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May 27 2015

Futures point to a slight rebound

5/26/15 Market Recap: 

The markets began the shortened trading week on a negative note yesterday with each one of the major averages declining by more than 1%. After a week marked by vacillation and incremental rises on incredibly light participation, the markets moved in a more decided fashion yesterday, falling from the beginning of the session and ending near the day’s lows. At the forefront of investor’s minds seemed to be a mix of interest rate hike worries after a set of better than expected econ reports and renewed concern regarding Greece’s upcoming debt payments. April durable goods data, in particular, showed strength despite a negative headline number as non-defense capital goods orders, a common proxy for business investment, increased by 1%. Greek concerns meanwhile caused the euro to fall against the greenback and pushed the dollar to one month highs versus the euro.


Looking Ahead: 

Futures are pointing to a slight rebound after yesterday’s selloff caused the markets to fall by the most in about three weeks. Unlike yesterday, there is no major economic data in the data docket expected today, a respite that will give the markets time to digest yesterday’s news. Given the lack of market moving news, many traders are expecting a marginal recovery during today’s session as the market waits more substantial news to drive trading in either direction. Make sure to listen to Money Matters with Gary Goldberg this Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest economic and market analysis.  This week, Gary’s guest is former press secretary and political commentator Dana Perino.   And don’t miss Oliver Pursche tonight on “Making Money with Charles Payne” on the Fox Business Network.  Oliver will provide analysis and commentary for the full hour from 6 to 7.   Visit our website www.ggfs.com for details.