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要买的话在21-22附近买，如果能买到的话。。。
回复 19# not4weak

沁颍

Weekend Update

June 1, 2014


Equities ended this past holiday shortened week moderately up. The week began Tuesday with healthy gains as the Small-cap and technology stocks led the broad rally. Better than expected economic data, including durable goods orders and home prices boosted sentiment as the S&P 500 (SPX) closed at a record high. On Wednesday, stocks fell with weakness led by retailers. Thursday saw a jump in stocks even though a downward revision to first quarter GDP was more negative than forecast. Analysts still attribute much of the weakness in GDP to adverse weather but that excuse is now gone. More than offsetting the reading for GDP was a sharp drop in initial unemployment claims. The week ended mixed with Blue Chips up and many other major indexes down. An unexpected dip in consumer spending from the personal income report weighed on stocks into the end of the week. The S&P 500 Index (SPX) was up a robust 1.2% this past week while the Dow Jones Industrial Average ($DJI) was up a modest 0.7%. The tech-heavy Nasdaq (NDX) led the major indices to the upside jumping 1.4% on the heels of more gains in its biggest component Apple (AAPL).The small caps (RUT) finished the week up a modest 0.7% and is still down for the year.



Option Volatility remained at extremely low levels and Friday touched its lowest intra-day price in a year. The CBOE Volatility Index (VIX) was actually flat for the week as we seem to have hit some support near $11.30.  The VIX has consistently bounced off of current levels for over a year so hopefully we see the same scenario play out as earnings season winds down.Gold futures (/GC) fell again this past week as inflation concerns wane and demand is weakening. The precious metal fell over 3% for the week and is at multi-month lows.



Treasury yields were mixed this past week. At the start of the week on Tuesday, a slow rise in home prices offset stronger durables orders. Also, belief that the Fed would go slow on taper became more entrenched. A rally in government bonds in Europe made U.S. Treasuries more attractive, pushing yields down mid-week. An unexpected rise in unemployment in Germany fueled speculation that the European Central Bank will add stimulus at this week's policy meeting. Many had predicted a rise in rates but so far have been completely wrong as supply and demand have pushed U.S. Treasury prices higher.



This week's highlight is Friday's employment report for May. Also providing updates on the consumer sector will be motor vehicle sales and the ADP private employment report. The manufacturing sector is showing renewed vigor and early readings at the national level will come from this week's PMI and ISM index. Watch for news out of Europe on Thursday this week as the ECB is expected to increase its economic stimulus efforts. Any disappointment from them will most likely punish markets as most recent gains are based on something that will have a big impact.


Major Earnings for the Upcoming Week:

Monday:  CONN, KKD, VRNT



Tuesday: FCEL, SWHC



Wednesday: FIVE, JOSB, PVH



Thursday:  CIEN, DMND, JOY, MTN, SJM, TITN



Friday: KMG



Economic Releases (6/2-6/6):

Monday:

3:00 am CT – Fed’s Evans Speaks

8:45 am CT– PMI Mfg. Index

9:00 am CT– ISM Mfg. Index

9:00 am CT– Construction Spending

                                                                                                                                                                                

Tuesday:

Auto Sales – all day

6:45 am CT – GS Store Sales

9:00 am CT– Factory Orders

12:50 pm CT – Fed’s George Speaks

                                                                                                                                                                                                              

Wednesday:

6:00 am CT – MBA Purchase Applications

7:15 am CT – ADP Employment Report

7:30 am CT– International Trade

7:30 am CT– Productivity & Costs

8:45 am CT– PMI Services Index

9:00 am CT– ISM Mfg. Index

9:30 am CT – Oil Inventories

1:00 pm CT – Beige Book

                    

Thursday:

7:30 am CT– Weekly Jobless Claims

9:30 am CT– Natural Gas Inventories

12:30 am CT – Fed’s Kocherlakota Speaks

                                                                                                                                                                                                        

