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 Post subject: October 13th Friday Trade Results - No Trades
PostPosted: Sat Oct 14, 2017 9:16 am 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3020
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
TheStrategyLab Reviews: http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
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Quote:
No trades today for me. One of my kid's had no school today. I spent the day doing activities with him like going to the movie theater and watching his hockey practice. Also, it was a schedule rest day for me.

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $0.00 dollars

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis.

Russell 2000 Emini RTY Futures: 1 tick or 0.10 = $5.00 dollars and there's more contract information @ CMEGroup (formerly as TF @ The ICE)
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=172&t=2670

All of my trades are posted real-time at the above link for today's archive chat log in the timestamp ##TheStrategyLab free chat room via the user name wrbtrader for anyone to do a real-time review (you must be a member of the chat room for a real-time review). Although the trades are posted by me and other users of WRB Analysis...this is not a signal calling chat room and this is not a live trading room that has a head trader telling you what to do. I'm the moderator (I keep the peace between members) and my own live trades are posted within 3.2 seconds on average after the trade confirmation in my broker trade execution platform via an auto script to minimize delays in posting of my trades. You can review today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility...all key concepts from the WRB Analysis free study guide even though the free chat room is not design to be an education chat room because the education is only performed at the forums in the private threads.

Quote:
2017 has been the most difficult trading year since I've begun trading +25 years ago because successful trading involves more than just trade methods than any other trading year. This is a key concept many traders have difficulties in understanding. Some blame it on algorithms while I blame it on the inability to adapt, failure to backtest, failure to document trades (real-money or simulator) and underestimating how our environment influences our cognitive decision making while trading.

Image ##TheStrategyLab Chat Room is free. The free chat room is not a signal calling trading room nor is it a live trading room with a head trader even though members of the chat room are posting their trades & market analysis in real-time. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of TheStrategyLab free chat room is for you to use as your trade journal so that you can use as valuable feedback about your own trading and for members to help each other...as in more eyes on the market. In addition, we highly recommend that you use the free chat room with a professional trade journal software like tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because they can provide you with the quantitative statistical analysis of your trading. You can then download your results and post them in your private thread at the forum.

Also, you can use TheStrategyLab free chat room to ask real-time WRB Analysis questions. Yet, please do not post your quantitative statistical analysis, brokerage statements in the free chat room. Instead, its highly recommended that you only post that particular information in your private thread for security reasons. Yet, if you want to post that type of information at another website, blog or chat room...that's your choice.

TheStrategyLab free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages, many different mobile apps, many different types of social media software can be used to log in along with IRC being easier to moderate via script codes when trouble makers, spammers and trolls show up. I'm the moderator of the free chat room via the user name wrbtrader. Thus, I keep the peace between members without hesitation in removing problematic traders so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled or harassed.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell nor do we allow the free chat room to be used for mentoring because we do not offer a mentoring service. The purpose of TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. If you join the free chat room and then you decide to not post any WRB Analysis about the price action or you decide to not post your trades or you decide to be silent (lurk without saying a word about today's markets)...you're not using the free chat room properly to help improve your trading.

In fact, we do not want silent (lurkers) traders to join the free chat room unless they are actively posting at the forum about their trading after the markets close. Access instructions for the free chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Yet, I'm always backtesting new concepts of WRB Analysis, new trade entry rules, new trade management rules, new position size management rules before application in real money trades (small position size trades) to adapt to changed market conditions prior to large position size trades or sharing the new concepts with fee-base clients...living up to the name of my website. TheStrategyLab.

Also, posted below for you to review are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=331&t=3532 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives for easy review to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker PnL statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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click on the above image to view today's price action of key markets

The Market at 04:30PM ET
Dow: +30.71… | Nasdaq: +14.29… | S&P: +2.24…
NASDAQ Vol: 1.76 bln… Adv: 1396… Dec: 1417…
NYSE Vol: 768.1 mln… Adv: 1742… Dec: 1165…

Moving the Market

The heavily-weighted financial sector holds steady after Bank of America (BAC) beats earnings estimates; Wells Fargo's (WFC) earnings fall short

Core CPI for September misses estimates (+0.1% actual vs +0.2% Briefing.com consensus); interest rates move lower

Health care stocks lag after President Trump ends cost-sharing reduction payments, which are a part of the Affordable Care Act

Top-weighted technology sector outperforms amid broad strength

Sector Watch
Strong: Consumer Discretionary, Materials, Technology
Weak: Industrials, Energy, Health Care, Utilities, Telecom Services
04:30PM ET

[BRIEFING.COM] Stocks finished near the bottom of their narrow trading ranges on Friday, but still managed to eke out a narrow victory. The Nasdaq (+0.2%) finished at a new record high while S&P 500 (+0.1%) and the Dow (+0.1%) settled just a tick below their record marks. Small caps underperformed, sending the Russell 2000 lower by 0.2%. For the week, the S&P 500 added 0.2%.

Financials dominated the earnings front again on Friday after kicking off the third quarter earnings season in the prior session. Bank of America (BAC 25.83, +0.38) surpassed earnings expectations, but Wells Fargo (WFC 53.69, -1.52) disappointed, missing both top and bottom line estimates. As a result, BAC shares climbed 1.5% while WFC shares dropped 2.8%.

The S&P 500's financial sector opened the session with a sizable loss of around 0.9%, but quickly bounced back. In the end, the sector finished little changed.

Investors received several pieces of influential economic data on Friday, including the core Consumer Price Index, which increased less-than-expected in September (+0.1% actual vs +0.2% Briefing.com consensus). The core CPI differs from the total CPI in that it excludes the volatile categories of food and energy.

