9:00 AM CT
New Home Sales for Mar
Prior 440K Forecast 450K
9:30 AM CT
Crude Inventories for 4/19
The S&P put together its sixth consecutive winner yesterday closing up +9.50 at 1873.90. The run has been impressive, leaving the S&P the only major average up for the year - +1.7%.
The Dow Jones Industrial Average and Nasdaq are down roughly -0.4% for the year and the Russel 2000 is down -0.6%. Although the day started flat, the major averages took their lead from the health care and discretionary sectors and started a day long drive up. The final hour pushed the indices down from their highs but still strong in the green.
Asian markets closed mixed after a Chinese PMI report showed continued weakness in the manufacturing sector. European markets are trading slightly lower in midsession trade. In the US today traders will be looking at a plethora of earning reports. This morning Dow Chemical (DOW) and Procter and Gamble (PG) both reported a gain in earnings. Boeing is also set to release its earnings before the open. After the close Facebook (FB), Apple (APPL), Zynga (ZNGA) and Cheesecake Factory (CAKE) will all be reporting their earnings. Also of note the US Census Bureau will be releasing the new homes sales figures for March at 9:00 AM CT. Trade strong.