Friday:

9:00 am CT – Jobs Report

2:00 pm CT – Consumer Credit

沁颍

6/2/2014

U.S. stock futures (/ES)are trading slightly higher ahead of the markets open. Last week ended with the Dow and S&P at record levels. The futures are quiet despite positive manufacturing data out of China. The world's second largest economy has now reported positive manufacturing data for three months in a row. Investors will be watching several U.S. economic data points today including ISM manufacturing, PMI and construction spending for the month of April. The Fed’s uber-dove Evans spoke overnight in Turkey on timing of a rate hike and once again pinned the time frame on inflation, which is still too low.



Treasuries are a little lower after a mixed performance in global bonds. This follows a good performance in bonds last month. The 10-year Treasury yield edged up to 2.49%, and Asian fixed income markets were mostly lower too. China's PMI and Japan's Capex Survey both beat expectations to give Asian stocks a solid lift. But European PMIs generally disappointed, while German state CPI data suggests a dip below 1% in the figure for May. Also, U.K. mortgage approvals and business lending data disappointed. It's an important week of data and events with the markets looking ahead to Thursday's ECB decision and Friday's U.S. May employment report.



Stock Stories:

Apple (AAPL) – Developed –The tech retailerhas its annual Worldwide Developers Conference beginning today in San Francisco. The company is expected to announce a major refresh of OS X. Analysts say Apple will not announce a set-top box, larger iPhone or a smartwatch at the conference. The shares are up slightly ahead of the opening bell.



Major Economic Reports:

3:00 am CT – Fed’s Evans Speaks

8:45 am CT– PMI Mfg. Index

9:00 am CT– ISM Mfg. Index

9:00 am CT– Construction Spending



Notable Earnings:   

Monday 6/2:

Before Market:   CONN

After Market:   KKD, VRNT



Tuesday – 6/3:

Before Market:  N/A

After Market:  ABM, FCEL, SWHC

沁颍

6/3/2014

U.S. stock futures (/ES) are lower this morning after the Dow and S&P closed at new highs yesterday. Today’s early weakness is being linked to the Euro-Zone’s weak inflation rate, and it's unlikely that a catalyst will emerge to help boost the market’s fortunes. Investors will not have much to focus on as economic news is light today. Option volatility remains stubbornly low but has finally found some support at current levels. The CBOE Volatility Index (VIX) is still under $12 but should get a boost today if stocks stay in negative territory.



Treasuries are a lower again today after falling sharply yesterday. Bonds have found some weakness and yields may have seen a recent bottoming last week. The 10-year Treasury yield rose back above 2.5% and is now sitting near 2.56%. Overseas markets are mixed with most of the Euro-zone in negative territory after the weak inflation data. This data could provide further pressure for the ECB to increase its stimulus package that is expected on Thursday of this week. A surprise drop in German unemployment added to the bearish action as did a solid gain in U.K. home prices, which are above its pre-recession 2007 highs. Today's calendar includes vehicle sales for May, April factory orders, and weekly chain store sales, but there should be limited market reaction. There will be Fed-speak on the economy from noted Hawk George this afternoon.



Stock Stories:

AT&T (T) – Guiding –The telecom giant reaffirms FY14 guidance for stable consolidated margins and revenue growth in the 5% range. The company cited its Project VIP network transformation plan being ahead of schedule and its plans driving a shift in the company’s wireless revenue components. The shares are up slightly ahead of the opening bell.



Major Economic Reports:

Auto Sales – all day

6:45 am CT – GS Store Sales -

9:00 am CT– Factory Orders

12:50 pm CT – Fed’s George Speaks



Notable Earnings:   

Tuesday 6/3:

Before Market:   DG

After Market:   ABM, FCEL, SWHC



Wednesday – 6/4:

Before Market:  HOV, JOSB

After Market:  FIVE, PVH

沁颍

6/4/2014

U.S. stock futures (/ES)are trading slightly lower this morning after a lackluster session yesterday. Investors begin to look forward to the May employment data that will begin to be released today. The ADP Employment Change report, which measures service sector jobs in the economy, is expected to show that the economy added 210,000 such jobs and is a precursor to Friday’s nonfarm payrolls report from the government. Option protection remains cheap as the CBOE Volatility Index (VIX) is still under $12. Volumes have been extremely low and the market continues to play a waiting game for some type of catalyst.



