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:

Thursday

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

Friday

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

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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:

Tuesday

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

Wednesday

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:

Monday

10 a.m. NAHB survey

4 p.m. TIC data

Tuesday

8:30 a.m. CPI; housing starts

9:15 a.m. Industrial production

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

Wednesday

2 p.m. FOMC minutes

Thursday

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.

Dow Jones Down 100, But Retail Stocks Rise

U.S. stocks traded lower Monday, with energy stocks weighing as oil prices declined, as investors looked ahead to major earnings reports and central bank meetings.

Chevron, Exxon Mobil and UnitedHealth contributed the most to declines in the Dow Jones industrial average, which held about 100 points lower in afternoon trade. The Dow is up about 3 percent for the month so far.

No major economic data was due Monday. The Dallas Fed manufacturing index improved from June’s negative 18.3 to minus 1.3 in July. Second-quarter GDP and housing data are among the major reports due later in the week.

About nine stocks declined for every five advancers on the New York Stock Exchange, with an exchange volume of 423 million and a composite volume of 2.0 billion in afternoon trade.

Coming Up:

Tuesday:

Two-day Fed meeting begins

9 a.m. S&P/Case-Shiller home prices

9:45 a.m. Services PMI

10 a.m. New home sales<br>10 a.m. Consumer confidence

1 p.m. $34 billion 5-year note auction

Wednesday:

7 a.m. Mortgage applications

8:30 a.m. Durable goods; pending homes

11:30 a.m. $15 billion 2-year floating rate notes auction

2 p.m. FOMC rate decision

All major indexes lower; oil falls after inventory data

THURSDAY – U.S. stocks traded narrowly mixed Thursday as investors eyed oil prices ahead of the highly anticipated jobs report due Friday.

The Dow Jones industrial average gave up opening gains to trade a touch lower, with Chevron, Exxon Mobil and Travelers having the greatest negative impact. The S&P 500 turned negative, attempting to hold the psychologically key 2,100 level. Utilities and telecoms led decliners, while energy also gave up earlier gains.

U.S. crude oil futures erased gains to trade more than 3 percent lower just below $46 a barrel after the EIA said weekly crude inventories declined 2.2 million barrels, far less than the 6.7 million barrel drawdown the American Petroleum Institute reported late Wednesday. A reversal in oil prices higher helped stocks close higher on Wednesday.

European markets bounced back Thursday, with the pan European Stoxx 600 Index trading more than 1 percent higher, helped by gains in banking stocks.

On the earnings front, PepsiCo reported better-than-expected earnings. Barracuda Networks and Helen of Troy are among companies set to report after the bell.

Coming Up:

Friday

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

Market-Makers Signals: Reading the signals they send each other to move a stock.

Many traders believe that market makers will “signal” moves in advance buy using small amounts of buys or sells as “signals”. The “signals” are from one market maker to another to communicate their intentions.

Having worked on trading floors with market makers, we can attest that this does happen. Here are the signs…

Read More

Dow Falls 100 Points

U.S. stocks opened lower Tuesday as the yen and euro strengthened against the dollar. Weaker-than-expected Chinese manufacturing data also weighed slightly.

The Dow Jones industrial average fell more than 100 points soon after the open, with Goldman Sachs contributing the most to declines.

Among the few advancers were Pfizer and Apple, which attempted to break its first eight-day losing streak since 1998.

The euro traded near highs not seen since last August, while the yen was around its strongest against the dollar since October 2014. The dollar index hovered near 15-month lows after falling half a percent Monday for its sixth-straight day of decline.

Coming Up:

Tuesday

Earnings: Avis Budget, CBS, Illumina, Mylan Labs, Western Union, Etsy, Glu Mobile, Live Nation Entertainment, Match Group, Newfield Exploration, Noodles & Co., Papa John’s, Potbelly, Zillow

Vehicle sales
10:30 a.m. Cleveland Fed President Loretta Mester
7 p.m. Atlanta Fed President Dennis Lockhart

Wednesday

Earnings: AB InBev, Priceline, Royal Dutch Shell, Siemens, Time Warner, Humana, IntercontinentalExchange, Zoetis, Cedar Fair, Kate Spade, Shopify, Shutterstock, Virtu Financial, Wix.com, 21st Century Fox, MetLife, Allstate, Fitbit, Kraft Heinz, Murphy Oil, Tesla Motors, Transocean, Whole Foods, Eldorado Gold, GoDaddy, Weight Watchers, Yamana Gold, Zynga

7 a.m.: Mortgage applications
8:15 a.m. ADP employment
8:30 a.m. International trade; productivity and costs
9:45 a.m. Services PMI
10 a.m. ISM nonmanufacturing; factory orders
10:30 a.m.: Oil inventories
6:30 p.m. Minneapolis Fed President Neel Kashkari

Dow Up 100+ In Early Trading

U.S. stocks traded higher Wednesday, following a global rally on encouraging China trade data, and helped by JPMorgan’s earnings beat.

The Dow Jones industrial average gained more than 100 points soon after the open. Goldman Sachs and JPMorgan Chase contributed the most to gains.

Financials are the worst performing sector in the S&P 500 for the year so far.

The Nasdaq composite gained more than 1 percent with Apple and Amazon.com leading major tech stocks higher.

Coming Up:

Wednesday

Earnings: Pier 1 Imports, Kinder Morgan, Noble

10 a.m. Business inventories

10:30 a.m. EIA oil inventories

1 p.m. $20 billion 10-year note auction

2 p.m. Beige book

Thursday

Earnings: Bank of America, BlackRock, Wells Fargo, PNC Financial, First Republic Bank, Freeport-McMoRan, Snap-on, Advanced Micro, Delta Air Lines, Shaw Communications, Infosys

8 a.m. Bank of Japan Governor Haruhiko Kuroda at CFR, New York

8:30 a.m. Jobless claims

8:30 a.m. CPI

10 a.m. Atlanta Fed President Dennis Lockhart

10 a.m. Fed Gov. Jerome Powell at Senate Banking subcommittee

1 p.m. $12 billion 30-year bond auction

Stocks Start Lower Monday

U.S. stocks traded in a range Monday, after five straight weeks of gains, as investors eyed oil and housing data in the holiday-shortened week.

The major averages tried to reclaim opening losses to hold mostly higher, with telecommunications leading S&P 500 advancers and Boeing the top contributor to gains in the Dow Jones industrial average.

Citigroup traded more than 1 percent higher. KBW said in a Sunday note the firm “could be one of the only U.S. (global systematically important banks) that could successfully split up,” a move that “should unlock meaningful shareholder value—50+% returns versus the current market capitalization.”

The Nasdaq composite outperformed in morning trade, as Apple gained more than half a percent and the iShares Nasdaq Biotechnology ETF (IBB) rose 1.5 percent.

U.S. crude oil futures for April delivery attempted to hold higher above $39.50 a barrel. After the settle, the contract rolls to May, which was above $41 in morning trade.

Today’s Data:

Monday

12:40 p.m.: Atlanta Fed President Dennis Lockhart speaks on the economic outlook and monetary policy.

8:30 p.m.: St. Louis Fed President James Bullard speaks on economic inequality