A weakier than expected retail sales figure hit th
A disappointing release from retail sesasons d market sending US stock futures lower to start the session. Sellers once again hit the market across the board. On the bright side the market was cheering earnings news out of JPM prior to the opening bell. The Dow would be the first index to rebound off the lows closing the day in the Green. NASDAQ simply could not get out of its own way ending the day lower. Given the lift off the lows the NASDAQ misses a day of distribution. For the S&P 500 and Dow Jones Industrial volume rose on the session as these indexes come way with a smal day of accumuation. The last bit of closing buyers rushe d in puching the market well of its low of the session.
INTC and CSX reported earnigns after teh bell. At the moment the market likes what it has heard so far from both stocks. Now, INTC had already issued a revision for this quarter. CSX continues buying back more company stock as well raising its dividend. A ZIRP program will certainly force ctapial into places where it truly does not want to be. ZIRP forces capital into places ti normally wouldn’t go if the Fed Funds rate was so low. Before we digress further, we can only trade the market given to us. We cannot force trades in this market type of market.
TLT looks like it is about to push higher here. Are rates about to head towards lows its lows. As each day s pass it certainly feels that way. TMF is another way to play higher bond prices. Lower rates certainly gives dividend paying stocks like utlities a bit more attention. Low rates and everyone goes in search of yield. XLU typically finds buying pressure when rates set new lows in the market. Keep an eye on utilitie and energy for that matter.
Not a terrible day, but we do need to see the NASDAQ to confirm this most recent move. Cut those losses short.