The cooler-than-expected reading sent Treasury yields into the red; the benchmark 10-yr yield dropped four basis points to 2.28%. However, it didn't have much effect on the market's rate-hike expectations. At the closing bell, the CME FedWatch Tool placed the chances of a December rate hike at 82.9%, virtually unchanged from 82.7% on Thursday.

In total, five of the S&P 500's eleven sectors finished Friday with gains. The technology group (+0.5%) was among the top performers, benefiting from broad strength. HP (HPQ 21.71, +1.31) showed particular resolve, jumping 6.4% to its best mark in over seven years, after raising its guidance for fiscal year 2018 on Thursday evening.

The materials sector (+0.5%) also outperformed, thanks in part to steel and iron ore companies, which rallied after China's monthly imports of iron ore hit an all-time high in September. Reports that President Trump may be fighting for rules in NAFTA that would require automakers to use North American steel also helped fuel buying interest.

On the flip side, industrial stocks slipped, especially transportation names, which sent the Dow Jones Transportation Average lower by 1.0%. JB Hunt Transport (JBHT 104.01, -4.34) was the DJTA's weakest performer, dropping 4.0%, after reporting worse-than-expected earnings.

The health care sector (-0.3%) also lagged, with health insurers like Anthem (ANTM 183.83, -5.91) and Humana (HUM 237.73, -3.71) showing particular weakness following the White House's decision to end the Affordable Care Act's cost-sharing reduction payments. The two companies finished with losses of 3.1% and 1.5%, respectively.

President Trump announced that he will not be certifying the Iran nuclear deal, essentially kicking the deal to Congress, which will have 60 days to decide whether to impose sanctions on Iran that were lifted under the agreement. If Congress does nothing, Mr. Trump vowed to end the accord.

Reviewing Friday's big batch of economic data, which included the Consumer Price Index for September, Retail Sales for September, the preliminary October reading for the University of Michigan Consumer Sentiment Index, and Business Inventories for August:

Total CPI increased 0.5% (Briefing.com consensus 0.6%) in September while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus 0.2%).
The headline numbers were a little softer than expected, which will create some chatter that they could sway the Fed into thinking that it would be prudent to hold off on a rate hike at its December meeting. The key takeaway from our vantage point, though, is that the September CPI report hasn't run afoul of the Fed's price stability mandate. To that end, total CPI is up 2.2% year-over-year, versus 1.9% in August, and core CPI is up 1.7% for the fifth month in a row.
September retail sales increased 1.6% (Briefing.com consensus +1.5%). The prior month's reading was revised to -0.1% from -0.2%. Excluding autos, retail sales increased 1.0% while the Briefing.com consensus expected an increase of 0.8%. The prior month's reading was revised to +0.5% from +0.2%.
The key takeaway from the report is that core retail sales, which exclude auto, gas, building material, and food services and drinking place sales, and which factor into GDP computations, increased a solid 0.6%.
The preliminary reading of the University of Michigan Consumer Sentiment Index for October rose to 101.1 (Briefing.com consensus 95.6) from 95.1 in September.
The key takeaway from the report is that the positive sentiment occurred among all age and income groups and across all partisan viewpoints. That should presumably bode well for consumer spending, which is the most important driver of GDP growth.
Business Inventories rose 0.7% in August, which is in line with the Briefing.com consensus. The July reading was revised to 0.3% from 0.2%.
The key takeaway from the report is that the inventory build will be a positive component for Q3 GDP forecasts.

On Monday, investors will receive just one piece of economic data--the October Empire State Manufacturing Survey (Briefing.com consensus 21). The report will be released at 8:30 ET.

Nasdaq Composite +22.7% YTD
Dow Jones Industrial Average +15.7% YTD
S&P 500 +14.0% YTD
Russell 2000 +10.7% YTD

Week In Review: Stocks Tick Up As Earnings Season Gets Under Way

The stock market moved modestly higher this week, touching new record highs yet again. The Dow led the advance, adding 0.4%, while the Nasdaq and the S&P 500 each settled with gains of 0.2% apiece. The small-cap Russell 2000 struggled, however, ending the week with a loss of 0.5%.

Financials kicked off the third quarter earnings season on a mostly higher note; JPMorgan Chase (JPM), Citigroup (C), and Bank of America (BAC) all reported better-than-expected earnings. However, Wells Fargo (WFC) missed both top and bottom line estimates. Despite the largely positive showing, the S&P 500's financial sector moved lower, dropping 0.9%.

The retreat wasn't all that surprising as the financial sector did ride a four-week rally into earnings season--climbing 10.6% from September 7 to October 6--and, therefore, was likely overdue for a pull back. A decline in Treasury yields also worked against the sector, which typically benefits from an increase in interest rates. The benchmark 10-yr yield dropped eight basis points to 2.28%.

Softer-than-expected consumer prices had a hand in pushing Treasury yields lower, but did little to dial back the market's rate-hike expectations. The Consumer Price Index increased less than expected in September (0.5% actual vs 0.6% Briefing.com consensus), as did the core Consumer Price Index, which excludes food and energy (0.1% actual vs 0.2% Briefing.com consensus).

The minutes from the September FOMC meeting were also released this week, but contained little to no new information. In short, the minutes showed that the Fed favors staying on a path of gradual rate hikes, although there was growing concern that the factors keeping a lid on inflation may not be transitory after all.

Following this week's events, the CME FedWatch Tool places the chances of a December rate hike at 82.9%, down modestly from 93.1% last week.

Industrial heavyweight General Electric (GE) had a rough showing this week, dropping 5.8%, after announcing that several of its top executives will be leaving the company. JPMorgan lowered its target price for the company to $20 from $22, which weighed on GE shares as well.

