WEDNESDAY’S MARKET: Worried About Tomorrow’s GDP Data
U.S. Markets
|
Market ETF
|
05/28
|
YTD
|
TTM
|
|
Vanguard S&P 500 (NYSE: VOO)
|
-0.1%
|
+3.6%
|
+15.0%
|
|
iShares Dow Jones (NYSE: IYY)
|
-0.1%
|
+3.5%
|
+15.3%
|
|
Fidelity NASDAQ ETF (Nasdaq: ONEQ)
|
-0.3%
|
+1.1%
|
+20.6%
|
|
ProShares Ultra Gold (NYSE: UGL)
|
-0.6%
|
+8.2%
|
-20.9%
|
|
ProShares Ultra Real Estate (NYSE: URE)
|
-1.2%
|
+28.6%
|
+2.1%
|
|
ProShares Ultra Oil (NYSE: UCO)
|
-0.7%
|
+15.4%
|
+25.7%
|
|
WisdomTree US$ Bullish (NYSE:
USDU)
|
+0.1%
|
-1.4%
|
0.0%
|
|
iShares 20+ Yr. Treasury (NYSE: TLT)
|
+1.2%
|
+12.5%
|
+0.6%
|
Everything is down today save U.S. Treasuries, on anticipation of the GDP report tomorrow. Also, tensions in Ukraine offer an overhanging threat depending on how the situation unfolds.
International Markets
|
EUROPE
|
%
|
ASIA/PACIFIC
|
%
|
|
iShares Europe (NYSE: IEV)
|
-0.5%
|
Japan Equity (NYSE: JEQ)
|
-0.04%
|
|
WisdomTree UK (Nasdaq: DXPS)
|
-0.01%
|
China Fund (NYSE: CHN)
|
+0.3%
|
|
Societe Generale ADR (OTC: SCGLY)
|
+0.8%
|
Asia Tigers (NYSE: GRR)
|
-0.1%
|
|
WisdomTree Germany (Nasdaq: DXGE)
|
-0.2%
|
Korea Equity (NYSE: KEF)
|
+0.6%
|
|
National Bank Greece (NYSE: NBG)
|
+1.0%
|
India Fund (NYSE: IFN)
|
-0.2%
|
International markets show Europe is lower, save for Greek and Spanish interests represented here. However, those two markets are often outliers. Political upheaval in Europe is not at the fore here, but rather the American GDP data due tomorrow.
Economic Data
|
Economic Data Point
|
Prior
|
Actual
|
|
WEDNESDAY
|
|
|
|
+0.9%
|
-1.2%
|
|
|
-Purchase Index
|
-3.0%
|
-1.0%
|
|
-Refinance Index
|
+4.0%
|
-1.0%
|
|
-1.3%
|
-1.2%
|
|
|
-Year-to-Year Pace
|
+2.4%
|
+2.1%
|
|
+3.9%
|
+3.2%
|
Economic data showed mortgage activity declined last week by 1.2%, with both mortgage applications tied to purchases and refinancing down by 1.0%, but this data is often impacted by holidays, so do not read too much into it. Weekly store sales declined for the second straight period, and slowed on a year-over-year basis, though likely on the calendar day falling of Memorial Day.
Commodity Markets
|
United States Oil (NYSE: USO)
|
-0.5%
|
|
iPath SP Crude Oil (NYSE: OIL)
|
-0.5%
|
|
U.S. Natural Gas (NYSE: UNG)
|
+1.6%
|
|
U.S. Gasoline (NYSE: UGA)
|
-0.1%
|
|
SPDR Gold Trust (NYSE: GLD)
|
-0.5%
|
|
Market Vectors Gold Miners (NYSE: GDX)
|
-1.6%
|
|
iShares Silver Trust (NYSE: SLV)
|
-0.5%
|
|
iPath DJ UBS Industrial Metals (NYSE: JJM)
|
-0.1%
|
|
Teucrium Corn ETF (NYSE: CORN)
|
+0.1%
|
|
Teucrium Wheat Fund (NYSE: WEAT)
|
-0.2%
|
|
Teucrium Soybean Fund (NYSE: SOYB)
|
-0.0%
|
|
iPath DJ-UBS Cocoa (NYSE: NIB)
|
-0.0%
|
|
iPath DJ-UBS Sugar (NYSE: SGG)
|
+0.7%
|
|
ICE Orange Juice Conc.
