The Market with Ozzy

2011-04-16T15:00:00.000-04:00

Pre-Market

2010-04-08T09:20:00.002-04:00

Stocks are pointing to a lower start today due to the concerns of Greece's ability to borrow, as Euro lost value against the U.S. dollar. Sellers redoubled their efforts after jobless claims data came much worse than expected, up to 460K in the April week. Consensus was expecting 436K.

S&P 500 futures vs fair value

2010-04-07T09:16:00.002-04:00

S&P 500 futures vs fair value: -2.80 at 1186.20. The strength of U.S. dollar is pressuring both commodities and stocks before the opening bell. Crude oil futures is currently priced at $86.06, down $0.71 a barrel. Meanwhile gold has pulled up from red territory priced at $1,1135.50 an ounce.

The 10 year treasury yield is now at 3.95% after going over 4% yesterday.

Meanwhile, S&P 500 futures managed to pull up from its early lows, though it is still trading with moderate losses. There is not an important news to speak of today except the weekly oil and gasoline data that will be released at 10.30am.

Early Tuesday Trading

2010-04-06T09:30:00.003-04:00

S&P 500 is trading with moderate losses at 1183.62, down 3.82 points. The selling is broad based though. All the S&P 500 sectors are trading in red. The worst performing sectors are technology and materials, down, 0.51% and 0.49% respectively.

Meanwhile Crude Oil and Gold has eased back from their lows of the day. Crude oil actually managed to pull itself into the green territory, trading at $86.68 a barrel, up 0.07%. Gold, however, still is trading with losses, down $4.30 at $1125.60 an ounce.

The declining issues outpace the advancing issues at S&P 500 today. 102 advances, 387 declines and 7 unchanged.

Monday Trading

2010-04-05T09:03:00.004-04:00

S&P 500 futures vs fair value: +3.5 to 1181.60. Stocks are off to solid start Monday. Strong commodities and weak dollar has helped the stocks to surge in the pre-market activity. Oil is trying new highs for the year in the pre-market trading, up 1.2% at $85.90 a barrel. Gold is unchanged at $1,125.10 an ounce.

Market will be focused on two things on our economic calendar today. Both are going to be released at 10am, ISM non-mfg index and and pending home sales. Besides these two, there are not many market moving news until next Tuesday.

Market is about to open and stocks managed to hold on their solid gains.

S&P 500 futures vs fair value

2010-01-20T08:47:00.002-05:00

S&P 500 futures vs fair value: -6.60 at 1143,40. Futures remain in negative territory after a batch of data was released. Housing starts report showed mixed results. Though the multi-family component roared at a 69.8% pace after a 38% drop the previous reading, single-family starts disappointed, down 6.9%.

Meanwhile producer price index, PPI, came in-line with the expectations, up 0.2%. Considering the sharp increase in the month before, core PPI inflation eased, showing a sharp slowdown in December. The participants, however, reacted to the data almost none at all.

It is 9 am and stock futures are pulling a bit higher from their early losses. S&P 500 is still pointing to a lower start.

Banc of America, BAC, posts a net loss of $5.2 billion of the fourth-quarter, 60 cents a share. Analysts were expecting a 52 cents loss. According to spokesman from BAC, though the investment banking units are doing very well, weak housing market and unemployment drag the consumer lending units profits down.

Options Expiring for January

2010-01-15T09:37:00.003-05:00

S&P 500 is trading with moderate losses due to the strong U.S dollar. The consumer price index (CPI) came in-line with the expectations at a pace of 0.1% increase which is much lower than the previous 0.4% increase in November. Slow housing and consumer sector basically keeping the inflation worries down.

Meanwhile, industrial production also showed signs of weakness, though the 0.6% growth was widely expected.

Eyes are turned to consumer sentiment which will be released in the nest 10 minutes.

S&P 500 is still under selling pressure. It is trading its day-lows now at 1143,24. The weakness is wide spread. Except consumer staples all the sectors of S&P 500 is trading with moderate losses. The main laggard at this hour is the financials, down 1.31%.

U.S dollar is making a comeback, trading with confidence at 77.19, up 0.60%. The strength of dollar, mainly against euro, was mainly due to the worries about Greece's financial situation.

Consumer sentiment, The University of Michigan's Consumer Survey that questions 500 households each month, was just released. The numbers came rather disappointing. Though it is better than the last reading of 72.5, it is still much lower than the widely expected number of 74. Sellers immediately redoubled their efforts, sending S&P 500 to its day-lows.

Early Monday Trading

2009-12-14T09:51:00.002-05:00

Stocks are holding to their early gains though the financials lag in the early Monday trading. The Index (XLY) is now at $14.33, down 0.43%. S&P 500, on the olther hand is trading with handsome gains at 1,111.91, up 4.68 points.

