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Gold back below $1,300 as Yellen looms
SAN FRANCISCO (MarketWatch) — Gold took a hit on Monday, dipping back below $1,300 an ounce, as investors kept one eye on what’s going on in geopolitical hotspots and the other looking ahead to what Federal Reserve Chairwoman Janet Yellen might say at the end of the week. http://www.marketwatch.com/story/gold-back-below-1300-as-yellen-looms-2014-08-18
Home-builder confidence highest in 7 months
WASHINGTON (MarketWatch) — A gauge of confidence among home builders is the highest in seven months, with readings showing growing optimism about present and coming sales of single-family homes, according to data released Monday. http://www.marketwatch.com/story/home-builder-confidence-highest-in-7-months-2014-08-18?link=MW_home_latest_news
U.S. stocks: S&P 500 gains as Russia-Ukraine tensions ebb
NEW YORK (MarketWatch) — U.S. stocks built on last week’s advance, helped by waning Ukraine-Russia tensions and deal news.
Investors also looked for a fresh reading on the housing market due at 10 a.m. Eastern Time, as that report kicks off a big week for economic news.
The S&P 500 SPX, +0.54% rose 10 points, or 0.5%, to 1,965 early Monday, adding to its 1.2% weekly gain last week. The Dow Jones Industrial Average DJIA, +0.64% jumped 93 points, or 0.6%, to 16,756, while the Nasdaq Composite COMP, +0.51% climbed 25 points, or 0.6%, to 4,490.
“Wall Street is once again coming up to tackle technical resistance, but with the momentum built up over the last week, conversations are likely to turn towards when, not if, it can tackle the 17,000 level again,” said Alastair McCaig, market analyst at IG, in a note. http://www.marketwatch.com/story/market-snapshot-futures-up-as-russia-ukraine-tensions-ebb-2014-08-18
Why this is the week traders have been waiting for
Fed has a lesson plan, but traders just want facts
Markets are more likely to get a schooling on the labor market than a road map for rate hikes when the Fed meets in Jackson Hole in the week ahead.
The annual Fed symposium is a highlight of the summer, and has been widely anticipated as an event where Fed Chair Janet Yellen may disclose some hints about the process to normalize rates when she speaks Friday.
The symposium is titled, "Reevaluating Labor Market Dynamics," and Fed watchers expect to hear more about the ongoing debate within the Fed on labor slack. They also say Jackson Hole may have a limited impact on markets and the release of Fed minutes two daysearlier may be even more market moving if there is any discussion of operations the Fed might use after its quantitative easing program ends.
"I think there are great expectations about what might come out of this ... In recent years, Jackson Hole has been the spring board to policy changes," said Ward McCarthy, chief financial economist at Jefferies. http://www.cnbc.com/id/101924025
Gold cuts losses on Ukraine; holds near $1,300
Gold recovered modestly on Monday to trade just above $1,300 an ounce as escalating tensions in Ukraine sapped risk appetite, hurting stocks and bidding up safe-haven assets. http://www.cnbc.com/id/101925684
U.S. retail sales clues may surface from Li & Fung
One of the world's largest supply-chain middlemen, Li & Fung Ltd. is set to offer clues about the U.S. retail sector's health when the supplier to chains such as Target Corp. and Wal-Mart Stores Inc. reports first-half earnings on Thursday. http://www.marketwatch.com/story/us-retail-sales-clues-may-surface-from-li-fung-2014-08-17
Big investors dump GM, but love Ally
NEW YORK (MarketWatch)—Big investors fell out of love with General Motors in the second quarter but hedge-fund titans including Dan Loeb rushed to snap up shares of Ally Financial, the troubled auto maker’s former financing arm that was rescued by the U.S. government, according to an analysis of freshly-filed regulatory documents. http://www.marketwatch.com/story/big-investors-dump-gm-but-love-ally-2014-08-15
Experts: Record Cold Summer Leads To Changing Leaves In August http://pittsburgh.cbslocal.com/2014/08/15/experts-cold-summer-leads-to-changing-leaves-in-august/
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Gold recovers somewhat on Ukraine woes; ends lower
Gold ended lower on Friday, but it managed to inch up from session lows after reports that Ukraine forces had engaged an Russian armored column on Ukrainian soil boosted the metal's safe-haven appeal. http://www.cnbc.com/id/101921525
Stocks trim Ukraine-inspired fall, post weekly gain
Industrial production rises, but consumer sentiment dips
NEW YORK (MarketWatch) — Stocks ended mixed Friday, trimming or erasing losses after falling on news of a clash between Ukrainian and Russian military units on Ukraine soil. Major indexes posted weekly gains despite the late flight out of riskier assets into Treasurys. http://www.marketwatch.com/story/us-stocks-futures-up-consumers-may-be-in-better-mood-2014-08-15?link=MW_home_latest_news
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U.S. stocks turn south as Ukraine conflict escalates
Industrial production rises, but consumer sentiment dips
NEW YORK (MarketWatch) — The U.S. stock market reversed gains and fell, as news of Russian troops fighting Ukrainian military pushed investors out of riskier assets and into Treasurys on Friday.
