by
Andy Swan -
Founder
of 
Markets took a beating as the day progressed yesterday. Every sign of a potential reversal to the upside was quickly followed by continued downside pressure. The negative sentiment in the early hours was primarily due to a negative same store sales report at 2.3% from Wal-Mart. After that was priced into the marker, Consumer Confidence numbers were released. The numbers beat expectations, but further investigation into the report revealed the outlook was bearish for the next 6 months. The Dow, S&P, and NASDAQ all closed lower on the trading session.
US stock futures are suggesting an open to the upside this morning. There are several pieces of data being released per today's economic calendar, but the only one that could really move the market is the release of the FOMC Minutes at 2:00 EST. Any bearish comments towards the near term economic outlook, or comments suggesting that rate hikes will be required after the June policy meeting will push stocks lower. The market is extremely sensitive to negative economic news right now, and will pay close attention to the Minutes this afternoon.
Crude Oil is trading a bit lower this morning at 71.55 per barrel. Gold is currently trading at 661.50 an ounce. The 10 year Treasury Note yield is down slightly today to 5.06% from 5.08% yesterday. DaytradeTeam will be watching all of the important economic indicators that move the market throughout the day. We will analyze and discuss the direction of the market with members inside out Live Trading Room. Click here to start a 5 day trial membership and see what all the buzz is about!
US stock futures are suggesting an open to the upside this morning. There are several pieces of data being released per today's economic calendar, but the only one that could really move the market is the release of the FOMC Minutes at 2:00 EST. Any bearish comments towards the near term economic outlook, or comments suggesting that rate hikes will be required after the June policy meeting will push stocks lower. The market is extremely sensitive to negative economic news right now, and will pay close attention to the Minutes this afternoon.
Crude Oil is trading a bit lower this morning at 71.55 per barrel. Gold is currently trading at 661.50 an ounce. The 10 year Treasury Note yield is down slightly today to 5.06% from 5.08% yesterday. DaytradeTeam will be watching all of the important economic indicators that move the market throughout the day. We will analyze and discuss the direction of the market with members inside out Live Trading Room. Click here to start a 5 day trial membership and see what all the buzz is about!