Bonds are little changed to slightly lower and off their best levels from overnight. The 10-year yield fell to 2.56% overnight, but has edged back up to 2.6%. Global bonds are lower, even as equities are lagging. Trading volume was moderate volume ahead of the ECB meeting announcement tomorrow. Data were mixed with Euro-zone services PMI revised lower, but the U.K. nonmanufacturing PMI beating expectations. Meanwhile, Euro-zone PPI improved year over year while Q1 GDP came in at 0.2%. In the U.S., the markets will look to May ADP data (miss) this morning, along with ISM services and revised Q1 productivity, and trade. The MBA reported mortgage applications fell 3.1% in the week ended May 30. The weaker trend in mortgage activity came despite another drop in average mortgage rates. The Fed also releases its Beige Book this afternoon and should show an improving U.S. economy.



Stock Stories:

Panera Bread Co (PNRA) – What the?! –The casual dining chain plans to remove artificial ingredients from its menu by 2016 under a new food policy. Though the restaurant chain will get high marks from health advocates for the shift, analysts warn the pressure to comply with the "nothing artificial" claim will require heavy oversight and extra costs.  



Major Economic Reports:

6:00 am CT – MBA Purchase Applications – Down 3.1% for week

7:15 am CT – ADP Employment Report

7:30 am CT– International Trade

7:30 am CT– Productivity & Costs

8:45 am CT– PMI Services Index

9:00 am CT– ISM Mfg. Index

9:30 am CT – Oil Inventories

1:00 pm CT – Beige Book



Notable Earnings:   

Wednesday 6/4:

Before Market:   HOV, JOSB

After Market:   FIVE, PVH



Thursday – 6/5:

Before Market:  CIEN, JOY, SJM, TITN

After Market:  ALOG, DMND, IDT, MTN, PAY

沁颍

bad news...
回复 28# aimei

沁颍

6/6/2014

U.S. stock futures (/ES) are suggesting a higher open following another record close for the Dow and S&P 500 yesterday. Investors are awaiting the non-farm payrolls report which is expected to show that the economy added 215,000 jobs last month. The unemployment rate is expected to rise to 6.4% from last month’s 6.3% as more people join the workforce. Earlier this week the ADP jobs data missed on the downside and we still rallied, so more of the same would be expected.  The ECB acted as expected yesterday as they lowered interest rates modestly and set the deposit rate into negative territory. ECB head Draghi also indicated they will take more necessary steps to increase inflation and lending in the Euro-zone.



Treasuries are slightly higher and are attempting to add to yesterday’s gains. The 10-year yield fell off the 2.6% level but the jobs data will dictate direction today.  Europe continues to gain following the ECB's move into negative rate territory yesterday. Germany’s state bank raised its growth forecast today and has the burden of leading the Euro-Zone into recovery mode.  Asian shares were relatively flat for the session. The focus is all about the jobs data and there is not much else on today's calendar, with just April consumer credit on tap.



Stock Stories:

Amazon.com (AMZN) – Slim Phone, Slimmer margins –The online retailer/cloud company has an announcement on June 18thand many expect it to be their first foray into the smartphone segment. As typical with AMZN, they will most likely price it to sell and not make any money as they work to get more traffic to their site. The stock rose 5% yesterday on the rumor and is up slightly ahead of the opening bell this morning.  