The 10-year Treasury note yield fell 6 basis points to 2.3%, while gold futures trimmed earlier losses. Friday’s losses on the main benchmarks put a cap on weekly gains. http://www.marketwatch.com/story/us-stocks-futures-up-consumers-may-be-in-better-mood-2014-08-15
Gold back below $1,300 on weak demand
NEW YORK (MarketWatch) — Gold futures dropped sharply Friday, putting the precious metal on track for a weekly loss, as weak physical demand trumped any haven-related boost from geopolitical turmoil in the Middle East and Ukraine.
December gold futures (CNS:GCZ4) fell $19.90, or 1.5%, to $1,295.90 an ounce an ounce. September silver (CNS:SIU4) lost nearly 34 cents, or 1.7%, to trade at $19.58 an ounce. http://www.marketwatch.com/story/gold-back-below-1300-on-weak-demand-2014-08-15
hey GM, np. We just need rain down here. At least in my yard. Leaves already changing its been so dry
Early movers: KO, MNST, EBAY, S, JCP, ATVI & more
http://www.cnbc.com/id/101922647
Consumer sentiment likely recovered this month
It’s likely that a Friday report will show consumers perked up this month, supported by solid jobs news and lower gas prices, according to a consensus forecast.
Economists polled by MarketWatch are looking for a preliminary August reading for the consumer-sentiment gauge of 82.3, up half a point from a final July result of 81.8. The index had dropped 0.7 point in July. For context, the gauge from the University of Michigan/Thomson Reuters averaged 86.9 over the year leading up to the recession that began in December 2007.
While most economists do think consumers are in a better mood this month, a volatile stock market as well as international tensions could weigh on sentiment. Analysts watch sentiment levels to get a feeling for the direction of consumer spending, which is the backbone of the U.S. economy. A report released earlier this week signaled that spending in retail stores has been weak in recent months.
The sentiment-gauge will be released at 9:55 a.m. Eastern.
Ahead of that report is fresh data on manufacturing trends, and economists are looking for the Federal Reserve Bank of New York to report a gauge of regional manufacturers’ views on business conditions pulled back this month to 20 after hitting a more-than-four-year high of 25.6 in July. Readings above zero indicate that more respondents said business conditions are “higher” than the number that said they’re “lower.” The Empire State Manufacturing Survey will be released at 8:30 a.m.
At 9:15 a.m. the Federal Reserve will release its monthly snapshot of industrial production and capacity utilization, and economists expect to see slight increase for both measures in July.
Elsewhere Friday morning, the U.S. Labor Department will report on producer prices. Economists expect to see this gauge show wholesale inflation slowed to a gain of 0.1% in July, compared with an 0.4% increase in June. Some increases for producer prices will eventually be passed along to consumers.
U.S. stocks: Futures up; consumers may be in better mood
Monster Beverage lights up
LONDON (MarketWatch) — U.S. stock futures indicated a positive start for Wall Street on Friday, with investors likely to be handed figures showing the mood of U.S. consumers has brightened.
Alongside the plateful of economic data, a speech by Federal Reserve Bank of Minneapolis President Narayana Kocherlakota will also be watched by investors.
Futures for the Dow Jones Industrial Average (CBE:DJU4) rose 43 points, or 0.3%, to 16,725, while those for the S&P 500 index (GLC:SPU4) picked up 4 points to 1,957. Futures for the Nasdaq 100 index (GLC:NDU4) rose 11.50 points, or 0.3%, to 3,979.50.
