11/25 S&P 500, Dow skid to a halt, over oil, falling confidence

Administrator - Tuesday, 25 November 2014 12:45

Biggest OTC % Gainers/OTC % Losers /Top OTC Volume Movers 11/25 close:

After-hours buzz: Analog Devices, HP & TiVo

Analog Devices – The maker of integrated circuits rose in after-hours trading after reporting strong fiscal-fourth-quarter results.

Hewlett-Packard – The provider of technology and business services reported earnings of $1.06 a share on revenue of $28.4 billion, versus an expected EPS of $1.06 on $28.76 billion in sales. Its shares fell in after-hours trading.

TiVo – Shares of the maker of digital video recorders fell in after-hours trading after it reported a 49 percent decline in quarterly profit.

21Vianet Group – The provider of Internet data-center services fell sharply in after-hours trading after it reported quarterly results.


ScreenHunter_06 Nov. 25 17.02

S&P 500, Dow skid to a halt, over oil, falling confidence
NEW YORK (MarketWatch) — U.S. stocks ended Tuesday’s back-and-forth session marginally lower, snapping a three-day run on the S&P 500 and Dow Jones Industrial Average.
Stocks traded in a narrow range, dipping in and out of negative territory after a variety of economic data highlighted by a surprise dip in consumer confidence. Trading volumes were thinning as many U.S. investors prepared for travel ahead of Thanksgiving on Thursday.

Beyond thoughts of turkey, worries about possible cuts to production by key oil-producing countries around the world also weighed on investors minds, ahead of a widely anticipated Nov. 27 meeting of the Organization of the Petroleum Exporting Countries. Oil futures sank to a fresh four-year low on Tuesday.

The S&P 500 SPX, -0.12%  set an intraday high, but closed 2.37 points, or 0.1%, lower at 2,067.04. The Dow Jones Industrial Average DJIA, -0.02%  slipped 3 points to 17,814.94.

The Nasdaq Composite COMP, +0.07%  ended the day up 3.4 points, or 0.1%, at 4,758.25.

Economic data: The revised GDP report showed that the economy expanded even faster than previously reported; however, analysts warned that the growth rate is likely unsustainable.

A surprise dip in consumer confidence index in November, indicating consumers were less optimistic about both current and upcoming conditions, also unsettled the market.

U.S. home prices were just about unchanged in September, as annual growth cooled to the slowest year-over-year pace in two years, moving the market closer to sustainable gains, according to data released Tuesday.

Stocks to watch: Tiffany & Co. TIF, +2.47%  shares rose 2.5% after the luxury jeweler said sales rose in the most recent period as its biggest market, the Americas, posted robust growth, although the results fell below analysts’ expectations as the company’s Japan and Asia-Pacific markets delivered weaker performances.

United Technologies. UTX, +2.68%  was the best performer among Dow components on Tuesday, gaining 2.7% recovering from Monday trading that saw shares lose 1.4% drop, after the company announced the abrupt departure of its CEO.

Netflix, Inc. NFLX, -2.10%   shares dropped 2.1% after analysts at Stifel Nicolaus cut the rating of the stock to hold from buy.

Hormel Foods Corp HRL, -5.19%  shares dropped 5.2%, after quarterly profit fell a penny shy of expectations, even though sales topped estimates. The processed foods company said sales in its key refrigerated foods and Jennie-O Turkey Store segments helped offset a slowdown in its specialty and grocery products segment in the fourth quarter.


116 S&P 500 stocks just hit record highs
Many factors are converging to push U.S. stocks higher and keep the bull market going

ScreenHunter_01 Nov. 25 12.46

A total of 116 stocks in the benchmark S&P 500 Index hit 52-week highs in the past two trading days as the bull market roars to the end of the year.

The S&P 500 SPX, +0.08%  registered a closing record high on Monday for the third straight session. The index is up 12% this year and has returned 14% with dividends reinvested. That’s an outsized performance when you consider it dropped 7% from Sept. 20 through Oct. 15.

As shares rise, the index is getting expensive. It now trades for 14.3 times aggregate consensus 2016 earnings estimates (we’re using 2016 because we’re almost through 2014). That’s up from forward multiples of 13.5 a year ago and 11.1 two years ago.

