MARKET BLOG

Sign up for emails

Subscribe to the complimentary Market Blog to get your daily dose of market news, upcoming earnings and industry events, from a trader's point of view. Each entry is posted daily right here and you can sign up to have all new entries emailed directly to you.

Apr 02, 2020 - Market Blog

4/2/2020

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call877.733.6786*

 

The Claims Just Keep Coming…

The U.S. Department of Labor reported initial jobless claims for the week that ended March 28th of 6.65 million, which almost doubled last week’s record number of 3.35 million claims.  Economists were looking for a figure of 3.35 million.  S&P 500 futures (/ES) were trading over 1% higher in the pre-market prior to the announcement, but as of this writing have given back all of those gains and then some.  Part of the gains overnight came on the heels of the Fed announcing that it would allow banks to take on more leverage to help deal with the severe lack of liquidity in Treasuries.

 

Bubbling Crude

U.S. crude oil futures (/CL) surged over 10% overnight after reports surfaced that China was set to start buying oil at the current advantageous prices to build up their strategic reserves.  Oddly enough, on the flip side, the costs to move the commodity has jumped, and it now costs $10 to transport a barrel of oil from the U.S. to China.  In addition, there are hopes of a price war truce between Saudi Arabia and Russia may materialize.

 

Market Movers and Shakers(as of this writing)

S&P 500 futures (/ES) -0.8%, near 2426

U.S. Crude Oil futures (/CL) +8%, near $21.90 a barrel

CBOE Volatility Index (VIX) unchanged,  near 57

U.S. Gold Futures (/GC) +1.8%, near $1620 an ounce

 

Major Economic Reports:

6:30 am CT – Challenger Job-Cut Report

7:30 am CT – International Trade

7:30 am CT – Jobless Claims

9:00 am –       Factory Orders

9:30 am CT – EIA Natural Gas Report

10:00 am C – 3-Yr Note and 30-Yr Bond Announcement

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

 

Notable Earnings:

Thursday:

A.M. – APOG, AYI, KMX, SCHN, WBA

P.M.– CHWY, FC, PLAY, RECN

 

Friday:

A.M. – STZ, TAYD

P.M. – N/A

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Apr 01, 2020 - Market Blog

4/1/2020

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call877.733.6786*

 

Is the new quarter any shinier than the old one?

U.S. stock futures are pointing lower this morning following a first quarter that was the worst on record for the Dow Jones Industrial Average ($DJI) and the S&P 500 (SPX), which fell far from the record highs that equites set last month.  The White House said the virus, which has infected 862,234 globally and left 42,404 dead, could kill between 100,000 and 200,000 Americans if full mitigation is implimented.  For the first quarter, the S&P 500 Index was down 20% while the Dow Jones saw a decline of 23.1%.  Oil prices are down slightly this morning as the coronavirus pandemic has caused many countries to effectively shut down production as the world worries that oil prices could soon turn negative as countries run out of places to store the black gold.   The virus has created an unprecedented demand shock in energy markets, which has resulted in oil futures declining more than 66% in the first quarter.

 

Honey, let’s go house shopping

After rising for two weeks, mortgage rates have plunged to near record lows, however mortgage applications to buy a home plummeted 24% annually as the coronavirus is scaring away potential homebuyers.  Refinancing applications have spiked 26% for the week and are 168% higher than a year ago.  Home buying traffic is also being stalled due to restrictions that several states have ordered on in-person activities, with many open houses being viewed online.  Unemployment continues to hurt the housing market as well, as  ADP reported that private companies cut 27,000 employees for the period through March 12th, before the worst of the coronavirus-induced economic freeze.  Actual losses for the month were far worse as indicated by the millions people who already filed unemployment claims.  The market is bracing for the March employment situation, which set to be released this Friday at 7:30 am CT.   

 

Market Movers and Shakers(as of this writing)

S&P 500 futures (/ES) -3.3%, near 2484

U.S. Crude Oil futures (/CL) -0.5%, near $20.40 a barrel

CBOE Volatility Index (VIX) +10.8%, near 59.40

U.S. Gold Futures (/GC) +0.1%, near $1599 an ounce

Xerox (XRX) -3.0%, near $18.25 after dropping its hostile bid for HP (HPQ)

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

7:00 am CT – Bank Reserve Settlement

7:15 am CT – ADP Employment Report

8:00 am CT – PMI Manufacturing Index

9:00 am CT – Construction Spending

9:00 am CT – ISM Mfg Index

9:30 am CT – EIA Petroleum Status Report

 

Notable Earnings:

Wednesday:

A.M. – LW, UNF

P.M. – AMBCP, ACFN, ATOS, NG

Thursday:

A.M. – APOG, AYI, KMX, SCHN, WBA

P.M.– CHWY, FC, PLAY, RECN

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Mar 31, 2020 - Market Blog

3/31/2020

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

Quarter Pounder!