AT&T (T) was another notable laggard this week after announcing that its video subscribers declined for the third quarter in a row; the wireless giant finished with a loss of 7.5%.

On a positive note, the world's largest retailer--Wal-Mart (WMT)--jumped 9.7% this week after announcing a new return service that will allow its customers to return items they purchased online or in the store in under 30 seconds. Wal-Mart's brick-and-mortar locations potentially give the company an advantage over internet-based names like Amazon (AMZN) in the area of returns.

Wal-Mart's positive performance helped the S&P 500's consumer staples sector (+1.5%) settle alongside the technology (+1.3%), utilities (+1.3%), and real estate (+1.8%) groups at the top of the sector standings. On the flip side, the telecom services sector was by far the weakest performer--thanks mostly to AT&T--finishing with a loss of 4.6%.

Dow: +30.71… | Nasdaq: +14.29… | S&P: +2.24…

NASDAQ Adv/Dec 1396/1417. …NYSE Adv/Dec 1742/1165.

03:00PM ET

[BRIEFING.COM] The major averages are modestly higher moving into the final stretch.

Looking ahead, earnings season will be in full swing next week with eight Dow components on the docket. Johnson & Johnson (JNJ 136.64, -0.19), UnitedHealth (UNH 192.19, -0.72), and IBM (IBM 147.24, +0.21) will report on Tuesday, American Express (AXP 92.63, +1.02) on Wednesday, Travelers (TRV 126.61, +0.66) and Verizon (VZ 48.03, -0.31) on Thursday, and General Electric (GE 23.02, -0.03) and Procter & Gamble (PG 93.22, +1.08) on Friday.

Seven sectors are currently on track to end the week with gains--real estate (+1.8% WTD), consumer staples (+1.6% WTD), technology (+1.4% WTD), utilities (+1.2% WTD), materials (+0.8% WTD), energy (+0.4% WTD), and industrials (+0.1% WTD)--while four are on track to end with losses--health care (-0.6% WTD), consumer discretionary (-0.6% WTD), financials (-0.8% WTD), and telecom services (-4.3% WTD).

Dow: +40.65… | Nasdaq: +19.28… | S&P: +4.54…

NASDAQ Adv/Dec 1511/1348. …NYSE Adv/Dec 1805/1076.

02:30PM ET

[BRIEFING.COM] Stocks have ticked down slightly in recent action, but the major U.S. indices are still in position to settle at new all-time highs.

The lightly-weighted utilities sector (-0.9%) has slipped to a fresh session low in recent action and currently hovers at the very bottom of today's sector standings. Pacific Gas and Electric (PCG 56.55, -7.95) is by far the weakest component within the group, plunging 12.3% amid concerns tied to the wildfires in California. PG&E is headquartered in San Francisco and provides electricity and natural gas to most of northern California. 31 people have died since Sunday evening due to the wildfires.

In the bond market, U.S. Treasuries are hovering at fresh session highs, sending yields deeper into negative territory. The benchmark 10-yr yield is down four basis points at 2.28% while the 2-yr yield has slipped just one basis point to 1.49%. Meanwhile, the U.S. Dollar Index hovers at its unchanged mark (92.92).

Dow: +37.30… | Nasdaq: +17.37… | S&P: +4.18…

NASDAQ Adv/Dec 1444/1400. …NYSE Adv/Dec 1766/1097.

02:00PM ET

[BRIEFING.COM] The major averages are trending sideways this afternoon, holding gains of around 0.2% apiece.

Transports are struggling today, sending the Dow Jones Transportation Average lower by 0.7%. Within the transportation average, JB Hunt Transport (JBHT 104.53, -3.82) is the weakest performer, dropping 3.6% after reporting worse-than-expected earnings this morning. However, the company did beat revenue expectations.

Although transports are lagging today, they're trading ahead of the broader market for the week; the DJTA currently holds a week-to-date gain of 0.9%.

Dow: +46.15… | Nasdaq: +20.42… | S&P: +5.04…

NASDAQ Adv/Dec 1486/1358. …NYSE Adv/Dec 1823/1045.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue their slow grind higher with stocks near the highs of the day.

A look inside the Dow Jones Industrial Average shows that Procter & Gamble (PG 93.41, +1.26), American Express (AXP 92.69, +1.08), & Visa (V 109.09, +0.98) are outperforming. Visa is advancing after this morning being initiated with an Overweight rating by analysts at Stephens.

Conversely, Goldman Sachs (GS 238.60, -1.20) is the worst-performing Dow component as financials lag the broader market following earnings from Bank of America (BAC 25.78, +0.33), Wells Fargo (WFC 53.32, -1.89), and others. Goldman will report its quarterly results Tuesday morning.

As the end of the Friday trading session nears, the DJIA is up 0.50% week-to-date.

Dow: +49.81… | Nasdaq: +22.69… | S&P: +6.03…

NASDAQ Adv/Dec 1495/1341. …NYSE Adv/Dec 1812/1050.

01:05PM ET

[BRIEFING.COM] The major U.S. indices are drifting at record highs this afternoon, bouncing back from Thursday's modest decline. The tech-heavy Nasdaq (+0.3%) shows relative strength while the S&P 500 and the Dow hold gains of 0.2% apiece. Meanwhile, the small-cap Russell 2000 underperforms and currently trades at its unchanged mark.

Day two of earnings season was highlighted by financial heavyweights once again as Bank of America (BAC 25.80, +0.35) and Wells Fargo (WFC 53.41, -1.80) delivered their quarterly results. Bank of America is up 1.4% after reporting better-than-expected earnings while Wells Fargo is down 3.3% after missing both top and bottom line estimates.

The S&P 500's financial sector began today's session with a sizable loss of around 0.9%, but has since climbed into positive territory and currently holds a gain of 0.1%.

