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Tuesday’s economic calendar
8:30 Import/Export Prices
8:55 Redbook Chain Store Sales
10:00 NAHB Housing Market Index
4:00 PM Treasury International CapitalSo far futures are FLAT even in light of repeal-and-replace vote for ACA failing to take root. And that surprised me, as I thought it might be an excuse to sell at top of rally? Still it will still be equally challenging even with a “repeal & 2 years to replace strategy” (replacing the expanded social & unfunded Medicaid programs — that is not actuarially sound – even with mandates to participate seems to too difficult to make work) … still this is significant to follow in week ahead.
as of 9 am
S&P -0.26%.
10-yr +0.25%.
Euro +0.68% vs. dollar.
Crude +1.54% to $46.73.
Gold +0.56% to $1,240.67.Of note the dollar selling (and minor ES) interruption has seen the $USDJPY test the 200-dma, down 80 pips on the day in a broad rout on the dollar.
The 200-day moving average is at 111.83 we are trading 111.76
PPPPLLLLUUUNNNGGGEEE
[size=3](Reuters) – U.S. stocks opened lower on Tuesday, weighed down by earnings reports from some big names and concerns over President Donald Trump’s ability to push through his pro-growth policies, following a setback to the healthcare bill.
Shares of Bank of America slipped 0.8 percent, while Goldman Sachs was down 0.9 percent after reporting quarterly results. Harley-Davidson slumped 9.6 percent after the motorcycle maker cut its 2017 shipments forecast.
The healthcare sector will be under scrutiny after the Republican healthcare bill to replace Obamacare sank in the Senate, with news that two Republican senators would not support the latest version of the bill. The healthcare bill failure spelled uncertainty for President Donald Trump’s agenda of tax reform and an infrastructure overhaul ….
BE interesting how the herd and talking heads react when we get a plunge – they seem to panic on a 5 handle pullback
At the close
Dow -0.24% to 21,577.08. S&P +0.06% to 2,460.85. Nasdaq +0.47% to 6,344.60.
Treasurys: 30-year +0.79%. 10-yr +0.36%. 5-yr +0.15%.
Commodities: Crude +0.96% to $46.46. Gold +0.6% to $1,241.11.
Currencies: Euro +0.67% vs. dollar. Yen -0.52%. Pound +0.08%.CSX +3.5% AH after reporting better than expected Q2 earnings and revenues, with growth across nearly all markets that was driven primarily by coal-related gains, strength in core pricing and volume across the other markets, and increased fuel recovery.
#MAGA
[quote=”Assistanc3″ post=50]At the close
Dow -0.24% to 21,577.08. S&P +0.06% to 2,460.85. Nasdaq +0.47% to 6,344.60.
Treasurys: 30-year +0.79%. 10-yr +0.36%. 5-yr +0.15%.
Commodities: Crude +0.96% to $46.46. Gold +0.6% to $1,241.11.
Currencies: Euro +0.67% vs. dollar. Yen -0.52%. Pound +0.08%.[/quote]The Nasdaq posted its eighth consecutive session of gains the longest streak since its 10-day string in February 2015. Netflix led the charge, up 13.5 per cent to $US183.60
On the flip side the Dow was lower by Goldman Sachs down 2.6 per cent to $US223.31 after it reported a 40 per cent fall in bond trading revenue and the weakest commodities results in its history as a public company.
One of the cool guys, Harley-Davidson fell 5.9 per cent to $US48.95 after $HOG cut its forecast for 2017 shipments.
No fear here – The CBOE Volatility index ended at 9.89 on its fourth consecutive close below 10.
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