|
-0.4%
|
|
CME Lumber
|
-1.1%
|
|
CME Live Cattle
|
+0.3%
|
Oil is lower while natural gas is rising on rising temperatures across the country. If electricity usage expands early due to temperatures driving air conditioners on, we’ll see greater draws than usual. A tornado struck in North Dakota, where much of the latest fracking activity is occurring, but that should not be a lasting driver of nat gas pricing here. If it is moving things today, we suggest selling on the tick. We believe the downslide in gold is premature, given what is still possible in Ukraine and issues around the US economy.
Stock Activity
The daily earnings list is short. LiveDeal (Nasdaq: LIVE) leads all leaders higher, and DSW (NYSE: DSW) leads all losers lower.
|
EPS REPORTS
|
|
|
Company
|
Ticker
|
|
WEDNESDAY
|
|
|
Amerco
|
Nasdaq: UHAL
|
|
Brown Shoe Co.
|
NYSE: BWS
|
|
Chico’s FAS
|
NYSE: CHS
|
|
China Sunergy
|
Nasdaq: CSUN
|
|
Cracker Barrel
|
Nasdaq: CBRL
|
|
Daktronics
|
Nasdaq: DAKT
|
|
DSW Inc.
|
NYSE: DSW
|
|
EnerSys
|
NYSE: ENS
|
|
Golar LNG
|
Nasdaq: GLNG
|
|
Golar LNG Partners
|
Nasdaq: GMLP
|
|
Gordman’s Stores
|
Nasdaq: GMAN
|
|
Hawkins
|
Nasdaq: HWKN
|
|
KongZhong
|
Nasdaq: KONG
|
|
Michael Kors
|
Nasdaq: KORS
|
|
Palo Alto Networks
|
Nasdaq: PANW
|
|
Popeye’s Louisiana Kitchen
|
Nasdaq: PLKI
|
|
RBC Bearnings
|
Nasdaq: ROLL
|
|
REX American Resources
|
NYSE: REX
|
|
Safe Bulkers
|
NYSE: SB
|
|
Seadrill
|
Nasdaq: SDRL
|
|
Seadrill Partners
|
Nasdaq: SDLP
|
|
Tilly’s
|
Nasdaq: TLYS
|
|
Toll Brothers
|
NYSE: TOL
|
|
TODAY’S MOST ACTIVE STOCKS
|
|
|
BIGGEST GAINERS
|
% Gain
|
|
LiveDeal (Nasdaq: LIVE)
|
+32%
|
|
FormFactor (Nasdaq: FORM)
|
+19%
|
|
Spherix (Nasdaq: SPEX)
|
+18%
|
|
Alderon Iron Ore (NYSE: AXX)
|
+10%
|
|
Superconductor (Nasdaq: SCON)
|
+13%
|
|
Lentuo Int’l (NYSE: LAS)
|
+6%
|
|
DragonWave (Nasdaq: DRWI)
|
+13%
|
|
B.O.S. Better Online (Nasdaq: BOSC)
|
+8%
|
|
India Globalization (NYSE: IGC)
|
+13%
|
|
DARA Biosciences (Nasdaq: DARA)
|
+13%
|
|
BIGGEST LOSERS
|
% Drop
|
|
DSW (NYSE: DSW)
|
-27%
|
|
FX Energy (Nasdaq: FXEN)
|
-16%
|
|
Acura Pharmaceuticals (Nasdaq: ACUR)
|
-15%
|
|
Sungy Mobile (Nasdaq: GOMO)
|
-13%
|
|
The Wet Seal (Nasdaq: WTSL)
|
-14%
|
|
Daktronics (Nasdaq: DAKT)
|
-12%
|
|
China Yida (Nasdaq: CNYD)
|
-7%
|
|
3D Systems (NYSE: DDD)
|
-11%
|
|
China Sunergy (Nasdaq: CSUN)
|
-10%
|
|
Northwest Biotherapeutics (Nasdaq: NWBO)
|
-9%
|
Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.
Labels: Market-Outlook, Market-Outlook-2014-Q2
posted by The Greek | 11:57 AM
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