A reading on consumer sentiment from the University of Michigan/Thomson Reuters is due at 9:55 a.m. Eastern Time. The mood is expected to have improved in August; economists polled by MarketWatch expect a preliminary reading of 82.3, compared with 81.8 in July. Analysts look at sentiment surveys to get a feel for the direction of consumer spending, the key driver of the U.S. economy.
“Recent stock gains and the steady weekly decline in gasoline prices at the pump likely buoyed August sentiment,” wrote Crédit Agricole’s chief economist for North America Michael Carey.
The Federal Reserve’s July report on industrial production and capacity utilization is due at 9:15 a.m. Eastern Time. Economists project slight increases for each measure, with industrial production likely to increase a seasonally adjusted 0.3%.
The Empire State Manufacturing Survey will provide fresh data on manufacturing trends, and will be released at 8:30 a.m. At the same time, the U.S. Labor Department will report on July producer prices. http://www.marketwatch.com/story/us-stocks-futures-up-consumers-may-be-in-better-mood-2014-08-15
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http://www.cnbc.com/id/101921326
U.S. stocks rise modestly; Berkshire tops $200K
Tesla closes at record for fourth straight session
NEW YORK (MarketWatch) — U.S. stocks ended Thursday modestly higher, as softer-than-expected economic data reinforced speculation that the Federal Reserve won’t rush to raise interest rates.
Investors shrugged off a larger-than-expected jump in jobless claims and mixed earnings from Wal-Mart Stores Inc. and Kohl’s Corp.
The S&P 500 (SNC:SPX) closed up 8.46 points, or 0.4%, at 1,955.18, with health-care stocks leading the gains. The Dow Jones Industrial Average (DJI:DJIA) gained 61.78 points, or 0.4%, to 16,713.58. The Nasdaq Composite (NASDAQ:COMP) rose 18.88 points, or 0.4%, to 4,453.00.
Dow industrials component Wal-Mart (NYSE:WMT) lowered its full-year earnings forecast, while second-quarter operating profit met analyst expectations and sales topped those views. http://www.marketwatch.com/story/us-stocks-futures-edge-up-with-wal-mart-results-on-deck-2014-08-14
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Retail investors have a happy morning
Retail stocks rise on second-quarter earnings reports
Retail stocks showed strength early Thursday, as second-quarter earnings reports overshadowed the previous day’s weak retail sales numbers for July.
The July report showed a slowing growth rate for sales, which were up only slightly from June, with growth at its slowest pace in six months. But one preliminary report does not make a trend, and investors today are focusing on actual results, not estimates.
Here’s a summary of the results from major retailers reporting results on Thursday: http://www.marketwatch.com/story/retail-investors-have-a-happy-morning-2014-08-14?link=MW_story_latest_news
U.S. stocks open higher; Wal-Mart cuts outlook
NEW YORK (MarketWatch) — U.S. stocks opened slightly higher on Thursday, but gains were capped by a larger-than-expected jump in jobless claims and a cut in outlook by Wal-Mart, the world’s largest retail chain.
The S&P 500 (SNC:SPX) opened up 3 points, or 0.2%, at 1,950.50. The Dow Jones Industrial Average (DJI:DJIA) was up 23 points, or 0.2%, at 16,676.33. The Nasdaq Composite (NASDAQ:COMP) began the up 5 points, or 0.1% at 4,439.33.
The retail sector was in focus, as Dow industrials component Wal-Mart Stores (NYSE:WMT) lowered its earnings forecast. Second-quarter operating profit of $1.21 a share met analyst expectations, and sales of $119.34 billion were above expectations. Wal-Mart shares fell 0.6%.
Department-store operator Kohl’s (NYSE:KSS) posted slightly improved second-quarter earnings from a year ago, despite a decline in sales. Same-stores sales turned positive in July. Shares were up 2.4%.
After Thursday’s closing bell, embattled retailer J.C. Penney (NYSE:JCP) is projected to report a narrower second-quarter loss of 91 cents a share. http://www.marketwatch.com/story/us-stocks-futures-edge-up-with-wal-mart-results-on-deck-2014-08-14
Gold demand sinks 16% year-on-year in Q2
Global gold demand declined sharply in the second quarter as prices steadied following exceptional circumstances in the same period of last year, according to the latest World Gold Council (WGC) report.
