Stocks Mixed On Huge Earnings Day

U.S. stocks traded mixed on Tuesday as one of the busiest days of the earnings season got under way.

The Dow Jones industrial average traded slightly lower, with Procter & Gamble contributing the most gains to the tune of 20 points, but Home Depot shaved off approximately 20 points. The S&P 500 fell 0.1 percent, with consumer discretionary leading decliners. The Nasdaq composite held around breakeven.

More than 90 companies were scheduled to post quarterly results on Tuesday. Dow components 3M, Caterpillar and DuPont reported earnings before the bell. Caterpillar and 3M posted mixed results, as both beat estimates on the bottom line, while missing on revenues. Caterpillar also lowered its 2016 earnings per share guidance.

Coming Up:



ATB: Apple, AT&T, Chipotle Mexican Grill, Capital One, Discover Financial, Express Scripts, Juniper Networks, Vertex Pharma, iRobot, Pandora Media, Panera Bread, Owens-Illinois

9 a.m.: Case-Shiller Home Price Index

9 a.m.: FHFA Home Price Index

10 a.m.: Consumer confidence

1 p.m.: $26 billion two-year Treasury note auction


8:30 a.m.: U.S. trade deficit

9:45 a.m.: Markit services PMI

10 a.m.: New home sales

1 p.m.: $34 billion five-year Treasury note auction

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Stock Market Higher on Positive Banking Earnings

U.S. equities rose on Friday as investors parsed through quarterly results from several big banks and economic data.

The Dow Jones industrial average rose more than 150 points before holding about 110 points higher, with Goldman Sachs contributing the most gains. The S&P 500 rose approximately 0.4 percent, with information technology and financials leading advancers.

The Nasdaq composite gained 0.4 percent.

JPMorgan Chase, Wells Fargo and Citigroup all posted better-than-expected quarterly results, beating estimates on both the top and bottom lines.

In economic news, U.S. retail sales rose 0.6 percent in September, matching expectations. Meanwhile, the Labor Department said its producer price index for final demand increased 0.3 percent after being unchanged in August.

Other data released Friday included business inventories, which rose 0.2 percent in August. Meanwhile, October consumer sentiment came in at 87.9, well below an estimate of 92, as concerns over the U.S. presidential election weighed.

Investors have been heavily scrutinizing U.S. economic data recently, trying to gauge the likelihood that the Federal Reserve raises interest rates later this year. According to the CME Group’s FedWatch tool, market expectations for a December rate hike are more than 60 percent.

The dollar rose 0.43 percent against a basket of currencies, with the euro near $1.099 and the yen around 104.18.

In oil markets, U.S. crude traded about 1 percent lower at $49.96 per barrel.

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Stocks Lower After Data

MONDAY – U.S. stocks traded lower on Monday, the first trading day of the fourth quarter, as investors digested key economic news and kept an eye on oil prices.

The Dow Jones industrial average fell about 100 points in midmorning trade before holding about 50 points lower, with UnitedHealth contributing the most losses. The S&P 500 fell 0.25 percent, with real estate and utilities leading decliners, as both fell 1 percent. The Nasdaq composite slid approximately 0.1 percent.

In economic news, the September Markit Manufacturing PMI came in at 51.5, a three-month low. “U.S. manufacturers signalled another moderate upturn in both production volumes and incoming new work during September, but the latest survey indicated a further loss of growth momentum from July’s recent peak,” Markit said.

The ISM Manufacturing index for September came in at 51.5, up from 49.4 in the previous month. Construction spending fell 0.7 percent in August, with analysts expecting a 0.2 percent increase.

This Week:


Auto sales


8:15 a.m.: ADP payrolls
8:30 a.m.: Trade deficit
9:45 a.m.: Markit services PMI
10 a.m.: ISM non-manufacturing
10 a.m.: Factory orders


8:30 a.m.: Jobless claims


8:30 a.m.: Employment report
10 a.m.: Wholesale trade
3 p.m.: Consumer credit

US stocks fall following ECB rates decision

THURSDAY – U.S. stocks traded lower Thursday as investors digested the European Central Bank’s latest monetary policy decision and remarks made by its president, Mario Draghi.

The Dow Jones industrial average traded about 60 points lower, with Apple contributing the most losses.

The ECB kept interest rates unchanged and did not announce an extension of its quantitative easing program. Draghi said in a news conference the central bank did not discuss an extension of said program, but added the program will run until the end of next March or beyond, if necessary.

U.S. stock futures traded mostly flat after the ECB announced its decision, before holding lower.

Investors have been closely eyeing each data set, looking for clues about whether the Fed will raise interest rates in September. Market expectations for a rate hike in September were 18 percent, according to the CME Group’s FedWatch tool.

Coming Up:


3:00 p.m. Consumer credit


7:45 a.m. Boston Fed President Eric Rosengren
10:00 a.m. Wholesale

A Few Tidbits To Start Your Tuesday

Gold gains as dollar dips amid Fed interest-rate uncertainty.  https://t.co/0r6MunEIFK

What to expect from the new Apple iPhone   https://t.co/KD6xDvOtgX

BA flyers are being delayed due to an IT glitch. Why system crashes are so hard to eliminate.  https://t.co/LPLyzqLVfk

What BRExit? Economists raise UK GDP forecasts.   https://t.co/fV5b0koW5A


Wall Street To Open Slightly Higher

TUESDAY – U.S. stock index futures pointed to a slightly higher open on Tuesday, as investors remained watchful over the recovery in U.S. crude, ahead of important economic data.

