Morning Outlook

Futures rose slightly on Wall Street Friday following a nice red to green reversal into the close yesterday. Traders await further economic data this morning to help push these major averages past 15 month highs, Retail sales, consumer sentiment and business inventories all major components of GDP will give the market further direction. The strong late buying Thursday is a good indication of where the market wants to go. So far in futures trading, Dow Jones industrial average futures gained 13, or 0.1 percent, to 10,631. Standard & Poor’s 500 index futures rose 1.60, or 0.2 percent, to 1,147.50, while Nasdaq 100 index futures edged up 2.00, or 0.1 percent, to 1,924.50.

The weak dollar is helping energy and other mining/raw material sectors, which could give the market a leg up as financials have led the rally this week. On Thursday, the blue chips rose 44.51, or 0.4 percent, to 10,611.84. The S&P 500 index advanced 4.63, or 0.4 percent, to 1,150.24, while the Nasdaq advanced for the 6th consecutive session, rising 9.51, or 0.4 percent, to 2,368.46

Currencies and Commodities

The dollar fell 0.0751% at 90.441 yen in the currency market. The euro appreciated 0.6629% to $1.3772 while the pound gained 0.6865% to $1.5165. Gold climbed $8.20 to $1116.40 an ounce, while silver advanced 0.82% at $17.30. Light, sweet crude for April delivery rose 57 cents to $82.68 per barrel on the NYMEX; a 0.69% move up following the weaker greenback and increased OPEC demand forecast.

Economic Calendar

8:30 AM
Retail Sales: measure the total receipts at stores that sell durable and nondurable goods. Consumer spending accounts for two-thirds of GDP and is therefore a key element in economic growth. The consensus is for a 0.2% decrease in the month of February despite better than expected same store sales data. That figure is down from an increase of 0.5% in January. The consensus range falls as low as -0.8%. and upwards of 0.3%.

9:55 AM
Consumer Sentiment: Consumer sentiment is directly related to the strength of consumer spending, by questioning 500 households each month on their financial conditions and attitudes about the economy. The consensus reading for March is 74, up from the prior reading of 73.6 for February. Trending higher jobless claims and rising energy costs are likely to depress the reading for the time being.

10:00 AM
Business Inventories: The dollar amount of inventories held by manufacturers, wholesalers, and retailers. The consensus is for a gain in January of 0.2%. In December, inventories fell by 0.2%.; led by a 0.8% drop in wholesale inventories.

Financials and tech led major averages higher on Tuesday, and as a result the Dow was the worst performer considering the composit of the 30 stocks. The blue chips rose 2.95, or less than 0.1 percent, to 10,567.33, while the S&P 500 index gained 5.16, or 0.5 percent, to 1,145.61. The tech heavy Nasdaq climbed 18.27, or 0.8 percent, to 2,358.95.

Morning Outlook

Futures are heading slightly lower in the premarket Thursday as the street awaits trade and jobless claims data. With the reports due to roll out in about half an hour, Dow Jones industrial average futures fell 18 points, or 0.2 percent, to 10,547. Standard & Poor’s 500 index futures declined 3.40, or 0.3 percent, to 1,142.30, while Nasdaq 100 index futures lost 1.25, or 0.1 percent, to 1,917.50.

We would love to see a really good number on the claims front, something to shock the market and give a sense that jobs are being created. The trade figures could move the dollar, but at the same time spot the jobless claims are the bigger deal .

Currencies and Commodities

The dollar rose 0.1489% at 90.65 yen in the currency market. The euro appreciated 0.015% to $1.366 while the pound gained 0.4473% to $1.5044. Gold fell $1.60 to $1106.50 an ounce, while silver lost 26 basis points at $16.97. Light, sweet crude for April delivery was hovering around flat at $82 per barrel.

