STTG Market Recap September 9, 2014

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Indexes fell Tuesday as some underlying weakness we have begun to notice the past 3-4 sessions has finally hit a broader array of stocks. Treasury yields on the 10 year bond spiked back to the 2.50% range for the first time in a while; they have stayed strangely very low despite a lot of positive economic data. Some believe the Federal Reserve may raise interest rates more quickly than they have currently indicated but nothing from Janet Yellen has indicated this. Apple’s product announcements – widely followed – were not enough to move the stock. In the end the S&P 500 fell 0.65% and the NASDAQ 0.87%.

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STTG Market Recap September 3, 2014

GPRO

Another quiet session for the market as Wednesday was essentially the exact opposite of Tuesday with the NASDAQ leading the indexes down rather than up. The S&P 500 fell 0.08% and the NASDAQ 0.56% as Apple took a significant hit. As a major weight in the NASDAQ index, when Apple moves strongly one way or the other it affects the entire index. In economic news July factory orders rose in-line with expectations, while the Fed’s Beige Book found modest to moderate economic expansion. The European Central Bank is scheduled to hold its monthly policy meeting on Thursday and may announce the launch of a bond-buying program which could drive U.S. futures premarket.

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STTG Market Recap August 27, 2014

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A quiet day of rest and consolidation, consistent with a serious rally. The S&P 500 finished flat while the NASDAQ fell 0.02%. News flow was very light as we come to the end of summer and many are enjoying vacation; volume out there reflects this.

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STTG Market Recap August 19, 2014

Bespoke

Another gap up to start Tuesday as bulls have taken back control of the markets. After the initial surge at the open most of the rest of the day was quite quiet actually. The Commerce Department reported beginning home construction rose 15.7 percent last month from June, while starts for volatile multi-family homes jumped 33 percent.

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STTG Market Recap August 13, 2014

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Indexes gapped up at the open, rallied a bit more mid morning, and stayed steady the rest of the session. The S&P 500 gained 0.67% and the NASDAQ 1.02%. This marks the third significant up day out of four from last Thursday’s extreme oversold conditions. We shall soon see if this is another “V shaped” bounce as we saw throughout 2013, where the market broke down for a quick correction and once it turned back up it was straight up for a few weeks. That has no really been the case in 2014 other than for a few weeks in June. Today’s rally came in the face of a miss in the key retail sales figure – but it seems people are back to the “modest economic data means the Federal Reserve sticks around longer” thesis.

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STTG Market Recap July 28, 2014

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Stocks sold off moderately Monday morning but dip buyers came in yet again – a pattern we have now seen for 2 months – and indexes close near unchanged. The S&P 500 gained 0.03% while the NASDAQ dropped 0.10%. News flow was light; keep in mind we do have the Federal Reserve meeting Tuesday and Wednesday but they have telegraphed their intentions so no fireworks will come of this. We also have the monthly employment data coming Friday. There was another weak housing report today as the National Association of Realtors said pending-home sales were down 1.1 percent in June.

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STTG Market Recap July 23, 2014

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Indexes were up most of the session as a surge by Apple (AAPL) helped lift things; this is a massive component of the NASDAQ. The S&P 500 gained 0.18% and the NASDAQ 0.40%. It was a very busy day with a lot of blockbuster companies reporting so we’ll focus on that today.

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STTG Market Recap July 22, 2014

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It has been choppy action of late after the surge we had early in July during the holiday week. Stocks exited that week very overbought short term and since then we had a needed minor pullback followed by some geopolitical issues. All in all things are doing well in the large cap area while small caps have been a bit more troubled. So for the indexes we focus on each day things look ok. Today the S&P 500 gained 0.50% and NASDAQ 0.71%. In economic news, the consumer price index rose 0.3 percent last month after a 0.4 percent rise in May. The core measure, which does not take food and energy costs into account, increased 0.1 percent.

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