Investors received a number of economic reports this morning, with arguably the most notable being the core Consumer Price Index for September due to its impact on rate-hike expectations. The core CPI, which excludes the volatile categories of food and energy, rose just 0.1% in September, while the Briefing.com consensus expected an increase of 0.2%.

Year-over-year, the core CPI is still below the Fed's target of 2.0%, hovering at 1.7% for the fifth month in a row. The below-consensus reading has created some chatter that the Fed should consider holding off on increasing rates in December, but the market isn't buying it; the CME FedWatch Tool places the chances of a December rate hike at 82.9%, virtually unchanged from yesterday's 82.7%.

However, Treasury yields have moved lower today, retreating, once again, from last week's multi-month highs. The benchmark 10-yr yield is down three basis points at 2.29%, which is seven basis points below the three-month high it posted last Friday. Meanwhile, the 2-yr yield is down one basis point at 1.49%.

The S&P 500's health care sector (-0.3%) is underperforming in today's session after the White House announced on Thursday evening that President Trump will end the Affordable Care Act's cost-sharing reduction payments, which are payments from the government to insurers designed to alleviate copay and deductible costs for people with lower incomes.

Hospital stocks like Community Health (CYH 5.66, -0.35) and Tenet Healthcare (THC 13.30, -0.56) show particular weakness, as do managed healthcare names like Anthem (ANTM 185.02, -4.72) and Humana (HUM 237.93, -3.51); the four companies hold losses between 1.4% and 5.7%.

On the upside, steel and iron ore stocks are trading solidly higher after China's monthly imports of iron ore hit an all-time high in September and following reports that President Trump may be fighting for rules in NAFTA that would require automakers to use North American steel. U.S. Steel (X 27.44, +1.88) and AK Steel (AKS 5.78, +0.29) show particular strength, sporting respective gains of 7.4% and 5.3%.

Reviewing Friday's big batch of economic data, which included the Consumer Price Index for September, Retail Sales for September, the preliminary October reading for the University of Michigan Consumer Sentiment Index, and Business Inventories for August:

Total CPI increased 0.5% (Briefing.com consensus 0.6%) in September while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus 0.2%).
The headline numbers were a little softer than expected, which will create some chatter that they could sway the Fed into thinking that it would be prudent to hold off on a rate hike at its December meeting. The key takeaway from our vantage point, though, is that the September CPI report hasn't run afoul of the Fed's price stability mandate. To that end, total CPI is up 2.2% year-over-year, versus 1.9% in August, and core CPI is up 1.7% for the fifth month in a row.
September retail sales increased 1.6% (Briefing.com consensus +1.5%). The prior month's reading was revised to -0.1% from -0.2%. Excluding autos, retail sales increased 1.0% while the Briefing.com consensus expected an increase of 0.8%. The prior month's reading was revised to +0.5% from +0.2%.
The key takeaway from the report is that core retail sales, which exclude auto, gas, building material, and food services and drinking place sales, and which factor into GDP computations, increased a solid 0.6%.
The preliminary reading of the University of Michigan Consumer Sentiment Index for October rose to 101.1 (Briefing.com consensus 95.6) from 95.1 in September.
The key takeaway from the report is that the positive sentiment occurred among all age and income groups and across all partisan viewpoints. That should presumably bode well for consumer spending, which is the most important driver of GDP growth.
Business Inventories rose 0.7% in August, which is in line with the Briefing.com consensus. The July reading was revised to 0.3% from 0.2%.
The key takeaway from the report is that the inventory build will be a positive component for Q3 GDP forecasts.

Dow: +42.36… | Nasdaq: +22.14… | S&P: +5.50…

NASDAQ Adv/Dec 1495/1330. …NYSE Adv/Dec 1835/1021.

12:30PM ET

[BRIEFING.COM] Equity indices are still drifting modestly above their flat lines this afternoon, with the Nasdaq (+0.3%) exhibiting relative strength.

The White House announced on Thursday evening that President Trump will end the Affordable Care Act's cost-sharing reduction payments, which are payments from the government to insurers designed to alleviate copay and deductible costs for people with lower incomes. However, reports indicate that the president may be using the cuts to ramp up health care negations on Capitol Hill.

Health care names within the S&P 500 are modestly lower today, showing a loss of 0.3%. For the week, the health care sector holds a loss of 0.7%.

Dow: +39.54… | Nasdaq: +22.56… | S&P: +5.41…

NASDAQ Adv/Dec 1492/1326. …NYSE Adv/Dec 1828/1004.

12:00PM ET

[BRIEFING.COM] Equity indices have not changed since the last update; the S&P 500 is still up by 0.2%. For the week, the benchmark index is higher by 0.3%.

The top-weighted technology sector (+0.6%) trades comfortably ahead of the broader market going into the afternoon session, with HP (HPQ 21.78, +1.38) exhibiting particular strength. The company has jumped 5.8% in today's session, hitting its best level in over seven years, after raising its fiscal 2018 guidance on Thursday evening.

Chipmakers are also outperforming, evidenced by the PHLX Semiconductor Index, which is up 0.9%. NVIDIA (NVDA 194.36, +3.33) is among the strong semiconductor components, adding 1.7%, after Needham raised the company's target price to $250 this morning.

For the week, the tech group holds a gain of 1.4%.

Dow: +41.38 … | Nasdaq: +21.13… | S&P: +5.14…

NASDAQ Adv/Dec 1509/1317. …NYSE Adv/Dec 1834/980.

11:30AM ET

[BRIEFING.COM] Equity indices continue hovering near their recent levels, with the Nasdaq (+0.3%) showing relative strength.