Crude oil is having an 8-day straight loss at the stock exchange unlike the other commodities. U.S dollar also had a hit today after reaching its 2-month highs.

The news came rather interesting for Dubai's recent financial problems. Abu Dhabi's $10 billion dollar aid to Dubai will ease the immediate financial obligations to Dubai's creators. Though, this news doesn't seem to stop the selling-pressure on crude oil, still trading with losses at $69.57 a barrel, down 0.43%.

Meanwhile Citigroup (C) finally unveiled its plan to repay the TARP funds. Citigroup excepts to raise about $17 billion by cashing out some of its own stock. The announcement sent the shares of C down almost 5% to $3.76 a share. At this moment it has just found a support from its August-low of $3.70 a share.

New 2009 Highs for the Stocks

2009-12-03T10:24:00.003-05:00

Stocks surrendered their fresh 2009 highs after ISM Non-Mfg Index tumbled. It is down 2 points to 48.7. The Index surveys 400 firms from different sectors including not not limited to construction agriculture, wholesale trade and retail trade. S&P 500 finally found support at 1,106.87. Stocks are now trading with a mixed fashion. Financials are leading the market with moderate gains, up 0.78% at 14.78 (XLF). The main laggards are Materials and Energy, down, 0.72% and0.84% respectively.

Meanwhile, the greenback is making a comeback as Gold fell into the red territory. It is now trading with some moderate losses, last traded at $1209.50 an ounce, down .47%.

All the eyes are now turned to the The Employment Situation, which will be released at 8.30am tomorrow. The consensus is at 10.2%, unchanged from the previous reading.

New Record High: Gold

2009-12-01T10:00:00.004-05:00

Stocks have started the session with handsome gains pushing S&P 500 almost all the way to its new fresh highs for the year. The strength is coming from commodities and the weakening dollar. Crude oil is now trading with strong and confident gains last traded at $1,192.30 an ounce, up $13.8 though, down from its earlier record high of $1,200.49. U.S. dollar index on the other hand, is under selling pressure, 74.44 down 0.58%.

Markets Today

2009-11-21T08:24:00.004-05:00

S&P 500 found new 2009-highs last week amid growing concerns of economic recovery and strengthening dollar. On Monday, it touched a critical level of 1113.69, highest since October 2008. Tuesday however, after the producer price index data was released at 8.30am, sellers redoubled their efforts preventing S&P finding new year-highs. Increasing oil prices boosted the PPI but the core PPI surprisingly had a sharp decline. The increase in energy and commodities kept the pressure for inflation.

At the bottom of the hour on Tuesday another important data, the industrial production data came out. Industrial sector slowed down in October. The consensus was a 0.7% increase yet the actual numbers came to 0.1% which is much lower than the prior 0.7% increase in September suggesting the overall economic recovery being in tact yet on a slower pace.

Housing starts also surprised the investors. It unexpectedly dropped 10.6% in October. The numbers came in much lower than the consensus. The main laggard was the multi-family starts which slipped 34.6% but the single-family also slid over 6%. Meanwhile, the first-time homebuyer tax credit has been extended, therefore we might see an upward trend for single-family purchases.

Several important data will be released next week. In our calendar for the following week, we have GDP, Durable Goods Orders, Personal Income and Outlays, Jobless Claims, Consumer Confidence and Consumer Sentiment.

November options expired today.

Markets Slide

2009-11-19T10:24:00.003-05:00

Markets slide early today after a batch of economic data were released. Although jobless claims for the week came in-line with the expectations, participants of S&P 500 ignored the data and sent the stocks all the way down to 1,093.17. Initial claims were unchanged. Continuing claims, down 39,000 to 5.6 million.

Participants also ignored the index of economic leading indicators, which rose 0.3% in October. At this minute in the stock exchange, S&P found support at 1,089.84.

Bear Market

2009-11-18T10:12:00.003-05:00

S&P 500 slips after the housing starts data came worse than expected. The weakness is broad-based however, financials managed to stay in the green territory. Technology and energy stocks are the main laggards at this hour, down 1.02% and 0.92% respectively. S&P 500 found some support at 1102.70.

Markets Slip

2009-11-17T10:44:00.005-05:00

S&P 500 is trying its fresh-lows for the day though it still manages to stay over the critical level of 1100, now at 1104.14. Meanwhile, the rebound of the U.S. dollar is pushing commodities considerably lower at this hour. Crude oil, however, is bouncing back from its day-lows, down 0.03% at $78.88 a barrel. Gold is also under selling pressure, down 0.26% at $1135.60 an ounce.

