Craig Johnson’s
Market Brief
Tuesday, May 14, 2013
Stocks finished Monday’s trading with mixed results as the market lacked direction. The Dow Jones Industrial Average has put together a string of 17 consecutive Tuesdays in which the index has closed the day higher. Every Tuesday in 2013 except the first one has provided gains. The stock market had every opportunity to drop on Monday, but it remained quite resilient in the face of selling. Healthcare was the day’s strongest group.
Economic Calendar
May 13 - Monday
Retail Sales, April (8:30): 0.1% actual versus -0.3% expected, -0.5% prior
(revised from -0.4%)
Retail Sales ex-auto, April (8:30): -0.1% actual versus -0.2% expected, -0.4%
prior
Business Inventories, March (10:00): 0.0% actual versus 0.3% expected, 0.0%
prior (revised from 0.1%)
May 14 - Tuesday
Export Prices ex-ag., April (8:30): -0.2% prior
Import Prices ex-oil, April (8:30): -0.2% prior
May 15 - Wednesday
MBA Mortgage Index, 05/11 (7:00): 7.0% prior
PPI, April (8:30): -0.5% expected, -0.6% prior
Core PPI, April (8:30): 0.1% expected, 0.2% prior
Empire Manufacturing, May (8:30): 3.5 expected, 3.1 prior
Net Long-Term TIC Flows, March (9:00): -$17.8B prior
Industrial Production, April (9:15): -0.2% expected, 0.4% prior
Capacity Utilization, April (9:15): 78.3% expected, 78.5% prior
NAHB Housing Market Index, May (10:00): 44 expected, 42 prior
Crude Inventories, 05/11 (10:30): 0.230M prior
May 16 - Thursday
Initial Claims, 05/11 (8:30): 330K expected, 323K prior
Continuing Claims, 05/04 (8:30): 3005K expected, 3005K prior
CPI, April (8:30): -0.2% expected, -0.2% prior
Core CPI, April (8:30): 0.2% expected, 0.1% prior
Housing Starts, April (8:30): 970K expected, 1036K prior
Building Permits, April (8:30): 950K expected, 902K prior
Philadelphia Fed, May (10:00): 2.5 expected, 1.3 prior
Natural Gas Inventor, 05/11 (10:30): 88 bcf prior
May 17 - Friday
Michigan Sentiment, May (9:55): 78.5 expected, 76.4 prior
Leading Indicators, April (10:00): 0.3% expected, -0.1% prior
Sources: bankrate.com, bloomberg.com, briefing.com, Dow Jones News, Financial Times, finviz.com, Investor's Business Daily, marketwatch.com, seekingalpha.com, Thomson Reuters/First Call, U.S. Dept of Treasury, yahoo.com and individual company web sites and press releases.
Leonetti & Associates, LLC views or opinions are as of a certain date and subject to change without notice. The material contained herein is for informational purposes only and obtained from sources we consider reliable. We make no guarantee as to its accuracy or completeness. References to specific securities and industries/sectors should not be considered recommendations to buy or sell any security or advisory service. Past performance is not a guarantee of future results.
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