Trade Results of M.A. Perry Trader and Founder of
WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
wrbtrader (more info about me):
http://www.thestrategylab.com/wrbtrader.htmFree Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164 Archive Real-Time Chat Logs (timestamp, entries/exits, position size):
http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20 Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm TheStrategyLab Reviews: http://www.thestrategylab.com/thestrategylab-reviews.htm Price Action Trading: http://www.thestrategylab.com/price-action-trading.htmTheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
Stocktwits @
http://stocktwits.com/wrbtrader (24/7)
Twitter @
http://twitter.com/wrbtrader (24/7)
Attachment:
091917-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+50.00.png [ 96.18 KiB | Viewed 224 times ]
click on the above image to view today's performance verification Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @
$0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @
$50.00 dollars or +1.00 points, Light Crude Oil CL ($CL_F) futures @
$0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @
$0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @
$0.00 dollars or +0.0000 ticks.
Total Profit @ $50.00 dollars Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis.Russell 2000 Emini RTY Futures: 1 tick or 0.10 = $5.00 dollars and there's more contract information @
CMEGroup (formerly as TF @
The ICE)
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @
CMEGroup Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @
CMEGroup Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @
CMEGroupEuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @
CMEGroup Today's Trade Log: All of my live trades are posted
real-time in the timestamp ##TheStrategyLab
free chat room via the user name
wrbtrader for anyone to do a real-time review. The live trade is posted 3.2 seconds on average after the trade confirmation via an auto script to minimize delays in posting of my trades. You can review
today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post
real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility even though the free chat room is not design to be an education chat room because the education is
only performed at the forums in the private threads. Its all
archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=171&t=2650
##TheStrategyLab Chat Room is
free. The free chat room is
not a signal calling trading room. I do
not mentor (never have) although I get many requests to do mentoring. There is education but
only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of TheStrategyLab free chat room is for you to use as your
trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. In addition, we
highly recommend that you use the free chat room with a professional trade journal software like tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because they can provide you with the
quantitative statistical analysis of your trading. You can then download your results and post them in your private thread at the forum. Also, you can use TheStrategyLab free chat room to ask real-time WRB Analysis questions. Yet, please do
not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for
security reasons. TheStrategyLab free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages, many different mobile apps and many different types of social media software can be used to log in. I'm the
moderator of the free chat room via the user name
wrbtrader. Thus, I
keep the peace between members without hesitation in removing trouble makers so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled.
TheStrategyLab free chat room is
not for traders looking for someone to hold their hands and tell them when to buy or sell. TheStrategyLab is for you to post
your real-time analysis or trades so that you can
review as feedback for any trading day to provide valuable information about the results in
your broker statements. Access instructions for chat room @
http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164Quote:
Also, posted below for you to
review are direct links to information about my
price action trade methodology and
trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my
personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.
Price Action Analysis via Advance WRB Analysis Tutorial Chapters @
http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a
free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @
http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718 Analysis -----> Trade Signals
Trade Signal Strategies via Volatility Trading Report (VTR) @
http://www.thestrategylab.com/VolatilityTrading.htm and there's a
free trade signal strategy @
http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions)
prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).
Daily Trading Plan Routine @
http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=327&t=3486 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.
-----------------------------
Market Context Summaries The below summaries by
Bloomberg,
Briefing,
Reuters and
Yahoo! Finance helps me to do a quick review of the fundamentals,
FED/
ECB/
BOE/
IMF actions or any important global economic events (e.g.
Eurozone,
MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in
trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the
market context for price action trading before the appearance of my
technical analysis trade signals. Therefore, I maintain these
archives for easy review to allow me to understand what was happening on any given trading day
in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can
not get from my broker PnL statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.
Attachment:
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click on the above image to view today's price action of key markets The Market at 04:30PM ETDow: +39.45… | Nasdaq: +6.68… | S&P: +2.78…
NASDAQ Vol: 1.8 bln… Adv: 1278… Dec: 1389…
NYSE Vol: 809.3 mln… Adv: 1522… Dec: 1374…
Moving the Market
Wait-and-see mode ahead of Wednesday's FOMC policy statement
Telecoms rally following reports that T-Mobile US (TMUS) and Sprint (S) are actively engaged in merger talks
Financial sector extends recent rally while health care sector lags
Sector Watch
Strong: Financials, Energy, Materials, Technology, Telecom Services
Weak: Consumer Discretionary, Health Care, Consumer Staples, Utilities, Real Estate
04:30PM ET
[BRIEFING.COM] Equities moved higher once again on Tuesday, but conviction was weak ahead of the latest FOMC policy statement, which will be released on Wednesday afternoon. The S&P 500 (+0.1%), the Nasdaq (+0.1%), and the Dow (+0.2%) closed at new record highs, but the small-cap Russell 2000 (-0.1%) lagged a bit, settling just below its unchanged mark.
