Mar 04

Equity futures slightly in the red

3/3/15 Market Recap:

With relatively little headline news or major earnings to substantially drive the markets in either direction, the markets yesterday pulled back as investors took some profits and the major averages hovered at or around record highs. The S&P and Dow both fell just a hair under half a percent while the Russell lagged the four major averages, dropping by .63%. The Nasdaq, which a day earlier closed above the psychologically key 5,000 mark, pulled back by .56% to close 21 points below that 5k mark. Treasury bond prices also declined, falling for the second straight day, as prices were pressured by new corporate issues from companies like Actavis and Exxon Mobil. The Ten year yield currently stands at 2.12%. 


Looking Ahead:

Equity futures are in the red slightly as investors await a few key pieces of economic data. The ADP jobs report in particular, which shows the number of private sector jobs added to the economy, will be important for investors as it serves as an appetizer to the jobs report that will come on Friday. Tracking the employment situation is key because it can give clues as to the timing and scope of an interest rate hike by the Fed. Other important news investors should look out for today include non-manufacturing PMI and petroleum inventory data.

Make sure to tune into Money Matters this Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest economic and market update. Visit www.ggfs.com for details.

Mar 03

Starting March with a bang

3/2/15 Market Recap:

Markets began March with a bang with all major stock averages ending the day positive. The Nasdaq, in particular, led with gains of .90% for the day and closed above the 5,000 mark for the first time since March of 2000. The Nasdaq’s performance was boosted by deals in the space including the acquisition of Freescale Semiconductors by NXP Semiconductors. The tech heavy index has also increased the most year-to-date, rising 5.74%. Yesterday also brought positive economic news with both consumer spending and income increasing by .3%. The positive news provided a boost for consumer discretionary stocks which led all sectors with a gain of 1.20%. Also leading for the day was the aforementioned tech sector which ended with gains of .97%. On the other end, oversupply concerns of crude oil and rising fixed income yields dragged down energy and utilities which fell by .69% and 1.95% respectively.


Looking Ahead:

The markets are pointing a lower open this morning as investors wait and see if stocks can maintain recent momentum. The markets will be waiting for earnings releases from Kate Spade (KATE), Autozone (AZO), and Best Buy (BBY) later today with no major economic data to drive the markets.

Make sure to tune into Money Matters this Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest economic and market update. Visit www.ggfs.com for details.

Feb 26

Futures look to a positive open

Wednesdays Market Recap:

Stocks closed the day mixed yesterday with the Dow and Russell 2000 gaining while the S&P and Nasdaq pulled back. Investors again listened to testimony for clues regarding the timing and scope of a rate rise but her comments yesterday offered no surprises. Sectors performance was similarly contrasted with half of the ten sectors closing positive and the other half closing negative. Consumer Discretionary stocks led the way, gaining .79% on the back of positive earnings reports from companies like Target (TGT) and Lowes (LOW). Treasuries also strengthened slightly, with 10 year yields closing the day at 1.968%.


 

Looking Ahead:

Futures look to a positive open this morning as investors await a slew of economic reports. Inflation, jobless claims, and durable goods data come in at 8:30 followed by the housing price index at 9am. Inflation, in particular, is expected to have fallen last month due to the strong decline of gasoline prices though the drop is expected to be brief. Today’s earnings of note include retailers Kohl’s (KSS), JCPenney, (JCP), and Gap (GPS).

Don’t miss our Co-Portfolio Manager, Oliver Pursche, of Fox Business tonight at 6:00 PM when he joins Charles Payne on “Making Money”, and make sure to tune into Money Matters with Gary Goldberg this Sunday at 11 AM on WOR 710 AM Radio to hear our complete market and economic commentary.  Gary’s guests this week are Nobel Prize winning Yale Economics Professor Robert J. Shiller and Doctor Kristine Gedroic.  Visit www.ggfs.com for details.

Feb 25

Mixed Markets, awaiting second half of Yellen’s testimony

Tuesdays Market Recap:

Stocks increased in yesterday’s trading as Fed Chair Janet Yellen drew a narrative of US economy that has been improving in the past six months. She reiterated however, that the Fed will continue to remain “patient” in making a decision regarding the increase of Fed rates, language that seemed to denote that the Fed would be unlikely to raise rates in the near term. Markets were also aided by a couple of positive economic data points, including a positive reading in both home prices and consumer confidence, and a strong earnings report from home improvement giant Home Depot (HD). The Dow led all the major averages, which were all positive for the day, with a gain of .51%. Out of the ten S&P sectors, Utilities and Telecom once again showed leadership, both gaining .61%, while Healthcare was the only sector in the red with a drop of -.06%. Fed Chair Yellen’s positive notes on the economy also aided Treasuries with 10 year yields falling below 2% and closing at 1.98%.  