There are many factors pushing the S&P 500 Index to new highs, including improved sales and earnings for many companies, nine straight months of 200,000-plus jobs added to the economy, a flurry of other positive economic reports and historically low interest rates.

The Federal Reserve has ended its “QE3” bond purchases and next year is expected to begin raising the federal funds rate, which has been locked in range of zero to 0.25% since late 2008. But the world is still awash with cash, and stimulus moves by the European Central Bank and China’s central bank last week point the way to a continued flow of money into U.S. investments.

If the Federal Reserve begins raising rates next year, while other central banks are lowing theirs, the U.S. dollar may rise, hurting U.S. exports. This is why Rafferty Capital Markets analyst Richard Bove said last week that the Fed “cannot take actions that will harm trade and lower GDP growth. They know this and they will not push rates higher, in my view.”

That points the way to a continued rise in U.S. stock values, and last week’s central-bank moves were among the themes explored by Avi Gilburt on Monday when he suggested stocks would rise significantly in 2015.


U.S. stocks under pressure after November consumer confidence dips
NEW YORK (MarketWatch) — After a positive start to the day, U.S. stocks came under pressure amid a mixed bag of economic reports on Tuesday, highlighted by a report that showed consumer confidence dipping in November.
The S&P 500 and Dow Jones Industrial Average opened above their previous record levels on Tuesday, helped by a surprise upward revision to third-quarter GDP report, but gains soon faded.

The S&P 500 SPX, +0.10%   was flat after earlier setting a new intraday high. The Dow Jones Industrial Average DJIA, +0.15%  moved lower.

The Nasdaq Composite COMP, +0.14%  and Russell 2000 RUT, -0.21%  were flat.

Economic data: The revised GDP report showed that the economy expanded even faster than previously reported; however, analysts warned that the growth rate is likely unsustainable.

Weighing on sentiment was a surprise dip in consumer confidence index in November, as consumers were less optimistic about both current and upcoming conditions.

U.S. home prices were just about unchanged in September, as annual growth cooled to the slowest year-over-year pace in two years, moving the market closer to sustainable gains, according to data released Tuesday.

11/24 S&P 500 scores 46th record close

Administrator - Monday, 24 November 2014 07:11

Marijuana Stock Gainers thanks to: 


Medical Movers Today: +29.03% +22.27% +13.33% +11.84% +9.31% +5.28%


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Nasdaq Scans 11/24:

Active Options 11/24


After-hours buzz: Palo Alto Networks, Workday & more

Amgen – The biotech drug developer dropped in extended-hours trading after it said it was halting late-stage trials of its treatment for gastric cancer because patients who used it were more likely to die.

Brocade Communications Systems – The networking company slipped in after-hours trading after reporting fiscal fourth-quarter results.

Loral Space & Communications – The publicly traded shell company that owns a majority stake in Telesat Holdings gained in extended-hours trading after Bloomberg News reported Ontario Teachers’ Pension Plan and Public Sector Pension Investment Board are close to a $7 billion deal for Telesat, a Canadian satellite company.

Nuance Communications – The provider of voice and language technology gained in after-hours trading after posting strong fourth-quarter results.

Palo Alto Networks – The maker of networking-security equipment fell in extended-hours trading after reporting fiscal first-quarter results.

Workday – The maker of cloud-based HR software declined in after-hours trading after reporting losses widened in the third quarter.


ScreenHunter_05 Nov. 24 16.12

S&P 500 scores 46th record close
NEW YORK (MarketWatch) — The S&P 500 and Dow Jones Industrial Average closed at record levels on Monday, but it was the small-caps and the Nasdaq Composite who stole the show. Small-caps rallied and outperformed their large counterparts, in a sign that the bull market has further legs to go. Trading volumes were lower than usual, as the week is cut short by Thanksgiving holiday on Thursday. The S&P 500 SPX, +0.29% closed 5.91 points, or 0.3%, higher at 2,069.41, the 46th time it closed at record level this year. The Dow Jones Industrial Average DJIA, +0.04% dipped in an out of negative territory but closed marginally higher, adding 7.87 points to 17,817. The blue-chip index hit a record high for the 9th time this year. The Nasdaq Composite COMP, +0.89% ended the day up 41.92 points, or 0.9%, at 4,754.89. The Russell 2000 RUT, +1.21% rose 14 points, or 1.2% to 1,186.22.