Economic Calendar

8:30 AM
International Trade: Measures the difference between imports and exports of both tangible goods and services. Imports may act as a drag on domestic growth and they may also increase competitive pressures on domestic producers. Exports boost domestic production. We have had huge trade deficits in recent years, with foreign countries able to produce goods cheaper. The trade gap is expected to widen to $41 billion in January to after rising nearly $ 4 billion to $40.2 billion in December on increased petroleum imports. Exports have risen for 8 consecutive months.

8:30 AM
Jobless Claims: New unemployment claims for the week of March 6th , to show the number of individuals who filed for unemployment insurance for the first time. The fewer people filing for unemployment benefits, the more have jobs, the more income in the consumer’s pocket, as well as a forecast on the strength of the economy. The consensus is for an increase of 460,000 for first time jobless claims, down from last week’s reading of 469,000. Following last weeks 29,000 decline, the four week average fell 3,500 to 470,750.

Major averages finished mixed on Monday on low volume and little volatility. The Dow Jones industrial average lost 13.68, or 0.1 percent, to 10,552.52. The Standard & Poor’s 500 ended its 6 session winning streak after closing down 0.20, or less than 0.1 percent, to 1,138.50. Tech led the Nasdaq to its highest levels since the fall of Lehman Brothers, rising 5.86, or 0.3 percent, to 2,332.21. Small caps performed nicely as the Russell 2000 gained 1.09, or 0.2 percent, to 667.11.

Morning Outlook

Wow, what another quiet day on the street. Futures are heading lower in premarket trading, but if you consider where we are versus one year ago we aren’t doing too bad! Today is March 9th, which happens to be the anniversary of March 9th, 2009 when the market closed at its lowest point during this Great Recession. Dow Jones industrial average futures are down 35 points, or 0.3 percent, to 10,503. Standard & Poor’s 500 index futures fell 5.20, or 0.5 percent, to 1,131.90, while Nasdaq 100 index futures dropped 7.25, or 0.4 percent, to 1,881.00.

No economic news to speak of, but Greece will be pitching its case to the U.S. Please for the love of god Obama Administration stay away from this! I am putting my stake in the ground, if the U.S. does anything to help Greece by providing any financial backing, I will join the Tea Party movement. Who knows, I could be Palin’s right hand man, not a bad spot to be!

So come join us today in our live stock chat , where every day is a winner! Membership is at all time highs, its on fire, come and see why!

Currencies and Commodities

The greenback is showing strength once again, which probably isn’t helping the cause for equities this morning. The dollar fell 0.6018% at 89.765 yen in the currency market. The euro depreciated 0.5059% to $1.3565 while the pound lost 0.5990% to $1.4976. Gold fell $5.70 to $1118.30 an ounce, while silver tanked 1.11% at $17.08. Crude for April delivery dropped off of its yearly high, losing $1.40 to $80.47 per barrel on the NYMEX; a 1.71% decline

Markets were on fire last week as averages turned positive for 2010 amid a host of economic data. At the closing bell Friday, the blue chips gained 122.06 points, or 1.2 percent, to 10,566.20. The Standard & Poor’s 500 index advanced 15.73, or 1.4 percent, to 1,138.70. The Nasdaq composite index added 34.04, or 1.5 percent, to 2,326.35.The Russell 2000 index of smaller companies rose 13.55, or 2.1 percent, to 666.02.

Morning Outlook

The broader market will put its six day winning streak on the line Monday, as futures are narrowly mixed in premarket action. Futures have steadily risen throughout the morning following losses slight losses in Europe.  Dow Jones industrial average futures gained 19 points, or 0.2 percent, to 10,564. Standard & Poor’s 500 index futures rose 1.90, or 0.2 percent, to 1,138.40, while Nasdaq 100 index futures rose 1.75, or 0.1 percent, to 1,887.25.While the street will get data on inventories, retail sales and consumer sentiment in the second half of the week, the economic calendar is crystal clear today.