Wireless names were in focus on Tuesday following reports of renewed merger talks between Sprint (S 8.20, +0.52) and T-Mobile US (TMUS 65.42, +3.62). The two companies spiked 6.8% and 5.9%, respectively, and helped the S&P 500's telecom services sector (+2.3%) finish at the top of the day's sector standings--by a comfortable margin.
Financials also outperformed, sending the influential financial sector (+0.8%) to its seventh win in eight sessions, thanks in part to a slight steepening of the yield curve--which bodes well for lenders. The yield on the 2-yr Treasury note finished flat at 1.39% while the benchmark 10-yr yield climbed one basis point to 2.24%.
Conversely, health care stocks sold off on Tuesday with providers like UnitedHealth (UNH 194.65, -3.54) and Aetna (AET 156.04, -4.96) getting hit the hardest; the two companies dropped 1.8% and 3.1%, respectively. The health care sector (-0.8%) finished near the bottom of the sector standings, surpassed only by the real estate group (-1.0%).
On the earnings front, AutoZone (AZO 535.19, -28.21) plunged 5.0% after its better-than-expected bottom-line results failed to justify its recent four-week rally; AZO shares advanced over 10.0% from August 18 to yesterday's close. The S&P 500's consumer discretionary sector (-0.1%), which houses automotive retailers, finished lower for the fourth session in a row.
Also of note, firearm stocks spiked in late-afternoon action following a Daily Mail report the President Trump is looking to ease industry export restrictions. Names like Sturm Ruger (RGR 54.35, +6.55), American Outdoor Brands (AOBC 15.70, +1.44), and Vista Outdoor (VSTO 23.00, +0.70) settled higher by 13.7%, 10.1%, and 3.1%, respectively.
In politics, President Trump made his U.N. debut on Tuesday, taking a hard stance against North Korea and the Iran nuclear deal. Also, reports indicate that Senate Majority Leader Mitch McConnell (R-KY) is seriously considering a Senate vote on a new health-care reform bill.
Reviewing Tuesday's batch of economic data, which included August Housing Starts, August Import/Export Prices, and the Current Account Balance for the second quarter:
Housing starts decreased to a seasonally adjusted annualized rate of 1.180 million units in August (Briefing.com consensus 1.170 million), down from a revised 1.190 million units in July (from 1.155 million). Building permits increased to a seasonally adjusted 1.300 million in August (Briefing.com consensus 1.212 million) from a revised 1.230 million in July (from 1.223 million).
The key takeaway from the report is that the pace of single-family starts isn't quick enough to alleviate the supply pressures in the housing market that are crimping affordability for prospective homeowners. That isn't expected to improve next month either when the force of the impact from Hurricanes Harvey and Irma weighs on housing starts activity.
Import prices excluding oil rose 0.3% in August after declining 0.1% in July. Export prices excluding agriculture increased 0.7% in August after rising 0.3% in July.
The key takeaway from the Import-Export Price Index report for August is that it will keep the possibility of a December rate hike on the table.
The current account deficit for the second quarter totaled $123.1 billion (Briefing.com consensus -$115.1 billion). The first quarter deficit was revised to $113.5 billion from $116.6 billion.
On Wednesday, investors will receive just two economic reports--the weekly MBA Mortgage Applications Index and the August Existing Home Sales Report (Briefing.com consensus 5.42 million)--at 7:00 ET and 10:00 ET, respectively. In addition, the FOMC will release its latest policy directive at 14:00 ET.
Nasdaq Composite +20.0% YTD
Dow Jones Industrial Average +13.2% YTD
S&P 500 +12.0% YTD
Russell 2000 +6.1% YTD
Dow: +39.45… | Nasdaq: +6.68… | S&P: +2.78…
NASDAQ Adv/Dec 1278/1389. …NYSE Adv/Dec 1522/1374.