Steel and iron ore stocks are trading solidly higher this morning in reaction to China's monthly imports of iron ore, which hit a new record high in September, surging above 100 million metric tons. Steel stocks have also been boosted by a Bloomberg report that President Trump might propose stricter automotive content rules in NAFTA that would require automakers to use North American steel.

U.S. Steel (X 27.55, +2.00) and AK Steel (AKS 5.79, +0.31) show particular strength, sporting respective gains of 7.8% and 4.5%. The two companies are based in Pennsylvania and Ohio, respectively, which were two key "rust belt" states that helped Donald Trump secure the presidency.

The lightly-weighted materials sector (+0.6%), which houses the two aforementioned companies, trades near the top of today's leaderboard.

Dow: +39.91… | Nasdaq: +19.63… | S&P: +4.93…

NASDAQ Adv/Dec 1582/1203. …NYSE Adv/Dec 1942/879.

10:55AM ET

[BRIEFING.COM] Equities have extended their opening gains this morning, sending the major indices to new record highs. The S&P 500 currently sports a gain of 0.2%.

The heavily-weighted financial sector was trading solidly lower earlier this morning, holding a loss of 0.9% at its worst mark of the day. However, the group has been climbing for the last hour or so and now trades in positive territory with a gain of 0.2%. Bank of America (BAC 25.71, +0.26) shows particular strength, adding 1.0%, after reporting better-than-expected earnings.

On the down side, Wells Fargo (WFC 53.53, -1.68) has dropped 3.1% in reaction to its earnings report, which showed below-consensus earnings and revenues.

In total, eight of the S&P 500's eleven sectors are trading in positive territory with gains ranging between less than 0.1% and 0.6%. The three declining sectors are health care (-0.4%), utilities (-0.1%), and telecom services (-0.4%). For the week, the telecom services group is by far the worst performer, showing a loss of 4.4%.

Dow: +21.21… | Nasdaq: +17.89… | S&P: +4.47…

NASDAQ Adv/Dec 1615/1169. …NYSE Adv/Dec 1898/867.

10:30AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.63% at 85.6652
Dollar index is currently down 0.28% at 92.84.
Oct WTI crude is higher this morning.
Futures are up $0.24 lower to $49.53/barrel.
In other energy, Oct natural gas is down $0.028 at $2.835 /MMBtu
Metals:
Dec gold gained $11.90 and trades at $1286.80/oz, while Sept silver dropped $0.195 to $16.985/oz
Sept copper is flat at $3.029/lb
Finally, agriculture:
Dec corn is $0.004 lower at $3.494/bu.
Nov soy is down $0.05 at $9.672/bu.
Dec wheat is down $0.074 at $4.36/bu.

Dow: +61.27… | Nasdaq: +24.88… | S&P: +6.2…

NASDAQ Adv/Dec 1605/1139. …NYSE Adv/Dec 1930/818.

10:00AM ET

[BRIEFING.COM] The major U.S. indices continue drifting a step above their unchanged marks.

Just in, the preliminary reading of the University of Michigan Consumer Sentiment Index for October rose to 101.1 (Briefing.com consensus 95.6) from 95.1 in September.

Separately, Business Inventories rose 0.7% in August, which is in line with the Briefing.com consensus. The July reading was revised to 0.3% from 0.2%.

Dow: +32.74… | Nasdaq: +13.35… | S&P: +2.76…

NASDAQ Adv/Dec 1365/1300. …NYSE Adv/Dec 1651/1014.

09:45AM ET

[BRIEFING.COM] The S&P 500 and the Nasdaq hit new record highs at the opening bell and currently hold gains of 0.1% and 0.2%, respectively. Meanwhile, the Dow is up 0.2% and hovers about ten points below its all-time high.

Most of the S&P 500's 11 sectors are trading in the green this morning, but there are a few notable decliners, including financials (-0.7%), health care (-0.4%), and telecom services (-0.8%). The energy sector (+0.8%) is the strongest group, moving in tandem with the price of crude oil, which is up 1.7% at $51.45/bbl. The top-weighted technology sector also outperforms, sporting a gain of 0.5%.

Another batch of economic data, which includes the preliminary October reading for the University of Michigan Consumer Sentiment Index (Briefing.com consensus 95.6) and August Business Inventories (Briefing.com consensus +0.7%), will be released at 10:00 ET.

Dow: +34.15… | Nasdaq: +12.22… | S&P: +2.25…

NASDAQ Adv/Dec 1436/1173. …NYSE Adv/Dec 1779/815.

09:19AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +22.90.

The stock market looks poised to open Friday's session with a modest gain as the S&P 500 futures currently trade six points, or 0.2%, above fair value. Coming into today's session, the benchmark S&P 500 index holds a slim week-to-date gain of 0.1%.

Bank of America (BAC 25.41, -0.02) and Wells Fargo (WFC 53.92, -1.24) reported their quarterly earnings this morning, but the results were mixed; Wells Fargo missed both top and bottom line estimates while Bank of America reported above-consensus earnings. WFC shares are down 2.4% in pre-market action while BAC shares show a modest loss of 0.2%.

On the data front, the Consumer Price Index increased 0.5% in the month of September, missing the Briefing.com consensus estimate of +0.6%, while core CPI--which excludes food and energy--rose 0.1%, also falling short of the Briefing.com consensus (+0.2%). On a year-over-year basis, total CPI and core CPI are up 2.2% and 1.7%, respectively.

The cooler-than-expected report is seen as a positive for the market as it strengthens the argument that the Fed should avoid hiking rates at its December meeting.

Investors also received the September Retail Sales Report, which showed a month-over-month increase of 1.6% (Briefing.com consensus 1.5%). The core reading, which excludes auto sales, also beat estimates, showing a month-over-month increase of 1.0% (Briefing.com consensus 0.8%).

