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Looking Ahead to Wednesday's Market

August 14, 2012

by Don Moenning

Quick Recap of Tuesday’s Session:

Stocks finished narrowly mixed on Tuesday following another quiet session of trading. Major indices started the day gaining following better than expected Retail Sales here in the U.S. and a strong earnings report from Home Depot. Trading was choppy for the majority of the session as sell programs were in control of the intraday action. A selloff into the close led major indices into negative territory, though a last minute push higher left them narrowly mixed by the closing bell.

S&P 500 -0.01%, NASDAQ -0.18%, DJIA +0.02%, Midcaps -0.18%.

Looking Ahead to Wednesday:

  • Overnight we get employment data from the U.K.
  • Before the bell here in the U.S. we get MBA Mortgage Purchase Applications, Empire Manufacturing, and CPI.
  • Shortly after the open is Industrial Production & Capacity Utilization at 9:15am EST, followed by the NAHB Housing Market Index at 10:00am EST.
  • Tuesday was another extremely quiet August session. With the expectations of the Fed and the ECB / Euro leaders little changed, neither the bulls nor the bears have really pushed in either direction. On Wednesday we see a few relatively important economic figures (Empire Manufacturing, CPI), though it remains to be seen whether those numbers will be enough to push the market significantly…

     

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