remain bullish this year. Crude hit levels not seen since late 2014 last week as inventories are under pressure and geopolitical risks remain.  Overseas markets are mostly higher but the U.K.’s FTSE is in the red slightly. Germany is up over 1% and Japan’s Nikkei also rose 1% and hit 26 year highs during the session. Economic data domestically is light today but picks up into the end of the week.

 

Stock Stories:

General Electric (GE) –More Pain – GE announced that the comprehensive review and reserve testing for GE Capital's run-off insurance portfolio, North American Life & Health, will result in an after-tax GAAP charge of $6.2B for the fourth quarter of 2017. These actions will also help restore GE Capital ratios to appropriate levels according to the CEO. At a time when they are moving forward as a company, a charge of this magnitude from a legacy insurance portfolio in run-off for more than a decade is deeply disappointing.

 

Major Economic Reports:

7:30 am CT – Empire State Mfg. Survey

  

Notable Earnings:   

Tuesday – 1/16:   

Before Market:   C, CMA, UNH

After Market:  CSX

   

Wednesday – 1/17:

Before Market:  ASML, BAC, FAST, GS, USB

After Market:  AA, SLM

 

 *Follow us on Twitter @TradeWise

 

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

 

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

 

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

Showing Week of Jan 08, 2018

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Jan 14, 2018 - Weekend Market Update

TradeWise – Weekend Update

January 14, 2018

 

Stocks are having their best 10-day start to a year since 2003. All of the major indices closed at all-time highs as optimism reigns on Wall Street. The banks unofficially kicked off earnings season this past Friday and helped push equities to record levels. The economic data is looking good going into 2018 and continuing to show strength. Consumer spending is solid and is complemented by acceleration in housing as well as manufacturing. Employment may be easing back though gains in overall demand as Weekly Jobless Claims rise. This along with the need to build inventories, may point to greater hiring ahead. Inflation is still underperforming as the PPI and CPI were mixed this past week. Despite this, new factors, whether housing costs or higher import prices, are pointing to improvement. For the Federal Reserve, the week's results may hint at a less than gradual process for this year's rate hikes. For the week, the benchmark S&P 500 Index (SPX) jumped 1.6% while the Dow Industrials ($DJI) rose another 2%. The tech-heavy Nasdaq (QQQ) rallied another  1.5% while the small caps (IWM) led the major indices by rising 2.1%.

 

Oil prices (/CL) hit their highest levels since December of 2014 and settled at $64.40 a barrel this past week. Falling inventories and geopolitical risks have crude in a bullish trend.  The falling Dollar ($DXY) is also helping oil and the commodity space and should help inflation perk up soon. Treasuries saw more weakness this past week despite strong demand for both the 10 and 30-Year auctions on Wednesday and Thursday. The inverse 10-year yield rose 8 bps to settle at 2.55% and broke through a key resistance level. Volatility remains low as equities rise to all-time highs. The closely watched CBOE Volatility Index (VIX) is at $10.16 and reflecting little concern for any downside risks for equities.

 

Earnings season ramps up this week with more reports due from the banking sector while economic data is plentiful. A week shortened by Monday's Martin Luther King holiday opens on Tuesday with Empire State and the year's first indication on the 2018 factory sector. Definitive data on December's factory sector come on Wednesday morning with industrial production where the outlook may be soft. The Beige Book was surprisingly mixed all last year and the first reading on this year comes Wednesday afternoon, setting the stage for the month-end FOMC meeting. Housing was the big strength of the year-end economy and solid performances are expected for December housing starts and permits on Thursday. Also on Thursday will be jobless claims where another sharp rise would raise questions over the strength of the January employment report. Consumer sentiment winds up the week on Friday and another solid number is the call.

 

Major Earnings for the Upcoming Week:

Monday: 

A.M.   Markets Closed

P.M.  

 

Tuesday:

A.M.C, CMA, UNH

P.M. – CSX

 

Wednesday:

A.M. –  ASML, BAC, FAST, GS, USB

P.M. – AA, SLM

 

Thursday:

A.M. – BK, BBT, JBHT, KEY, MTB, MS, PPG, TSM

P.M. – AXP, CP, IBM

 

Friday:

A.M. – KSU, RF, SLB, SYF

 

Economic Releases (1/15– 1/19):

Monday:

Markets Closed

                                                                                                                                                                          

Tuesday:

7:30 am CT – Empire State Mfg. Survey

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

8:15 am CT – Industrial Production

9:00 am CT – Housing Market index

1:00 pm CT – Beige Book

2:00 pm CT – Fed’s Evans Speaaks

2:15 pm CT – Fed’s Kaplan Speaks

3:00 pm CT – Treasury International Capital

 

Thursday:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Housing Starts

7:30 am CT – Philly Fed Business Outlook Survey

9:30 am CT – Natural Gas Inventories

10:00 am CT – Oil Inventories

 

Friday:

9:00 am CT – Consumer Sentiment

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.