Economic Calendar:

Early Movers: UTX, VZ, TSLA, LGA, RNA & more

U.S. stocks: Futures higher at the start of holiday-shortened week
LONDON (MarketWatch) — U.S. stock futures advanced Monday in a holiday-shortened week, suggesting Wall Street is ready to build on its multi-week run of gains.
Futures for the Dow Jones Industrial Average DJZ4, +0.19%  rose 34 points, or 0.2%, to 17,814 and those for the S&P 500 index SPZ4, +0.20%  tacked on 4 points, or 0.2%, to 2,065.60. Futures for the Nasdaq 100 NDZ4, +0.29%  climbed 11 points, or 0.2%, to 4,259.25.

The economic calendar is light with just the Chicago Fed national activity index due at 8:30 a.m. Eastern Time. But later in the week, which will be interrupted by the Thanksgiving Day holiday, investors will receive a stack of updates on housing, inflation and a revision in third-quarter gross domestic product for the U.S.

11/23 U.S. economy on course for steady growth

Administrator - Sunday, 23 November 2014 01:40

U.S. economy on course for steady growth
Businesses, consumers increase spending, are more optimistic
WASHINGTON (MarketWatch)—The economy has zigged and zagged repeatedly since exiting recession in 2009, but now it finally appears to be charting a steady course forward.

The U.S. is no speedy cigar boat, though. The economy is advancing at a relatively modest pace that’s below its historical average and growth is unlikely to race ahead soon. A raft of reports, such as consumer spending and business investment, in a holiday-shortened week will probably show the economy sticking to its current bearings.

Even as investors look toward 2015, the government will offer another glance back at the economy’s performance in late summer and early fall.

ScreenHunter_322 Nov. 22 20.17

Economists polled by MarketWatch expect U.S. growth in the third quarter to be ratcheted down to still-healthy 3.3% from 3.5%. The reason: Exports and business investment in plants and offices were probably somewhat weaker than initially reported.

Yet the flip side is that consumer spending may have been a bit stronger and there’s no reason to expect a slowdown in the fourth quarter, especially with a steep drop in gasoline prices giving consumers the equivalent of a year-end bonus. That’s good news, since consumer outlays drive more than two-thirds of U.S. economic activity.

In October, consumer spending is forecast to rise a solid 0.3% even though household bills for utilities probably declined owing to Goldilocks-like weather—neither too hot nor too cold. Retail sales figures already show that households boosted spending last month at online sellers, sporting-goods stores and clothing outlets, among other things.

Just as important incomes likely rose in October for the 10th straight month, adding to evidence that wages are beginning to rise, albeit slowly, after hardly any change in the past four years. The biggest spate of hiring in at least a decade is causing labor shortages in some professions that’s spurring companies to offer higher wages as a lure.

“Finally, just maybe, labor compensation is starting to pick up,” said Ethan Harris, global economist at Bank of America/Merrill Lynch.


Businesses have also begun to spend more. Investment outside defense and the volatile transportation sector surged during the summer before a surprise dip in September that economists predict will prove short-lived. So-called core orders, a key component of the monthly report on durable goods, are expected to snap back in October.

What could potentially upset business plans is slowing growth in China as well as slumping economies in Japan and Europe—key markets for American exports. Investors will watch for clues in the durables report on whether weaker global growth is starting to weigh on the U.S. economy.

“The manufacturing sector would likely be the first place where the effects of slower global growth would creep into the U.S. economy, but thus far the factory sector has held up in the face of headwinds,” economists at Wells Fargo wrote.

So for now the coast seems clear through the end of the year. Inflation and interest rates remain low. Businesses are still expanding and hiring. And consumers’ spirits have been lifted by rising employment, record stock gains and plunging gasoline prices—indeed a pair of reports this week are likely to show the mood of Americans is the most hopeful since early 2007.