Bullion demand stood at 964 tons in the second quarter, down 16 percent on year, when demand totaled 1,148.3 tons, the report published Thursday found. http://www.cnbc.com/id/101918881
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U.S. stocks: Futures edge up with Wal-Mart results on deck
Jobless claims due
LONDON (MarketWatch) — U.S. stocks futures edged up Thursday, before the release of a weekly update on the labor market and quarterly figures from retailing heavyweight Wal-Mart Stores Inc.
Futures for the Dow Jones Industrial Average (CBE:DJU4) rose 7 points to 16,626, while those for the S&P 500 index (GLC:SPU4) (GLC:SPU4) picked up 1.5 points, or 0.1%, to 1,946.50. Futures for the Nasdaq 100 index (GLC:NDU4) rose 4.5 points, or 0.1%, to 3,950.50.
The retail sector will be in focus, with Dow industrials component Wal-Mart (NYSE:WMT) due to release second-quarter results before the market opens. Analysts surveyed by FactSet expect earnings of $1.21 a share, down from $1.24 a share a year ago.
“Given our observation of an increased number of clearance zones at numerous stores, and rising amounts of excess seasonal goods on markdown as the second quarter moved along, Wal-Mart is at risk of missing second-quarter consensus earnings per share forecasts,” wrote Brian Sozzi, chief equities strategist at Belus Capital Advisors, in a report earlier this week.
He noted the consensus estimate for earnings are “oddly” near the upper-end of Wal-Mart’s own projection of $1.15 to $1.25 a share. http://www.marketwatch.com/story/us-stocks-futures-edge-up-with-wal-mart-results-on-deck-2014-08-14
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U.S. stocks close up; biotechs rally
NEW YORK (MarketWatch) — The U.S. stock market closed with modest gains on Wednesday, led by advances in the health-care and technology sectors.
The main benchmarks gained in the three of the past four sessions, bouncing off the lows reached last week.
Gains on the Nasdaq Composite were led by biotechnology companies, with the iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) up 2.2%. The Nasdaq Composite (NASDAQ:COMP) added 44.87 points, or 1%, to 4,434.13.
The Dow Jones Industrial Average (DJI:DJIA) added 91.26 points, or 0.6%, to 16,651.80.
The S&P 500 (SNC:SPX) climbed 12.97 points, or 0.7%, to 1,946.72. Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) led gainers.
Even consumer plays nudged higher, despite softer-than-expected retail sales data as well as disappointing quarterly results from retailers such as Macy’s Inc. and Fossil Group Inc.
Michael Arone, managing director at State Street Global Advisors, said the day’s economic data were positive enough to indicate that consumers are still spending, but not strong enough for the Federal Reserve raise rates sooner than currently anticipated.
Looking more broadly at the markets and the S&P 500’s recent drop of nearly 4% from its peak, Arone said pullbacks historically have tended to be shorter and shallower when price-to-earnings ratios are rising.
“Benign inflation and a stronger dollar mean that the U.S. economy and company earnings will continue to grow. This is a positive environment for the stock markets,” he added.
Sales at U.S. retailers were unchanged in July, the weakest result in six months, as sales fell at auto dealers, but rose at gas stations and food and beverage stores, according to government data released Wednesday. Separately, business inventories rose in June by more than expected.
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Jobless claims seen reversing recent weekly drop
It’s likely that a Thursday report will show that initial jobless claims rose in the most recent weekly data, reversing most of the drop from the prior weekly period, according to a consensus forecast.
Economists polled by MarketWatch expect the government to report that initial jobless claims rose 11,000 to 300,000 in the week that ended Aug. 9, offsetting most of the 14,000 drop in the prior week. Even including the expected increase, initial claims for regular state unemployment-insurance benefits would still be at an extremely low level, close to pre-recession figures, signaling that employers are laying off very few workers.
Low claims levels echo other data demonstrating that the U.S. labor market is strengthening. Reports earlier this week showed that job openings recently hit the highest level since 2001, competition for spots is dropping, and that even hard-hit groups are having an easier time in the labor market.
The U.S. Labor Department will release the claims data at 8:30 a.m. Eastern.
Also at 8:30 a.m., the Labor Department will report on import prices for July, and economists expect a 0.3% drop, compared with growth of 0.1% in June.