The wheeling and dealing continues as AIG looks to sell off profitable units to repay TARP funds. In a deal that was being discussed last month, MetLife Inc (MET) bought AIG unit Alico for a cool $15.5 billion. This wasn’t as much of a surprise as the Prudential PLC deal was last week so the market is reacting accordingly.

Currencies and Commodities

Once again a lower greenback is utting upward pressure on commodity and raw material prices, while crude is looking to push through its top resistance and climb past $82 per barrel. The dollar rose 0.0654% at 90.337 yen in the currency market. The euro appreciated 0.2695% to $1.3662 while the pound gained 0.0315% to $1.5142. Gold rose $1.10 to $1136.30 an ounce, while silver climbed 0.25% at $17.42. Crude for April delivery climbed 39 cents to $81.89 per barrel on the NYMEX; a 0.48% advance

What an exciting way to round out the week on the street. Hands over fist profits in chat , and the most watched figure in the American economy!

Morning Outlook

Stocks late day rally yesterday looks to continue as futures point higher in the premarket. Eyes around the globe are focused on the jobs number here in the U.S., which will release the February numbers in the premarket. Dow Jones industrial average futures are up 28, or 0.3 percent, to 10,459. Standard & Poor’s 500 index futures rose 4.00, or 0.4 percent, to 1,126.30, while Nasdaq 100 index futures gained 3.25, or 0.2 percent, to 1,863.00. It looks like the economy has cover for this month, with the snow causing a lot of variation in the data, so a bad number has a reason, and a good number is, well, good for the strength of the economy as we head into the spring.

Currencies and Commodities

The greenback is making its way lower in the premarket ahead of the jobs number, putting upward pressure on commodity prices. Looks for the dollar to rally on better than expected data. The dollar rose 0.4044% at 89.38 yen in the currency market. The euro depreciated 0.0144% to $1.3582 while the pound gained 0.1111% to $1.5049. Gold rose $2.90 to $1136 an ounce, while silver climbed 0.84% at $17.32. Crude for April delivery climbed 46 cents to $80.67 per barrel on the NYMEX; a 0.57% advance

Economic Calendar

8:30 AM
Employment Situation: The employment situation is a set of labor market indicators. The unemployment rate measures the number of unemployed as a percentage of the labor force. Nonfarm payroll employment counts the number of paid employees working part-time or full-time in the nation’s business and government establishments. The average workweek reflects the number of hours worked in the nonfarm sector. Average hourly earnings reveal the basic hourly rate for major industries as indicated in nonfarm payrolls. Analysts expect 50,000 jobs to have been cut in February, while the unemployment rate rises from 9.7% to 9.8%.

In other leading indicators for future hiring, the average hourly wages are expected to increase by 0.2%, while the workweek is expected to drop from 33.9 to 33.6 hours.

3:00 PM
Consumer Credit: Measures the value of consumer credit outstanding. Changes in consumer credit indicate the state of the consumer’s finances and can forecast their future spending patterns. This will be an interesting figure to see, with over 9% of American homeowners behind on their mortgage payments or in foreclosure, it’s only a matter of time before credit is defaulted upon. The consensus for January is a decline of $4 billion, however the range goes as low as $-10 billion. Credit fell $1.8 billion in December.

Morning Outlook

Stocks retreated from noon time highs Wednesday to finish mixed, and futures are mixed very very very slightly in the premarket this Thursday morning. I wouldn’t expect any major moves today ahead of tomorrow’s jobs figure. Plus, we have a slew of economic data today as well. Dow Jones industrial average futures are up 4, or less than 0.1 percent, to 10,391. Standard & Poor’s 500 index futures fell 0.10, or less than 0.1 percent, to 1,118.50, while Nasdaq 100 index futures rose 0.50, or less than 0.1 percent, to 1,852.50.

The increase in jobless claims over the past few months has been alarming. I know some of it is seasonal, but we ave lost that downward trajectory for the simple fact that net jobs aren’t being created. Housing also has me concerned. The housing market was running wild last summer and fall, and once the tax credit was extended we retreated. SO yeah, I’m not too confident in the data to push markets higher. Join us in chat where going long or short, doesn’t matter because profits are always running wild!

