Wednesday, June 10, 2009
Before the Closing Bell
May Treasury deficit came worst than expected. The deficit is now at $189.7 billion, quite bigger than the preceding deficit of $28.6 billion. Market did not seem to react to the news. S&P 500 is now at 932.98.
Update
Stocks are hitting their fresh-lows. S&P 500 is now at the session low of 930.92. At 1pm, comes the 10-year note auction followed by the treasury budget at 2pm.
Tomorrow, we have the jobless claims and the retail sales, both released at 8.30am. The consensus is positive for retail sales. It is 0.6. We had a slight decline of 0.4 in April.
Although Gold is pulling up from the early losses, it is still trading in red. Silver, on the other hand is touching new lows of the day, last quoted 15.12, down 0.66%.
Tomorrow, we have the jobless claims and the retail sales, both released at 8.30am. The consensus is positive for retail sales. It is 0.6. We had a slight decline of 0.4 in April.
Although Gold is pulling up from the early losses, it is still trading in red. Silver, on the other hand is touching new lows of the day, last quoted 15.12, down 0.66%.
Intraday
Almost all the Sectors of S&P 500 have fallen into the red territory. Energy and Utilities are still trading higher though, up 0.57% and 0.32% respectively.
Meanwhile, Crude oil is trading above $71 a barrel, fresh year highs. Gold and Silver futures, on the other hand, are trading with some moderate losses today. They are now quoted at 950.70, down 0.29% and 15.12, down 0.59% respectively.
The trading at the exchange is very quite today. Only 1.5 Billion share are changing hands.
S&P 500 advances 175, declines 319, unchanged 6.
Meanwhile, Crude oil is trading above $71 a barrel, fresh year highs. Gold and Silver futures, on the other hand, are trading with some moderate losses today. They are now quoted at 950.70, down 0.29% and 15.12, down 0.59% respectively.
The trading at the exchange is very quite today. Only 1.5 Billion share are changing hands.
S&P 500 advances 175, declines 319, unchanged 6.
Update
The fresh gains made in the first 15 minutes of trading have been trimmed. Stocks are now trading with mixed fashion. 4 out of 9 sectors are now in green. Energy is the leading sector, up 1.45%.
30-Year Treasury is making another run, yielding at 4.68.
The U.S Dollar Index slightly higher, trading at 80.15. It is showing some support at 78.5 level and resistance around 81.
30-Year Treasury is making another run, yielding at 4.68.
The U.S Dollar Index slightly higher, trading at 80.15. It is showing some support at 78.5 level and resistance around 81.
At the Opening Bell
Futures are pulling back from their fresh gains however, still manged to trade in green. European and Asian bourses are all up.
FTSE 100 up 1.66% at 4478, DAX up 2.03% at 5099.35, CAC 40 up 1.55% at 3347.90 HANG SENG up 4.03% at 18785.66, Nikkei 225 up 2.09% at 9991.49.
Meanwhile, MBA purchase application data, which publishes a weekly survey that covers 50% of all residential mortgage, is showing that the Market Composite Index is down 7.2 % at 611.0. The index is a measure of mortgage loan application volume. The Refinance Index also decreased 11.8 % to 2605.7. The average rate for a 30-year fixed rate mortgage went up 5.57% while the application volume increased 1.12%.
FTSE 100 up 1.66% at 4478, DAX up 2.03% at 5099.35, CAC 40 up 1.55% at 3347.90 HANG SENG up 4.03% at 18785.66, Nikkei 225 up 2.09% at 9991.49.
Meanwhile, MBA purchase application data, which publishes a weekly survey that covers 50% of all residential mortgage, is showing that the Market Composite Index is down 7.2 % at 611.0. The index is a measure of mortgage loan application volume. The Refinance Index also decreased 11.8 % to 2605.7. The average rate for a 30-year fixed rate mortgage went up 5.57% while the application volume increased 1.12%.
Futures vs Fair Value
S&P futures vs fair value: +11.70 at 951.30. NASDAQ +11.75 at 1512.50. The futures are showing an impressive movement in the pre-market on Wednesday.
The U.S. international trade gap widened in March from $26.1 billion deficit to $27.6 billion deficit. The cause was not due to the rising imports but deteriorating exports, down 2.4%. Imports slid as well, down 1%.
We will see a movement in the U.S. Dollar today since it is very sensitive to changes in the trade.
The U.S. international trade gap widened in March from $26.1 billion deficit to $27.6 billion deficit. The cause was not due to the rising imports but deteriorating exports, down 2.4%. Imports slid as well, down 1%.
We will see a movement in the U.S. Dollar today since it is very sensitive to changes in the trade.
Subscribe to:
Posts (Atom)
