Daily Delphi

Post: Thursday - And everything looks so pretty. | Daily Delphi

BlogsPit Talk › Thursday - And everything looks so pretty. January 17, 2014, 6:50 am

TODAY'S ACTION
7:30 AM CT
Initial Claims for 1/11 Prior 330K Forecast 334K
Continuing Claims for 1/04 Prior 2865K Forecast 2880K
CPI for Dec Prior 0.0% Forecast 0.2%
Core CPI for Dec Prior 0.2%Forecast 0.2%
9:00 AM CT
Philadelphia Fed for Jan Prior 6.4 Forecast 8.0
NAHB Housing Market Index for Jan Prior 58 Forecast 57
9:30 AM CT
Nat Gas Inventories for 1/11 Prior -157bcf Forecast -300bcf

Lots of data to digest today. Traders will look past the always volatile initial claims as we get a look at the CPI report this morning. Yesterday's higher than expected PPI number actually fits in nicely with Big Daddy's master plan, so a report higher than the forecast could bode well for trade. Later this morning we'll also get a look at the Philly Fed and NAHB numbers. It seems that most of the surprises in the data have been to the upside - we'll see if that holds true today. Also keep in mind some notable earnings reports; Intel, Goldman Sachs, BlackRock and American Express. Trade strong


WEDNESDAY RECAP

Equities extended yesterday's rally with the S&P closing at a new all time high as the NASDAQ rose to its highest levels in more than 13 years. The S&P closed at 1841.60 up +8.70. There was plenty of good news for everyone. Bank of America reported better than expected earnings and revenue for the fourth quarter, the PPI data came in at 0.4% - higher than expectations but Big Daddy likes that. The Empire Manufacturing number came in way over expectations at 12.5 and the Fed Beige Book showed modest growth with more of the same on the way. Focus those beer goggles everyone.


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