03:30PM ET
[BRIEFING.COM]
Commodities end the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up -0.3% at 84.8420
The dollar index is down 0.3% at 91.56
Looking at the energy space:
Oct WTI crude settled $0.35 lower on the day at $49.95/barrel
In other energy, Oct natural gas settled $0.03 lower at $3.12/MMBtu
On to metals:
Dec gold lost $0.10 to settle at $1310.50/oz, while Dec silver rose $0.11 to $17.28/oz
Dec copper settled unchanged at $2.97/lb
Finally, agriculture:
Dec corn settled $0.04 lower at $3.84/bu
Nov soybeans settled down $0.01 at $9.67/bu
Dec wheat settled $0.01 higher at $4.44/bu
Dow: +43.67… | Nasdaq: +5.83… | S&P: +3.06…
NASDAQ Adv/Dec 1468/1423. …NYSE Adv/Dec 1544/1350.
02:55PM ET
[BRIEFING.COM] All three major averages--the Dow (+0.2%), the Nasdaq (+0.1%), and the S&P 500 (+0.1%)--are on track to close at fresh record highs.
Six sectors currently trade in the green--telecom services (+1.9%), financials (+1.0%), technology (+0.5%), materials (+0.4%), energy (+0.3%), and industrials (+0.1%)--while five trade in the red--consumer discretionary (-0.1%), consumer staples (-0.2%), utilities (-0.3%), health care (-0.8%), and real estate (-0.9%).
The Federal Open Market Committee's latest policy directive will be released tomorrow afternoon. The market isn't anticipating a rate-hike announcement, however, it is expecting the U.S. central bank to announce a start date for its balance sheet normalization process.
In addition, investors will receive the Fed's latest interest-rate forecast--the so-called "dot plot."
Dow: +45.71… | Nasdaq: +8.37… | S&P: +3.21…
NASDAQ Adv/Dec 1411/1354. …NYSE Adv/Dec 1536/1355.
02:25PM ET
[BRIEFING.COM] Equity indices have not changed much since the last update; the S&P 500 holds a gain of 0.1%.
AutoZone (AZO 534.87, -28.52) has dropped 5.1% today despite reporting better-than-expected earnings this morning. However, the company did enjoy a nice four-week rally ahead of today's release, in which AZO shares advanced more than 10.0%. Today's slide places the company just a step above its 50-day simple moving average (526.75).
Following today's closing bell, several other notable companies will deliver their latest earnings reports, including FedEx (FDX 215.87, +0.80), Adobe Systems (ADBE 156.71, +0.94), and Bed Bath & Beyond (BBBY 26.90, -0.39). In addition, General Mills (GIS 55.38, -1.05) will report on Wednesday morning.
Dow: +49.18… | Nasdaq: +6.46… | S&P: +2.86…
NASDAQ Adv/Dec 1421/1351. …NYSE Adv/Dec 1518/1358.
02:00PM ET
[BRIEFING.COM] The stock market has been trending sideways this afternoon as the major averages flirt with their record-high marks.
Transports are trading a step behind the broader market today, evidenced by the 0.1% decrease in the Dow Jones Transportation Average. Airlines show relative weakness--sending the US Global Jets ETF (JETS 28.88, -0.05) lower by 0.2%--while select railroad names like Union Pacific (UNP 113.03, +1.00) and Norfolk Southern (NSC 127.69, +0.33) show relative strength--sporting gains of 0.9% and 0.3%, respectively.
For the month, the DJTA is currently outpacing the benchmark S&P 500; the two indices show respective month-to-date gains of 2.0% and 1.4%.
Dow: +49.81… | Nasdaq: +8.01… | S&P: +3.45…
NASDAQ Adv/Dec 1428/1323. …NYSE Adv/Dec 1484/1365.
01:25PM ET
[BRIEFING.COM] The major U.S. indices continue to sport small gains as investors await the latest FOMC policy directive, which will cross the wires tomorrow afternoon.
A look inside the Dow Jones Industrial Average shows that telecom giant Verizon (VZ 49.30, +1.21) and financials like JPMorgan Chase (JPM 94.17, +1.25), American Express (AXP 88.95, +1.08), and Goldman Sachs (GS 229.82, +2.26) are outperforming as their respective sectors trade at the top of the sector standings.
Conversely, UnitedHealth (UNH 192.48, -5.71) is the worst-performing Dow component as health care names display relative weakness in today's session.
At current levels, the DJIA is up 0.5% for the week.
Dow: +36.82… | Nasdaq: +3.53… | S&P: +2.34…
NASDAQ Adv/Dec 1377/1378. …NYSE Adv/Dec 1489/1344.
