Daily Delphi

Post: Thursday - Global growth concerns to rule the day. | Daily Delphi

BlogsPit Talk › Thursday - Global growth concerns to rule the day. February 20, 2014, 6:50 am

TODAY'S ACTION
7:30 AM CT
Initial Claims for 02/15
Prior 339K Forecast 335K
Continuing Claims for 02/08
Prior 2953K Forecast 2975K
CPI for Jan
Prior 0.2% Forecast 0.2%
Core CPI for Jan
Prior 0.1% Forecast 0.2%
9:00 AM CT
Philadelphia Fed for Feb
Prior 9.4 Forecast 7.8
Leading Indicators for Jan
Prior 0.1% Forecast 0.4%
10:00 AM CT
Crude Inventories for 02/15
Prior 3.267M Forecast +1.0M

Overnight the Asian markets closed in the red with the Nikkei taking the biggest hit, dropping -2.2%. European stocks are also trading in the red this morning. Global growth concerns is the phrase of the day today. A preliminary reading on Chinese manufacturing showed a dip in February to a seven month low and out of Europe a survey of purchasing managers also came in under expectations.. We've got lots to look at today in the US. This morning the government will report the monthly consumer price index as well as initial claims. At 9:00 AM CT we'll also get a look at the Philly Fed. Trade strong.

WEDNESDAY RECAP

The US indexes were down across the board yesterday. The S&P started the day in the green but retreated to close down -11.90 at 1825.50. The DJIA and Nasdaq also suffered giving up -89.84 and -34.83 respectively. What caused the breakdown - maybe a little bit of everything. Big Mama isn't likely to slow down stimulus reductions, IMF warns of risks to global growth, weaker than expected housing starts, Ukraine on the brink, Venezuela headed the same direction, market near all time highs - rock and roll the cola wars.


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