Daily Delphi

Post: Thursday - Looking for some follow through. | Daily Delphi

BlogsPit Talk › Thursday - Looking for some follow through. May 8, 2014, 6:50 am

7:30AM CT
Initial Claims for 5/03
Prior 344K Forecast 325K
Continuing Claims for 4/26
Prior 2771K Forecast 2750K
9:30AM CT
Natural Gas Inventories for 5/03
Prior 82bcf

Early in the day the Russians made peace overtures to the OSCE, rallying stocks. Those gains faded within the first hour or so. By afternoon Yellen was talking about the Fed's continued support for the economy and the markets managed to close on a mostly upbeat note. High-growth names weighed on the Russell 2000 (+0.1%) and the Nasdaq (-0.3%), while the Dow Jones Industrial Average (+0.7%) and S&P 500 (+0.6%) outperformed thanks to strength in blue chip listings.

Asian markets closed up for the session and European markets are higher across the board in mid-day trade. This afternoon Fed Chair Yellen will continue her tour of Capitol Hill with testimony in front of a Senate committee. Traders will also get a look at the always volatile initial claims number. On the corporate front, Priceline (PCLN) and Cablevision (CVC) will report earnings before the opening bell. Symantec (SYMC) and CBS (CBS) will report after the close. Trade strong.

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