The Market with Ozzy
Market Statistics, News, Sectors of S&P 500, Fixed Income, Economic Calendar and more…At the opening bell
S&P futures vs fair value: -11.80 at 907.40. Non farm payrolls continues to contract in June, down 467,000. It surpassed the expectations. The unemployment rate rose to 9.5%, up slightly from the prior reading of 9.4%.
Meanwhile, jobless claims data wasn’t as disappointing as the unemployment situation. New claims in June climbed down to 614,000 from the prior data of 627,000.
Participants reacted to the news. S&P 500 is trying new lows at the pre-market trading, down 14 points at 905.20.
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July 4th Week
S&P futures vs fair value: +3.40 at 917.30. Stocks advanced in the pre-market today. In this short week, markets will be closed on Friday, Monday is lacking economic news. 3-month and 6-month bill auction starts at 1pm. Farm prices at 3pm. That is about it. European markets are all up at this hour, trying their new highs for the day. Bernie Madoff will be sentenced today. All the eyes are now turned to this news, though it won’t have an impact on the market.
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At the opening bell
S&P futures vs fair value: -4 at 916.26. Personal Income, consumer spending and core PCE price index numbers came in-line with the expectations, all up 1.4%, 0.3% and 0.1% respectively. Market reacted to the news, though futures pulled back from their fresh gains at this minute.
Market is about to open in less than a minute. There comes the opening bell. In the first couple of minutes of trading, stocks are trading in a mixed fashion. All the sectors of S&P 500 are now trading with moderate losses. The primary laggard is Energy, down 0.64% at 47.90.
U.S. Dollar is down slightly at 79.80. The index has been under heavy squeeze in a very narrow range for over 3 months now. The index finds support around 79 and sees resistance at 81.
S&P 500 found support at 915 at this minute in the stock exchange. Technology, materials, financials, and industrials are made their way to the green.
Meanwhile Apple Inc. (AAPL, up 0.84% at 141.41 a share) is trying new highs for the day. It is helping the NASDAQ to move upwards from its lows. NASDAQ is now barely in red, down 3 points.
The volume is very low.
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Before the Opening Bell
Stocks are pulling back from their early gains. S&P futures vs fair value: -5.70 at 892.30. Spiders for S&P 500 (SPY) is one of the major laggards at the pre-market trading, down, 0.45%.
Latest GDP data was released today at 8.30 am. First quarter GDP shrank 5.5%, better than the consensus estimation of 5.7%.
Meanwhile, jobless claims numbers came worse than expected, for the second consecutive month, at 627,000, up from the prior numbers of 608,000. Market reacted to the news in the pre-market trading.
European Bourses are under heavy selling pressure today. FTSE, DAX and CAC are all trading with some sufficient losses, down 1.31%, 2.19% and 2.03% respectively.
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Before the Opening Bell
S&P futures vs fair value: +7.10 at 897.30. NASDAQ futures vs fair value: +11.25 at 1435.25.
Stocks are ready for anearly rally when the opening bell rings, in less than 10 minutes.
European and Asian markets are all up, holding on their solid gains. Citigroup Inc. (C) is one of the most active stocks in Frankfurt today, up 0.05 to 2.17 a share.
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The Itinerant Performer: S&P 500
S&p futures vs fair value: +3.80 at 892.40. S&p futures are pointing to a solid start at this hour before the opening bell. European markets are making a comeback today where Asian markets are weakening.
Today, on the economical calendar, the existing home sales report is due at 8.30am. The consensus is expecting a 4.82 million of units to be sold in May.
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Before the Closing Bell
Stocks finally found some support in the past hour of trading. S&P is showing support at 894.06 and resistance at 898. It is stuck in this very narrow range before the closing bell. The selling is broad-based. All the sectors of S&P 500 is now trading with losses. NASDAQ is down 53.46 points at 1774.64, Dow is at 8364.17, down 175 points.
Gold attempts another fresh-low for the day. It is last changed hands at 921.25, down 1.34%.
One one note, S&P 500 is now trading at the 50 and 200-day moving average level. Some technical analysts were expecting that downward movement. (S&P pulled back from its fresh year-highs in the past 8 days of trading.
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Update
S&P just went below 900 level at this hour of trading. S&P 500 hasn’t been under the 900 level since May 28. The broad selling pressure is still on going. Utilities just fell into the red territory, down 0.18% at 27.42.
30-year treasury yield is down 8 ticks at 4.43%.
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Opening Bell
S&p is trying new lows for the day. It has come to the critical level of 900, though found some support at 903.23. Except utilities, all the remaining sector’s of S&P is in red. Energy sector is still the main laggard at the stock exchange, down 3.94%. Materials shed 2.84%.
Dollar is trading slightly higher today, last quoted at 80.66, up 0.4%
Gold and Silver are trading with some losses today as well, $920.70 an ounce, down 1.4% and $13.81 an ounce, down, 2.68% respectively.
Crude oil got its share from the selling pressure also. It is now at 67.37 a barrel, down 3.13%.
It is a choppy Monday. The volume is quite low at the exchange today. 67 stocks advanced, 433 declined at S&P 500.
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Before the Opening Bell
S&P futures vs fair value: -9.00 at 906.7. Stocks are off to a lower start this Monday. The selling pressure comes from the European bourses, all trading with some moderate losses. FTSE is at 4287.12, down 1.35%, DAX is at 4756.48, shed 1.71% and CAC is at 3162.77, slid 1.82%.
There is no economical news today, however there are a number of important news coming out this week. Durable goods orders and FOMC meeting announcement are on Wednesday, GDP on Thursday and finally personal income and outlays on Friday.
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The Market with Ozzy 