Major Economic Reports:

7:30 am CT – Jobs Report

2:00 pm CT – Consumer Credit



Notable Earnings:   

Friday - 6/6:

Before Market:   KMG

After Market:   N/A



Monday – 6/9:

Before Market:  HTZ

After Market:  N/A

沁颍

Weekend Update

June 8, 2014

Data impacted by adverse winter weather and the following rebound are now coming into play. The latest numbers are showing improvement, which is providing lift to equities. Despite this, the moderate growth has provided too much of a boon to stocks.  The ISM manufacturing report provided unexpected volatility to markets early last week. After hours of confusion, the Institute for Supply Management officially corrected its initial report to show that the pace of growth in the US manufacturing sector accelerated in May instead slowing in the initial release. Stocks had moved lower after the ISM reported what turned out to be erroneous data however; they rebounded in the afternoon once the corrected data on manufacturing showed the sector expanding. Midweek showed some profit-taking but even a miss on the ADP number could not stop the rally. Thursday and Friday saw the Dow Jones and S&P 500 at record levels once again as any moderate data is a positive at this point. S&P 500 Index (SPX) was up a robust 1.3% this past week while the Dow Jones Industrial Average ($DJI) was up 1.2%. The tech-heavy Nasdaq (NDX) jumped 1.9% on more Apple (AAPL) gains into its stock split for Monday. The small caps (RUT) finished the week up a 2.7% as its trying to catch up to the other benchmarks that were out-performing the sector.



Option Volatility is dismal and non-existent as equities hit new highs. The CBOE Volatility Index (VIX) settled at 10.73 and had its lowest levels since before the recession in 2007.  The VIX broke some key support levels around the $11.30 level as option buying wanes.Stock and option volumes are extremely low but many are staying on the sidelines as bubble-type moves are worrying investors.



Treasury yields rose notably this past week. The biggest moves were Monday and Tuesday. At the week's start, yields rose moderately on news of a measure of Chinese manufacturing hitting a five-month high and on a corrected ISM report showed manufacturing in May at its strongest growth this year. After no change Wednesday and muted reaction to the Beige Book, rates nudged down after the ECB announced unprecedented policy measures to loosen monetary policy. Yields flattened Friday after the May jobs report which showed a moderate rise in payrolls and an unchanged unemployment rate at 6.3 percent.



The focus this week is on the consumer and Retail Sales. Last week showed improving employment gains and the question is whether the consumer will continue the spring thaw in spending. Motor vehicle sales were up strongly for May but will other components in retail sales follow this trend? Consumer confidence has been stalling and we get an early reading for consumer sentiment for June this week. Earnings season is all but over so focus will be on the moderate amount of data this week.


Major Earnings for the Upcoming Week:

Monday:  HTZ



Tuesday: OXM, PBY, SAIC, ULTA, UNFI



Wednesday: HRB, MVC



Thursday: CASY, FNSR, LULU, RFIL



Friday: N/A



Economic Releases (6/9-6/13):

Monday:

8:10 am CT – Fed’s Bullard Speaks

11:45 am CT – Fed’s Tarullo Speaks

12:30 pm CT – Fed’s Rosengren Speaks

                                                                                                                                                                                

Tuesday:

6:45 am CT – GS Store Sales

9:00 am CT– JOLTS

9:00 am CT – Wholesale Trade

12:00 pm CT – 3-year Note Auction Results

                                                                                                                                                                                                              

Wednesday:

6:00 am CT – MBA Purchase Applications

9:30 am CT – Oil Inventories

12:00 pm CT – 10-year Note Auction Results

1:00 pm CT – Treasury Budget

                    

Thursday:

7:30 am CT– Weekly Jobless Claims

7:30 am CT– Retail Sales

7:30 am CT –Import & Export Prices

9:00 am CT – Business Inventories

9:30 am CT– Natural Gas Inventories

12:00 pm CT – 30-year Bond Auction Results

                                                                                                                                                                                                        

Friday:

