TUESDAY’S MARKET – It's About Buick & Bibi

Stocks are backing off to start the day Tuesday, perhaps solely because of the run to 5000 for the Nasdaq yesterday. Investors will need some time to get use to the new class and grow comfortable with new money. But stocks should be getting a boost today from the motor vehicle sales, which were mostly positive today given the poor weather for February. I recommend investors keep buying dips in the market for now, as the absence of Greece fear, a Ukraine peace of sorts, and the Fed’s delayed schedule all offer better reason for kept capital to get to work now in risky stocks. The Israeli Prime Minister’s speech to the U.S. Congress today is a bit distracting as we near midday, and it could refocus investors on scary geopolitical scenarios, but I expect the market will get back to track soon enough. Follow our investors’ blog for our regular commentary.

Sector Security	3-3-15	YTD	TTM
Vanguard S&P 500 (NYSE: VOO)	-0.5%	+3.2%	+17.0%
iShares Dow Jones (NYSE: IYY)	-0.5%	+3.5%	+15.9%
Fidelity NASDAQ  ETF (Nasdaq: ONEQ)	-0.5%	+6.5%	+18.7%
ProShares Ultra Gold (NYSE: UGL)	+1.3%	+2.5%	-23.2%
ProShares Ultra Real Estate (NYSE: URE)	-0.7%	+3.8%	+43.4%
ProShares Ultra Oil (NYSE: UCO)	+1.3%	-17.4%	-77.5%
WisdomTree US$  Bullish (NYSE: USDU)	-0.4%	+2.8%	+14.1%
iShares 20+ Yr. Treasury (NYSE: TLT)	+0.2%	NA	+19.7%

Economic & EPS Reports

TODAY’S ECONOMIC REPORT SCHEDULE
Economic Data Point	Prior	Expected	Actual
MONDAY
Personal Income	+0.3%	+0.4%	+0.3%
-Spending	-0.3%	+0.0%	-0.2%
-Core PCE  Price Index	+0.0%	+0.1%	+0.1%
PMI Manufacturing	53.9	54.0	55.1
ISM Manufacturing	53.5	53.0	52.9
Construction Spending	+0.4%	+0.3%	-1.1%
Gallup US Consumer Spending	$81		$82
TUESDAY
Motor Vehicle Sales	16.7M	16.7M
-Domestic Sales Only	13.5M	13.4M
Redbook Store Sales	2.8%		2.7%
Gallup US ECI	3		1
Yellen Speaks

Yesterday’s economic data will carry over to today given the soft schedule. Yesterday we saw personal income was about in line, but personal spending was reported down 0.2%, versus a better expectation. Though, regarding consumers, Gallup’s consumer measure improved by a dollar. The Fed’s favorite inflation gauge, the Core PCE Price Index edged up 0.1%, which was inconsequential but should have helped the spending result higher.

Construction spending came in soft, but the weather finds the easy blame. The good news that seemed to carry the day and outweigh Friday’s Chicago PMI collapse and GDP revision came from manufacturing. Both the Markit and ISM data were reported strong enough to save us and cause some question about Friday’s bad news.

Today’s soft report schedule has already produced Redbook’s same-store sales check-up, which showed a 2.7% year-over-year gain for the period measured, versus last week’s 2.8% gain. Gallup’s economic confidence measure softened, but is not widely followed.

Motor vehicle sales are still rolling in, and this data will dictate the day for more than just Ford (NYSE: F), General Motors (NYSE: GM) and Tesla (Nasdaq: TSLA). It will show some level of consumer activity and bank lending, and in recent history has been uplifting of the market. Today’s data for February has been mostly positive considering February’s weather, save for Ford. Ford reported its US sales fell 2%; FCA (Chrysler) said its sales were up 5.6% versus last year’s result; Nissan’s (Nasdaq: NSANY) US sales were up 2.7%; GM’s sales were up 4%. I see this as a positive that will prove supportive to market rise this month, though not this morning. Automaker shares were all lower on the day.

Earnings Reports

Best Buy (NYSE: BBY) reported its results this morning and the shares are up 1.5%. The results were good, but the company said it would be seeing some margin squeeze ahead on higher SG&A spending. Best Buy’s CEO, commenting on Apple Watch (Nasdaq: AAPL), said it’s too early and much depends on quality and consumer perception, but he’ll be wearing one. This should be a positive factor for stocks today.

HIGHLIGHTED EPS REPORTS
Company	Ticker
TUESDAY
ABM Industries	NYSE: ABM
Accuride	NYSE: ACW
AeroVironment	Nasdaq: AVAV
Agenus	Nasdaq: AGEN
Amarin	Nasdaq: AMRN
Ambarella	Nasdaq: AMBA
Amicus Therapeutics	Nasdaq: FOLD
Ascena Retail	Nasdaq: ASNA
Autozone	NYSE: AZO
Avolon	Nasdaq: AVOL
Bazaarvoice	NYSE: BV
Best Buy	NYSE: BBY
Bob Evans Farms	Nasdaq: BOBE
Bona Film Group	Nasdaq: BONA
BreitBurn Energy Partners	Nasdaq: BBEP
Career Education	Nasdaq: CECO
CDI	NYSE: CDI
Codexis	Nasdaq: CDXS
Ctrip.com	Nasdaq: CTRP
Cumberland Pharmaceuticals	Nasdaq: CPIX
DARA BioSciences	Nasdaq: DARA
Dick’s Sporting Goods	NYSE: DKS
eFuture Information Tech	Nasdaq: EFUT
Engility	NYSE: EGL
Esperion Therapeutics	Nasdaq: ESPR
Geron	Nasdaq: GERN
Insys Therapeutics	Nasdaq: INSY
JD.Com	NYSE: JD
Kate Spade & Co.	Nasdaq: KATE
L.B. Foster	Nasdaq: FSTR
LRR Energy	NYSE: LRE
MCG Capital	Nasdaq: MCGC
Midstates Petroleum	NYSE: MPO
Navistar Int’l	NYSE: NAV
NeoPhotonics	Nasdaq: NPTN
PDI Inc.	Nasdaq: PDII
Phoenix New Media	Nasdaq: FENG
PRGX Global	Nasdaq: PRGX
Primoris Services	Nasdaq: PRIM
Quanex Building Products	NYSE: NX
Receptos	Nasdaq: RCPT
Revlon	NYSE: REV
Sanchez Energy	NYSE: SN
SINA	Nasdaq: SINA
Smith & Wesson	Nasdaq: SWHC
SpartanNash	Nasdaq: SPTN
Stage Stores	NYSE: SSI
Tarena Int’l	Nasdaq: TEDU
TiVo	Nasdaq: TIVO
TRI Pointe Homes	NYSE: TPH
TriNet Group	Nasdaq: TNET
Trinity Biotech	Nasdaq: TRIB
Trivascular Technologies	Nasdaq: TRIV
Veeva Systems	Nasdaq: VEEV
WhiteHorse Finance	NYSE: WHF
Xerium Technologies	NYSE: XRM
ZELTIQ Aesthetics	Nasdaq: ZLTQ

In conclusion, the world over is watching the Israeli Prime Minister’s speech to the U.S. Congress, but investors will have the entire afternoon to focus on reasons to buy stocks again.

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.