The industrial production data was released an hour ago. The 0.1% growth in October, down from the previous 0.7% surge in September, suggested that economic recovery once again, slowed down. Within manufacturing, the car sales slipped 1.7%, durables down 0.4% where non durables advanced 0.2%. Participants of S&P 500 reacted to the news preventing S&P 500 reaching 2009-highs.

November Expiration Week

2009-11-16T10:09:00.005-05:00

S&P 500 is supporting the handsome gains, finding new year-highs at this hour. It is at 1100.45. Retail Sales data was released at 8.30am, showing a jump in October. The consensus was 0.9% increase the the actual number came better than expected, up 1.4%. Participants doubled their buying efforts in the pre-market trading, pushing S&P to 1100 level.

Meanwhile, Empire State Mfg Survey, which consists of 175 manufacturing companies CEO reports in New York, showed a slower paced growth, fell 11 points to 23.51.

November expiration for equity and index options will be on Saturday.

Futures

2009-11-13T07:45:00.001-05:00

S&P 500 futures vs fair value: + 2.90 at 1090.20

Recession is Officially Over in Europe

2009-11-13T07:29:00.002-05:00

FTSE 100: +10.01 at 5,286.51...DAX: +12.58 at 5,676.54...CAC 40: -8.57 at 3,799.50
Germany, France, Italy and Eurozone reported their quarterly GDP. German economy posted a second consecutive growth in their GDP. The growth came in line with the expectations, up 0.7%. France, on the other hand, had their economy grew on a much slower pace. The GDP was up 0.3% last quarter which was worse than expected yet the rate matched the previous quarter numbers. Italian economy also grew on a slow pace comparing to that of Germany, yet it was quite a respectable growth, up 0.6% for the quarter. By definition, Europe is out of recession.

Pre-market Trading

2009-11-12T08:19:00.006-05:00

S&P 500 futures vs fair value: -5.50 at 1093.01. The retail giant Walmart posted a better-than-expected third quarter results. The consensus was $3.58 per share where Walmart posted a $3.61 per share. Walmart shares are currently trading slightly lower at the stock exchange at $52.90, down 7 cents. Meanwhile, MBA purchase application data surprisingly, for the first week of November, came much worse than expected, down 11.7%. U.S. dollar is making a comeback today pushing the commodities and the stock futures into negative territory. Crude oil and Gold is pulling back, down $0.74 at$78.54 a barrel, down $1.20 at $1112.80 an ounce respectively. S&P 500 came to a halt before the market bell, after surging almost 7% in the past 8 trading days.

Meanwhile, in Europe, the industrial production for the third quarter rose 0.3%, quite smaller than the consensus. European bourses are getting ready for a big day tomorrow where France, Germany and Italy are posting their GDP's for the quarter.

Earnings Season

2009-10-22T10:25:00.003-04:00

Markets are trading with a mixed fashion today, early Wednesday. The broad-based selling effort dragged S&P 500 down to 1074.31, lowest level since October 13th. Participants of S&P 500 reacted by doubling their selling efforts after the Jobless Claims data came worse than expected. The higher consensus was 525K but the actual numbers came to 531K. Also, FHFA House Price Index showed a decline in home prices for single-family housing in August. The strengthening dollar also pressures the markets at this hour at the stock exchange.

In Great Britain, retail sales came out slightly off. Although there wasn't a decline in retail sales, the households were more cautious about spending money in August.

Meanwhile, crude oil is having a flat trading day today. It is now at $80.77 a barell, down 0.74%. Crude oil is trading higher than its October 2008 highs. Gold is also under selling pressure, trading at $1053.80 an ounce, moderatly down 0.93%.

Early Tuesday Trading

2009-10-12T09:07:00.004-04:00

S&P 500 futures vs fair value: - 1.70at 1073.40. European bourses are trading with a mixed fashion. Germany's DAX is trying the green terriotory for the second time but sellers are so far more persuasive . Consumer Price Index data was released today in Great Britain. The number was surprisingly flat in September, 0.0%. The new data suggested that the Bank Rate will still remain the same, at 0.5%. Participants of FTSE 100 are pushing the Index into the positive territory after the announcement. Meanwhile France's CAC 40 is heading back to south once again. After the Consumer Price Index, CPI, was released, sellers took control and doubled their efforts. The Index is trading with some moderate losses at 38,380, down 0.39%. Although consumer prices were much weaker than expected, 0.2% decline, French economy seems to be growing again according to economists.

Market is just about to open. Both ISCS-Goldman Store Sales and Redbook data came better than expected. Redbook reported that the 0.6% increase at chain stores was the best year-on-year sales rate since April. Investors sees this announcement as an important indicator to the Retail Sales which will be released tomorrow.