U.S. Treasuries retraced their modest losses and moved into positive territory following this morning's batch of economic data, sending yields into the red. The benchmark 10-yr yield is down three basis points at 2.29%. Meanwhile, the U.S. Dollar Index is down 0.3% at 92.69 after holding a modest gain ahead of the data release.

Today's last pieces of economic data--the preliminary reading for the University of Michigan Consumer Sentiment Index for October (Briefing.com consensus 95.6) and Business Inventories for August (Briefing.com consensus +0.7%)--will both be released at 10:00 ET.

Also of note, Senator Ted Cruz (R-TX) said that tax reform may not be passed until early next year. The GOP previously stated that its goal was to pass tax reform by the end of 2017.

08:52AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +20.80.

The S&P 500 futures trade five points, or 0.2%, above fair value.

Equity indices in the Asia-Pacific region ended the week on a higher note. Samsung issued upbeat guidance for the third quarter and announced that its CEO Kwon Oh-hyun will resign, allowing a younger leader to take charge. South Korea's Finance Ministry announced a three-year extension of its currency swap agreement with China. The Reserve Bank of Australia's October Financial Review showed that the central bank will conduct a top-down stress test for domestic banks. Coalition talks in New Zealand will extend into next week.

In economic data:
China's September trade surplus $28.47 billion (expected $39.50 billion; last $41.99 billion). September Exports +8.1% year-over-year (consensus 8.8%; last 5.5%) and September Imports +18.7% year-over-year (consensus 13.5%; last 13.3%)
Japan's M2 Money Stock +4.1% year-over-year (consensus 4.0%; last 4.0%)
Singapore's Q3 GDP +6.3% quarter-over-quarter (expected 3.2%; last 2.4%); +4.6% year-over-year (consensus 3.8%; last 2.9%)

---Equity Markets---

Japan's Nikkei gained 1.0%, extending its weekly gain to 2.2%. SUMCO, Fast Retailing, Familymart, Suzuki Motor, J Front Retailing, Tokyo Electron, and Dentsu advanced between 1.6% and 5.7%. Kobe Steel lost 8.7% after admitting that it also falsified data on steel wire products.
Hong Kong's Hang Seng added 0.1%, gaining 0.1% for the week. Cathay Airways, AAC Technologies, Lenovo Group, and Geely Automobile climbed between 0.9% and 3.9% while gaming names lagged. Galaxy Entertainment lost 1.5% and Sands China fell 0.8%.
China's Shanghai Composite ticked up 0.1%, gaining 1.2% for the week.
India's Sensex settled higher by 0.8%, jumping 3.7% for the week. Bharti Airtel spiked 7.9% after agreeing to acquire Tata Group's mobile business. Financials like HDFC Bank, ICICI Bank, AXIS Bank, and SBI posted gains between 0.3% and 1.9%. Tech consultants Infosys and Tata Consultancy gained 0.5% and 0.3% respectively, while Wipro lost 0.2%.

Major European indices trade near their flat lines. The European Central Bank is reportedly considering a 50.0% reduction to its monthly purchases (to EUR30 billion) that would be coupled with an extension of the purchasing program until at least September 2018. The euro backpedaled against the dollar in response to the report, returning beneath its 50-day moving average of 1.1845. Outgoing German Finance Minister Wolfgang Schaeuble said he expects Germany to have a coalition government in place before Christmas. Reports from Spain suggest Catalan President Carles Puigdemont is being pressured to confirm the Catalan declaration of independence. On Wednesday, Mr. Puigdemont was given five days to confirm that independence for Catalonia was declared. A confirmation of the declaration would give the Catalan leader three days to rectify the situation or face suspension of home rule by Madrid.

In economic data:
Germany's September CPI +0.1% month-over-month, as expected (last 0.1%); +1.8% year-over-year, as expected (last 1.8%)
Italy's September CPI -0.3% month-over-month, as expected (last -0.3%); +1.1% year-over-year, as expected (last 1.1%)
Swiss September PPI +0.5% month-over-month (expected 0.3%; last 0.3%); +0.8% year-over-year (consensus 0.6%; last 0.6%)

---Equity Markets---

UK's FTSE is lower by 0.2% with financials and consumer names among the laggards. Experian, Standard Chartered, Barclays, Merlin Entertainments, Compass, Carnival, British American Tobacco, and Diageo have given up between 0.4% and 2.2%. On the upside, miners like Rio Tinto, Glencore, BHP Billiton, Anglo American, and Antofagasta show gains between 0.4% and 2.2%.
France's CAC trades flat. ArcelorMittal leads with a gain of 5.5% while consumer names like Carrefour, Louis Vuitton, and L'Oreal are up between 0.1% and 0.7%. Financials Societe Generale, BNP Paribas, and Credit Agricole show losses between 0.2% and 1.9%.
Germany's DAX is up 0.1%. Bayer leads with a gain of 1.1% while Beiersdorf, Linde, and Merck are up between 0.5% and 0.7%. Automakers are mixed with BMW down 0.8%, Daimler lower by 0.2%, and Volkswagen up 0.1%.

08:34AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +18.80.

The S&P 500 futures trade four points, or 0.2%, above fair value.

Just in, total CPI increased 0.5% (Briefing.com consensus 0.6%) in September while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus 0.2%). On a year-over-year basis, total CPI and core CPI are up 2.2% and 1.7%, respectively.

Separately, September retail sales increased 1.6% (Briefing.com consensus +1.5%). The prior month's reading was revised to -0.1% from -0.2%. Excluding autos, retail sales increased 1.0% while the Briefing.com consensus expected an increase of 0.8%. The prior month's reading was revised to +0.5% from +0.2%.

