Daily Delphi

Post: Thursday - The markets took a breather yesterday. | Daily Delphi

BlogsPit Talk › Thursday - The markets took a breather yesterday. February 13, 2014, 6:50 am

7:30 AM CT
Initial Claims for 02/08
Prior 331K Forecast 335K
Continuing Claims for 02/01
Prior 2964K Forecast 2975K
Retail Sales for Jan
Prior 0.2% Forecast -0.1%
Retail Sales ex-auto for Jan
Prior 0.7% Forecast 0.2%
9:00 AM CT
Business Inventories for Dec
Prior 0.4% Forecast 0.6%
9:30 AM CT
Natural Gas Inventories for 02/08
Prior -262 bcf

Overnight the Asian and European markets took their lead from yesterday's lackluster trade in the US. It seems that the global rally of the past few days may be taking a breather. This morning before the open we'll get a look at retail sales and a bit later, business inventories. A strong showing of today's numbers could reignite the march upward but look for investors to show some skepticism now that things have slowed down. Trade strong.

The four day rally on Wall Street took a pause yesterday. It's not that things were bad, there just wasn't anything good. The major indexes traded near flat most of the day on lower than normal volume. The S&P settled up just +3.50 at 1817.10.. The Nasdaq added a not so bad +0.24% closing at 4,201.29 and the Dow shed a mere -30.83 closing at 15,963.94. On a more active note WTI closed up +.43 at 100.37. That's not a big move but volume yesterday was up about 20%. The reason you ask. The International Energy Agency announced that oil inventories dropped the most in last year's fourth quarter than anytime since 1999 due to "surprising robustness" of demand in the US and other developed countries.

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