Currencies and Commodities

The dollar fell 0.0791% at 88.395 yen in the currency market. The euro depreciated 0.1862% to $1.3671 while the pound lost 0.0180% to $1.5097. Gold fell $3.60 to $1139.70 an ounce, while silver inched up 6 basis points at $17.34. Light, sweet crude for April delivery was hovering around flat at $80.80 per barrel.

Economic Calendar

Chain Store Sales: Monthly sales volumes from individual department, chain, discount, and apparel stores Chain store sales correspond with roughly 10 percent of retail sales. Chain store sales are an indicator of retail sales and consumer spending trends.

8:30 AM
Jobless Claims: New unemployment claims for the week of February 27th , to show the number of individuals who filed for unemployment insurance for the first time. The fewer people filing for unemployment benefits, the more have jobs, the more income in the consumer’s pocket, as well as a forecast on the strength of the economy. The consensus is for an increase of 475,000 for first time jobless claims, down from last week’s reading of 496,000. Here is another measure that is turning south, as the four week average increased by 6,000 to 473,750, its highest level since November.

8:30 AM
Productivity and Costs: Productivity measures the growth of labor efficiency in producing the economy’s goods and services for the 4th quarter. Unit labor costs reflect the labor costs of producing each unit of output. Productivity growth is critical because it allows for higher wages and faster economic growth without inflationary consequences. The consensus change in nonfarm productivity is 6.3%. This follows a 6.2% increase in Q3 of 2009. Between cutting hours and stuff, workers are working harder to produce goods and services cheaper than ever.

10:00 AM
Pending Home Sales Index: A leading indicator of existing home sales for the month of January developed by The National Association of Realtors. This provides a gauge of not only the demand for housing, but general sentiment on the consumer front. The housing rebound has hit the skids over the past few months despite the extension in the government tax credit.

10:00 AM
Factory Orders: Represent the dollar level of new orders for both durable and nondurable goods. The consensus is for an increase of 2% for the month of January, following a 1% gain in December. The December increase had previously been estimated to be 0.3 percent.

Stocks finished slightly higher on Tuesday, giving up earlier gains as investors didn’t want to place big bets as we head toward the monthly unemployment data. The blue chips ended up just 2.19 points, less than 1 percent to 10,405.98. The broader Standard & Poor’s 500 index advanced 2.60, or 0.2 percent, to 1,118.31, and the Nasdaq climbed 7.22, or 0.3 percent, to 2,280.79. The Russell 2000 index of smaller companies rose 5.66, or 0.9 percent, to 648.31

Morning Outlook

Futures are up slightly on Wall Street Wednesday before the release of any economic data. Investors will have their eyes focused on the private sector employment report in the premarket, which many consider more accurate than the Labor Department’s Employment Situation, which comes out on Friday. We also will get a reading on the service sector to follow up Monday’s expansion in manufacturing. All told, Dow Jones industrial average futures are up 10, or 0.1 percent, to 10,409. Standard & Poor’s 500 index futures gained 1.50, or 0.1 percent, to 1,118.90, while Nasdaq 100 index futures rose 1.75, or 0.1 percent, to 1,854.00. The dollar is lower, raw materials are up on the NYMEX. Howver, the economic new is the play, not the dollar as unemployment is the biggest hindrance to economic growth.

Currencies and Commodities

The dollar fell 0.1030% at 88.76 yen in the currency market. The euro appreciated 0.0378% to $1.3620 while the pound gained 0.3975% to $1.5030. Gold rose 60 cents to $1138 an ounce, while silver climbed 0.39% at $17.13. Crude for April delivery climbed 32 cents to $80 per barrel on the NYMEX; a 0.40% advance

Economic Calendar

8:15 AM
ADP Employment Report: The new ADP national employment report can help improve the payroll forecast by providing information in advance of the employment report. By tracking the jobs data, investors can sense the degree of tightness in the labor market. ADP is expected to report the private sector cut 20,000 jobs last month after cutting 22,000 in January

10:00
ISM Non-Manufacturing Index: A compilation from 60 non manufacturing sectors across the economic spectrum. The index helps gauge strengths and weaknesses within the economy. The composite index for the month of February is expected to have a reading of 51, the ISM non-manufacturing survey rose 7 tenths of a point to 50.5 in January.