01:05PM ET
[BRIEFING.COM] The major U.S. indices are currently hovering near their best marks of the day in what has been a rather range-bound session thus far. The Dow (+0.2%) and the Nasdaq (+0.1%) trade roughly in line with the benchmark S&P 500 (+0.1%), which hovers just a tick below its all-time high (2,508.32). Small caps have struggled today, sending the Russell 2000 lower by 0.1%.
A number of corporate headlines and economic reports have crossed the wires today, but they have done little to shift the broader market as investors are in wait-and-see mode ahead of the FOMC's latest statement on monetary policy--which will be released tomorrow afternoon at 14:00 ET.
Six of the eleven sectors are trading in the green this afternoon with the lightly-weighted telecom services sector (+2.3%) leading the charge. Sprint (S 8.34, +0.66) is the sector's top-performing component following reports that the company is in active talks with T-Mobile US (TMUS 64.69, +2.89) regarding a potential merger. The two companies have spiked 8.7% and 4.6%, respectively.
The influential financial sector (+1.0%) also exhibits notable strength--placing it on track to post its seventh win in eight sessions--but the remaining advancers hold gains of no more than 0.4%. The top-weighted technology sector (+0.4%) has bounced back from yesterday's underperformance, hitting a fresh September high.
On the flip side, the real estate and health care spaces are the weakest groups, showing losses of 1.1% and 0.8%, respectively. Given its notable influence, the health care sector's underperformance has acted as a drag on the broader market. Health care providers show particular weakness with Dow component UnitedHealth (UNH 193.38, -4.77) dropping 2.4%.
In the bond market, U.S. Treasuries are trading mostly lower this afternoon after opening the session with modest gains. The benchmark 10-yr yield is up one basis point at 2.24%.
Also of note, President Trump addressed the United Nations General Assembly this morning, taking a hard stance against North Korea and the Iran nuclear deal, as expected.
Reviewing Tuesday's batch of economic data, which included August Housing Starts, August Import/Export Prices, and the Current Account Balance for the second quarter:
Housing starts decreased to a seasonally adjusted annualized rate of 1.180 million units in August (Briefing.com consensus 1.170 million), down from a revised 1.190 million units in July (from 1.155 million). Building permits increased to a seasonally adjusted 1.300 million in August (Briefing.com consensus 1.212 million) from a revised 1.230 million in July (from 1.223 million).
The key takeaway from the report is that the pace of single-family starts isn't quick enough to alleviate the supply pressures in the housing market that are crimping affordability for prospective homeowners. That isn't expected to improve next month either when the force of the impact from Hurricanes Harvey and Irma weighs on housing starts activity.
Import prices excluding oil rose 0.3% in August after declining 0.1% in July. Export prices excluding agriculture increased 0.7% in August after rising 0.3% in July.
The key takeaway from the Import-Export Price Index report for August is that it will keep the possibility of a December rate hike on the table.
The current account deficit for the second quarter totaled $123.1 billion (Briefing.com consensus -$115.1 billion). The first quarter deficit was revised to $113.5 billion from $116.6 billion.
Dow: +41.63… | Nasdaq: +5.41… | S&P: +3.00…
NASDAQ Adv/Dec 1390/1369. …NYSE Adv/Dec 1439/1363.
12:30PM ET
[BRIEFING.COM] Equity indices are hovering near their best marks of the day with the S&P 500 sporting a gain of 0.1%.
Technology stocks have been ticking higher as of late, sending the top-weighted technology sector (+0.5%) to a fresh September high. Within the sector, Facebook (FB 172.12, +2.08) shows notable strength (+1.2%), reclaiming all of yesterday's decline. Meanwhile, NVIDIA (NVDA 188.36, +0.82) has cooled off a bit today (+0.4%) following two days of impressive gains; NVDA shares have added 11.2% since last Thursday's close.
The lightly-weighted telecom services sector (+2.1%) is still trading atop the day's sector standings following morning reports that T-Mobile US (TMUS 64.67, +2.86) and Sprint (S 8.37, +0.69) are discussing a possible merger. The two companies currently sport gains of 4.6% and 8.9%, respectively.
Dow: +41.76… | Nasdaq: +8.38… | S&P: +3.34…
NASDAQ Adv/Dec 1363/1386. …NYSE Adv/Dec 1423/1352.