For the U.S.’ first trading day of the week after Labor Day, oil is expected to keep investors abuzz after leading oil producers Russia and Saudi Arabia agreed on Monday to cooperate on stabilizing the energy market.

On the data front, the final Markit services PMI is due out at 9.45 a.m. ET, followed by the ISM non-manufacturing data, set to come out at 10 a.m. ET.

The data will be of key importance for the U.S., as investors look for indications as to how well the U.S. economy is performing. The data come just days after a disappointing jobs figure for the U.S. In August, nonfarm payrolls increased by 151,000, below what Wall Street economists were expecting of 180,000.

When it comes to earnings, Marvell Technology posted quarterly results before the bell Tuesday. Dave & Buster’s Entertainment and Casey’s General Stores are also expected to release their latest earnings.

European stocks traded slightly higher, while Asia-Pacific indexes finished mixed to higher overnight.

Stocks slightly higher; materials lead

THURSDAY – U.S. equities traded slightly higher Thursday, a day ahead of a key speech from Federal Reserve Chair Janet Yellen, and following the release of solid economic data.

The Dow Jones industrial average rose just 10 points, with Home Depot contributing the most losses. The S&P 500 rose about 0.15 percent, with materials leading. Investors also kept an eye on health care a day after posting its worst day since June 24.

The sector fell Wednesday after presidential candidate Hillary Clinton tweeted about Mylan’s price increases of the allergy drug EpiPen.

The three major indexes have held in a tight range recently amid low trading volume and a lack of volatility. On Wednesday, the S&P recorded its 33rd straight session without a 1 percent move on a closing basis.

Coming Up:


Earnings: Autodesk, GameStop, Pure Storage, Splunk
1 p.m. $28 billion 7-year note auction


Earnings: Big Lots
Fed Chair Janet Yellen speaks at Jackson Hole, Wyoming
8:30 a.m. Real GDP Q2 (second); international trade
9:45 a.m. Services PMI
10 a.m. Consumer sentiment

Stocks trade flat despite a sharp fall in oil prices

MONDAY – U.S. stocks tried for gains on Monday as investors digested falling oil prices, low trading volume and looked ahead to a key speech from the top Federal Reserve official.

Stocks posted new record highs last week, despite the S&P notching its 30th straight session without a 1 percent move on a closing basis, its longest streak since 2014.

Fed Chair Janet Yellen is scheduled to deliver a speech Friday on the U.S. economy and monetary policy at the Economic Policy Symposium at Jackson Hole, Wyoming.

Yellen’s remarks will be delivered following hawkish rhetoric from Fed Vice Chairman Stanley Fischer and New York Fed President William Dudley.

There are no major economic data reports due Monday, but the second read on second-quarter GDP is scheduled for release Friday.

Coming Up:


10 a.m. New home sales
1 p.m. $26 billion 2-year note auction


9 a.m. FHFA home prices
9:45 a.m. Manufacturing PMI
10 a.m. Existing home sales
1 p.m. $34 billion 5-year note auction

Indexes Hit Intra-Day Records

Stocks traded higher Monday, all three major indexes hitting new highs as investors kept an eye on oil prices and on the Federal Reserve.

The S&P 500 and the NASDAQ composite jumped above previous intraday highs of 2,188.45 and 5,238.54, respectively. The Dow Jones industrial average also posted a record high rising past its previous high of 18,638.34. These records were all set last week, despite the indexes posted slight weekly gains.

On the data front, the Empire State Manufacturing survey index fell five points to -4.2. Other data due Monday include the NAHB housing index, scheduled for release at 10 a.m. ET.

This Week:


10 a.m. NAHB survey

4 p.m. TIC data


8:30 a.m. CPI; housing starts

9:15 a.m. Industrial production

12:30 p.m. Atlanta Fed President Dennis Lockhart


2 p.m. FOMC minutes


8:30 a.m. Initial claims; Philadelphia Fed survey

10 a.m. New York Fed President William Dudley

4 p.m. San Francisco Fed President John Williams

Stocks close mostly lower

U.S. equities closed mostly lower on Friday as investors digested disappointing economic data, following a record-setting day on Thursday.

Retail sales for July came in unchanged, with economists expecting a 0.4 percent increase. Meanwhile, the July reading of the producer price index showed a decline of 0.4 percent, as economists forecast a 0.1 percent gain.

The weak retail sales data were released a day after strong earnings from retail giants Macy’s and Kohl’s pointed to further strength for the overall U.S. consumer.

Excluding Thursday, U.S. stocks have traded in a very narrow range this week, with volatility hovering around multi-year lows. The CBOE Volatility index (VIX), widely considered the best gauge of fear in the market, traded about 1.4 percent lower, near 11.5. In afternoon trade Friday, Schwab’s Frederick said there were four calls on on the Vix for every put in the options market, which indicates investors think the index “can’t go much lower.”

Earlier on Friday, the S&P and the Nasdaq briefly traded in positive territory.

TheDow Jones industrial averagefell 37.05 points, or 0.2 percent, to close at 18,576.47, with DuPont leading decliners and ExxonMobil the top advancer.

TheS&P 500 closed 1.74 points lower, or 0.08 percent, at 2,184.05, with materials leading seven sectors lower and energy the biggest riser.

TheNasdaq rose 4.5 points, or 0.09 percent, to end at 5,232.89.