Marathon stock momentum, confidence flash caution


SAN FRANCISCO (MarketWatch) — Stock prices retain unusual momentum and investor confidence is high heading into a holiday-shortened week, but winded bulls may be ready for a rest, market observers say.

With the Federal Reserve no longer adding assets to its balance sheet, stocks raced to new highs after the European Central Bank and China kicked off new stimulus measures on Friday. The Dow Jones Industrial Average DJIA, +0.51%  and the S&P 500 Index SPX, +0.52%  both finished the week up 0.5%, while the Nasdaq Composite Index COMP, +0.24%  closed up 0.2%.

One remarkable — and perhaps, unnerving — thing about how stocks have been climbing lately has been the consistency of the climb. On each of the past 26 trading days, the S&P 500 has closed above its 5-day moving average. That matches the longest streak of closes above the 5-day average in the past 50 years, which was set in March 1986, according to data from Jonathan Krinsky, chief market technician at MKM Partners.

On Friday, the S&P 500 closed at a record 2,063.50. Its 5-day moving average is 2,051.62.

“Given the seasonal trends, and the seeming need for underinvested participants to play catch-up, it seems unlikely we would see what we saw in 1998 (-8% in two weeks),” Krinsky noted. “On the other hand, there continue to be plenty of cautionary flags that suggest upside in the next week or two is unlikely to be great.”

With volumes expected to taper off going into Thanksgiving week, average trading volume for November is just over 2% higher than it was this time last year, but slightly lower than this time in 2012 and 2011.

11/21 U.S. stocks book 5th-straight week of gains

Administrator - Friday, 21 November 2014 08:01

Biggest OTC % Gainers/OTC % Losers /Top OTC Volume Movers 11/21 close:

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Active Options 11/21

ScreenHunter_17 Nov. 21 17.15

U.S. stocks book 5th-straight week of gains
NEW YORK (MarketWatch)—The U.S. stock market ended the week in rally mode Friday. Sparked by a surprise dose of liquidity measures launched by China’s central bank and dovish comments from European Central Bank President Mario Draghi on Friday, U.S. equities recorded their fifth-straight week of gains.

After timidly moving higher over the course of the past few trading sessions, more detailed talk of stimulus by economic world leaders at some of the biggest, and most sluggish, economies helped push stocks higher. Shares pulled back off their highs later in the trading day, as some of the initial unabashed elation wore off.

Still, the S&P 500 and Dow Jones Industrial Average registered its best one-day gains in more than two weeks and closed at record levels for the 45th and 28th times this year, respectively.

The S&P 500 SPX, +0.52%  closed 10.75 points, or 0.5% higher at 2,063.50, with broad-based gains led by materials and energy sector stocks. The benchmark index gained 1.2% over the week.

The Dow Jones Industrial Average DJIA, +0.51%  jumped 91.06 points, or 0.5%, to 17,810.06, and booked a 1% gain over the week.

The Nasdaq Composite COMP, +0.24%  rose 11 points, or 0.2%, to 4,712.97 and added 0.5% over the past five sessions.

J.J. Kinahan, chief derivatives strategist at TD Ameritrade, commenting on prices pulling back from even loftier levels speculated that the realization that today’s news from China and Europe was not all that good may be behind the fading of the rally.

“While in the short term, cutting rates and buying bonds by central banks is good for equities, the underlying reasons are not positive — those actions are a response to a slowing and weak demand. Their economies are in trouble,” said Kinahan.

“Also, the S&P 500 hit a resistance level at 2,071 and it’s not surprising to retrench a few times,” he added.

China’s central bank cut its one-year loan rate by 0.4 percentage points and its one-year deposit rate by 0.25 percentage points while saying it would allow more flexible deposit rates.

The ECB said it began buying asset-backed securities Friday, expanding its quantitative easing regimen.


[Most Recent Quotes from]

Gold, copper jump on central-bank news from China, Europe
China’s stimulus efforts seen lifting demand for industrial metals
NEW YORK (MarketWatch) — Gold prices climbed on Friday, reacting to dovish comments from European Central Bank President Mario Draghi and a surprise rate cut from China’s central bank.

