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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

TODAY'S ACTION
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.

MONDAY RECAP

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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