12:00PM ET
[BRIEFING.COM] The S&P 500 continues to float just a tick above its flat line while small caps struggle, evidenced by the Russell 2000, which is down 0.2%.
Financials have rallied once again today, putting the heavily-weighted financial space (+0.7%) on track for its seventh win in eight sessions. Nearly all of the sector's components are trading in the green late this morning, with names like JPMorgan Chase (JPM 93.80, +0.88), Wells Fargo (WFC 53.20, +0.49), and Citigroup (C 71.22, +0.62) sporting gains of 0.9% apiece.
In the bond market, Treasuries are mixed after holding modest gains earlier in the session. The 2-yr yield is down one basis point at 1.39% while the 10-yr yield is up one basis point at 2.24%. The 2yr-10yr spread now hovers at 85 basis points--which marks a four-week high.
Dow: +35.84… | Nasdaq: +2.59… | S&P: +2.53…
NASDAQ Adv/Dec 1314/1449. …NYSE Adv/Dec 1390/1384.
11:25AM ET
[BRIEFING.COM] Equity indices are still trading flat this morning with the Dow (+0.1%) showing relative strength.
The heavily-weighted health care sector (-0.6%) has struggled today, acting as a drag on the broader market. Health care providers like UnitedHealth (UNH 194.90, -3.29), Aetna (AET 156.46, -4.54), and Centene (CNC 89.08, -5.49) exhibit particular weakness with losses of 1.6%, 2.9%, and 5.9%, respectively. Meanwhile, biotechnology names also underperform, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 329.70, -2.49), which is down 0.8%.
In total, five of the eleven sectors currently trade in the red--consumer discretionary (-0.4%), health care (-0.6%), consumer staples (-0.3%), utilities (-0.2%), and real estate (-1.2%)--the majority of which are countercyclical. On the flip side, telecom services leads (+1.9%) while the other advancers hold gains of no more than 0.6%.
Dow: +23.71… | Nasdaq: -0.20… | S&P: +0.72…
NASDAQ Adv/Dec 1350/1414. …NYSE Adv/Dec 1406/1347.
11:00AM ET
[BRIEFING.COM] The major U.S. indices are hovering near their opening marks this morning following President Trump's first address before the United Nations General Assembly. The S&P 500 holds a slim gain of 0.1%.
Sector movement has been modest for the most part, but the telecom services group (+1.5%) has demonstrated notable strength following reports that T-Mobile US (TMUS 64.51, +2.70) and Sprint (S 8.14, +0.46) are discussing a possible merger. The two companies currently sport gains of 4.1% and 6.3%, respectively.
Meanwhile, Kohl's (KSS 46.29, +1.40) has also moved solidly higher this morning, climbing 3.1%, following news that the company will offer free returns for Amazon (AMZN 971.27, -2.91) customers at locations in Los Angeles and Chicago. As a whole, however, retailers underperform, sending the SPDR S&P Retail ETF (XRT 40.69, -0.35) lower by 0.9%.
In his U.N. debut, President Trump took a hard stance against North Korea and Iran, as expected. The stock market's reaction was muted.
Dow: +29.86… | Nasdaq: +4.97… | S&P: +1.77…
NASDAQ Adv/Dec 1406/1328. …NYSE Adv/Dec 1446/1286.
10:35AM ET
[BRIEFING.COM]
Commodities are lower in morning trade
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently or -0.3% at 84.8205
Dollar index is currently -0.1% at 91.68
Looking at energy...
Nov WTI crude oil futures are now -$0.18 at $50.17/barrel
In other energy, Oct natural gas is -$0.02 at $3.13/MMBtu
Moving on to metals...
Dec gold is currently +$2.41 at $1313.21/oz, while Sept silver is +$0.14 at $17.23/oz
Dec copper is now -$0.01 at $2.96/lb
Dow: +24.35… | Nasdaq: +4.38… | S&P: +1.42…
NASDAQ Adv/Dec 1321/1266. …NYSE Adv/Dec 1442/1274.
10:00AM ET
[BRIEFING.COM] Stocks have slipped in recent action, sending the major averages toward their flat lines. The Dow shows relative strength, clinging to a slim gain of 0.1%.
Within the Dow, Chevron (CVX 116.09, +0.90) is the top performer (+0.9%), extending its September gain to 7.9%. On the flip side, Nike (NKE 53.05, -0.45) is the weakest Dow component (-0.9%) after NKE shares were downgraded to 'Neutral' from 'Positive' at Susquehanna this morning. UnitedHealth (UNH 196.75, -1.44) also shows relative weakness, dropping 0.7%.