Today marks the end of one the wildest quarters ever on record after 52 week highs were quickly derailed by the crippling effects of the Coronavirus. The S&P 500 (SPX) is currently down 18.7% over the previous 3 months despite a comparable 17% improvement just since March 23 lows. The DOW ($DJI) fared even worse with an eye-opening 21.8% of its value being erased since January 1st.  This period will mark the worst quarter for the benchmark since 1987 with an additional 1% loss also being indicated ahead of the opening bell. Oil (/CL) saw its worst quarterly performance ever after more than 60% of value imploded with demand coming to a standstill at the same time a price war amongst top producing countries spun out of control. Trading typically sees more volatility during the last day of the quarter as various portfolio balancing is expected to take place.

 

Don’t Pack Your Bags Just Yet

As the Coronavirus crisis continues, more and more travel and leisure companies are doing whatever it takes to survive.  Carnival Cruise lines (CCL) is the latest victim after telling investors that they are now planning to post a net loss for FY2020. The company will suspend its dividend and stock-buyback program in an attempt to strengthen its balance sheet. Norwegian Cruise Lines (NCLH) just extended their cancellation window through May 10th as their earliest voyage is expected with liabilities still mounting.  American Airlines (AAL) is currently  preparing to tap the government for up to $12 billion in aid in a valiant effort to avoid employee layoffs or pay cuts for at least the next 6 months as hope remains that life with return to normal by then.  

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) -0.62%, near 2595

U.S. Crude Oil futures (/CL) +5%, near $21.03 a barrel

CBOE Volatility Index (VIX) -4.6%, near 56.83

Restoration Hardware (RH) -12%, near $104 after missing on both top and bottom-line estimates

 

Major Economic Reports:

 

7:55 am CT – Redbook

8:00 am CT – S&P Core-logic Case-Shiller HPI

8:45 am CT – Chicago PMI

9:00 am CT – Consumer Confidence

2:00 PM CT – Farm Prices

 

Notable Earnings:

 

Tuesday:

A.M. –CAG, ICLK, IMAB, MKC

P.M. – BB, LNDC, PAYS

 

Wednesday:

A.M. – LW, UNF

P.M. – AMBCP, ACFN, ATOS, NG

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Mar 30, 2020 - The Week Ahead

3/30/2020

 

The Week Ahead

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call877.733.6786*

 

The Sunday Scarries

After moving over 3% lower in the overnight session, the S&P 500 futures (/ES) have rebounded and are over 1% higher on the session.  Markets retreated after President Trump gave up on his ambitious Easter timeline to loosen up his social distancing recommendations, and instead extended the guidelines through April 30th .  Markets continue to be volatile and the S&P 500 Volatility Index (VIX) is currently above 60, a sign of the extreme price action we are seeing.

 

The Crude Reality

U.S. Crude oil futures are sharply lower this morning, after briefly breaking through the $20 level in the overnight session.  The oil market is dealing with a large drop in demand as the world economy has ground to halt.  The grounding of most of the world’s aircraft alone has taken 5 million barrels of demand off the table.  This has forced some producers to have to pay to have their crude taken away.

 

Pre-Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) +1%, near 2551

U.S. Crude Oil futures (/CL) -5.7%, near $20.25 a barrel

CBOE Volatility Index (VIX) -3.5% near 63.22

U.S. Gold Futures (/GC) -0.6%, near $1,643

 

Economic Releases (3/30-4/3):

Monday:

7:30 am CT – Pending Home Sales Index

9:00 am CT – Dallas Fed Mfg. Survey

10:30 am CT– 3-Month & 6-Month Bill Auction

 

Tuesday:

7:55 am CT – Redbook

8:00 am CT – S&P Corelogic Case-Shiller HPI

8:45 am CT – Chicago PMI

9:00 am CT – Consumer Confidence

2:00 PM CT – Farm Prices

 

Wednesday:

6:00 am CT – MBA Mortgage Applications

7:00 am CT – Bank Reserve Settlement

7:15 am CT – ADP Employment Report

8:00 am CT – PMI Manufacturing Index

9:00 am CT – Construction Spending

9:00 am CT – ISM Mfg. Index

9:30 am CT – EIA Petroleum Status Report

 

Thursday:

