Tuesday, August 5, 2014
Stocks bounced higher yesterday. Most of the major indices rallied erasing their losses from Friday, but remain deeply oversold. Even though trading volume was light, it was good to see small capitalization stocks rally after last week’s weakness. Energy stocks led the market higher, while utility stocks declined.
August 5 - Tuesday
Factory Orders, June (10:00): 0.5% expected, -0.5% prior
ISM Services, July (10:00): 56.5 expected, 56.0 prior
August 6 - Wednesday
MBA Mortgage Index, 08/02 (7:00): -2.2% prior
Trade Balance, June (8:30): -$45.2B expected, -$44.4B prior
Crude Inventories, 08/02 (10:30): -3.697M prior
August 7 - Thursday
Initial Claims, 08/02 (8:30): 308K expected, 302K prior
Continuing Claims, 07/26 (8:30): 2525K expected, 2539K prior
Natural Gas Inventories, 08/02 (10:30): 88 bcf prior
Consumer Credit, June (15:00): $15.8B expected, $19.6B prior
August 8 - Friday
Productivity-Preliminary, Q2 (8:30): 1.4% expected, -3.2% prior
Unit Labor Costs, Q2 (8:30): 2.0% expected, 5.7% prior
Wholesale Inventories, June (10:00): 0.4% expected, 0.5% 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.