For the month of September, the Dow leads its peers with a month-to-date gain of 1.8%. The S&P 500 is in second place (+1.3% MTD), followed by the Nasdaq (+0.4% MTD).
Dow: +14.60… | Nasdaq: -2.67… | S&P: +0.59…
NASDAQ Adv/Dec 1310/1321. …NYSE Adv/Dec 1402/1221.
09:40AM ET
[BRIEFING.COM] The equity market opened Tuesday's session in the green, but gains have been modest thus far. The S&P 500 is higher by 0.1%.
Sector movement has been very modest in the opening minutes; all groups currently hover within 0.3% of their unchanged marks. The top-weighted technology sector (+0.2%) shows relative strength, bouncing back from yesterday's underperformance, while the consumer discretionary (-0.1%) and consumer staples (-0.1%) groups exhibit relative weakness.
In the bond market, Treasuries are higher across the curve, reclaiming some of yesterday's losses. The benchmark 10-yr yield is down one basis point at 2.22%.
Dow: +23.18… | Nasdaq: -1.87… | S&P: +0.78…
NASDAQ Adv/Dec 1310/1232. …NYSE Adv/Dec 1382/1137.
09:16AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +4.40.
Equity futures are pointing to a slightly higher Tuesday open for the U.S. equity market, which kicked off the week with yet another record-high close on Monday. The S&P 500 futures are trading two points, or 0.1%, above fair value.
The Federal Open Market Committee will kick off a two-day policy meeting this morning in Washington. The market isn't anticipating that the Fed's latest policy directive--which will be released on Wednesday afternoon--will include a rate hike, however, it is expecting the U.S. central bank to announce a start date for its balance sheet normalization process.
In addition, this meeting will feature the release of the Fed's latest "dot plot" projections, which investors will study closely to get a better idea of the Fed's rate-hike forecast. Currently, the market believes there's a 56.9% chance that the Fed will raise rates one more time before the end of the year, according to the CME FedWatch Tool.
Also of note, President Trump will address the United Nations this morning at 10:30 ET and is expected to target North Korea's nuclear program.
In corporate news, AutoZone (AZO 570.05, +6.65) is up 1.2% after reporting better than expected earnings. Meanwhile, Bob Evans (BOBE 77.00, +4.07) has jumped 5.6% following news that Post Holdings (POST 86.00, +0.16) is set to acquire the company for approximately $1.5 billion or $77.00 per share.
Outside of the equity market, U.S. Treasuries are trading higher this morning, bouncing back slightly from recent weakness; the benchmark 10-yr yield is down one basis point at 2.22%. Meanwhile, crude oil is up 0.6% at $50.68/bbl, the U.S. Dollar Index is down 0.2% at 91.65, and gold is up 0.1% at $1,312.17/ozt.
Reviewing this morning's batch of economic data, which included August Housing Starts, August Import/Export Prices, and the Current Account Balance for the second quarter:
Housing starts decreased to a seasonally adjusted annualized rate of 1.180 million units in August (Briefing.com consensus 1.170 million), down from a revised 1.190 million units in July (from 1.155 million). Building permits increased to a seasonally adjusted 1.300 million in August (Briefing.com consensus 1.212 million) from a revised 1.230 million in July (from 1.223 million).
Import prices excluding oil rose 0.3% in August after declining 0.1% in July. Export prices excluding agriculture increased 0.7% in August after rising 0.3% in July.
The current account deficit for the second quarter totaled $123.1 billion (Briefing.com consensus -$115.1 billion). The first quarter deficit was revised to $113.5 billion from $116.6 billion.
Investors will not receive any additional economic reports on Tuesday.
08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +5.80.
The S&P 500 futures trade three points, or 0.1%, above fair value.
Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note while Japan's Nikkei (+2.0%) outperformed after being closed on Monday. Strong demand for Hong Kong dollar prompted Hong Kong Monetary Authority to offer additional short-term paper. The Reserve Bank of Australia released the minutes from its latest meeting, noting evidence of a pick-up in economic data and an improvement in the labor market. China is expected to amend its constitution at the 19th Party Congress, which will begin on October 18. Press reports from Japan indicate Prime Minister Shinzo Abe may call a snap election as early as September 25. Rumors about an impending election have circulated as of late, but the timing of the vote remains uncertain.
