Daily Delphi

Post: Friday - And the beat goes on. | Daily Delphi

BlogsPit Talk › Friday - And the beat goes on. February 14, 2014, 6:50 am

TODAY'S ACTION
7:30 AM CT
Export Prices ex-ag. for
Prior 0.3%
Import Prices ex-oil for
Prior -0.1%
8:15 AM CT
Industrial Production for Jan
Prior 0.3% Forecast 0.3%
Capacity Utilization for Jan
Prior 79.2% Forecast 79.4%
8:55 AM CT
Mich Sentiment for Feb
Prior 81.2 Forecast 80.2

Overnight, Asian indexes were mostly up with only the Nikkei underperforming. European stocks are extending the largest weekly advance of the year on data that showed the region's economy grew at a more robust rate than forecast. This morning we'll see data indicating that industrial production grew by 0.3% for January. At 8:55 AM we also expect to see the Mich sentiment number has dropped since the last reading to 80.2. Things are looking up for today's trade. The economic data out of Europe is likely to have a positive carryover to US markets. If the US data comes in along expectations bulls are going to try to extend this week's rally through close. Trade strong and enjoy the long weekend, US markets will be closed Monday in observation of Presidents Day.

THURSDAY RECAP

The equities started lower but kept a steady rally going throughout the day yesterday in spite of worse than expected retail sales and a couple of weak earnings reports. Retail sales came in at -0.4% vs consensus of 0.0%. Beer goggles anyone? The Dow added +63.65,, Nasdaq moved up +39.38 and the S&P closed up +7.20 to settle at 1824.30.. WTI stayed flat yesterday down just -0.2 at 100.35.


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