07:58AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +8.40.

Equities slipped from record highs on Thursday, but look poised to begin Friday's session in the green as the S&P 500 futures currently trade three points, or 0.1%, above fair value. For the week, the S&P 500 is sporting a slim gain of 0.1%.

Financials kicked off the third quarter earnings season on Thursday and will dominate the earnings calendar again today. Bank of America (BAC 25.65, +0.20) already reported its quarterly results, which showed better-than-expected earnings, and Wells Fargo (WFC 55.25, +0.04) is on deck, looking to continue the positive trend.

Like Bank of America, JPMorgan Chase (JPM 96.20, +0.21) and Citigroup (C 72.63, +0.26) beat earnings estimates on Thursday, but the heavyweights sold off nonetheless, losing 0.9% and 3.4%, respectively. The S&P 500's financial sector enters today's session with a week-to-date loss of 0.8%.

Investors will receive a big batch of economic data this morning, including the Consumer Price Index for September (Briefing.com consensus +0.6%) at 8:30 ET, Retail Sales for September (Briefing.com consensus +1.5%) also at 8:30 ET, the preliminary reading for the University of Michigan Consumer Sentiment Index for October (Briefing.com consensus 95.6) at 10:00 ET, and Business Inventories for August (Briefing.com consensus +0.7%) also at 10:00 ET.

The CPI and core CPI (Briefing.com consensus +0.2%)--which excludes food and energy--will be of particular interest as tepid inflation readings have forced the Fed to reconsider its goal of three rate hikes in 2017. The U.S. central bank has raised rates twice this year so far and the CME FedWatch Tool places the chances of a third rate hike at 88.0%.

In the bond market, U.S. Treasuries are trading modestly lower this morning, sending yields into the green; the benchmark 10-yr yield is hovering at 2.33% after settling Thursday at 2.32%. Meanwhile, the 2-yr yield is also up one basis point, sitting at 1.51%.

WTI crude futures are up 2.0% at $51.59 per barrel in early action, bouncing back from yesterday's 2.0% decline. The commodity enters today's session with a week-to-date gain of 4.7%. However, the S&P 500's energy sector, which typically moves in tandem with the price of crude oil, trades roughly in line with the broader market, holding a week-to-date gain of 0.2%.

In U.S. corporate news:

Bank of America (BAC 25.65, +0.20): +0.8% after reporting better-than-expected earnings.
Netflix (NFLX 197.70, +1.84): +0.9% after JPMorgan and Goldman raised the company's target price to $225 and $235, respectively.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a higher note. Japan's Nikkei +1.0%, Hong Kong's Hang Seng +0.1%, China's Shanghai Composite +0.1%, India's Sensex +0.8%.
In economic data:
China's September trade surplus $28.47 billion (expected $39.50 billion; last $41.99 billion). September Exports +8.1% year-over-year (consensus 8.8%; last 5.5%) and September Imports +18.7% year-over-year (consensus 13.5%; last 13.3%)
Japan's M2 Money Stock +4.1% year-over-year (consensus 4.0%; last 4.0%)
Singapore's Q3 GDP +6.3% quarter-over-quarter (expected 3.2%; last 2.4%); +4.6% year-over-year (consensus 3.8%; last 2.9%)
In news:
Samsung issued upbeat guidance for the third quarter and announced that its CEO Kwon Oh-hyun will resign, allowing a younger leader to take charge.
South Korea's Finance Ministry announced a three-year extension of its currency swap agreement with China.
The Reserve Bank of Australia's October Financial Review showed that the central bank will conduct a top-down stress test for domestic banks.
Coalition talks in New Zealand will extend into next week.

Major European indices trade near their flat lines. UK's FTSE -0.3%, France's CAC +0.1%, Germany's DAX +0.1%.
In economic data:
Germany's September CPI +0.1% month-over-month, as expected (last 0.1%); +1.8% year-over-year, as expected (last 1.8%)
Italy's September CPI -0.3% month-over-month, as expected (last -0.3%); +1.1% year-over-year, as expected (last 1.1%)
Swiss September PPI +0.5% month-over-month (expected 0.3%; last 0.3%); +0.8% year-over-year (consensus 0.6%; last 0.6%)
In news:
The European Central Bank is reportedly considering a 50.0% reduction to its monthly purchases (to EUR30 billion) that would be coupled with an extension of the purchasing program until at least September 2018. The euro backpedaled against the dollar in response to the report, returning beneath its 50-day moving average of 1.1845.
Outgoing German Finance Minister Wolfgang Schaeuble said he expects Germany to have a coalition government in place before Christmas.
Reports from Spain suggest Catalan President Carles Puigdemont is being pressured to confirm the Catalan declaration of independence. On Wednesday, Mr. Puigdemont was given five days to confirm that independence for Catalonia was declared. A confirmation of the declaration would give the Catalan leader three days to rectify the situation or face suspension of home rule by Madrid.

06:10AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +5.10.
06:10AM ET

[BRIEFING.COM] Nikkei

...21155.18...+200.50

...+1.00%

Hang Seng

...28476...+17.40

...+0.10%

06:10AM ET

[BRIEFING.COM] FTSE

...7540.00...-16.20

...-0.20%

DAX

...12992.99...+10.10

...+0.10%

04:30PM ET

[BRIEFING.COM] Stocks slipped from record highs on Thursday amid a heap of corporate news and the start of the third quarter earnings season. The S&P 500 and the Nasdaq lost 0.2% apiece while the Dow Jones Industrial Average (-0.1%) held up slightly better. Equities spent some time in positive territory, but eventually settled near their session lows.