Copper and other industrial metals also advanced as investors bet that China’s stimulus efforts will lead to more demand for those commodities from one of the world’s largest economies.

Gold for December delivery GCZ4, +0.81% settled at $1,197.70 an ounce, gaining $12.10 or 0.6% for the day. The contract traded above the $1,200 level that some traders watch closely, but wasn’t able to settle above that mark. December gold advanced 1% for the week. Meanwhile, December silver SIZ4, +1.91%  jumped 26 cents, or 1.6%, to settle at $16.40 an ounce, advancing 0.2% for the week.

“The world is now fully united in printing money and debasing currencies, a situation that cannot end well,” wrote Peter Hug, global trading director at Kitco Metals Inc., in emailed comments on Friday. He was referring to the latest developments in Europe and China. “Do the metals have downside risk, sure, but from a longer-term [perspective], these levels will prove inexpensive, when, not if, inflation grabs.”

High-grade copper for December delivery HGZ4, +0.45%  climbed by 1 cent, or 0.3%, to settle at $3.03 a pound, after also surrendering a larger intraday gain. The contract lost 0.7% for the week.


9:18am Bottom Play $ELRA .0009 Good News: Elray Gaming – Quarterly Update—quarterly-update-2014-11-21?mod=mw_share_twitter&n_play=546f4986e4b019f3e09e8a2a


Elray Resources Inc. (otcpk:ELRA) trading as Elray Gaming announced that as per its latest Quarterly Filing, Revenues are up by 50% on the last Quarter and Company Debt has been significantly reduced.
Brian Goodman, CEO stated that, “Whilst this year has been challenging, the Company is now making solid progress. The Casino Operations in Asia are performing well and our focus on increasing company revenues and reducing debt have shown excellent results. The Company has reduced its convertible debt by over 1.5 Million Dollars over the last few months and whilst the convertible debt has converted into equity the outlook for Elray is very positive and expectations are that business will continue to grow, new products will be launched, new relationships will be formed and revenues will continue to increase in the coming months.”


U.S. stocks: Futures rally on Chinese rate cuts, dovish Draghi
MADRID (MarketWatch) — A dovish European Central Bank President Mario Draghi and a rate cut from China’s central bank triggered a rally for stock futures on Friday, with the ground laid for another record-setting session for Wall Street.

Futures for the Dow Jones Industrial Average DJZ4, +0.59%  surged 114 points, or 0.6%, to 17,808, while those for the S&P 500 index SPZ4, +0.68%   jumped 28.75 points, or 0.6%, to 2,065.20. Futures for the Nasdaq-100 index NDZ4, +0.67%  rose 28.75 points, or 0.7%, to 4,274.

China’s central bank cut its one-year loan rate by 0.4 percentage points and its one-year deposit rate by 0.25 percentage points, and said it would allow more flexibility in deposit rates.

Ahead of that, Draghi said the central bank will do what it “must to raise inflation and inflation expectations as fast as possible,” at a banking conference in Frankfurt. The comments were taken as a sign the ECB will step-up asset buying.

Correction off the table for now: After China’s move, the majority of the world’s big central banks now have loose policies, while there’s growing consensus that the Fed and the Bank of England will hold off near-term tightening, said Benjamin Yip, senior analyst at Amplify Trading.

“In light of this, stocks have been bid for the majority of the morning session and apart from some de-risking of portfolios and balance sheets ahead of the weekend, we cannot see any reason for a major correction,” Yip said in a note.

On Thursday, the S&P 500 SPX, +0.20%  logged its 44th record close this year, though just a marginal 0.2% gain to 2,052.75. The Dow industrials DJIA, +0.19%  logged a 27th record close. Trading volumes were thin, something Goldman Sachs said investors should get used to in the coming year. See also: Crash-caller Schiff says Fed will cause the next one

Stocks to watch: Shares of Foot Locker Inc. FL, +2.37% rose 2% after the sports retailer‘s profit and sales beat estimates. Another sports retailer, Hibbett Sports Inc. HIBB, +3.03% jumped 4% after lifting its outlook. Ann Inc. ANN, -0.89%  will also report.