6:30 am CT – Challenger Job-Cut Report

7:30 am CT – International Trade

7:30 am CT – Jobless Claims

9:00 am –       Factory Orders

9:30 am CT – EIA Natural Gas Report

10:00 am C – 3-Yr Note and 30-Yr Bond Announcement

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

 

Friday:

7:30 am CT – Employment Situation

8:45 am CT –  PMI Services Index

9:00 am CT –  ISM Non-Mfg. Index

12:00 am CT– Baker-Hughes Rig Count

 

Major Earnings for the Upcoming Week (3/30-4/3):

Monday:

A.M. – CALM, CYD

P.M. – CSSE, DARE

Tuesday:

A.M. –CAG, ICLK, IMAB, MKC

P.M. – BB, LNDC, PAYS

 

Wednesday:

A.M. – LW, UNF

P.M. – AMBCP, ACFN, ATOS, NG

 

Thursday:

A.M. – APOG, AYI, KMX, SCHN, WBA

P.M.– CHWY, FC, PLAY, RECN

 

Friday:

A.M. – STZ, TAYD

P.M. – N/A

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

 

Showing Week of Mar 23, 2020

<< Prev | Next >>

Mar 27, 2020 - Market Blog

3/27/2020

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call877.733.6786*

 

I’m Just a ‘Stimulus’ Bill

U.S. stock futures are pointing sharply lower this morning following a steep rally sparked by increasing expectations of massive fiscal stimulus.  The S&P 500 (SPX) rallied more than 6% on Thursday after the Senate passed a $2 trillion economic stimulus bill aimed at mitigating the economic damage from the coronavirus outbreak.  A massive spike in weekly jobless claims could not halt the market’s run higher on Thursday.  The Labor Department reported that jobless benefit claims had soared to 3.28 million last week, easily eclipsing the previous record of 695,000.

 

We may not have brick and mortar, but we still have Yoga

Lululemon (LULU) reported earnings of $2.28 per share which beat the analyst consensus estimate of $2.24.  It was over a 23% increase over earnings for $1.85 per share from the same period last year on sales of $1.4 billion.  As with many companies are announcing, they did not give any financial projections for the year, citing the coronavirus pandemic.  However, they have opened all but one of its retail locations in China, while retail locations in North America, Europe and elsewhere around the world remained closed.  Meanwhile, retail giant Gap (GPS), the parent of Gap, Old Navy and Banana Republic pulled its full-year forecast that it had issued earlier this month and also suspended its dividend, as all its stores are closed due to the coronavirus outbreak.

 

Market Movers and Shakers(as of this writing)

S&P 500 futures (/ES) -3.3%, near 2520

U.S. Crude Oil futures (/CL) -3.5%, near $21.75 a barrel

CBOE Volatility Index (VIX) +13.00%, near 69

U.S. Gold Futures (/GC) -1%, near $1643 an ounce

 

Lululemon (LULU) -3.5%, near $193.00 after earnings release

Gap (GPS) -3.0%, near $8.25 after suspending its dividend

 

Major Economic Reports:

7:30 am CT – Personal Income and Outlays

9:00 am CT – Consumer Sentiment

12:00 am Ct – Baker-Hughes Rig Count

 

Notable Earnings:

Friday:

A.M. – SCWX

P.M. – N/A

Monday:

A.M. – CALM, CYD, GRWG

P.M. – CSSE, EVSI, HSON, RH

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Mar 26, 2020 - Market Blog

3/26/2020

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

Getting our groove back

U.S. Equities (/ES) were finally able to lock in back-to-back winning sessions yesterday for the first time over this tumultuous month of March despite a late afternoon retreat. The much awaited Senate vote finally passed on a $2 Trillion stimulus package after much delay which still needs to clear both the house and the President likely by the end of the week although little resistance is expected. Deaths attributed to the Coronavirus just passed 1,000 domestically as the epidemic curve still isn’t due to peak for yet another 2-3 weeks.  The CBOE Volatility Index (VIX) has started to show signs of contracting near 60 which is encouraging considering the spike in the 80 range earlier in the month.  

 

Tough Job!

Initial jobless claims just shot to a record 3.3 million over the course of the last week as much of the nation’s economy remains at a virtual standstill. The retail and hospitality sectors were the hardest hit with several states still in lockdown amid “shelter in place” restrictions. Equity Futures (/ES) saw earlier losses erased after the report as the unsurprising spike came to light. Small businesses are desperate to tap into a government loan facility which is part of the stimulus bill in an attempt to help employees return to work.  Full employment was seen as recently as 4 weeks ago before the drastic change in course with hopes of a snap-back reversal once the pandemic is finally under control.  Lululemon (LULU)  is scheduled to report after the close today as a possible retail gauge to determine how online sales are helping to compensate for several brick-and-mortar store closings. 

