Daily Delphi

Post: Thursday | Daily Delphi

BlogsPit Talk › Thursday January 30, 2014, 6:50 am

TODAY'S ACTION
7:30 AM CT
Initial Claims for 1/25
Prior 326K Forecast 330K
Continuing Claims for 1/18
Prior 3056 K Forecast 3000K
GDP - Adv for Q4
Prior 4.1% Forecast 3.0%
Chain Deflator - Adv for Q4
Prior 2.0% Forecast 1.2%
9:00 AM CT
Pending Home Sales for Dec
Prior 0.2% Forecast -0.2%

Overnight the Asian markets took a pummeling and the European markets are also trading lower. In after hours trade the US equities have made a rebound. Today before the open traders will have a lot of important news to digest. The always volatile initial claims is out at 7:30 AM but the real numbers to watch will be GDP and the 9:00 AM pending home sales numbers. The markets are in need of some good news and without any good news traders may consider everything else bad news. Today we'll also see earnings from Exxon, Visa, Amazon and Google. Trade strong.

WEDNESDAY RECAP

Big Daddy stuck with the plan yesterday, announcing another $10B cut to its monthly bond buying program. That leaves the QE at $65B per month. Shortly after the close yesterday the Central Bank of Turkey shocked the market with a 445 basis point hike to 12%. The Lira strengthened after the announcement but gave up all of its gains in the overnight session. The equities were hammered across the board yesterday. It turns out that everyone seems to be sobering up after last year's party. The S&P ended down -17.10 at 1771.20, the DJIA was off -189.77 to close at 15738.79 and the Nasdaq took a beating, down -46.53.


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