In economic data:
South Korea's August PPI +0.3% month-over-month (last 0.1%); +3.2% year-over-year (last 3.0%)
Australia's Q2 House Price Index +1.9% quarter-over-quarter (expected 1.1%; last 2.2%)
New Zealand's Q3 Westpac Consumer Sentiment 112.4 (last 113.4)
---Equity Markets---
Japan's Nikkei spiked 2.0%, settling at its highest level in nearly two years. J Front Retailing, Yamato Holdings, Toyota Motor, Advantest, Softbank, Tokyo Electron, Suzuki Motor, Fanuc, Dainippon Screen Manufacturing, and Olympus posted gains between 2.8% and 4.6%. Only seven components ended in the red with Asahi Glass and Toshiba both falling near 1.4%.
Hong Kong's Hang Seng lost 0.4% as property names pulled back. China Overseas, Wharf Holdings, Sino Land, Cheung Kong Property Holdings, and Henderson Land lost between 0.6% and 2.1%. Geely Automobile outperformed, climbing 1.6%.
China's Shanghai Composite shed 0.2%. Changchun Yidon Clutch, Xiamen Faratronic, Rising Nonferrous Metals Share, Ningbo Shanshan, and Insigma Technology lost between 3.3% and 4.0%.
India's Sensex slipped 0.1%, pausing near its August high. Coal India lost 2.5% while financials like SBI, AXIS Bank, and HDFC Bank posted losses between 0.5% and 0.9%. ICICI Bank outperformed, rising 0.6%.
Major European indices trade near their flat lines as trading ranges narrow ahead of tomorrow's FOMC policy statement. French Finance Minister Bruno Le Maire said his country's budget for 2018 will be fair, but will include about EUR16 billion in spending cuts. The 2017 deficit/GDP ratio declined to 2.9% from 3.0% and the 2018 deficit/GDP ratio is expected to decline to 2.6%. Germany's ZEW survey reflected upbeat sentiment surrounding the German economy.
In economic data:
Eurozone July Current Account surplus EUR25.10 billion (expected surplus of EUR22.30 billion; last surplus of EUR22.80 billion). ZEW Economic Sentiment 31.7 (expected 32.4; last 29.3)
Germany's September ZEW Economic Sentiment 17.0 (expected 12.5; last 10.0) and ZEW Current Conditions 87.9 (consensus 86.6; last 86.7)
---Equity Markets---
Germany's DAX is lower by 0.1% amid losses in most components. Adidas, Thyssenkrupp, Siemens, Bayer, Commerzbank, and Deutsche Bank show losses between 0.5% and 0.9%. Conversely, Lufthansa is up 1.6% and Deutsche Post has climbed 1.4%.
France's CAC is up 0.1%. Technip leads, rising 1.6%, while Vivendi, Cap Gemini, Michelin, Carrefour, Accor, Peugeot, and Renault hold gains between 0.4% and 1.1%. On the downside, consumer names like L'Oreal, Kering, Pernod Ricard, and Danone are down between 0.2% and 0.6%.
UK's FTSE has added 0.2% with consumer names and select financials among the leaders. Marks & Spencer, Sainsbury, Kingfisher, Tesco, Morrison Supermarkets, Burberry, and Imperial Brands are up between 0.9% and 3.3% while HSBC, Experian, RBS, and Lloyds Banking have added between 0.6% and 1.0%.
08:33AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +5.80.
The S&P 500 futures trade three points, or 0.1%, above fair value.
Just in, Housing starts decreased to a seasonally adjusted annualized rate of 1.180 million units in August (Briefing.com consensus 1.170 million), down from a revised 1.190 million units in July (from 1.155 million). Building permits increased to a seasonally adjusted 1.300 million in August (Briefing.com consensus 1.212 million) from a revised 1.230 million in July (from 1.223 million).
Separately, import prices excluding oil rose 0.3% in August after declining 0.1% in July. Export prices excluding agriculture increased 0.7% in August after rising 0.3% in July.
The current account deficit for the second quarter totaled $123.1 billion (Briefing.com consensus -$115.1 billion). The first quarter deficit was revised to $113.5 billion from $116.6 billion.
08:02AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +2.80.
Wall Street kicked off the week on a positive note yesterday, extending last week's run to new record highs. It appears that investors are ready to move the ball forward again this morning, although conviction is modest; the S&P 500 futures trade three points, or 0.1%, above fair value.
