STTG Market Recap May 26, 2015

twc

Last week we remarked how the S&P 500 finally had broken out of a multi month range… but then it did little. Usually once a stock/ETF moves out of a long range it has a pronounced move; but the S&P 500 didn’t – it barely budged. Today that move collapsed. The S&P 500 fell 1.03% and the NASDAQ 1.11%. Most pointed to some vague increase in a chance of a rate hike but this is too much tea leaving – the Federal Reserve has said everything is data dependent.

U.S. Federal Reserve Vice Chairman Stanley Fischer said Tuesday that markets should not be surprised by the timing or pace of rate hikes.

In economic news, durable goods for April showed a decline of 0.5 percent, roughly in-line with expectations. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rose 1.0 percent last month after an upwardly revised 1.5 percent increase in March. New home sales for April showed an increase of 6.8 percent to a seasonally adjusted annual rate of 517,000, up from the consensus 510,000.

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STTG Market Recap May 18, 2015

altr

Indexes posted moderate gains Monday as a mixed morning led to afternoon buying; that is the pattern one wants to see. The S&P 500 gained 0.30% and the NASDAQ 0.60% as news flow was very light. For the year the S&P 500 is 3.4% higher and the NASDAQ is up 7.2% – but it has not been easy sledding in 2015. Fed Bank of Chicago President Charles Evans repeated his call to hold interest rates near zero until early 2016 at a speech in Stockholm.

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STTG Market Recap May 1, 2015

yum

Friday was almost the complete opposite of Thursday – especially in the NASDAQ. Yesterday we wrote how it was difficult for the NASDAQ to rally without the potent combo of Apple + biotechs, which both suffered yesterday. Today both jumped and the results were predictable. The S&P 500 rallied 1.09% and the NASDAQ 1.29%. We will begin to see more economic data that matters as the first week of the month is chock full of interesting reports. Today we had manufacturing and construction:

April’s manufacturing ISM index missed slightly, coming in at 51.5, unchanged from the previous month. The report was expected to show a modest rise to 52 that would follow five consecutive months of weakening. Any reading over 50 signals expansion. Construction spending data for March showed a decline of 0.6 percent.

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STTG Market Recap Apr 30, 2015

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Quick Note from Blain: Made some short and “to the point” market analysis videos over at Ticker.tv. These are 100% mobile friendly, please check them out and let me know what you think. If you like them I will try and make some every couple days. Thanks!

Indexes continue to show weakness as the S&P 500 fell 1.01% and the NASDAQ 1.64%.  Data today showed that consumer spending in March posted the the biggest increase since November, while February’s gain was larger than previously estimated. Incomes were little changed reflecting a drop in dividend payments.

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STTG Market Recap Apr 28, 2015

twtr

In what was generally a quiet day we had some fireworks in Twitter (TWTR) in the closing hour as its earnings were released early causing the stock to halt and then re-open and plunge. More on that later. As for the indexes the S&P 500 gained 0.28% while the NASDAQ fell 0.10%. Many people tend to sit on their hands the day ahead of a Fed announcement, which comes tomorrow.

“The market is very content with the earnings and its a stubbornly strong market, and I suspect another reason for today’s climb is investors feel confident the FOMC statement … is not going to be (too) hawkish and interest rates stay on hold,” said Peter Cardillo, chief market economist at Rockwell Global Capital.-

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STTG Market Recap Apr 27, 2015

iphone

A morning gap up led to some sellers showing up as the extended NASDAQ needed to take a bit of a breather. The S&P 500 fell 0.41% and the NASDAQ 0.63%. There is a Federal Reserve meeting this week in between all these earning reports so we’ll see if there is any gyration Wednesday – but no action is expected until fall at the earliest in terms of raising interest rates.

Fun fact – Amazon.com founder Jeff Bezos is now richer than 3 of the 4 Walmart heirs. Bezos’s fortune jumped $4.9 billion to $40 billion making him the world’s 10th-richest person. The jump puts him on par with Wal-Mart founder Sam Walton’s daughter-in-law, Christy Walton, the richest woman in the U.S. Walton’s sons Jim and Rob are ranked 11th and 12th with $38.5 billion and $37.4 billion respectively. Alice Walton is ranked 15th with $36.7 billion.

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STTG Market Recap Mar 17, 2015

espr

U.S. indexes didn’t do much ahead of the Federal Reserve’s announcement tomorrow. The S&P 500 fell 0.33% while the NASDAQ gained 0.16%. The NASDAQ was helped by Apple and the biotechs again. Tomorrow all eyes will be on 1 word: “patient”. This is in relation to describing its timetable for raising interest rates. Expect the normal volatility upon the Fed release. If the Fed is dovish as usual and the word patient remains in the statement one would expect the trading community to love it. This has been the pattern so one almost expects them to be dovish and surprise the market by not budging.

In economic news the housing market did not have a great month but some of this is weather related:

The Commerce Department said that builders began construction at a seasonally adjusted annual rate of 897,000 homes in February, a steep 17% plunge from January.

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STTG Market Recap Mar 11, 2015

usd

The indexes attempted to bounce Wednesday but failed. Considering the general near term oversold conditions in the market it was a pretty dismal attempt at a bounce. The S&P 500 finished down 0.19% and the NASDAQ 0.20%. News flow was quiet as the same culprits reappeared.

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