mmfnschedule   mmfnschedule

«

»

Feb 25 2015

Mixed Markets, awaiting second half of Yellen’s testimony

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.