Daily Delphi

Post: Wednesday - Retailers tell the tale today. | Daily Delphi

BlogsPit Talk › Wednesday - Retailers tell the tale today. February 26, 2014, 6:50 am

REPORTS
6:00 AM CT
MBA Mortgage Index for 02/22
Prior -4.1%
9:00 AM CT
New Home Sales for Jan
Prior 414K Forecast 400K
9:30 AM CT
Crude Inventories for 02/22
Prior 0.973M

TUESDAY RECAP

Equities spun their wheels yesterday as the economic data came in slightly under expectations. The S&P closed up +.40, the Dow down -27.48 and the Nasdaq lost -5.38. Early in the day it looked like the bulls might press the issue but in the end there just wasn't enough commitment to get anything going.

TODAY'S ACTION

Overnight the Asian markets were mixed and the European markets are trading broadly down as of this writing. This morning investors will get a look at the January new home sales report which is expected to show a slight month over month month decline of 14K. The real news will be the quarterly earnings of quite a few large retailers. This morning before the bell Barnes and Noble, Target, Abercrombie & Fitch and TJX are set to release earnings. After the open Baidu and JC Penny will follow suit. Trade strong.


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