7:30 am CT – PPI

8:55 am CT – Consumer Sentiment

沁颍

6/9/2014

U.S. stock futures (/ES)are trading just slightly lower as the market looks to extend its latest rally. The S&P 500 (SPX) is now just below the 2000 milestone. Analysts believe it will take a couple of weeks for the index to reach that level, as it has not moved more than 1.0% in a single session in almost two months. The Dow Jones ($DJI) is also making its way toward its next major milestone of 17,000 and stands just 76 points away from that level. With a thin week of economic news and earnings, we could see the market continue to grind higher and reach those extended levels. McDonald’s (MCD) releases it same-store sales this morning ahead of the opening bell.



Risk-on trading helped extend losses in Treasuries this morning. Weakness in core Asian and European bonds also weighed on fixed income markets. The 10-year yield rose over the 2.6% level to hit 2.62%. A better than expected upward revision to Japan Q1 GDP to 6.7%, and a sharp rise in China's trade surplus saw a flow into stocks overseas. Today's U.S. calendar is void of any significant data and includes only Fed-speak from Bullard, Tarullo, and Rosengren. Supply will be a feature this week with the $62 B in Treasury coupon auctions, beginning with Tuesday's 3-year note sale. Data over the rest of the week, includes retail sales, trade prices, PPI, JOLTS, and consumer sentiment.



Stock Stories:

Merck (MRK) – M&A, at the top?! –The pharmaceutical giant is acquiring Idenix (IDIX) for $24.50 a share in a deal announced this morning.  Merck is using its cash hoard to buy the company for a premium of 230% above its closing price on Friday. Merck’s shares are slightly lower ahead of the opening bell.



Major Economic Reports:

8:10 am CT – Fed’s Bullard Speaks

11:45 am CT – Fed’s Tarullo Speaks

12:30 pm CT – Fed’s Rosengren Speaks



Notable Earnings:   

Monday - 6/9:

Before Market:   HTZ

After Market:   N/A



Tuesday – 6/10:

Before Market:  PBY, SAIC

After Market:  OXM, ULTA, UNFI

沁颍

6/10/2014

U.S. stock futures (/ES)are trading lower as the market is looking heavy after its record setting rally. The Dow and S&P have closed higher in eight of the past nine sessions and set all-time closing highs on several of those days. Option volatility remains at extremely low levels but did manage to bounce higher yesterday. The CBOE Volatility Index (VIX) rose 4% on Monday but hit levels on Friday not seen since before the recession in early 2007. Complacency is increasing but the lack of a negative catalyst can have equities continue their grind higher and keep volatility low.



Treasuries are a little lower in this morning. The yield on current 10-year is now firmly above the 2.6% level, which may become a near-term support level. Supply is weighing on Treasuries with the start of the $62 B in coupon auctions, beginning with today's 3-year Note sale. Overseas saw U.K. industrial production stronger than expected, while retail sales posted a modest gain. China CPI posted a 2.5% year over year rate, which was close to expectations and had stocks up over 1%. Today's calendar includes April JOLTS, April wholesale trade, and weekly chain store sales.



Stock Stories:

Apple (AAPL) – Banana Split –The tech product maker split its stock 7:1 yesterday.   The company stock price is now under $100 and has over 6 Billion shares outstanding.  The stock is up 69% from June 2013 and many are expecting a new set of products that are going to support the rally in the shares.



Major Economic Reports:

6:45 am CT – GS Store Sales - Down 2.8% for the week

9:00 am CT– JOLTS

9:00 am CT – Wholesale Trade

12:00 pm CT – 3-year Note Auction Results



Notable Earnings:   

Tuesday - 6/10:

Before Market:   PBY, SAIC

After Market:   OXM, ULTA, UNFI



Wednesday – 6/11:

