TUESDAY’S MARKET: Yellen Yanks It

We have deciphered the market movers for you today and see the most important as Janet Yellen. Her speech from last Friday continues to boost stocks, as no matter how good the economic data is, the market feels no rate hike threat. The Russia/Ukraine event continues to threaten, though, so keep a bead on the newswire at all times.

You’ll also likely enjoy: In Epic Battle of Yellen vs. Putin, the Champ Takes Round 1

U.S. Markets

Market ETF	8-26 Noon
SPDR S&P 500 (NYSE: SPY)	+0.2%
SPDR Dow Jones (NYSE: DIA)	+0.3%
PowerShares (Nasdaq: QQQ)	+0.1%
SPDR Gold Shares (NYSE: GLD)	+0.6%
iShares US Real Estate (NYSE: IYR)	+0.3%
United States Oil (NYSE: USO)	+0.1%
PowerShares DB US$  Bullish (NYSE: UUP)	-0.0%
PIMCO Total Return ETF (NYSE: BOND)	+0.0%
iPath S&P 500 VIX ST (NYSE: VXX)	+1.1%

Stocks continue to benefit from Janet Yellen’s supportive speech of last Friday. She owns this market, and I expect for the next 1 to 3 months, with only Russia threatening gains. Data continues strong, but good news is good news again thanks to the Fed’s focus on labor market slack and no threat of faster interest rate hikes near-term.

International Markets

EUROPE	%	ASIA/PACIFIC	%
Vanguard FTSE Europe (NYSE: VGK)	+0.4%	Precidian MAXIS Nikkei (NYSE: NKY)	-0.3%
iShares MSCI UK (NYSE: EWU)	-0.2%	SPDR S&P China (NYSE: GXC)	-0.2%
iShares MSCI France (NYSE: EWQ)	+1.2%	iShares Asia 50 (NYSE: AIA)	-0.0%
iShares MSCI Germany (NYSE: EWG)	+0.8%	iShares MSCI S. Korea (NYSE: EWY)	+0.9%
Global X FTSE Greece (NYSE: GREK)	+1.3%	iPath MSCI India (NYSE: INP)	+0.0%

Europe was mostly higher, save the U.K., which is about to lose all the tax income it receives from Scotland, as the UK region looks to independence. Surprisingly, Europe seems hopeful about the Russian Ukrainian meeting today, but I’m not. Sell this strength, especially in the volatile Greek security (Nasdaq: GREK).

Economic Data

TUESDAY’S ECONOMIC REPORT SCHEDULE
Economic Data Point	Prior	Expected	Actual
TUESDAY
Putin Meets w/ Poroshenko
FHFA House Price Index	0.4%	0.3%	+0.4%
S&P Case Shiller 20-City Index	-0.3%	+0.1%	-0.2%
ICSC Weekly Store Sales	-1.3%		+0.6%
-Year-to-Year Pace	+3.8%		+4.2%
Redbook Store Sales	+3.7%		+4.0%
Consumer Confidence	90.3	89.5	92.4
Investor Confidence	114.7		122.8
Richmond Fed Index	7.0	8.0	12
Durable Goods Orders	2.7%	5.1%	22.6%
-Ex-Transportation	3.0%	0.4%	-0.8%

With such an astounding increase in durable goods orders, you might have expected the market to be skyrocketing. However, the figure was greatly skewed by transportation goods orders. When excluding those high-ticket goods, durables orders actually decreased slightly. Richmond Fed data offered a positive support for the manufacturing sector though, with its improved reading.

Confidence measures improved greatly in this latest read, with both the Consumer Confidence measure reported today and the Investor Sentiment figure sharply higher. Things are getting better; it’s undeniable at this point. You can feel it in the streets even, and consumers and investors are expressing it.

Home price data showed further decline in home prices at the S&P Case Shiller reading. Remember, though, that S&P is a day late and a dollar short, reporting its data for June at the start of September. In June, we were coming out of a tough winter and home prices were feeling the effects of that. I would use this weakness as a reason to trade the homebuilders long here. Use the SPDR Homebuilders (NYSE: XHB) for some uplift for the next 1 to 3 months until interest rates become an issue again.