Looking Ahead:

Markets are mixed this morning, awaiting the second half of Fed Chair Janet Yellen’s testimony before Congress. The testimony, which will be in front of the Financial Services Committee, will once again begin at 10am. Investors will also be looking at January home sales data (10am) and the EIA’s weekly report on crude oil inventory (10:30am). Finally, major earnings releases of the day include Target (TGT), Lowes Companies (LOW), Dollar Tree (DLTR), and Chesapeake Energy (CHK).

Make sure to tune into Money Matters with Gary Goldberg this Sunday at 11:00 AM on WOR 710 AM Radio to hear a great interview with the founder of Zillow’s regarding the state of the real estate market, and to hear our latest economic and market commentary. And don’t miss our Co-Portfolio Manager, Oliver Pursche, this Thursday at 6 PM when he joins Charles Payne and crew on Fox Business for the hour. Visit www.ggfs.com for details.

Feb 24

Markets mainly pulled back

Market Recap:

Markets mainly pulled back in yesterday’s trading, with only the Nasdaq being able to muster slight gains of .10%. Slumping oil prices and a disappointing existing home sales report drove the day’s action but investors were also seen to trade cautiously ahead of today’s Senate testimony by Fed Chair Janet Yellen. The fall in oil prices led to a .42% drop for the Energy sector, which along with telecom at -.58% were the two worst performers among the ten sectors of the S&P. On the other side, Utilities and Healthcare led with gains of .67% and .35% respectively.


Looking Ahead: 

Though there is economic data being released and Home Depot (HD) reporting earnings, today’s trading will most likely be driven by Fed Chair Janet Yellen’s testimony before the Senate Banking Committee. The markets wait for any clues or indications to determine the timing of a rate increase. Though she is expected to remain flexible in the verbiage, some investors believe that she will keep the possibility of a midyear hike alive after more dovish comments in January. The testimony is slated to begin at 10am. Aside from Home Depot (HD), other notable stocks that will be reporting earnings include Comcast (CMCSA), Hewlett Packard (HPQ), Macy’s (M).

Make sure to tune into CNBC this afternoon at 3:45 to watch our Co-Portfolio Manager, Oliver Pursche, when he provides our latest outlook and commentary live from the floor of the New York Stock Exchange. And don’t miss Money Matters with Gary Goldberg this Sunday at 11:00 AM on WOR 710 AM when Gary interview the founder of Zillow – the real estate company – and provides our complete market and economic analysis. Visit www.ggfs.com for details.

Feb 23

This Week’s Market Moving Events

Market Recap:

Stocks climbed sharply to end at all-time highs in Friday as details of a compromise to avert a shutdown of Greek banks between Eurozone finance ministers and Greek officials were made public. While market participants were elated, Germans were not, and so the drama will likely continue next week.


Looking Ahead:

It will be another busy week of economic data releases, as inflation and manufacturing data come into focus. Speeches by Janet Yellen and a second look at Fourth Quarter GDP data could make the later part of the week more volatile. Don’t miss our Co-Portfolio Manager, Oliver Pursche, on Bloomberg Television Monday afternoon at 4:00 PM, and CNBC Tuesday afternoon at 3:45 PM.


This Week’s Market Moving Events:

  • Monday: Chicago Fed National Activity data, Existing Home Sales, PMI Services data and Dallas Manufacturing data.
  • Tuesday: US Consumer Confidence, Janet Yellen speaks, Case Shiller Home Prices, Richmond Fed Manufacturing data and Chinese Flash PMI
  • Wednesday: New Home Sales, Mortgage Applications, Janet Yellen speaks, Petroleum report
  • Thursday: Eurozone economic data and consumer sentiment, US Jobless Claims, Durable Goods orders, Consumer Prices and Consumer Comfort data
  • Friday: US Q4 GDP (second reading), Chicago PMI and Pending Home sales.

Feb 20

Futures point towards mixed opening

Market Recap:

Stocks were mixed yesterday with the S&P and Dow falling slightly and the Nasdaq gaining as investors weighed continuing developments in Europe and oversupply concerns once again drove oil prices downward. In Europe, negotiations between Greece and the rest of the Eurozone continue after Germany rejected a six month extension proposal on Greece’s current bailout program. Despite the current impasse however, there is widespread belief that a deal will eventually be made. Tech stocks led the S&P boosted by a 8.5% gain in Priceline (PCLN) after a positive earnings result. On the other side, Energy and Utilities lagged, falling .78% and 1.09% respectively. The US dollar once again ticked higher against its major counterparts, rising .1% against the yen and .2% versus the Euro.


Looking Ahead:

Looking ahead to today’s trading, futures are pointing towards a mixed opening with investors waiting for more news concerning the ongoing Greek bailout talks. On the economic front, flash US manufacturing PMI data will be released at 9:45am. Currently, markets in Europe are mixed while Asian markets were quiet due to the Lunar New Year.

Make sure to tune into Money Matters with Gary Goldberg this Saturday at 2:00 PM and Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest market commentary and economic analysis.  Gary’s Guest is Wayne Nelson, lead singer of the Little River Band.  And don’t miss our President, Oliver Pursche, on Bloomberg TV next Monday at 4:00 PM, CNBC next Tuesday at 3:45 PM and Fox Business News on Thursday at 6:00 PM. Visit www.ggfs.com for details.

