Market stats coming week of Feb. 17th
This week has a host of data being released and the news is slanted to be terrible by most accounts. On Tuesday, the National Association of Home Builders will release its monthly sentiment survey, which has fallen to record low levels, with fewer than one in 10 builders confident about the business.
Industrial production is expected to have plunged again in January after falling 7% in the past six months. Economists surveyed were looking for a decline of 1.7%, following a 2% drop in December. The figures will be released Wednesday. Total hours worked in the manufacturing sector is seen falling 2.1% in January, with the number of jobs down in almost every industrial sector.
Continuing jobless claims have been at record high levels -- at nearly 5 million -- while initial claims have settled above 600,000 per week. No one knows what this week's data will show but many are expecting some very bad numbers.
The CPI is expected to rise 0.3%, and the PPI 0.4%, according to economists.
The Federal Reserve has warned it sees a risk of near-term deflation, but there's not much more they can do about that risk since rates are near zero.
With all this bad news pretty much expected, watch how the markets react. It is my opinion that the markets will hold and possibly rally on any news that seems to suggest we are near or at bottom or that maybe it is slowing the acceleration rate of these indicators. I particularly would watch how Apple stock reacts this week, as it is a good tech indicator of market direction. And what I plan to do is to again look for opportunities to buy the ETF, TNA, an Ultra short x 3 of the Small Caps. Watch volume for this week as well as it has been weak of late. Any high volume with a price rise will be most welcome and may cause the Shorts to cover.
UPDATE: Tuesday 5:45am PST
It looks pretty bad this morning in pre-market as markets around the World are negative. We must hold the lows of 7,300 on the Dow and 742 on the S&P 500 or we are in for some real pain. Dow futures down about 250 in pre-market. S&P 500 is down to 793 in pre-market. Today is shaping out to have a big drop at the open. The question will be whether we can recover today or are we headed to retest the very lows made earlier in November. Wall Street does not like with the Administration is doing with respect to the economic mess that Wall Street and the Bankers created in the first place. They don't like the restrictions on compensation put on them by the Congress and the Obama Administration. Fear levels are rising.
Industrial production is expected to have plunged again in January after falling 7% in the past six months. Economists surveyed were looking for a decline of 1.7%, following a 2% drop in December. The figures will be released Wednesday. Total hours worked in the manufacturing sector is seen falling 2.1% in January, with the number of jobs down in almost every industrial sector.
Continuing jobless claims have been at record high levels -- at nearly 5 million -- while initial claims have settled above 600,000 per week. No one knows what this week's data will show but many are expecting some very bad numbers.
The CPI is expected to rise 0.3%, and the PPI 0.4%, according to economists.
The Federal Reserve has warned it sees a risk of near-term deflation, but there's not much more they can do about that risk since rates are near zero.
With all this bad news pretty much expected, watch how the markets react. It is my opinion that the markets will hold and possibly rally on any news that seems to suggest we are near or at bottom or that maybe it is slowing the acceleration rate of these indicators. I particularly would watch how Apple stock reacts this week, as it is a good tech indicator of market direction. And what I plan to do is to again look for opportunities to buy the ETF, TNA, an Ultra short x 3 of the Small Caps. Watch volume for this week as well as it has been weak of late. Any high volume with a price rise will be most welcome and may cause the Shorts to cover.
UPDATE: Tuesday 5:45am PST
It looks pretty bad this morning in pre-market as markets around the World are negative. We must hold the lows of 7,300 on the Dow and 742 on the S&P 500 or we are in for some real pain. Dow futures down about 250 in pre-market. S&P 500 is down to 793 in pre-market. Today is shaping out to have a big drop at the open. The question will be whether we can recover today or are we headed to retest the very lows made earlier in November. Wall Street does not like with the Administration is doing with respect to the economic mess that Wall Street and the Bankers created in the first place. They don't like the restrictions on compensation put on them by the Congress and the Obama Administration. Fear levels are rising.
Labels: AAPL, Continuing Jobless Claims, CPI, TNA
posted by Charles Amico at 4:08 PM
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