The Market with Ozzy
Market Statistics, News, Sectors of S&P 500, Fixed Income, Economic Calendar and more…Archive for Economic Calendar
Opening Bell
Stocks started to trade Wednesday with a mixed fashion. S&P is now trading at 912.43, up 0.46 points. CPI, Consumer Price Index, data was re;eased earlier in the morning. It came in-line with the expectations, up 0.1%. Although energy costs were up, it wasn’t as nearly high as it was expected. The food prices were down 0.1% which helped balanced the higher energy costs.
European bourses are having another busy selling day. FTSE, DAX and CAC are all down, 0.93%, 1.15% and 1.24% respectively.
Crude oil slid under $70 a barrel.
Meanwhile, S&P is oversold, currently at 28.68% below the critical value of 30.
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Early Tuesday
Industrial production data came almost in-line with the expectations. The production declined 0.5% in April. Overall capacity is now at 69.1% from 69.4% in March. This was expected, though. With Chrysler and General Motor’s bankruptcies, wee might see another decline in the following IP data.
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Update
Consumer sentiment index data was released a minute ago. The number came to 69.0 which is in-line with the expectations.
At this minute, stocks are under heavy selling pressure. S&P is trying to find a bottom for the day, last changed hands at 937.86.
Before the Opening Bell
Import and export prices data just got released. Import prices M/M change came in line with the expectations. It grew 1.3%. Export prices grew as well, up 0.6%.
Before the Closing Bell
May Treasury deficit came worst than expected. The deficit is now at $189.7 billion, quite bigger than the preceding deficit of $28.6 billion. Market did not seem to react to the news. S&P 500 is now at 932.98.
Update
Stocks are hitting their fresh-lows. S&P 500 is now at the session low of 930.92. At 1pm, comes the 10-year note auction followed by the treasury budget at 2pm.
Tomorrow, we have the jobless claims and the retail sales, both released at 8.30am. The consensus is positive for retail sales. It is 0.6. We had a slight decline of 0.4 in April.
Although Gold is pulling up from the early losses, it is still trading in red. Silver, on the other hand is touching new lows of the day, last quoted 15.12, down 0.66%.
At the Opening Bell
Futures are pulling back from their fresh gains however, still manged to trade in green. European and Asian bourses are all up.
FTSE 100 up 1.66% at 4478, DAX up 2.03% at 5099.35, CAC 40 up 1.55% at 3347.90 HANG SENG up 4.03% at 18785.66, Nikkei 225 up 2.09% at 9991.49.
Meanwhile, MBA purchase application data, which publishes a weekly survey that covers 50% of all residential mortgage, is showing that the Market Composite Index is down 7.2 % at 611.0. The index is a measure of mortgage loan application volume. The Refinance Index also decreased 11.8 % to 2605.7. The average rate for a 30-year fixed rate mortgage went up 5.57% while the application volume increased 1.12%.
Futures vs Fair Value
S&P futures vs fair value: +11.70 at 951.30. NASDAQ +11.75 at 1512.50. The futures are showing an impressive movement in the pre-market on Wednesday.
The U.S. international trade gap widened in March from $26.1 billion deficit to $27.6 billion deficit. The cause was not due to the rising imports but deteriorating exports, down 2.4%. Imports slid as well, down 1%.
We will see a movement in the U.S. Dollar today since it is very sensitive to changes in the trade.
The markets are trying fresh-lows of the day. S&P 500 is at 937.60. There seems to be no sector leading the markets today. Materials and Energy are the only sectors of S&P that are in green, 0.47% and 0.33% respectively. It is a choppy session.
The monthly wholesale trade sales and inventories data came out at 10am. The April 2009 sales of merchant wholesalers, were down 0.4% at $309.4 billion from the revised March data. Total inventories of merchant wholesalers were $405.4 billion, down 1.4$ from the March level according to the U.S. census Bureau.
Calendar of Events
The International Council of Shopping Centers and Goldman Sachs (ICSC-Goldman) store sales, which represents 75 retail chain store sales, rose 0.2pct last week.
On the other hand, Redbook data was disappointing. The report showed a sharp decrease of sales at chain stores in the first week of June, down 4.3% comparing the last full month of May.
According to Bloomberg, Redbook is a less consistent measure of retail sales than ISCS-Goldman.