Gap Inc. GPS, -3.71%  could see premarket pressure, after results late Thursday missed Wall Street forecasts and the retailer delivered a disappointing full-year outlook.

Splunk Inc. SPLK, +8.10%  rose 8% after results topped analysts forecasts.

GameStop Corp. GME, -9.46%  fell 9% after a set of weak results and outlook late Thursday.

Wynn Resorts Ltd. WYNN, -1.21%  may take a hit in premarket trading, after The Wall Street Journal reported, citing sources, that the casino operator is being investigated by federal authorities over whether it broke money-laundering rules.

Europe rallies, euro hit: Europe got a big lift from Draghi’s comments and China, with the Stoxx 600 index SXXP, +1.60% up 1.7%, while the euro EURUSD, -0.93%  slid against the dollar. The yen USDJPY, -0.22%  rose against the dollar to around ¥117.83 after Japan Finance Minister Taro Aso said the yen decline had been “too fast.” The Nikkei 225 NIK, +0.33%  snapped a four-day losing streak, rising along with the yen.

Among other assets, gold GCZ4, +0.59%  and oil prices CLF5, +2.40%  were also higher.

11/20 U.S. stocks end higher; S&P 500, Dow at records

Administrator - Thursday, 20 November 2014 08:38

Biggest OTC % Gainers/OTC % Losers /Top OTC Volume Movers 11/20 close:

After-hours buzz: Gamestop, Hertz, Gap & more

Autodesk gained more than 3 percent in after-hours trade on the design software company’s fiscal third-quarter earnings, which reported an 11 percent increase in revenue from the same period a year ago.

Gamestop lost more than 12 percent in extended-hours trade after the video game retailer reported a slight decline in quarterly revenue, hurt by the delayed release of Assassin’s Creed Unity.

Marvell fell more than 2 percent in after-hours trade on news that the chipmaker posted lower-than-expected quarterly revenue because of weak demand for its chips.

Hertz gained nearly 2 percent in extended-hours trade after the car rental firm announced a new CEO, John Tague. He was preferred by activist investor Carl Icahn.

Splunk rose nearly 5 percent in after-hours trade after the data analytics software maker reported a 48 percent jump in quarterly revenue from the addition of 500 enterprise customers in the third quarter.

Gap fell nearly 5 percent in extended-hours trade after a 5.5 percent decline in U.S. sales caused the clothing retailer to miss revenue expectations and lower its full-year guidance.


ScreenHunter_319 Nov. 20 16.46

U.S. stocks end higher; S&P 500, Dow at records
NEW YORK (MarketWatch) — The U.S. stock market finished Thursday’s sleepy session amid low volumes slightly higher. Incremental gains on the S&P 500 and Dow Jones Industrial Average were enough for the indexes to notch new records. Action across sectors was more colorful, however. Gains in energy and technology sectors outweighed losses in healthcare and consumer staples sector stocks. Investors appeared to focus on positive earnings results from retailers such as Best Buy Co. and Urban Outfitters, while a rise in oil prices lifted energy stocks. Helping overall sentiment was a batch of data that pointed at continuing improvement in the economy. Small companies outperformed large companies, with the Russell 2000 adding 1.1% to 1,170.80. The S&P 500 SPX, +0.20% closed 4 points, or 0.2% higher at 2,052.76. The Dow Jones Industrial Average DJIA, +0.19% added 33.11 points, or 0.2%, to 17,718.84. The Nasdaq Composite COMP, +0.56% ended the day up 26.16 points, or 0.6%, at 4,701.87.


Gold rises as price drop tempts physical buyers


Gold rose on Thursday on data showing rising U.S. inflation, and after the previous day’s 1-percent drop triggered renewed physical interest by price-sensitive Asian buyers.
Bullion investors focused on U.S. Labor Department data which showed underlying inflation pressures rose in October, even though that also bolstered expectations of a mid-2015 interest rate hike from the Federal Reserve.

The gold market also ignored other data that showed a strengthening U.S. economy, including rising existing home sales and lower weekly jobless claims.

Bullion dropped on Wednesday after a poll showed weaker support among Swiss voters for a referendum proposal that would force the central bank to boost its gold reserves.