Equity markets are coming off of solid gains yesterday, where a little wheeling and dealing with state owned super insurer AIG boosted market spirits. Markets were up early and never turned back as the blue chips gained 78.53, or 0.8 percent, to 10,403.79. The broader S&P 500 index advanced 11.22, or 1 percent, to 1,115.71, while the Nasdaq climbed 35.31, or 1.6 percent, to 2,273.57. It is up 0.2 percent for the year.The Russell 2000 index of smaller companies rose 14.09, or 2.2 percent, to 642.65.

Morning Outlook

Futures are pointing higher Tuesday on what looks to be a quiet day on the street. Outside of motor vehicle sales throughout the day, nothing else by way of economic data is expected. Here in the U.S., stocks are making there way higher following overseas gains, as Dow Jones industrial average futures gained 46, or 0.4 percent, to 10,431. Standard & Poor’s 500 index futures advanced 5.90, or 0.5 percent, to 1,120.50, while Nasdaq 100 index futures rose 8.75, or 0.5 percent, to 1,851.50.

Greek is still on the plate over in Europe as they try to hammer out a deal to purchase Greek debt and reduce the Club med country’s debt load. I never realized how much of a joke that country really is, and I dont blame Germay at all for wanting to bail them out just in the name of solidarity between EU members. People like to compare it to California’s problems, however there is one big difference, they are Americans, or at least a good majority of them are, I think…

Currencies and Commodities

The dollar fell 0.0743% at 89.064 yen in the currency market. The euro depreciated 0.0111% to $1.3559 while the pound lost 0.2272% to $1.4956. Gold gained $4.10 to $1122.40 an ounce, while silver rose 0.86% at $16.61. Crude for April delivery climbed 38 cents to $79.08 per barrel on the NYMEX; a 0.48% advance

New Recipe Pays Off, Or Maybe it Was the Extra Week in Their Fiscal Year?

By now, everyone knows that Domino’s Pizza (DPZ) has a new pizza recipe, pretty much admitting that there old way was not up to par for the eclectic taste of middle America. So what was the result? Net income rose to $23.6 million, or 41 cents per share, in the fourth quarter ended January 3, up from $11 million, or 19 cents, in the year-earlier period. Total revenue rose 8.1 percent to $462.9 million

Major averages finished just north of positive on Friday to close out a winning month of February. The blue chips rose 4.23, or less than 0.1 percent, to 10,325.26. The broader S&P 500 index gained 1.55, or 0.1 percent, to 1,104.49, while the Nasdaq composite index advanced 4.04, or 0.2 percent, to 2,238.26. The Russell 2000 index of smaller companies fell 1.90, or 0.3 percent, to 628.56.

Morning Outlook

Wall Street is pointing to a higher opening Monday as we enter the first day of March. Investors are feeling a bit optimistic ahead of key readings on the economic front. A resolution for Greek debt may also be hammered out soon, which lifted global markets higher.

Wow, we already are in the first day of the last month of the first quarter! Dow Jones industrial average futures advanced 29, or 0.3 percent, to 10,340. Standard & Poor’s 500 index futures gained2.40, or 0.2 percent, to 1,105.80, while Nasdaq 100 index futures climbed 4.00, or 0.2 percent, to 1,822.50.

