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Post: Tuesday - Is it really here? | Daily Delphi

BlogsPit Talk › Tuesday - Is it really here? January 28, 2014, 6:50 am

7:30 AM CT
Durable Orders for Dec
Prior 3.4% Forecast 2.5%
Durable Orders ex - transportation for Dec
Prior 1.2% Forecast 0.7%
8:00 AM CT
Case Schiller Index for Nov
Prior 13.6% Forecast 13.8%
9:00 AM CT
Consumer Confidence for Jan
Prior 78.1 Forecast 77.5

Overnight European equites rebounded from yesterday's one month low to close up and Asian stocks are trading flat to down a little. Today before the open we'll see the earnings from Ford and Pfizer. After the close we'll get a look at AT&T, Yahoo and VMWare. This evening we'll hear the presidents spin during the State of the Union address. Markets are going into today a little bit skittish with the prospect that a correction may have arrived. We'll have durable orders and consumer confidence to look at before the opening bell also. Trade strong.


To quote the Stock Traders Almanac, "As goes the S&P in January, so goes the year." Yesterday was a choppy down day. New home sales took a hit coming in at 414K vs expectations of 450K. Traders seem to be worried that the oft talked about market correction may finally be here. The S&P settled down -6.40 at 1775.70, the Dow closed off -41.23 at 15837.88 and the Nasdaq fell -44.56 to 4083.61.

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