The Asian/Pacific markets closed with a lean to the downside, but movement was minimal (no big winners or losers). Singapore did well; Japan, India and New Zealand were weak. Europe is currently mostly up. London, Germany, the Netherlands, Sweden and Switzerland are doing the best. Futures in the States point towards a moderate gap up open for the cash market.
The dollar is up. Oil and copper are down. Gold and silver are flat. Bonds are down.
The market traded quietly yesterday. The range was small; volume was on the lighter side; all the S&P’s movement took place within the high and low of Friday’s intraday range.
Here’s the S&P’s daily chart. Since breaking out two weeks ago, the index hasn’t done much (the market is, after all, mean reverting in the near term). Today’s open will be near Friday’s high. This chart is rock-solid. There’s no reason to be anything but long.
Stock headlines from barchart.com…
(will be posted when barchart posts the headlines)
Monday’s Key Earnings
21st Century Fox (NASDAQ:FOXA) +1% AH as cable profits improved.
Hasbro (NASDAQ:HAS) +14.1% growing Frozen-themed sales.
Tyson Foods (NYSE:TSN) -3.5% disclosing an SEC investigation.
Today’s Economic Calendar
8:30 International Trade
8:30 Gallup US ECI
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $24B, 3-Year Note Auction
3:00 PM Consumer Credit