Jan 12, 2018 - Market Blog

1/12/2018

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Stocks rebounded sharply on Thursday after falling slightly during the previous session. The Dow Industrials, the benchmark S&P 500 Index (SPX) and tech-heavy Nasdaq (QQQ) all closed at record levels yesterday as the risk-on trade was back. The small caps (IWM, RUT) also hit an all-time high and rose 1.7% to lead the major indices. This morning, equity futures (/ES) are up modestly again in a continuation of yesterday’s broad-based rally. Earnings will be the focus today with the start of another earnings season unofficially starting. Reports are due from JP Morgan Chase (JPM) and Wells Fargo (WFC), which should give us some clarity on the financial sector. Markets are closed in the U.S. on Monday in observance of the Martin Luther King holiday.

 

We saw another solid auction in Treasuries yesterday as there was high demand for the 30-Year Bond, which added to strength from the previous day’s 10-Year Note result. Bonds are down slightly ahead of the bell but fixed income inflows continue to be strong despite the gains in the equity market. The inverse 10-year yield settled at 2.53% yesterday but is rising slightly ahead of the Wall Street open. Oil (/CL) is down moderately in the premarket and continuing yesterday’s mid-day sell-off from above $64 a barrel.  Overseas markets are mostly higher but Japan did fall 0.24% overnight. Germany is slightly higher as they edge closer to a new government. Economic data domestically picks up today with reports due on inflation with the CPI and the key Retail Sales numbers.

 

Stock Stories:

JP Morgan Chase (JPM) – Earnings – The banking giant posted better than expected EPS this morning but Revenue missed estimates. The banks will take write-offs last quarter to thwart the new tax laws so some of the numbers will be messy during earnings. The CEO stated it was another record year for the bank but the shares are falling slightly ahead of the open.

 

Major Economic Reports:

7:30 am CT – Consumer Price Index - CPI

7:30 am CT – Retail Sales

9:00 am CT – Business Inventories

12:00 pm CT – Baker-Hughes Rig Count

  

Notable Earnings:   

Thursday – 1/12:   

Before Market:   BLK, INFY, JPM, PNC, WFC

After Market:  N/A

   

Tuesday – 1/16: 

Before Market:  C, CMA, UNH

After Market:  CSX

 

 *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.

Jan 11, 2018 - Market Blog

1/11/2018

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Stocks started Wednesday’s session deep in the red but once again managed to shake off the negative sentiment to finish the day down only slightly. The benchmark S&P 500 Index (SPX) and tech-heavy Nasdaq (QQQ) both closed lower for the first time this year. Equities did manage to trade well off of lows as Bonds bounced back from a two-day sell-off. Concerns over rising rates hit stocks but positive comments from Warren Buffet contributed to a reversal from morning weakness. This morning, equity futures (/ES) are up slightly in a continuation of yesterday’s rally off of lows. The increased volatility in the Bond market this week has created some headwinds for equities but today is reflecting less concern as markets continue to show strength.

 

Treasuries are up slightly and have rebounded from weakness earlier this week. Reports that China would be reducing their purchases of U.S. debt have been unfounded and the bond market has rebounded today. The 10-Year auction yesterday showed some surprising demand which hit yields into the close. The inverse 10-year yield settled at 2.55% yesterday and is falling slightly ahead of the Wall Street open. Oil (/CL) continues to show strength after yesterday’s inventory data, which showed a drawdown of 4.95M barrels versus an expected 3.44M fall.  Overseas markets are mixed and looking for direction on the lead of the U.S. market. Economic data domestically picks up today with reports due on Weekly Jobless Claims and the PPI.

 

Stock Stories:

Delta Airlines (DAL) – Earnings – The airline company posted better than expected earnings this morning as they beat expectations on both EPS and revenue. The CEOs stated that they entered 2018 with significant momentum and every entity delivering positive passenger unit revenue for the first time in five years, driven by a robust demand environment and improving business fares. The stock is up 3% ahead of the open on the positive news.

 

Major Economic Reports:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Producer Price Index - PPI

9:30 am CT – Natural Gas Inventories

12:00 pm CT – 30-Year Bond Auction

1:00 pm CT – Treasury Budget

2:30 pm CT – Fed’s Dudley Speaks

  

Notable Earnings:   

Thursday – 1/11:   

Before Market:   DAL, SJR

After Market:  N/A

   

Friday – 1/12:

Before Market:  BLK, INFY, JPM, PNC, WFC

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.

Jan 10, 2018 - Market Blog

1/10/2018

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Stocks rose again on Tuesday and the S&P 500 Index (SPX) finished at another record high. The benchmark Index is having its best start since 1987 and investors continue to be optimistic heading into the start of earnings season. The S&P 500 is up 2.7% in 2018 as the momentum for equities both domestically and globally remains strong. This morning, equity futures (/ES) are falling sharply as the U.S. Dollar ($DXY) is taking a hit. Investors are showing concerns in the bond market as volatility rises and gold (/GC) is spiking higher on the fall in the greenback.

