Category Archives: Indexes

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

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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

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Stocks Higher; S&P 500 Positive For 2016

U.S. stocks opened higher Friday, extending a recent rally as oil prices rose and the dollar weakened following the Federal Reserve’s more accommodative policy decision earlier in the week.

The S&P 500 traded in positive territory for 2016 with financials leading nearly all sectors higher.

U.S. crude oil futures for April delivery extended recent gains to briefly top $41 a barrel in morning trade ET.

Options expiration on Friday will likely contribute to volatility.

The U.S. dollar index recovered slightly from a recent decline to trade mildly higher, but is still off more than 1 percent for the week so far. The euro was just below $1.13 and the yen at 111.53 yen against the greenback.

Friday:
Quadruple Witching
10 a.m.: Consumer sentiment
10 a.m.: Atlanta Fed business inflation expectations
11 a.m.: Boston Fed President Eric Rosengren speaks
1 p.m.: Oil rig count
St. Louis Fed President James Bullard

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Stocks Try For Gains As Energy Rises

U.S. stocks traded in a narrow range Thursday as the Federal Reserve’s Wednesday announcement remained in focus amid several data releases.

The Dow Jones industrial average tried for slight gains in morning trade, with Exxon Mobil and Boeing among the top contributors to gains.

Energy led S&P 500 advancers.

Coming Up:

Thursday

Earnings: Adobe Systems
10 a.m.: JOLTS
10 a.m.: Leading indicators
10:30 a.m.: Natural gas inventories
4:30 p.m.: Fed balance sheet/Money supply

Friday

Quadruple Witching
Earnings: Tiffany
9 a.m.: New York Fed President William Dudley speaks
10 a.m.: Consumer sentiment
10 a.m.: Atlanta Fed business inflation expectations
11 a.m.: Boston Fed President Eric Rosengren speaks
1 p.m.: Oil rig count
1:30 p.m.: St. Louis Fed President James Bullard

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Nasdaq briefly positive; Street awaits Fed

WEDNESDAY – U.S. stocks traded in narrow range Wednesday after morning data and ahead of the scheduled afternoon conclusion of the Fed meeting.

Treasury yields climbed, with the 2-year topping 1 percent for its highest since Jan. 8, after inflation and housing data.

Stocks opened lower and held mostly in the red in morning trade. The Nasdaq composite briefly attempted gains.

The FOMC is due to conclude its two-day meeting on Wednesday with the 2 p.m. ET release of its statement and economic projections. Those include the highly scrutinized “dot plot,” which shows the targets for appropriate federal funds rates by FOMC participants. Fed Chair Janet Yellen is also scheduled to give a news conference at 2:30 p.m.

Oil traded higher, with WTI above $37 a barrel following news producers will meet next month in Qatar to discuss a proposal to freeze output.

Coming Up:

Wednesday

Earnings: FedEx, Ctrip.com Intl., Guess, Herman Miller, Jabil Circuit
10:30 a.m.: Oil inventories
1 p.m.: European Central Bank President Mario Draghi gives welcoming remarks at ECB Contemporary Art From Poland Exhibition
2 p.m.: FOMC meeting announcement
2:30 p.m.: Fed Chair Janet Yellen press conference

Thursday

Bank of England monetary policy announcement and minutes
Earnings: Tencent, Michaels Cos., Intl. Game Technology, Lands’ End, Adobe Systems
8:30 a.m.: Jobless claims
8:30 a.m.: Philly Fed business outlook survey
8:30 a.m.: Current account
10 a.m.: JOLTS
10 a.m.: Leading indicators
10:30 a.m.: Natural gas inventories
4:30 p.m.: Fed balance sheet/Money supply

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Energy offsets tech as Dow posts 5-day win streak

U.S. stocks closed mixed Monday, steadying after their first three-week rally of the year so far, as gains in energy stocks offset declines in technology.

The Dow Jones industrial average posted its first five-straight days of gains since October. Chevron, IBM and Exxon Mobil contributed the most to gains. Visa and Nike were the greatest contributors to declines.

The S&P 500 also posted a five-day win streak by eking out a gain and topping 2,000 in the close. Energy rose nearly 2.4 percent as the top advancer, while information technology ended about 0.7 percent lower as the greatest decliner.

Over the last four weeks, the sector is up about 9 percent from its intraday low.

The Nasdaq composite underperformed as the only index of major three to close a touch lower, weighed by declines of about 2 percent or more in shares of Microsoft, Facebook, Amazon and Alphabet.

Gains in oil supported the rise in energy stocks. Brent crude topped $40 a barrel for the first time in 2016, while WTI briefly topped $38 a barrel in intraday trade and settled up $1.98 at $37.90 a barrel, its highest level of the year so far.