The Federal Open Market Committee will start a two-day policy meeting this morning and is set to release its latest policy directive tomorrow afternoon at 14:00 ET. The market isn't anticipating a rate-hike announcement, however, it is expecting the U.S. central bank to announce a start date for its balance sheet normalization process.
In addition, this meeting will feature the release of the Fed's latest "dot plot" projections, which investors will study closely to get a better idea of the Fed's rate-hike forecast. Currently, the fed funds futures market projects a 58.3% chance that the Fed will decide to raise interest rates once more before the year's end.
Elsewhere, President Trump will address the United Nations this morning at 10:30 ET and is expected to target North Korea's nuclear program.
U.S. Treasuries have moved modestly higher this morning, bouncing back slightly from recent weakness. The yield on the benchmark 10-yr Treasury note is down one basis point at 2.22%. Meanwhile, gold is up 0.1% at $1,311.92/ozt, the U.S. Dollar Index (91.71, -0.10) is down 0.1%, and crude oil is up 0.7% at $50.28/bbl.
On the data front, investors will receive three economic reports today--August Housing Starts (Briefing.com consensus 1.17 million), August Import/Export Prices, and the Current Account Balance for the second quarter (Briefing.com consensus -$115.1 billion). All three pieces of economic data will be released at 8:30 ET.
In U.S. corporate news:
AutoZone (AZO 590.00, +26.60): +4.7% after reporting better than expected earnings.
Nike (NKE 52.45, -1.05): -2.0% after NKE shares were downgraded to 'Neutral' from 'Positive' at Susquehanna.
Under Armour (UAA 16.87, -0.50): -2.9% after the company's shares were downgraded to 'Underperform' from 'Market Perform' at Wells Fargo.
Michael Kors (KORS 46.00, +1.35): +3.0% after KORS shares were upgraded to 'Outperform' from 'Perform' at Oppenheimer.
Mattel (MAT 15.00, +0.13): +0.9% despite news that toy retailer Toys "R" Us has officially filed for Chapter 11 Bankruptcy.
Reviewing overnight developments:
Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note while Japan's Nikkei outperformed after being closed on Monday. Japan's Nikkei +2.0%, Hong Kong's Hang Seng -0.4%, China's Shanghai Composite -0.2%, India's Sensex -0.1%.
In economic data:
South Korea's August PPI +0.3% month-over-month (last 0.1%); +3.2% year-over-year (last 3.0%)
Australia's Q2 House Price Index +1.9% quarter-over-quarter (expected 1.1%; last 2.2%)
New Zealand's Q3 Westpac Consumer Sentiment 112.4 (last 113.4)
In news:
Strong demand for Hong Kong dollar prompted Hong Kong Monetary Authority to offer additional short-term paper.
The Reserve Bank of Australia released the minutes from its latest meeting, noting evidence of a pick-up in economic data and an improvement in the labor market.
China is expected to amend its constitution at the 19th Party Congress, which will begin on October 18.
Press reports from Japan indicate Prime Minister Shinzo Abe may call a snap election as early as September 25. Rumors about an impending election have circulated as of late, but the timing of the vote remains uncertain.
Major European indices trade near their flat lines as trading ranges narrow ahead of tomorrow's FOMC policy statement. Germany's DAX -0.2%, France's CAC unch, UK's FTSE +0.3%.
In economic data:
Eurozone July Current Account surplus EUR25.10 billion (expected surplus of EUR22.30 billion; last surplus of EUR22.80 billion). ZEW Economic Sentiment 31.7 (expected 32.4; last 29.3)
Germany's September ZEW Economic Sentiment 17.0 (expected 12.5; last 10.0) and ZEW Current Conditions 87.9 (consensus 86.6; last 86.7)
In news:
French Finance Minister Bruno Le Maire said his country's budget for 2018 will be fair, but will include about EUR16 billion in spending cuts. The 2017 deficit/GDP ratio declined to 2.9% from 3.0% and the 2018 deficit/GDP ratio is expected to decline to 2.6%.
Germany's ZEW survey reflected upbeat sentiment surrounding the German economy.
05:57AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +4.50.
05:57AM ET
[BRIEFING.COM] Nikkei
...20299...+389.90
...+2.00%
Hang Seng
...280551...-108.40
...-0.40%
05:57AM ET
[BRIEFING.COM] FTSE
...7267.43...+14.20
...+0.20%
DAX...12546.26...-13.10...-0.10%
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