Daily Delphi

Post: Friday 10/25/13 - The Beat Goes On | Daily Delphi

BlogsPit Talk › Friday 10/25/13 - The Beat Goes On October 25, 2013, 6:50 am

THURSDAY RECAP
The Dec S&P rallied yesterday to settle at 1748.50 up +6.70. Equites started the day strong based on overnight Chinese Manufacturing data. The early morning US data turned the tide briefly negative but the party picked up again as third quarter earnings reports came rolling in. Gold rallied as the Greenback fell to it's lowest levels since February of this year. Meanwhile, Dec Crude Oil struggled through the morning hours despite the Chinese data and because of weaker than expected US manufacturing data. Reports of a fire at a large Citgo refinery in Lemont, IL gave the complex the boost it needed to end in positive territory. Dec Crude Oil ended up +.25 to settle at 97.11.

TODAY'S ACTION
7:30AM CT
Durable Orders Forecast 3.7% Prior 0.1%
8:55AM CT
Michigan Sentiment Forecast 73.5 Prior 75.2
9:00AM CT
Wholesale Inventories Forecast 0.2% Prior 0.1%

The markets will be looking at the first two numbers today. Durable Orders are expected to make a strong rebound after last months disappointing number. The final Michigan Sentiment report of 5,000 households will give an indication of how consumers feel coming off the shutdown showdown going into the holidays. With earning season still going strong the equity markets will continue to watch those reports. So far this season almost three-quarters of the reports have beaten expectations.Trade strong.


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