Currencies and Commodities

The greenback made its way sharply higher this morning. The dollar rose 0.3867% at 89.312 yen in the currency market. The euro depreciated 0.7038% to $1.3536 while the pound plummeted 2.2652% to $1.4892. Gold dropped $4.80 to $1114.10 an ounce, while silver lost 0.13% at $16.50. Crude for April delivery fell 12 cents to $79.54 a barrel on the NYMEX; a 0.15% decline

Economic Calendar

8:30 AM
Personal Income: the dollar value of income received from all sources by individuals. Consumer spending: Includes consumer purchases of durable and nondurable goods, and services.

The consensus increase in personal income for the month of January is 0.4%, while December saw a the same figure. Consumer spending is expected to have risen 0.4% in the month, up 20 basis points from December. Wages are expected to increase only fractionally, and that is where it really counts.

10:00 AM
The ISM Manufacturing Index: The Institute for Supply Management surveys more than 300 manufacturing firms on employment, production, new orders, supplier deliveries, and inventories. The index gives a great look at the state of manufacturing and the direction it is heading. The cyclical nature of manufacturing could signal further economic downturn, and also can send off serious inflationary pressures in the economy on a higher than expected number.

The consensus figure is 67.5 for the month of February, down from January’s reading of 58.4. The measure is riding a six month winning streak.

10:00 AM
Construction Spending: The report measures the value of new construction activity on residential, non-residential, and public projects, giving a great indication of the economy’s momentum. Construction continues to get battered during this recession, with the sector being one of the most hard hit by employment. Low rates have done little to boost residential construction, while the weather this winter has dampened economic growth.

The consensus is for a drop of 0.8% in January after declining 1.2% in December.

Stocks finished lower on Thursday, however rebounded off of their lows of the day, The Dow Jones Industrial average ended down 53.13 points, or 0.5%, at 10,321.03. The benchmark S&P 500 declined 2.31 points or 0.21% to 1,102.93, while the Nasdaq nearly broke even, ending 1.68 points lower to 2,234.22.

Morning Outlook

Wall Street is trading mixed this premarket ahead of the days full load of economic data. We will be getting growth revisions before the bell, followed by what i expect to be disappointing consumer and housing reports. Dow Jones industrial average futures are up 26 at 10,342. Standard & Poor’s 500 index futures gained 0.90 at 1,103.20. The tech heavy Nasdaq 100 index is trading lower, down half of one point at 1,813.00.

All in all, i suspect the worse than expected data to weigh on trading as we enter the weekend. Join us in chat for trading today!

Currencies and Commodities

The dollar rose 0.1678% at 89.224 yen in the currency market. The euro appreciated 0.2814% to $1.3587 while the pound lost 0.398% to $1.5205. Gold is down 10 cents to $1108.40 an ounce, while silver climbed 0.08% at $16.14. The front month April contract for light, sweet crude dropped 13 cents to $78.04 per barrel on the NYMEX; a 0.19% decline.

Economic Calendar

8:30 AM
Quarter 4 Gross Domestic Product: GDP measures all the goods and services produced within the United States during the second quarter. The consensus for real GDP (taking inflation into account) in the 4th quarter is growth of 5.7%, which is unchanged from the initial reading last month.

9:55 AM
Consumer Sentiment: Consumer sentiment is directly related to the strength of consumer spending, by questioning 500 households each month on their financial conditions and attitudes about the economy. The consensus final reading for February is 73.7, on par with the first reading of the month. Volatility is back in the market place, with jobess claims have gone back up. We are still far ahead of February’s low of 56.2, but dont be suprised to see a number to the downside following the horrific consumer confidence data earlier this week.

10:00 AM
Existing Home Sales: The number of previously constructed homes, condominium and co-ops in which a sale closed during the month. The only way we can unclog the housing market is by selling homes from the inventory that are already on the market. Prices have dropped sharply as stockpiles of foreclosed homes flood the market and economic unrest keeps potential buyers at bay. The consensus for January is a 5.5 million unit annual rate, which is an increase from a pace of 5.45 million in December which was a 16.7 percent decline; the largest drop on record, Supply of homes on the market now stands at 7.2 months