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Jul 30 2014

Expect a Relatively Muted Session

Market Recap:

Slightly disappointing earnings and nervousness ahead of Wednesday’s GDP release caused markets to drift lower on Tuesday. Volume and volatility were muted ahead of a busy reporting day, with most sectors of the S&P declining – Telecom shares were the only gainers for the day. Commodities were mixed, while Treasuries remained flat as the Ten-Year Yield remained below 2.5%.


Looking Ahead:

Stocks are set to get a boost from much better than forecast second quarter GDP data, which showed the economy growing at 4% while observers expected a 3.2% gain. We expect a relatively muted session until mid-afternoon when the FOMC releases its meeting minutes at 2:00 PM and Chairwoman Yellen briefs reporters and market participants on the Fed’s view of the economy. While we do not expect any new language in the minutes, we do view a rising probability of increasing dissent amongst committee members regarding the appropriateness of the current policy and when the Fed should begin raising rates.

Make sure to tune into Money Matters with Gary Goldberg this Saturday at 2:00 PM and Sunday at 11:00 AM to hear our complete economic analysis, a great interview with MIT finance professor and Nobel Laureate Robert Merton, as well as our ongoing market commentary. Visit our website for details.