Feb 18

Commodities strengthen, Dollar weakens, Yields rise

Market Recap:

Stocks fluctuated near the flat line most of Tuesday, as investors digested positive news from Europe, and weaker than forecast economic data from the U.S. Reuters reported that European finance ministers and Greek officials struck a short-term deal to extend bailout funds for 6 months, reducing the risk of a Greek banking system collapse. In the U.S. homebuilder sentiment and housing starts slowed slightly more than expected, disappointing market participants (watch our discussion on Fox Business relating to Greece and where to put your money now). Commodities strengthened slightly, while the dollar weakened and yields rose a bit.

Stocks to Watch

Click image to watch


Looking Ahead:

Equity futures are pointing to a mixed open on Wednesday as investors continue to eye the Greek debt crisis and are getting more economic news ahead of this afternoon’s release of the FOMC minutes. While we continue to believe stocks will move higher over the course of the year, we are urging some caution in form of extra due diligence as markets are sitting at all-time highs. In our view, investors need to continue to focus on high-quality dividend paying stocks, particularly focusing on those who are likely to raise their dividend, and shunning those who will likely cut their dividend. Make sure to tune into Fox Business this Thursday at 6 PM when our President, Oliver Pursche, joins Charles Payne for the hour to discuss our complete market outlook. And tune into Money Matters with Gary Goldberg this Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest economic analysis and market commentary. Visit www.ggfs.com for details.

Feb 13

Next Week’s Market Moving Events

Market Recap:

Stocks climbed on Thursday as progress with the Greek debt renegotiation helped relieve investor concerns, while the prospect of a new cease-fire between Ukraine and Russia also eased geopolitical tensions. On the economic front, US data was mostly positive but investors really rejoiced on the stronger than expected European GDP data, which was mostly boosted by stronger than forecast German manufacturing and export activity. The traditionally defensive Telecom and Utility sectors were the sole sectors in negative territory, as stocks gained nearly 1%.


Looking Ahead:

Markets seem set to extend yesterday’s gains as a rise in Oil prices is giving market participants confidence that there will be sufficient growth in the energy sector to avoid any significant ongoing reduction in capital expenditures as well as a (unlikely) disinflationary cycle. Better than expected economic news from Europe and improving labor conditions in the United States are further helping investor sentiment. Make sure to tune into Money Matters with Gary Goldberg this Saturday at 2 PM and Sunday at 11 AM on WOR 710 AM Radio to hear our complete economic analysis and market commentary. And don’t miss our President, Oliver Pursche, when he joins Liz Claman on Fox Business this coming Tuesday afternoon at 4:00 PM. Visit our website for details. 

Next Week’s Market Moving Events:

  • Monday – Markets are closed in celebration of President’s Day
  • Tuesday – Empire Manufacturing data, Housing Market data, E-Commerce Retail Sales, Good Year Tire and Rubber (GT) and Medtronic (MDT) report
  • Wednesday – Mortgage Applications, Housing Starts, Producer Price Index data, US Redbook report, Industrial Production and the FOMC minutes from the January meeting are released. Duke Energy (DUK), Fluor Corp (FLR) and Priceline (PCLN) report earnings.
  • Thursday – Eurozone Producer Prices, US Jobless Claims, PMI Manufacturing data, Eurozone Consumer Confidence, Philly Fed Survey of economic activity, and Leading Indicators.
  • Friday – Deere (DE) reports earnings, Atlanta Fed Business Inflation Expectations report.

Feb 11

Some good news for investors

Market Recap:

Investors received some good news in the form of good corporate earnings on Tuesday, as Coca Cola (KO) and several other blue-chip companies beat analyst estimates. The DJIA rose 0.79%, while the S&P gained just over 1% as all sectors, except for Energy shares, rose. The U.S. dollar rose slightly against major currencies, while Treasury yields remained relatively steady, and oil prices fell slightly. On a slightly disappointing note, the Small Business Optimism Index fell from its previous month high. The negative sentiment report was more than offset by a very strong JOLTS (Job Openings and Labor Turnover Statistics) report, which showed that there are more than 5 million job openings as of the end of January.


Looking Ahead:

There is a slew of earnings being released on Wednesday morning, so investors should expect a little more volatility. Moreover, investors seem a bit jumpy and nervous ahead of the European / Greek official talks relating to the restructuring of debts. Oil prices continue to fall, albeit only minimally, as increasing supplies continue to plague buyers in the commodity space. Given some of the mixed economic data lately, investors will likely keep a close eye on Thursday’s Retail Sales report, as well as keeping their focus on corporate earnings.

Make sure to tune into Money Matters with Gary Goldberg this Saturday at 2:00 PM and Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest economic analysis and market commentary. Visit www.ggfs.com for details.

Older posts «