GGFS Commentary

Wednesdays Market Recap:

Stocks closed the day mixed yesterday with the Dow and Russell 2000 gaining while the S&P and Nasdaq pulled back. Investors again listened to testimony for clues regarding the timing and scope of a rate rise but her comments yesterday offered no surprises. Sectors performance was similarly contrasted with half of the ten sectors closing positive and the other half closing negative. Consumer Discretionary stocks led the way, gaining .79% on the back of positive earnings reports from companies like Target (TGT) and Lowes (LOW). Treasuries also strengthened slightly, with 10 year yields closing the day at 1.968%.

Looking Ahead:

Futures look to a positive open this morning as investors await a slew of economic reports. Inflation, jobless claims, and durable goods data come in at 8:30 followed by the housing price index at 9am. Inflation, in particular, is expected to have fallen last month due to the strong decline of gasoline prices though the drop is expected to be brief. Today’s earnings of note include retailers Kohl’s (KSS), JCPenney, (JCP), and Gap (GPS).

Don’t miss our President, Oliver Pursche, of Fox Business tonight at 6:00 PM when he joins Charles Payne on “Making Money”, and make sure to tune into Money Matters with Gary Goldberg this Sunday at 11 AM on WOR 710 AM Radio to hear our complete market and economic commentary.  Gary’s guests this week are Nobel Prize winning Yale Economics Professor Robert J. Shiller and Doctor Kristine Gedroic.  Visit our website www.ggfs.com for details.

Tuesdays Market Recap:

Stocks increased in yesterday’s trading as Fed Chair Janet Yellen drew a narrative of US economy that has been improving in the past six months. She reiterated however, that the Fed will continue to remain “patient” in making a decision regarding the increase of Fed rates, language that seemed to denote that the Fed would be unlikely to raise rates in the near term. Markets were also aided by a couple of positive economic data points, including a positive reading in both home prices and consumer confidence, and a strong earnings report from home improvement giant Home Depot (HD). The Dow led all the major averages, which were all positive for the day, with a gain of .51%. Out of the ten S&P sectors, Utilities and Telecom once again showed leadership, both gaining .61%, while Healthcare was the only sector in the red with a drop of -.06%. Fed Chair Yellen’s positive notes on the economy also aided Treasuries with 10 year yields falling below 2% and closing at 1.98%.  

Looking Ahead:

Markets are mixed this morning, awaiting the second half of Fed Chair Janet Yellen’s testimony before Congress. The testimony, which will be in front of the Financial Services Committee, will once again begin at 10am. Investors will also be looking at January home sales data (10am) and the EIA’s weekly report on crude oil inventory (10:30am). Finally, major earnings releases of the day include Target (TGT), Lowes Companies (LOW), Dollar Tree (DLTR), and Chesapeake Energy (CHK).

Make sure to tune into Money Matters with Gary Goldberg this Sunday at 11:00 AM on WOR 710 AM Radio to hear a great interview with the founder of Zillow’s regarding the state of the real estate market, and to hear our latest economic and market commentary. And don’t miss our President, Oliver Pursche, this Thursday at 6 PM when he joins Charles Payne and crew on Fox Business for the hour. Visit our website www.ggfs.com for details.

Market Recap:

Markets mainly pulled back in yesterday’s trading, with only the Nasdaq being able to muster slight gains of .10%. Slumping oil prices and a disappointing existing home sales report drove the day’s action but investors were also seen to trade cautiously ahead of today’s Senate testimony by Fed Chair Janet Yellen. The fall in oil prices led to a .42% drop for the Energy sector, which along with telecom at -.58% were the two worst performers among the ten sectors of the S&P. On the other side, Utilities and Healthcare led with gains of .67% and .35% respectively.

Looking Ahead: 

Though there is economic data being released and Home Depot (HD) reporting earnings, today’s trading will most likely be driven by Fed Chair Janet Yellen’s testimony before the Senate Banking Committee. The markets wait for any clues or indications to determine the timing of a rate increase. Though she is expected to remain flexible in the verbiage, some investors believe that she will keep the possibility of a midyear hike alive after more dovish comments in January. The testimony is slated to begin at 10am. Aside from Home Depot (HD), other notable stocks that will be reporting earnings include Comcast (CMCSA), Hewlett Packard (HPQ), Macy’s (M).

Make sure to tune into CNBC this afternoon at 3:45 to watch our President, Oliver Pursche, when he provides our latest outlook and commentary live from the floor of the New York Stock Exchange. And don’t miss Money Matters with Gary Goldberg this Sunday at 11:00 AM on WOR 710 AM when Gary interview the founder of Zillow – the real estate company – and provides our complete market and economic analysis. Visit our website www.ggfs.com for details.

Market Recap:

Stocks climbed sharply to end at all-time highs in Friday as details of a compromise to avert a shutdown of Greek banks between Eurozone finance ministers and Greek officials were made public. While market participants were elated, Germans were not, and so the drama will likely continue next week.

Looking Ahead:

It will be another busy week of economic data releases, as inflation and manufacturing data come into focus. Speeches by Janet Yellen and a second look at Fourth Quarter GDP data could make the later part of the week more volatile. Don’t miss our President, Oliver Pursche, on Bloomberg Television Monday afternoon at 4:00 PM, and CNBC Tuesday afternoon at 3:45 PM.

This Week’s Market Moving Events:

• Monday: Chicago Fed National Activity data, Existing Home Sales, PMI Services data and Dallas Manufacturing data.
• Tuesday: US Consumer Confidence, Janet Yellen speaks, Case Shiller Home Prices, Richmond Fed Manufacturing data and Chinese Flash PMI
• Wednesday: New Home Sales, Mortgage Applications, Janet Yellen speaks, Petroleum report
• Thursday: Eurozone economic data and consumer sentiment, US Jobless Claims, Durable Goods orders, Consumer Prices and Consumer Comfort data
• Friday: US Q4 GDP (second reading), Chicago PMI and Pending Home sales.

Market Recap:

Stocks were mixed yesterday with the S&P and Dow falling slightly and the Nasdaq gaining as investors weighed continuing developments in Europe and oversupply concerns once again drove oil prices downward. In Europe, negotiations between Greece and the rest of the Eurozone continue after Germany rejected a six month extension proposal on Greece’s current bailout program. Despite the current impasse however, there is widespread belief that a deal will eventually be made. Tech stocks led the S&P boosted by a 8.5% gain in Priceline (PCLN) after a positive earnings result. On the other side, Energy and Utilities lagged, falling .78% and 1.09% respectively. The US dollar once again ticked higher against its major counterparts, rising .1% against the yen and .2% versus the Euro.

Looking Ahead:

Looking ahead to today’s trading, futures are pointing towards a mixed opening with investors waiting for more news concerning the ongoing Greek bailout talks. On the economic front, flash US manufacturing PMI data will be released at 9:45am. Currently, markets in Europe are mixed while Asian markets were quiet due to the Lunar New Year.

Make sure to tune into Money Matters with Gary Goldberg this Saturday at 2:00 PM and Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest market commentary and economic analysis.  Gary’s Guest is Wayne Nelson, lead singer of the Little River Band.  And don’t miss our President, Oliver Pursche, on Bloomberg TV next Monday at 4:00 PM, CNBC next Tuesday at 3:45 PM and Fox Business News on Thursday at 6:00 PM. Visit our website www.ggfs.com for details.