Daily Delphi

Post: Thursday - A Brand New Day 9/17/2014 | Daily Delphi

BlogsPit Talk › Thursday - A Brand New Day 9/17/2014 October 17, 2013, 6:50 am

The markets breathed a collective sigh of relief as the kids in congress agreed to vote on legislation to open the government and raise the debt ceiling. Don't forget the other silver lining that appeared throughout the drawn out dispute - the Fed tapering isn't expected to start until 2014. Escaping the default drama unscathed with the Fed spigot going strong market participants decided everything looked cheap. Gold settled up +9.1 at 1282.3, WTI was up +1.08 at 102.102.29 and the S&P rallied up +21.20 to settle at 1713.20.

7:30 AM CT
Initial Claims Forecast 325K Prior 374K
Housing Starts Forecast 910K Prior 891K
Building Permits Forecast 930K Prior 913K
8:15AM CT
Industrial Production Forecast 0.3% Prior 0.4%
Capacity Utilization Forecast 77.9% Prior 77.8%
9:00 AM CT
Philly Fed Forecast 7.0 Prior 22.3
10:00 AM CT
Crude Inventories Forecast 2.25M Prior 6.807M
Lots of data to look at in the light of a brand new day. Yesterday's Biege Book showed that about a third of the country is experiencing slower growth in September and early October. That information may be reflected in today's reports. After last months sunny Philly Fed report we could start seeing some additional slowdown in growth. Today's markets won't have the drama of weeks past to worry about so today's trade should be about the numbers. With the relief rally out of the way traders may be looking to book profits going into Friday's trade. Trade Strong

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