 

Pre-Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) -0.5%, near 2453

U.S. Crude Oil futures (/CL) -3.4%, near $23.66 a barrel

CBOE Volatility Index (VIX) -3.8%, near 61.83

U.S. Gold Futures (/GC) +1.2%, near 1,652

 

Major Economic Reports:

 

7:30 am CT – Jobless Claims

7:30 am CT – Corporate Profits

7:30 am CT – GDP

7:30 am – International Trade in Goods

9:30 am CT – EIA Natural Gas Report

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

 

Notable Earnings:

 

Thursday:

A.M. – CSIQ, ERJ, FDS, LX, SIG, TITN, VIOT, WOR

P.M.AFYA, GME, GTBIF, HTHT, LULU, SAIC, SPWH

 

Friday:

A.M. – SCWX

P.M. – N/A

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Mar 25, 2020 - Market Blog

3/25/2020

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call877.733.6786*

 

Do We Have a Deal?

A deal has reportedly been reached between Senators from both sides of the aisle and the White House to initiate a $2 trillion stimulus package to help bolster the U.S. economy, while the country combats the coronavirus outbreak.  The package includes $350 billion to help small businesses, $500 billion in loan guarantees, and direct payment of $1,200 to those that are not high earners.  The bill is expected to be voted on by the Senate later today, before moving on to the House of Representatives, and eventually on to President Trump’s desk for his signature.

 

Off and Jogging

Athletic wear giant, Nike (NKE) reported earnings after the close yesterday, beating sales expectations for its February quarter, despite downward pressure on its earnings from the impact of the coronavirus outbreak.  The company reported third quarter revenue of $10.1 billion, which came in above analyst estimates of $9.8 billion.  Shares of NKE were almost 10% higher in the pre-market.

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) 0.2%, near 2443

U.S. Crude Oil futures (/CL) -1.8% near $23.60 a barrel

CBOE Volatility Index (VIX) +2.5%, near 63.20

U.S. Gold Futures (/GC) -1%, near $1642 an ounce

 

Major Economic Reports:

6:00 am CT – MBA Mortgage Applications

7:30 am CT – Durable Goods Orders

8:00 am CT – FHFA House Price Index

9:00 am CT – State Street Investor Confidence Index

9:30 am CT – EIA Petroleum Status Report

 

Notable Earnings:

  

Wednesday:

A.M. – CXRXF, ESLT, PAYX, TIGR, WGO

P.M. – FUL, MU, RKDA, SCVL, STON, WLMS

 

Thursday:

A.M. – CSIQ, ERJ, FDS, LX, SIG, TITN, VIOT, WOR

P.M.AFYA, GME, GTBIF, HTHT, LULU, SAIC, SPWH

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Mar 24, 2020 - Market Blog

3/24/2020

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call877.733.6786*

 

It seems like we are so close

U.S. stock futures (/ES) are posting sharp gains this morning on expectations that leaders in Capitol Hill will iron out their differences and finally come up with a stimulus bill to cushion the economic blow of the COVID-19 pandemic. Senator Charles Schumer and Treasury Secretary Mnuchin are getting closer on the detiails of the $2 trillion stimulus bill.  Negotiations on the bill are set to continue being hashed out this morning.  Today's market moves follows yet another volatile day on Monday as investors resorted back to pessimism following 100 deaths in a single day which pushed most of the major indexes to a new multiyear low as the procedural vote in the Senate failed for the second time in 24 hours. Currently, S&P 500 futures (/ES) are up 4.90%, which is near ‘limit up’(5%) status, becoming a much too common theme in today’s market.

 

No Dividend for You

As the Coronavirus crisis continues, companies are suspending dividends and stock-buybacks. Department-store chain Nordstrom (JWN) said earlier this week that it is suspending share repurchases and its quarterly dividend starting in its fiscal second quarter.  Airbus SE (EADSF) and Royal Dutch Shell (RDS/A) joined in the scramble of companies slashing costs, shelving buybacks, or cutting dividends and asking banks to extend credit.  U.S. automaker Ford Motor (F) said that it was suspending its dividend to try to preserve its dwindling cash pile while mining giant Freeport-McMoRan (FCX) announced that it was cutting its dividend as well. More are expected over the coming days as companies struggle to keep operations fully funded.  