Before Market:  MVC

After Market:  HRB, SIGM

沁颍

Weekend Update

June 15, 2014


Random unscheduled effects had an impact on markets this past week. Iraq is back in the news, congressional changes and economic indicators came in as unexpected. In spite of this, markets only retreated modestly after once again setting all-time highs at the start of the week. More M&A activity buoyed stocks on Monday along with the gains from the previous week. Mid-week saw some profit taking as Republican House leader Cantor was defeated in his Primary. The World Bank also lowered growth expectations, which had some small negative impact on equities. Thursday, stocks dipped on disappointingly low retail sales and a slight increase in initial jobless claims. Adding to the downdraft in the afternoon were comments by President Obama that he refused to rule out U.S. action in Iraq against Islamist militants who have surged out of the north toward Baghdad, threatening to divide the country. Worries about oil supplies impacted stocks as well as oil prices. Stocks shook off concerns to end the week as stocks finished Friday up slightly. The S&P 500 Index (SPX) was down 0.7% this past week while the Dow Jones Industrial Average ($DJI) led the losses off 0.9%. The tech-heavy Nasdaq (NDX) and the small caps (RUT) were both off by only 0.2%.



Option Volatility saw some life this past week on the slight downturn is stocks. The CBOE Volatility Index (VIX) rose 13% for the week but was coming off multi-year lows from the previous week’s slide.  The VIX has continually bounced off the $12 level over the last year and a half, but we did break key support levels as stocks hit all-time highs recently.  We may see some additional volatility in the markets if turmoil in Iraq picks up or economic news disappoints.  There is also the Fed to deal with this week as the FOMC concludes a two-day meeting on Wednesday.



Treasury yields were only modestly changed this past week despite the unexpected news. There were some mixed Treasury auctions this past week but the 30-year on Thursday continued to show that demand is strong for the safety on Bonds.The bottom line is that monthly data have been volatile most notably for consumer spending and producer prices. Traders and investors may look to average recent numbers instead of focusing on just one month. Oil Futures (/CL) may have a larger effect on markets this week as the turmoil in Iraq as crude markets in flux. Crude prices hit levels not seen since last September on the backs of supply disruptions in Iraq and speculators.



This week's highlights are the FOMC decision Wednesday, the FOMC quarterly forecasts, and the chair press conference after the decision. Fed taper is expected to remain on course with another $10 billion reduction in bond purchases. What is new is how newly appointed Fed Board members fit in and affect the tone of policy. For indicators, there are key updates for manufacturing and housing. Industrial production has shown recent signs of new life including production worker hours and manufacturing surveys. Housing has been a tough read as its been flat except for gains in the multifamily component. Although earnings season is just about over, there are a few key reports due this week.


Major Earnings for the Upcoming Week:

Monday:  KFY



Tuesday: ADBE, BOBE, LZB, UWN, YGE



Wednesday: ATU, FDX, JBL, RHT



Thursday: BBRY, KR, ORCL, PIR, RAD, SCHL, SWHC, TIBX



Friday: KMX. DRI



Economic Releases (6/16-6/20):

Monday:

7:30 am CT – Empire State Mfg. Survey

8:00 am CT – Treasury Int. Capital

8:15 am CT – Industrial Production

9:00 am CT – Housing Market Index

                                                                                                                                                                                

Tuesday:

6:45 am CT – GS Store Sales

7:30 am CT– Consumer Price Index (CPI)

7:30 am CT – Housing Starts

                                                                                                                                                                                                              

Wednesday:

6:00 am CT – MBA Purchase Applications

9:30 am CT – Oil Inventories

1:00 pm CT – FOMC Meeting Announcement

1:00 pm CT – FOMC Forecasts

1:30 pm CT – Chair Yellen Press Conference

                    

Thursday:

7:30 am CT– Weekly Jobless Claims

9:00 am CT– Philly Fed Survey

9:00 am CT –Leading Economic Indicators

                                                                                                                                                                                                        

Friday:

N/A

沁颍

6/16/2014

U.S. stock futures (/ES)are pointing to a slightly lower open as investors remain concerned about the advance of radical forces in Iraq. M&A activity continues to pick up as two new deals were announced.  The situation reminds us too much of past bubbles when buyout activity picks up at extended price levels. Option volatility may continue to bounce off recent lows as we finally have a catalyst for downside. The CBOE Volatility Index (VIX) is above the $12 level despite Friday’s gains and should remain firm if stocks stay in the red.