Financial heavyweights JPMorgan Chase (JPM 95.99, -0.85) and Citigroup (C 72.37, -2.57) kicked off the third quarter earnings season on Thursday morning. Both lenders reported better-than-expected earnings and revenues, but moved lower nonetheless, tumbling 0.9% and 3.4%, respectfully. Other financials followed suit, sending the S&P 500's financial sector lower by 0.7%.

The financial group will be in focus once again on Friday morning, as that's when Bank of America (BAC 25.45, -0.38) and Wells Fargo (WFC 55.21, -0.45) are scheduled to report their quarterly results.

Like financials, consumer discretionary stocks within the S&P 500 struggled on Thursday, losing 0.7%. Cosmetic retailer Ulta Beauty (ULTA 190.16, -17.73) showed particular weakness, settling the day lower by 8.5%, after Cleveland Research downgraded ULTA shares to 'Neutral' from 'Buy' in pre-market action.

Women's apparel retailer J.Jill (JILL 4.86, -5.07) was hit even harder, plunging 51.1%, after lowering its forecast for third quarter same-store sales.

Unsurprisingly, the SPDR S&P Retail ETF (XRT 39.88, -0.53) tumbled 1.3%, finishing below its 50-day simple moving average (40.13) for the first time in over a month. Retailers will be in the spotlight once again on Friday morning, which is when investors will get their hands on the Retail Sales Report for September (Briefing.com consensus +1.5%).

AT&T (T 35.86,-2.33) led the lightly-weighted telecom services group (-3.5%) to the bottom of the sector standings on Thursday, dropping 6.1% in reaction to an announcement that its video subscribers declined for the third quarter in a row. Fellow wireless giant Verizon (VZ 48.35, -0.51) also dropped, losing 1.0%.

On a positive note, transports had a good showing, sending the Dow Jones Transportation Average higher by 0.6%. Railroad names like CSX (CSX 53.58, +0.50) showed particular strength after JPMorgan raised the company's target price to $62 from $58. CSX shares finished higher by 0.9%.

The top-weighted technology sector (unch) spent much of the day in positive territory, but slipped in the final stretch as mega-caps like Alphabet (GOOG 987.83, -1.42), Facebook (FB 172.55, -0.19), and Apple (AAPL 156.00, -0.55) retraced their earlier gains. Microsoft (MSFT 77.12, +0.70) held strong though, adding 0.9%.

In Washington, President Trump signed an executive order related to health care on Thursday that's aimed at providing more options for consumers and stepping up competition within the space. The health care sector (-0.2%) finished roughly in line with the broader market.

WTI crude futures declined 1.3% to $50.61 per barrel, despite the EIA reporting a larger-than-expected draw in U.S. crude stockpiles for the week ended October 6 (2.8 million barrels actual vs 2.4 million barrels consensus). The energy sector, which typically moves in tandem with oil prices, lost 0.4%.

In IPO news, CarGurus (CARG 27.58, +11.58)--which hosts an online marketplace for new and used vehicles--opened for trading today at a price of $29 per share after pricing its IPO at $16 per share. The company eventually settled at $27.58 per share, which is more than 70.0% above its IPO price.

U.S. Treasuries moved higher in a curve-flattening trade, sending yields into the red. The benchmark 10-yr yield dropped three basis points to 2.32%.

Reviewing Thursday's economic data, which included the Producer Price Index for September and the weekly Initial Claims Report:

Producer prices rose 0.4% in September, which is in line with the Briefing.com consensus. Meanwhile, core producer prices rose 0.4%, which is above the 0.2% increase that the Briefing.com consensus expected. Year-over-year, core producer prices are up 2.2%.
The key takeaway from the report is that it will feed the view that the Federal Reserve is on course to raise the fed funds rate again in December. The latter view stems from the understanding that the final demand index increased 2.6% for the 12 months ended in September, marking the largest rise since a 2.8% advance for the 12 months ended February 2012. Meanwhile, the final demand index less foods and energy increased 2.2% for the 12 months ended in September versus 2.0% for the 12 months ended in August.
The latest weekly initial jobless claims count totaled 243,000 while the Briefing.com consensus expected a reading of 255,000. Today's tally was below the revised prior week count of 258,000 (from 260,000). As for continuing claims, they declined to 1.889 million from the revised count of 1.921 million (from 1.938 million).
The key takeaway from the claims data is that it is consistent with a tight labor market, which some members of the Federal Reserve think poses an upside inflation risk.

On Friday, investors will receive the Consumer Price Index for September (Briefing.com consensus +0.6%) at 8:30 ET, Retail Sales for September (Briefing.com consensus +1.5%) also at 8:30 ET, the preliminary reading for the University of Michigan Consumer Sentiment Index for October (Briefing.com consensus 95.6) at 10:00 ET, and Business Inventories for August (Briefing.com consensus +0.7%) also at 10:00 ET.

Nasdaq Composite +22.5% YTD
Dow Jones Industrial Average +15.6% YTD
S&P 500 +13.9% YTD
Russell 2000 +10.9% YTD

Dow: -31.88… | Nasdaq: -12.04… | S&P: -4.31…

NASDAQ Adv/Dec 1151/1641. …NYSE Adv/Dec 1573/1328.

Image Price Action Trading @ http://www.thestrategylab.com/price-action-trading.htm

Image Trade Strategies via Volatility Analysis @ http://www.thestrategylab.com/VolatilityTrading.htm

Image Review of TheStrategyLab @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167

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Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. Also, thank you for the review of TheStrategyLab performance record...hopefully the links will be useful for you. gm

Best Regards,
M.A. Perry
Online user name wrbtrader (more info about me) @ http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading
Trader and Founder of WRB Analysis (wide range body/bar analysis)
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