S&P 500 futures still suggest a choppy start at the stock exchange.

Markets today

2009-10-09T09:11:00.004-04:00

S&P 500 futures vs fair value: -.70 at 1064.76. Stocks are off to a slow start after the International Trade data number was released. The deficit shrank again suggesting the economic recovery is still choppy. The August U.S. trade gap is now at $30.7 billion, from $31.9 billion in July.

European bourses are trading with a mixed fashion, Germany's DAX surrenders its early gains and now trading in red territory, down 15.46 at 5701.08. France's CAC 40 and Great Britain's FTSE is also trading with moderate losses, down 15.38 at 3791.43 and 10.69 at 5143.95 respectively.

Stocks are now off to a very slow start. S&P is trading less than a dime at 1065.20. The volume at the stock exchange is unusually low today.

After Mr. Bernanke's comments, U.S. dollar came back from its year lows, pulling the gold prices down. Gold is trading with some losses after a 4.86% 5 day rally, now down 0.56% at 1048.07 an ounce. U.S dollar Index is at 76.25.

Next week is going to be big week at the stock exchange. We have Retail Sales on Wednesday, then CPI the following and Industrial Production on Friday. Also, once again we are right around the corner from the earnings season. Tuesday: Johnson and Johnson (JNJ) and Intel (INTC. Wednesday: Abott (ABT) and JP Morgan (JPM). Thursday: I.B.M (IBM) Google(GOOG) and Goldman Sachs(GS. Friday:General Electric (GE), Banc of America (BAC)and Citigroup(C).

August Options Expiring

2009-08-21T09:04:00.002-04:00

S&P futures vs fair value: +6.10 at 1013. Participants of S&P 500 drove the index higher before the opening bell. All the eyes are now turned to the existing home sales data, which will be released at 10am.

European bourses are trading with strong gains today. DAX is trading significantly higher, up 1.7% while France's CAC is trading also with confidence, up 1.6%.

Monday Morning

2009-08-10T10:01:00.004-04:00

S&P 500 is now down 3.72 at 1006.65. The lack of news and the weakness in the European bourses also had an impact on the participants, as they doubled their efforts and drove S&P below 1,010 level again. U.S. dollar is trading with some moderate gains, up 0.25% at 79.10.

Meanwhile Dynegy (DYN) reported a second quarter loss of $0.41 a share. According to the Briefing.com, the company has entered into an agreement to sell their assets.

Energy, Financial and Health Care sectors are in green supporting the market at this 1,010 level. The volume at the exchange is quite low today

S&P 500 Futures

2009-08-06T09:23:00.002-04:00

S&P futures vs fair value: 1009.10, up 4.90. Stick futures are off to a solid start this early Thursday. The strength is came from the latest jobless claims figures. The initial claims are now at 550,000, down from the previous reading of 588,000. However, on the other hand continuing claims data came worse than the widely expected consensus. Continuous claims climbed to 6.31 million. The consensus was 6.25 million.

Market just opened and stocks are trading with a mixed fashion. Consumer staples, Health Care and Energy sectors are all trading with moderate losses. Meanwhile financial sector is pulling the S&P 500 to a 10-month highs now. It is up 1.49%.

Crude oil is now under moderate-selling pressure. It is last quoted at $71.44 a barrel, down 0.53 cents.

European bourses are trying new highs for the day. Main strength is coming from the financial sector in England. FTSE 100 is now trading 66.81 points higher at 4713.94. Germany's DAX and France's CAC 40 also are trading with gains, up 1.05% and 1.16% respectively.

On a quick note, Chain store sales showed a weakness in July, tough it is almost identical with weak June sales.

Futures

2009-07-30T08:30:00.002-04:00

S&P futures vs fair value: +10.02 at 980.77. S&P 500 is off to a very solid start. Buyers redoubled their efforts pushing S&P 500 to its 6-month highs. The heavy activity started before the jobless claims data was released at 8.30am. Although the numbers came slightly better than expected, there were early layoffs in the manufacturing sector for the summer. The consensus was expecting 585,000; actual came to 584,000.

Meanwhile, European bourses are all up with solid gains. DAX is at 5297.51, up 27.19, FTSE 100 4601.25, up 53.72, and CAC 40 is at 3406.55, up 40.93.

Asian markets, on the other hand are trading with mixed a fashion. NIKKEI 225 is finally in the positive territory after spending almost the whole day in red. it is now at 10165.21, up 51.97.
China's HANG SENG had the similar movement today. It is now trading with some moderate gains at 20234.08, up 98.58.

Now the eyes are turned to the natural gas report at 10am. Natural gas has been under heavy selling pressure.