Treasuries are higher with the Risk Off trade gaining steam. Geopolitical risks, especially with concerns over the increasing violence in Iraq have fostered a flight to safety. The yield on the 10-year note dropped back below the 2.6% level once again. Overseas bond markets are higher and stocks are lower. Along with the worsening conditions in Iraq, the Ukraine is still an issue, while the ECB's stimulus continues to underpin. The euro zone's annual inflation rate came in at 0.5% for May, staying in the "danger zone" of below 1%. Meanwhile, attention will be shifting to the FOMC decision (Wednesday), along with Yellen's press conference and the new Fed projections. As for today, the calendar includes June Empire State manufacturing index, May industrial production and capacity utilization, the June homebuilder sentiment survey, and April Treasury capital flows data. The International Monetary Fund (IMF) releases its annual review of the U.S. economy today at 7:30 am CT. IMF Director Lagarde will hold a news conference to discuss the report.



Stock Stories:

Yelp.com (YELP) – Five Stars –YELP shares gained last week after Open Table (OPEN) agreed to be bought by Priceline (PCLN). The stock jumped 14% on Friday and may become a target as M&A activity picks up.



Major Economic Reports:

7:30 am CT – Empire State Mfg. Survey

8:00 am CT – Treasury Int. Capital

8:15 am CT – Industrial Production

9:00 am CT – Housing Market Index



Notable Earnings:   

Monday - 6/16:

Before Market:   N/A

After Market:   KFY



Tuesday – 6/17:

Before Market:  GAI, UWN

After Market:  ADBE, LZB

沁颍

6/17/2014

U.S. stock futures (/ES) are pointing to a slightly higher open as investors remain optimistic about the turmoil in Iraq. Both Oil (/CL) and Gold Futures (/GC) are pulling back as concerns from traders contracts. M&A activity continues to pick up as two new deals were announced.  The bullish trend is still present and investors continue to ignore any negative news. Despite yesterday’s small advance, option volatility actually rose slightly.  While stocks continue to grind back towards all-time highs, traders are still balancing their portfolios in the option market by purchasing option protection, albeit modestly. The CBOE Volatility Index (VIX) is now firmly above $12 but should pull in if stocks remain in positive territory.



Bonds are little changed with a slight bearish leaning, in sync with modest declines in bonds overseas. The 10-year Treasury yield traded narrowly around 2.60%. Stocks are mixed with Asian stocks mostly lower, European markets slightly higher and U.S. equity futures flat. Data overnight showed several surprises with Chinese foreign direct investment declining year over year. German confidence fell to 29.8, and U.K. CPI slowed to 1.5%. In the U.S. the FOMC begins its 2-day policy meeting. Along with tomorrow's announcement, there's a Yellen press conference and the release of new Fed forecasts. Data on tap today includes May CPI, housing starts, and weekly chain store sales.



Stock Stories:

Tesla (TSLA) – Charging –The electric car-makers stock spike over 8% yesterday.   Two of Tesla's (TSLA) competitors in the electric car space, Nissan and BMW Group have expressed an interest in collaborating on charging technology.