The major averages opened lower and traded sideways for much of the session, before closing mixed.
Coming Up:
Tuesday
6 a.m. NFIB survey
1 p.m. $24 billion 3-year notes auction
Wednesday
7 a.m.: Mortgage applications
10 a.m. Wholesale trade
1 p.m. $20 billion 10-year notes auction

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Stocks Tick Lower

U.S. stocks traded lower Thursday, but holding much of the week’s gains, after service sector reports and ahead of Friday’s jobs data.

The ISM non-manufacturing survey for February came in at 53.4. The figure was expected at 53, down from 53.5 in January.

January factory orders rose 1.6 percent.

The 2-year Treasury yield edged lower to 0.84 percent. The 10-year yield held steady at 1.85 percent.

The U.S. dollar index extended losses, with the euro at $1.093.

The final February Markit services PMI was 49.7, down from January’s final 53.2 print

Oil held lower in choppy trade but remained above $34 a barrel as of 9:53 a.m.
Coming Up:
Thursday
Earnings: Kroger, Royal Ahold, Barnes and Noble, Joy Global, Broadcom, Embraer, Ciena, Trina Solar, Cooper Cos.
10:30 a.m.: Natural gas inventories
10:45 a.m.: Dallas Fed President Rob Kaplan speaks
Friday
Earnings: Staples, WPP Group
8:30 a.m. Employment report; international trade
1 p.m.: Oil rig count

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Stocks Slightly Higher After Data

U.S. stocks traded mostly higher Friday, on pace to end the week with solid gains, as oil prices rose amid some data reports.

Personal income in January rose 0.5 percent, while personal spending rose 0.5 percent. The core PCE, which excludes food and energy, rose 0.3 percent.

The core PCE price index, the Fed’s preferred inflation measure, increased 1.7 percent in the 12 months through January, the largest rise since July 2014, after rising 1.5 percent in December.

Stocks pared gains following the report and the Dow Jones industrial average briefly fell into negative territory. Oil also came off session highs.

As of this morning, the major U.S. averages were on pace to end the week with gains of more than 2 percent.

The S&P 500 closed above the key 1,950 resistance level Thursday as stocks rallied into the close. Both the S&P 500 and Dow Jones industrial average were within 10 percent of their 52-week intraday highs, out of correction territory.

Coming Up:

G-20 meets in Shanghai
10 a.m. Consumer sentiment, personal income, consumer spending
Earnings: J.C. Penney, Foot Locker, Sotheby’s, Sempra Energy, AmericanTower, Centerpoint, Liberty Media, Telefonica, Rowan Cos

Saturday:
Earnings: Berkshire Hathaway

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Indexes Struggle For Gains, Oil Lower

THURSDAY – U.S. stocks traded in a range Thursday, after a better-than-expected durable goods report, as oil held mostly lower.

The Nasdaq composite gave up opening gains as declines in Apple and other major tech stocks weighed.

The S&P 500 struggled to hold initial gains as energy weighed on the index, while telecommunications and utilities led advancers.

WTI traded more than 1 percent lower near $31.70 a barrel in morning trade ET.

Coming Up This Week:

Thursday

Earnings: AB InBev, Bayer, Apache, Best Buy, Campbell Soup, Domino’s Pizza, Kohl’s, Chico’s FAS, Sears Holdings, SeaWorld, Baidu, Autodesk, Gap, Intuit, Kraft Heinz, Herbalife, Live Nation Ent., Noodles & Co., Weight Watchers
10:30 a.m.: Natural gas inventories
11 a.m.: Kansas City Fed Manufacturing Index
12 p.m. San Francisco Fed President John Williams
1 p.m. $28 billion seven-year notes
G-20 finance ministers meet in Shanghai

Friday

G-20 meets in Shanghai
Earnings: J.C. Penney, Foot Locker, Sotheby’s, Sempra Energy, AmericanTower, Centerpoint, Liberty Media, Telefonica, Rowan Cos
8:30 a.m. Real GDP Q4 (second reading); international trade
8:30 a.m.: Personal income, consumer spending
10 a.m. Consumer sentiment

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Oil Drops, Stock Recover From Session Lows

U.S. equities traded in a wide range on Tuesday as U.S. oil prices seesawed and investors looked ahead to Fed Chair Janet Yellen’s testimony.

The small-cap/penny stock Russell 2000 index was lower by 1% midday.

WTI futures slipped 4.8 percent, or $1.45, to trade at $28.44 a barrel in choppy trading. Earlier, the International Energy Agency said that demand for oil will “ease back considerably” in 2016.

The S&P 500 dropped nearly 1 percent at the open, led lower by energy, before briefly turning positive.

The Nasdaq composite seesawed, opening down more than 1 percent, before reversing losses and gaining about 1 percent. The index sat lower in midday trading.

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