Feb

12

Daily Market Wrap 12FEB08

February 12, 2008 | 5 Comments

Key economic data: retail sales for the week up 0.6% Y/Y

Key market moves: Dow up 1.1%, S&P up 0.75%, Nasdaq unchanged; oil down 81 cents to $92.78; gold down $15 to $911; lumber down 2.3% to 228

Commentary: As far as the equity markets go, we’re still just sort of sputtering along with modest volume and a tendency to sell rallies. Looking at the internals and the slow drift downward in the VIX, there are definitely some positive signs out […]

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Feb

7

Daily Market Wrap 07FEB08

February 7, 2008 | 1 Comment

Key economic data: Bank of England cuts rates 25 basis points to 5.25%; ECB keeps rates at 4%, signals possible future easing; jobless claims 358k vs. 343k est; pending home sales index down 1.5% M/M; natgas inventories decline 200 Bcf, in line with 5 yr avg; consumer credit increases $4.5B in Dec, less than $7.5B est

Key market moves: indices end with modest 0.6% gains; long bond yields rocket, 10 year jumps 12 basis point to 3.74% after tepid demand for […]

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Feb

5

Daily Market Wrap 05FEB08

February 5, 2008 | 1 Comment

Key economic data: ISM services index 41.9 vs. 53 est

Key market moves: all major indices plunge 3%; oil down $1.60 to $88.41; gold down $20 to $890; sugar down 2.4% to 11.88

Commentary: You know, that had to be the least scary 3% down day I’ve seen in my trading career. Perhaps it was the fact that the intraday swing was not as large as we’d seen in the past, but it seemed like investors took a collective yawn […]

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Feb

1

Daily Market Wrap 01FEB08

February 1, 2008 | Leave a Comment

Key economic data: Jan employment shows -17k jobs vs. 58k est, avg hourly earnings 0.2% M/M vs 0.3% est, unemployment ticked down to 4.9%, avg workweek 33.7 hrs vs. 33.8 hrs est; ISM manufacturing 50.7 vs. 47 est; construction spending -1.1%

Key market moves: Dow up 0.7%, Nasdaq up 1%, S&P up 1.2%; oil down almost $3 to close at $88.96; gold down $15 to $912; gasoline down 3% to 2.28; palladium up 5% to 414, aluminum down 2% to 1.16; […]

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Jan

31

Daily Market Wrap 31JAN08

January 31, 2008 | 2 Comments

Key economic data: Personal income up 0.5% M/M, spending up 0.1%, both 0.1% ahead of expectations; jobless claims 375k vs 318k est; NAPM Chicago 51.5 vs. 52 expected; employment cost index up 0.8% Q/Q natgas inventories -274Bcf

Key market moves: major indices move 1.7% higher on substantive volume; 10 year yield sinks 9 basis points to 3.64% but 30 year yields barely budge, yield curve gets steeper; oil down 58 cents to $91.75; gold up $2 to $928;

Commentary: Well, I […]

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Jan

31

Daily Market Wrap 30JAN08

January 31, 2008 | 2 Comments

Key economic data: Fed cuts rates 50 basis points, fed funds rate now at 3%; ADP employment survey shows 130k jobs added in the private sector in Jan; preliminary GDP up 0.6% for Q4, vs. 1.2% est; price index up 2.6% vs. 2.5% est; oil inventories up 3.6 million barrels

Key market moves: major indices lose a third of a percent after giving up gains in the last hour; oil closes up 11 cents to $91.75; gold sheds $4.50 to […]

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Jan

29

Daily Market Wrap 29JAN07

January 29, 2008 | Leave a Comment

Key economic data: durable goods much stronger than expected, up 5.2% M/M vs. 1.6% est; weekly retail sales up 0.4% Y/Y, consumer confidence drops to 87.9, slightly better than 87.5 est

Key market moves: markets up modestly, with Dow leading the way to a 0.8% gain, S&P up 0.6%, Nasdaq up 0.4%; ten yr treasury yields jump 7 basis pts to 3.66%; gold closes at $930, more or less unchanged from last night; oil up 65 cents to $91.64; aluminum […]

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Jan

28

Daily Market Wrap 28JAN08

January 28, 2008 | Leave a Comment

Key economic data: new home sales 604k vs. 645k

Key market moves: major indices up, S&P up 1.75%, Dow up 1.5%, Nasdaq up 1%; oil up modestly to close at $91; gold soars $16 to new record, closes above $927; natgas up 1.2% to 8.08; pork bellies up 2.8% to 88.25, lean hogs up 1.9% to 57.25; sugar up 4% to $12.42

Commentary: Every since the turn, this market continues to perform very well. Market internals have been strong, and […]

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Jan

24

Daily Market Wrap 24JAN08

January 24, 2008 | 1 Comment

Key economic data: jobless claims 301k vs. 321k est; existing home sales 4.89M vs. 4.95M, inventories of unsold homes falls 7.1%; natgas inventories -155 Bcf; oil inventories +2.3M barrels

Key market moves: Nasdaq surges 1.9% on heavy volume, Dow and S&P add 1% on top of yesterday’s gains; 10 year treasury yield jumps 21 basis points to 3.64%; oil jumps $2.42 to close well above $89; gold jumps $24 to $907; platinum up 3.6% to $1614, copper up 3.5% to $3.17; […]

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Jan

23

Daily Market Wrap 23JAN08

January 23, 2008 | Leave a Comment

Key economic data: retail sales up 0.7% Y/Y

Key market moves: sharp decline at the open reversed to end with huge gains, Dow up 2.5%, S&P up 2.2%, Nasdaq up 1%; 10 year treasury yield down 0.6% to 3.43%, paring big early gains; oil down $2 to $87; gold down $7 to $883; corn down 4% to 469.25, soybeans down 4% to 1189, cotton down 4% to 67.05, sugar down another 2.3% to 11.29; bond insurers surge following talks of […]

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