Daily Delphi

Post: Thursday - Trading the uncertainty. | Daily Delphi

BlogsPit Talk › Thursday - Trading the uncertainty. March 13, 2014, 6:50 am

7:30 AM CT
Initial Claims for 3/08
Prior 323K Forecast 335K
Continuing Claims for 3/01
Prior 2907K Forecast 2950K
Retail Sales for Feb
Prior -0.4% Forecast 0.2%
Retail Sales ex-auto for Feb
Prior 0.0% Forecast 0.2%
Export Prices ex-ag for Feb
Prior 0.2%
Import Prices ex-oil for Feb
Prior 0.3%

9:00 AM CT
Business Inventories for Jan
Prior 0.5% Forecast 0.3%

9:30 AM CT
Nat Gas Inventories for 3/08
Prior -152 bcf

1:00 PM CT
Treasury Budget for Feb
Prior -203.5B Forecast -195B


The markets managed to close on a mixed note despite opening under pressure from China's turmoil. European and Asian markets were broadly down the day before on concerns over China's fiscal health. Nothing really changed yesterday, it's just that no one panicked. Copper managed to regain the losses it suffered in overnight trade and closed up one cent on the day. The situation in Ukraine didn't seem to rattle any nerves as traders took in stride an otherwise slow news day.


Overnight the Asian markets continued to trudge through the morass that is China's financial weakness but European indices are mostly up. This morning traders will get a look at the always volatile initial claims numbers which are expected to show an increase of 335K. The markets will also get look at retail sales for February. Last month the sales report took a -0.4% dive but today's expectations are for a 0.2% gain. Also before the open the business inventories number will be out. The markets are edgy and any negative data could cause a knee-jerk reaction to the downside. We'll also be watching for any news out of Ukraine about this weekend's upcoming referendum - that situation still has potential to get very big. Trade well.

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