Major Economic Reports:

6:45 am CT – GS Store Sales

7:30 am CT– Consumer Price Index (CPI)

7:30 am CT – Housing Starts



Notable Earnings:   

Tuesday - 6/17:

Before Market:   GAI, UWN

After Market:   ADBE, LZB



Wednesday– 6/18:

Before Market:  ATU, FDX

After Market:  JBL, RHT

沁颍

6/18/2014

Stock futures (/ES) are pointing to a flat to slightly higher open as traders look to continue the grind upwards. Yesterday’s poor housing data and a hotter than expected read on inflation did not prevent the Bulls from buying early morning weakness once again. The FOMC finishes up a two day meeting today with a policy decision and press conference from Chair Yellen. The FOMC is expected to further reduce its bond-buying program by $10 billion to $35 billion a month, and leave unchanged the Fed funds policy target of 0% to 0.25%.The CBOE Volatility Index (VIX) remains near the $12 but may strengthen on any hiccups out of the Fed today.



Treasuries are a little higher on ‘’Risk-Off’ flows, in tandem with bonds in Europe, amid reports Sunni militants attacked Iraq's largest oil refinery. The 10-year yield has dipped slightly to 2.64%. Meanwhile, the Bank of England minutes, as expected, reflected the increased hawkishness. This may signal higher rates sooner than expected. European markets were modestly higher as was Japan. The FOMC is the focus today, along with the Fed forecasts and Yellen's press conference. The MBA reported mortgage applications declined 9.2% in the week ended June 13, mostly erasing the prior week's 10.3% increase.



Stock Stories:

Adobe Systems (ADBE) – Jump on the Bandwagon –The software company and creator of PDF and Photoshop posted better than expected earnings after the bell yesterday. Cloud and digital creation subscriptions were the drivers to the positive quarter. The shares are up over 9% ahead of the opening bell on the heels of a massive amount of call option buying yesterday.



FedEx Corp. (FDX) – Delivered – The shipping giant posted better than expected quarterly results on higher top line Revenue figures. The company confirmed FY15 expectations on continued global growth.  The shares are up 3% in the pre-market.



Major Economic Reports:

6:00 am CT – MBA Purchase Applications – Down 9.2%

9:30 am CT – Oil Inventories

1:00 pm CT – FOMC Meeting Announcement

1:00 pm CT – FOMC Forecasts

1:30 pm CT – Chair Yellen Press Conference



Notable Earnings:   

Wednesday - 6/18:

Before Market:   ATU, FDX

After Market:   JBL, RHT



Thursday – 6/19:

Before Market:  BBRY, KR, PIR, RAD

After Market:  ORCL, SWHC, TIBX

沁颍

6/20/2014

U.S. equity futures (/ES) are trading relatively flat ahead of today's “quadruple witching” day. Today the stock index futures, stock index options, stock options, and single stock futures will all expire for the monthly June cycle. The day’s trading could be marked by higher volatility and higher volume but only if we can get a catalyst for movement. There will be little else for investors to key in on as no significant economic data is due to be released.Option volatility continues to weaken and is showing no signs of reversing. The CBOE Volatility Index (VIX) is under $11 and could potentially end up below $10 into the July 4thholiday.  Last time the VIX traded at these levels was just before the financial collapse in 2007.



Global bonds are mostly lower with the U.S. Treasury market the underachiever. The 10-year yield has risen to 2.64% as bonds turned negative throughout yesterday’s session. Overseas markets were mixed on light volume and there wasn't a lot of news overnight. The IMF has called on the ECB to consider a large scale asset purchase program, though market hopes for such are fading.



Stock Stories:

Darden restaurants (DRI) – Free Stale Breadsticks –The company falls short of analysts’ estimates with its quarterly report as weak traffic trends persists. All three restaurant concepts showed higher pricing during the quarter. The shares are down about 3% ahead of the opening bell.



Oracle Corp. (ORCL) – Re-Boot – The tech giant posted a disappointed quarterly report after the close yesterday.  The company is trying to build its cloud offerings but continues to struggle with competition. The shares are down 6% in the pre-market.



Major Economic Reports:

Quadruple witching Expiration



Notable Earnings:   

Friday - 6/20:

Before Market:   KMX. DRI

After Market:   N/A



Monday – 6/23:

Before Market: N/A

After Market:  MU, SONC