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Rally Remains on a Plethora of Positive U.S. Data

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        The U.S. equity markets are modestly adding to their recent rally on the heels of a plethora of stronger-than-expected domestic economic data, highlighted by existing home sales and jobless claims. However, the advance is possibly being held in check following yesterday's slightly more hawkish meeting minutes from the Federal Reserve's July meeting, while the Central Bank is beginning its annual Jackson Hole Symposium. Treasuries are slightly higher and crude oil prices are mixed, while gold and the U.S. dollar are lower. In equity news, Hewlett-Packard … [Read more...]

Markets Able to Battle Back From Fed Tumble

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      U.S equities were able to recoup most of the lost ground that came following the release of the minutes from the Federal Reserve's July meeting that roused the possibility that monetary policy stimulus may end sooner than some had expected. The report came on the eve of the Federal Reserve's multi-day Jackson Hole Symposium, which could draw even more attention for any clues to the timing of the first rate hike given the backdrop of the Fed minutes. On the equity front, Target missed analysts' forecasts and lowered its full-year earnings outlook, but some upbeat … [Read more...]

Upward Momentum Remains as Housing Data Pleases

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    The domestic equity markets are adding onto yesterday's solid gains in late-morning action, as a continued cooling of geopolitical concerns is being accompanied by some favorable reports out of the housing sector. Dow member Home Depot posted stronger-than-expected quarterly results and lifted its full-year profit outlook, while on the economic front, July domestic housing starts and building permits both rose more than expected. Treasuries are nearly unchanged following the housing data, while a separate report showed U.S. consumer price inflation matched expectations. In … [Read more...]

Equities Gaining Ground, Aided by Upbeat Housing Report

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      The U.S. equity markets are higher in late-morning action as eased geopolitical concerns are being accompanied by an unexpected improvement in domestic homebuilder sentiment. Meanwhile, reads on U.S. housing sales and construction, as well as inflation are slated for later this week. Moreover, the Federal Reserve is poised to be a focal point during the week, as it will deliver its July meeting minutes and begin its Jackson Hole Economic Summit. Treasuries are moving lower amid to gains for stocks, along with gold and crude oil prices, while the U.S. dollar is … [Read more...]

Stocks Victimized by Geopolitical Risk

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      Although off of the lows, the U.S. equity markets remain lower in afternoon action after reversing to the downside amid reports that Ukrainian artillery destroyed a significant portion of a column of Russian armored vehicles that crossed the Ukraine border overnight. Gold and the U.S. dollar are lower, while Treasuries and crude oil prices are solidly higher. Stocks gave up early gains that came from a plethora of U.S. economic data which further cooled concerns about a sooner-than-expected Fed rate hike. Producer price inflation rose as expected, consumer sentiment … [Read more...]

Equity Markets Standing Up to Disappointing Data

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        The domestic equity markets are moving higher in afternoon action, as a softer-than-anticipated read on U.S. July retail sales, which followed disappointing reports from China and the eurozone, appears to be easing concerns about a sooner-than-expected Fed rate hike. Also, stocks are showing some resiliency in the face of lackluster results from the earnings calendar, with lowered outlooks coming from Deere & Co, Macy's, and King Digital Entertainment. Treasuries are moving higher on the heels of the retail sales report, along with a decline in … [Read more...]

Geopolitical Effect Worries Temper Stocks

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    Despite an ebbing in geopolitical tensions, concerns over the global economic impact of such appear to have kept sentiment in check in today's action, with stocks ending modestly lower, and as only token news from both the economic and earnings fronts were unable to add any spark. A lackluster read on German investor confidence added to the negative tone, adding to the worries about the effect of the Ukrainian turmoil on the eurozone's largest economy. In equity news, Scotts Miracle-Gro announced a special dividend and new share repurchase program and Intercept … [Read more...]

Gains in Spite of Continued Geopolitical Unrest

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    In the face of elevated geopolitical uneasiness with the U.S. launching targeted airstrikes in Iraq and bombing in Gaza resuming, the U.S equity markets showed remarkable resiliency to finish the week in positive territory and at the highs of the day. Reports out of Russia suggesting the country could be seeking to de-escalate the conflict in Ukraine may have played a part in the market's durability. Meanwhile, Treasuries finished nearly flat, as the intensified geopolitical concerns overshadowed domestic reports from the economic calendar that showed 2Q productivity and … [Read more...]

2Q GDP Report Lifting Stocks

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      The domestic equity markets are rebounding from yesterday's late-day slide as Russia was slapped with further sanctions from the West, aided by a stronger-than-expected rebound in 2Q U.S. GDP output. Meanwhile, traders are awaiting this afternoon's monetary policy decision from the Federal Reserve. In other U.S. economic news, ADP reported a smaller-than-anticipated rise in private sector job growth, while mortgage applications declined. In earnings news, Dow member American Express topped the Street's earnings expectations and Express Scripts bested quarterly … [Read more...]

Equities Pare Gains as EU Agrees to Further Russian Sanctions

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      The U.S. equity markets have pared gains but remain modestly higher in afternoon action, with exacerbated geopolitical concerns as the European Union agreed to impose further sanctions on Russia partially offsetting some upbeat earnings and economic data. Dow member Merck & Co topped the Street's quarterly expectations, while U.S. Consumer Confidence jumped to the highest level since October 2007. Meanwhile, traders are awaiting tomorrow's monetary policy decision from the Fed, along with the first read on 2Q U.S. GDP. Treasuries are mixed, with a separate … [Read more...]