Most by now know that even though the market finished up for the day, it also gave up later in the day much of its early morning gains.
The DJIA managed to eke out a gain, but the pattern to all intents and reasons held.
Sinking energy prices weighed heavily again on the market as the slow growth worries capture investor attentions.
Here's a decent wrap for tomorrow from http://www.minyanville.com/special-features/daily-recap/articles/market-participants-crude-oil-Brent-crude/10/14/2014
Tomorrow's agenda is filled with important economic data releases, even though markets have appeared to ignore it over the past few weeks. Advance retail sales have typically been the third most volatile data release for markets. Tomorrow morning the September report will be released with total sales expected to decline by 0.1% for the month, mostly due to a decline in gasoline prices. The average unleaded gallon of gasoline fell by 10 cents during the month of September, which lowers total sales. Additionally, auto sales also declined from the prior month. After excluding those two categories, sales are expected to rise by 0.4% for the month. The producer price index for September and the Fed's Beige Book will also be released.
Overnight China will release consumer and producer price data for September. Consumer prices are expected to decline to a 1.7% annual rate from 2.0% in the month prior due to falling gas prices. The UK will release employment data. ECB President Mario Draghi is scheduled to speak twice tomorrow in two cultural events and comments on monetary policy are not highly expected.
Earnings reports will start to pick up tomorrow. Charles Schwab (SCHW), Keycorp (KEY), Blackrock (BLK), Bank of America (BAC), St Jude Medical (STJ), Netflix (NFLX), American Express (AXP), United Rentals (URI), eBay (EBAY), and Las Vegas Sands (LVS).
No comments:
Post a Comment