Welcome to Tuesday’s Morning Coffee Break – Happy anniversary Mr. Market! Today 5 years ago marks the closing highs for both the Dow Jones and S&P 500 indexes. It also marks the start of the downward move during the subsequent financial crisis.
The weak tone of yesterday’s session indicates that oil prices may move toward the lower end of the two-week consolidation near $89.00 in the near-term. Focus will be on DOE inventories and ADP payrolls today, which may offer modest pressure. Pressure could also come from a lack of investment moving into energy markets at the start of Q4, concerns over global growth, and a slow pace of reform in Spain and Greece. Support may be found from favorable car sales reported yesterday, and relative strength in the euro. We’d look for prices to test support at $88.95 (Sep 26th low) over the next few days.
Welcome to Tuesday’s Morning Coffee Break – U.S markets started off the 4th quarter with strong trading intraday gains, although the Dow Jones and S&P 500 indexes did close solidly in the green the markets did exhibit the most recent trend off lately of selling off into the close. U.S. indexes closed well off their intraday highs with the NASDAQ falling into negative. The averages ended the day well off
Welcome to Monday’s Morning Coffee Break – Today’s U.S. session is the session of first – first day of new week, first day of new month and first day of a new quarter. U.S. markets finished off the September and the 3rd quarter in the green albeit the bulls loss some steam the final week of trading.
Welcome to today’s Morning Coffee Break –despite losses last week U.S. markets are firmly in the green as market participants head into the last week of September and the final week of the 3rd quarter. Markets are in the green as well for the 3rd quarter putting markets on target to be the best year since 2009.
Welcome to today’s Morning Coffee Break – hold on tight as today is “quadruple witching”. For those unsure of what quarterly “quadruple witching” is, it’s a period of time simultaneous expiration of various options and futures contracts that happens once each quarter. Doing a little digging we found that the last 8 times this has occurred in September, the Dow Jones has traded higher. The Dow Jones also has been
Welcome to today’s Morning Coffee Break – U.S. futures are under pressure today as traders become fearful once again of global growth outlook after China reported its 11th consecutive disappointing Purchasing Managers Survey (PMI) of 46.3 for the month of August.
Crude oil continue to moved lower in today’s session on fear of global economic growth and worries about Spanish debt crisis spinning out of control. Energy traders as well traders of growth commodities became cautious on Monday when Federal Reserve Bank of New York index was reported to have fallen to -10.4 for the month of September hitting a 3 year low. The previous months reading was -5.8 with analysts’
WTI Crude Oil prices crossed the $100 market for the first time since May 3rd on 3 catalysts ranging from the Federal Reserve’s announcement of an aggressive QE3 to the unrest in the Middle East and North Africa. September Crude Oil contracts traded as high as $100.42 before pull back under the $100 level to $99.50 on possible profit taking going into the weekend, however, remains well supported as tensions
Asian markets begin the week off with a big bang Monday morning – Sunday evening in the U.S after the European Finance Ministers approved to provide Spain euros for a banking bailout.