 

Treasuries broke down sharply yesterday and are showing more weakness today. The inverse 10-year yield broke resistance at 2.5% for the first time since mid-March and are rising further ahead of the Wall Street open. Oil (/CL) is modestly higher in a continuation of its recent rally. API data after the close yesterday saw a massive draw in inventories and today’s Department of Energy number should give us some additional clarity on stocks and supply.  Overseas markets are mostly lower and following the lead of the U.S. markets into the red. Germany is down almost 1% and leading the slide today. Domestically, economic data picks up with reports due on Import and Export prices along with business inventories.

 

Stock Stories:

Intel (INTC) – Issues – The shares of the tech company fell 2.5% on Tuesday as concerns remain on its chip security flaw. The company is also under scrutiny for the stock sale of its CEO, which is raising red flags on the timing of the issues. The stock is falling again today and volatility could remain in the near-term.

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

7:30 am CT – Import and Export Prices

8:00 am CT – Fed’s Evans Speaks

9:00 am CT – Atlanta Fed Business Inflation Expectations

9:00 am CT – Wholesale Trade

9:30 am CT – Oil Inventories

12:00 pm CT – 10-Year Note Auction

  

Notable Earnings:   

Wednesday – 1/10:   

Before Market:   LEN, MSM, SVU

After Market:  KBH

   

Thursday – 1/11: 

Before Market:  DAL, SJR

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.

Jan 09, 2018 - Market Blog

1/9/2018

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Stocks for the most part stuck to the Bullish script on Monday as they finished up modestly. The one outlier was the Dow Industrials (DIA) which finished down slightly on a fall in United Healthcare (UNH), Goldman Sachs (GS) and Disney (DIS).  The S&P 500 and the Nasdaq both settled at fresh all-time highs but equities did trade in a tight range for most of the session. This morning, equity futures (/ES) are flat to slightly higher once again as investors look ahead to economic data and the start of earnings season. Optimism is rising for global equities as tax cuts and corporate growth are propelling valuations to higher levels.

 

Treasuries are lower this morning and continuing to trend down on the ‘Risk-On’ trade. The 10-year yield is at 2.49% and may see a move above 2.5% this week with inflation data due . Oil (/CL) is modestly higher and is disconnecting from a rising U.S. Dollar, which should negatively affect prices. Crude remains in a bullish trend and is at levels not seen since June of 2015.  Overseas markets are higher and following the lead of U.S. markets. Officials from the two Korea’s met today and announced that North Korea will participate in the upcoming Winter Olympics. Domestically, economic data is light with reports due on JOLTS and the start of three Treasury auctions with the 3-year Note.

 

Stock Stories:

Seagate Technology (STX) – Rippled?! – The shares of the tech company spiked over 7% on Monday highlighting the company's holdings in Ripple, which has developed digital asset XRP, a cryptocurrency. The company also raised its revenue expectations for Q2 after the close yesterday. The stock is up again in the pre-market and has rallied 50% since hitting 52-week lows in August.

 

Major Economic Reports:

7:55 am CT – RedBook

9:00 am CT – Fed’s Kashkari Speaks

9:00 am CT – JOLTS

12:00 pm CT – 3-Year Note Auction

  

Notable Earnings:   

Tuesday – 1/9:   

Before Market:   AYI, SCHN

After Market:  SNX

   

Wednesday – 1/10: 

Before Market:  LEN, MSM, SVU

After Market:  KBH

 

 *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.

Jan 08, 2018 - Market Blog

1/8/2018

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

Stocks kicked off the first week of trading with the strongest gains since 2006. The positive momentum continues into 2018 as investors are confident that the global bullish run is not over. This morning, equity futures (/ES) are slightly higher once again as investors look ahead to economic data and the start of earnings season. Despite last Friday’s weaker than expected jobs data, capital flows into global equities continues as a record pace.

 

Treasuries are slightly higher this morning and continue to trade in a tight range. Many are expecting rates to rise but the benchmark 10-year yield remains near 2.47% and needs to break resistance at 2.5% if we want to continue higher . Oil prices (/CL) are modestly higher despite a rise in the U.S. Dollar today. Crude remains in a bullish trend and is at 2 ½ year highs. Overseas markets are higher led by Japan’s Nikkei, which is up nearly 1% today. Officials from the two Korea’s are set to meet on Tuesday for the first time since the end of 2015. The talks are expected to focus on the upcoming Winter Olympics hosted by South Korea.  Domestically, economic data is light as traders look ahead to retail sales and inflation data later this week.

 

Stock Stories:

Lululemon (LULU) – Working out – The athletic-apparel maker raised Q4 net revenue view to $905M-$915M based on total comparable sales increase in the high single digits on a constant dollar basis. This compares to previous guidance of net revenue in the range of $870M-$885M for the fourth quarter based on a total comparable sales increase in the mid-single digits on a constant dollar basis.

 

Major Economic Reports:

11:30 am CT – TD Ameritrade IMX

11:40 am CT – Fed’s Bostic Speaks

12:35 pm CT – Fed’s Williams Speaks

  

Notable Earnings:   

Monday – 1/8:   

Before Market:   N/A

After Market:  SHLM

   

Tuesday – 1/9:

Before Market:  AYI, SCHN

After Market: SNX

 

 *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.