Commodity Markets (12:00 PM ET)

United States Oil (NYSE: USO)	+0.5%
iPath SP Crude Oil (NYSE: OIL)	+0.6%
U.S. Natural Gas (NYSE: UNG)	-0.1%
U.S. Gasoline (NYSE: UGA)	+0.4%
SPDR Gold Trust (NYSE: GLD)	+0.6%
Market Vectors Gold Miners (NYSE: GDX)	+1.6%
iShares Silver Trust (NYSE: SLV)	+0.5%
iPath DJ UBS Industrial Metals (NYSE: JJM)	+0.4%
Teucrium Corn ETF (NYSE: CORN)	-1.2%
Teucrium Wheat Fund (NYSE: WEAT)	-0.9%
Teucrium Soybean Fund (NYSE: SOYB)	-0.6%
iPath DJ-UBS Cocoa (NYSE: NIB)	-0.3%
iPath DJ-UBS Sugar (NYSE: SGG)	+1.5%
ICE Orange Juice Conc.	+1.4%
CME Lumber	-1.4%
CME Live Cattle	+0.2%

As the U.S. begins surveillance flights over Syria, in preparation for the bombing of the Islamic State enemy stationed there, oil prices are on the rise. We cannot attribute any of the day’s commodity price action to the dollar, as it has held about steady. Rather, geopolitical issues are once again leading capital cautiously into position. Gold is higher as well, with the GLD security up along with the miners.

Stock Activity

The day’s EPS list highlights data from Best Buy, which disappointed investors and is trading down 5.6% at the noon hour. The market is abuzz today though about the Burger King (NYSE: BKC) plan to potentially relocate to Canada so as to acquire Tim Horton’s (NYSE: THI) without objection from Canada. Well, the idea has drawn plenty of objection from American politicians, some of which are calling for the boycott of the King. I may have more to say on the subject if time avails today. I see the deal as a necessary one for Burger King to guard market share.

EPS REPORTS
Company	Ticker
TUESDAY
Analog Devices	NYSE: ADI
Aruba Networks	Nasdaq: ARUN
Best Buy	NYSE: BBY
Bob Evans Farms	Nasdaq: BOBE
Culp	NYSE: CFI
Daktronics	Nasdaq: DAKT
Doral Financial	NYSE: DRL
DSW Inc.	NYSE: DSW
Dycom Industries	NYSE: DY
Golar LNG	Nasdaq: GLNG
Heico	NYSE: HEI
Movado Group	NYSE: MOV
Nimble Storage	Nasdaq: NMBL
Regis	NYSE: RGS
Sanderson Farms	Nasdaq: SAFM
Smith & Wesson	Nasdaq: SWHC
Solera	NYSE: SLH
Taomee	Nasdaq: TAOM
Tech Data	Nasdaq: TECD
TiVo	Nasdaq: TIVO
Trina Solar	NYSE: TSL
TubeMogul	Nasdaq: TUBE

TODAY’S MOST ACTIVE STOCKS
BIGGEST GAINERS	% Gain
Image Sensing Systems (Nasdaq: ISNS)	+36%
Vicon Industries (NYSE: VII)	+37%
China Yida Holding (Nasdaq: CNYD)	+32%
Kite Pharma (Nasdaq: KITE)	+19%
Village Bank & Trust (Nasdaq: VBFC)	+18%
Digital Ally (Nasdaq: DGLY)	+18%
Arrowhead Research (Nasdaq: ARWR)	+14%
China HGS Real Estate (Nasdaq: HGSH)	+12%
TSR, Inc. (Nasdaq: TSRI)	+12%
Cover-All Technology (Nasdaq: COVR)	+8%
BIGGEST LOSERS	% Drop
Adept Technology (Nasdaq: ADEP)	-20%
Doral Financial (NYSE: DRL)	-18%
Xueda Education (NYSE: XUE)	-15%
Real Goods Solar (Nasdaq: RGSE)	-11%
Vringo (Nasdaq: VRNG)	-15%
iKang Healthcare (Nasdaq: KANG)	-12%
NetSol Technologies (Nasdaq: NTWK)	-7%
Trina Solar (NYSE: TSL)	-8%
Daily Journal (Nasdaq: DJCO)	-6%
Advaxis (Nasdaq: ADXS)	-6%

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.