Tag Archives: Jobless Claims

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



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:


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


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 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:
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
Earnings: Staples, WPP Group
8:30 a.m. Employment report; international trade
1 p.m.: Oil rig count


Stock Futures Higher After Janet Yellen Remarks

U.S. stock index futures pointed to a sharply higher open on Wednesday after a very volatile week so far, as investors digested the written testimony from Federal Reserve Chair Janet Yellen.

In her prepared remarks, Yellen said that, if the economy were to disappoint, a lower path of Fed funds rates would be appropriate. She also said that near-term inflation remains low due to falling energy prices, but that the FOMC expects inflation to reach 2 percent in the medium term.

Dow futures held about 110 points higher after the testimony’s release, after briefly gaining 150 points. Yellen is scheduled to testify in front of Congress Wednesday and Thursday.

Coming Up This Week:

MBA Mortgage Applications
EIA Petroleum Status Report

Jobless Claims
Bloomberg Consumer Comfort Index
Janet Yellen Speaks

Retail Sales
Consumer Sentiment
Baker-Hughes Rig Count