Are the wins that are blowing change agents. Looking at the dow s p and nasdaq we saw the dow and s p slip into positive territory but we have seen gains fade away basically. The s p 500 down about 2 10 of a percent. This is after Stanley Fischer did say that the u. S. Economy could see some growth later this year. Potentially putting another fed rate hike on the table. Lets see what is happening in terms of the imap functions. Did see more sectors utilities of about 5 10 of a percent. Health care still a little afterve but premuch flat. Hat happened with pfizer what stick a look at plays in terms of speculation. These three stocks in terms of rid general denver text up on the order to about 3. 7 especially after speculation that one of these others might be in play. One commodity to talk to about is also pulling on the markets, oil breaking a sevenday winning streak down your session lows down 3 here. Chair fishero fed talking about hawkish comments we are seeing the baker hughes coun
We will dig into that in a few minutes. To theot confined financials. A relatively broad selloff. Groups Like Health Care are leading the downturn in todays session. At the lows of the day of the moment. The dow down 1. 5 . The nasdaq is really bucking the trend. In todays session we are watching what has been going on with crude oil as the meeting in algiers is happening among opec members. You can see crude oil prices up more than 3 in part as it looks like saudi arabia is opening the door to future Production Target deals. It is contingent upon access on our ron. The dollar falling today also. Offshore drillers doing among the best. Transocean leading some of the games in todays session. At the dowing movers. Goldman sachs initiating coverage of some of the stocks. Morgan stanley out with negative commentary. Marriott is the only one on the approved list. Winners. Ip side realty even as hotel stocks fell off, Real Estate Investment trusts going higher. They seem to be benefiting fro
Market. A lot of different nuggets today. Everything from a short trade to mixed commodities, as well as mixed earnings. This is where we stand right now. You can see, premuch mixed and close to the flat line. The nasdaq is up by. 1 . Lets take a look at what happening in terms of the s p. So far today, a very volatile, upanddown day. The most around 11 30 a. M. , and now we are close to the flat line. Markets, as well as volume, not happening today. Down by 8 against the 20 day moving average. Jeweler, up by about 7 . Earnings per share Beat Estimates by . 84 versus . 71. There is bad news as well. Samestore sales dropped. Less buying there. Is up higher, shares rebounding after falling 11 the last three or four days. Programs toanding help people pay. They are not lowering their own retail price for the a b pan, but they are expanding the program to help people pay for them. Is up, helped by rising oil on the day. Lets take a look at the chip makers, micron as well as western digital
Sales happening. Now with this new number, this is where we stand this is where we stood. About new number, 650,000, you can see that has not been hit since the Third Quarter of 2007. They gangbusters number in terms of new home sales. A pop in terms of percentage, 12. 4 . Out as that develops and how that affects the markets. Meantime, lets see how the markets are doing in terms of our majors. The dow and s p and nasdaq are up on the order of about half a percent. For today, investors are a little doubtful on whether a rate rise will happen, so they are pushing back into equities. Stanley fischer on sunday may on thewkish comments u. S. Economy. Take a look at this other chart i have. Generally speaking, we are in the dog days of summer, but along with fed speak on rates, we have some investor hesitation. Basically what you are seeing is the s p has had absolutely no one present moves to the upside or downside in the past 31 days. Investor doubt that any rate hike will happen in the n
Right now, we are looking at highs, record highs for the s p 500 and the nasdaq. They are punching above the record highs. They are off of that by about a point. The nasdaq is still above that. Its climbing throughout the course of the day. We are looking at earnings which have come out, especially with best buy which has pushed the s p 500. We have new home sales or were much better than anticipated. Thats a pop of about 12 . Take a look at my terminal. I point this out to you because even though we are seeing some of this pop today, its our smallest trading date of the entire year. The s p has seen no moves up or down in the past 31 days. Day. E on pace for our 32nd we are keeping investors somewhat on the sidelines. One commodity i want to point out is oil. Wti crude has been on track for its worst two days in the past two weeks or so. We got this pop that you can see in the past hour or hour and half. It is 47. 82. It is up be 48 mark. We saw a reports coming out from reuters sayin