Dealers said appetite for physical gold among Asian buyers surged after prices fell to a low of $1,175 an ounce.

“We have certainly seen physical demand pick up on dips over the last couple of weeks after gold’s aggressive sell-off,” said David Meger, director of metals trading at brokerage Vision Financial Markets in Chicago.

ScreenHunter_320 Nov. 20 16.54

Spot gold was up 0.7 percent at $1,191.44 an ounce, while U.S. gold futures for December delivery settled down $3 an ounce at $1,190.90.

Earlier this month it slid to a 4-1/2 year low at $1,131.85.


‘Profits now, Apocalypse later’ as we head toward the chasing season
Critical intelligence before the U.S. market opens


U.S. consumer price index flat in October on lower energy costs
WASHINGTON (MarketWatch) – U.S. consumer prices were flat in October as plunging gasoline costs offset increases in housing, medical and airline fares, the government said Thursday. Economists polled by MarketWatch had forecast a 0.1% decline in the consumer price index. Energy prices dropped a seasonally adjusted 1.9% – the fourth straight decline – led by a 3% reduction in gasoline. Food prices rose 0.1%, the smallest gain in fourth months. The core CPI, which excludes volatile food and energy costs, rose by 0.2% last month. Americans are paying more for housing, especially rent, while costs also increased last month for household furnishings, airline tickets and medical care, including prescription drugs. Consumer prices have risen an unadjusted 1.7% over the past 12 months, slightly below the annual average over the past decade. Real or inflation-adjusted hourly wages, meanwhile, rose by 0.1% in October. Real wages are up just 0.4% in the past 12 months, though weekly wages have risen a stronger 0.9% because people are working longer hours.


U.S. weekly jobless claims little changed at 291,000
WASHINGTON (MarketWatch) – The number of people who applied for new unemployment benefits totaled fewer than 300,000 for the 10th straight week, reflecting the low level of layoffs in the U.S. economy as growth gradually picks up. Initial jobless claims fell by 2,000 to a seasonally adjusted 291,000 in the week ended Nov. 15, the Labor Department said Thursday. Economists surveyed by MarketWatch had expected claims to total around 280,000. The level of claims from two weeks ago was revised up to 293,000 from 290,000. Over the past month, meanwhile, the average of new claims rose by 1,750 to 287,500. The four-week average reduces seasonal volatility in the weekly data and is seen as a more accurate barometer of labor-market trends. Also, Labor said continuing claims decreased by 73,000 to a seasonally adjusted 2.33 million in the week ended Nov. 8. Continuing claims reflect the number of people already receiving benefits.


U.S. stocks: Futures fall as global data disappoints; consumer prices loom


MADRID (MarketWatch) — Stock futures fell Thursday after a batch of weak economic indicators from Europe and China, with the U.S. also set for a big day of data on manufacturing, consumer prices and existing-home sales.

“The market is consolidating at the higher end of this range, which is obviously at records, but basically it’s pretty good considering the runup we’ve had,” said Peter Cardillo, chief market economist at Rockwell Global Capital.

Futures for the Dow Jones Industrial Average DJZ4, -0.36%  dropped 71 points, or 0.4%, to 17,586, while those for the S&P 500 SPZ4, -0.38%  fell 9.6 points, or 0.5%, to 2,039.90. Futures for the Nasdaq-100 index NDZ4, -0.34%  slid nearly 20 points, or 0.5%, to 4,204.25.

Markit reported that the flash November reading for the composite purchasing managers index in the eurozone dropped to 51.4, its lowest level in 16 months. After the release, European stocks SXXP, -0.62%  tumbled, as did the euro EURUSD, -0.31%  versus the dollar.

The data confirms that the eurozone is still in rough shape. Germany’s own November preliminary manufacturing survey came in at 50.0, versus an expected 51.5. Stock futures were also dealing with weakness in a similar gauge out of China, which showed factory activity declined in November, after gaining in the prior month. PMI data out of Japan was also weak.

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GLD115.38  chart+0.27  chart +0.23%

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CIHN0.0023  chart+0.0004  chart +21.05%

JNSH0.017  chart-0.002  chart -10.53%

SRNA0.377  chart-0.028  chart -6.91%

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