Daily Delphi

Post: Tuesday - and we're 0 for 3 | Daily Delphi

BlogsPit Talk › Tuesday - and we're 0 for 3 January 7, 2014, 6:50 am

TODAY'S ACTION
7:30 AM CT
Trade Balance
Prior -40.6B Forecast -40.9B

Today the equities are looking to break a losing streak. It's been three days without a winner for the S&P's and that just doesn't seem right for a market that ended up 29.6% last year. The trade today could continue to be choppy and nondirectional. Traders are waiting to take a look at the FOMC minutes on Wednesday. Everyone wants to know just how committed Big Daddy is to ending the party. After Wednesday's release we'll be watching to see how the jobs data plays into the conversation the Fed Governors had at their last meeting a few weeks ago. Trade strong.

MONDAY RECAP

The S&P's remained unable to post the first gain of 2014. The benchmark index ended down -4.80 at 1820.70. That's the third decline in as many days and the longest stretch of losers to start a year since 2005. The Dow ended down -44.89 at 16425.10. The morning release of the ISM Non-manufacturing Index fell to 53.0 from 53.9 while expectations were 53.8. Volumes were back to normal but it appears that traders are waiting on the Wednesday release of the FOMC minutes and Friday's payroll numbers.


Share on StockTwits
comments powered by Disqus