 

Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) +4.90%, near 2327

U.S. Crude Oil futures (/CL) +3.65%, near $24.20 a barrel

CBOE Volatility Index (VIX) -11.2%, near 54.70

U.S. Gold Futures (/GC) +6.8%, near $1670 an ounce

 

Major Economic Reports:

7:55 am CT – Redbook

9:00 am CT – New Home Sales

9:00 am CT – Richmond Fed Manufacturing Index

 

Notable Earnings:

 

Tuesday:

A.M. – CMCM, INFO, NEOG, QIWI

P.M. – AIR, BRP, GO, HOME, NKE, NOAH, OPGN, PUMP, SCS, SNX

 

Wednesday:

A.M. – CXRXF, ESLT, PAYX, TIGR, WGO

P.M. – FUL, MU, RKDA, SCVL, STON, WLMS

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com

Mar 23, 2020 - The Week Ahead

3/23/2020

 

The Week Ahead

 

Option Trade Ideas for your Inbox!  Get 2 Free Strategies for 60 days email support@tradewise.com or call877.733.6786*

 

Another Wild Ride

Oil prices (/CL) quickly reversed course this morning after posting its worst weekly performance since 1991 on Friday.  Crude jumped 4% after the Federal Reserve gave the nod to aggressive asset purchases in a desperate attempt to steady markets.  Simultaneously, treasury yields plummeted as the 10-year dove below 0.7% off the same announcement. Various asset classes continued to see wild swings over the weekend as a stalemate in congress over a much-needed stimulus package forced a limit-down scenario yesterday for equity futures before a 3% surge occurred moments ago ahead of the open.  With a final vote now postponed until noon, investors will be closely watching developments as the Federal Government jumps into action. 

 

No Guidance

More companies are throwing their annual guidance out the window as the art of forecasting revenue becomes a futile quest with store closures and “shelter in place” scenarios extending throughout the country. John Deere (DE) is the latest company to withdraw its 2020 forecast as some manufacturing operations are being temporarily shuttered. Best Buy (BBY) also pulled its guidance over the weekend at the same time suspending its aggressive share buyback program. The electronics retailer will be limiting its store access by only fulfilling curbside orders for the foreseeable future which will likely put a damper on earnings potential over the next quarter. 

 

Pre-Market Movers and Shakers (as of this writing)

S&P 500 futures (/ES) +1.97%, near 2333.50

U.S. Crude Oil futures (/CL) +1.9%, near $23.06 a barrel

CBOE Volatility Index (VIX) -3.74% near 63.71

U.S. Gold Futures (/GC) +2.59%, near $1,522

 

Major Earnings for the Upcoming Week (3/23-3/27):

 

Monday:

7:30 am CT – Chicago Fed National Activity Index

2:00 pm CT – Treasury International Capital

Tuesday:

7:55 am CT – Redbook

9:00 am CT – New Home Sales

9:00 am CT – Richmond Fed Manufacturing Index

Wednesday:

6:00 am CT – MBA Mortgage Applications

7:30 am CT – Durable Goods Orders

8:00 am CT – FHFA House Price Index

9:00 am CT – State Street Investor Confidence Index

9:30 am CT – EIA Petroleum Status Report

Thursday:

7:30 am CT – Jobless Claims

7:30 am CT – Corporate Profits

7:30 am CT – GDP

7:30 am – International Trade in Goods

9:30 am CT – EIA Natural Gas Report

3:30 pm CT – Fed Balance Sheet

3:30 pm CT – Money Supply

Friday:

9:00 am CT – Personal Income and Outlays

9:00 am CT – Consumer Sentiment

12:00 am Ct – Baker-Hughes Rig Count

 

Major Earnings for the Upcoming Week (3/23-3/27):

 

Monday:

A.M. – BWAY, SY

P.M. – RAVN

Tuesday:

A.M. – CMCM, INFO, NEOG, QIWI

P.M. – AIR, BRP, GO, HOME, NKE, NOAH, OPGN, PUMP, SCS, SNX

Wednesday:

A.M. – CXRXF, ESLT, PAYX, TIGR, WGO

P.M. – FUL, MU, RKDA, SCVL, STON, WLMS

Thursday:

A.M. – CSIQ, ERJ, FDS, LX, SIG, TITN, VIOT, WOR

P.M.AFYA, GME, GTBIF, HTHT, LULU, SAIC, SPWH

Friday:

A.M. – SCWX

P.M. – N/A

 

Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*

 

*Follow us on Twitter @TradeWise

 

**BOLD above indicates important and potential market-moving news and information

 

TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com