Day Traders Diary
Stocks snapped an eight-week winning streak on Friday and are on track to open today's session in negative territory; the S&P 500, Dow, and Nasdaq futures are all hovering 0.3% below fair value. Still, the U.S. equity market is trading just a tick below its all-time high despite the recent struggles.
Elsewhere, the Euro Stoxx 50 is down 0.8%, while equity indices in the Asia-Pacific region began the week on a mixed note.
At this point in the third quarter earnings season, more than 90% of S&P 500 companies have reported their quarterly results. However, there are still a handful of notable names due to report this week, including Home Depot (HD) and TJX (TJX) on Tuesday, Target (TGT) and Cisco Systems (CSCO) on Wednesday, and Wal-Mart (WMT) on Thursday to name a few.
As for economic data, investors will receive several influential reports this week, including the October Producer Price Index (Briefing.com consensus +0.1%) on Tuesday, the October Consumer Price Index (Briefing.com consensus +0.1%) and October Retail Sales (Briefing.com consensus +0.1%) on Wednesday, and October Housing Starts (Briefing.com consensus 1198K) on Friday.
Today's lone economic report--the October Treasury Budget--will be released this afternoon at 14:00 ET.
Outside the equity market, U.S. Treasuries are rallying this morning, sending yields lower across the curve; the yield on the benchmark 10-yr Treasury note is down three basis points at 2.37%. Meanwhile, WTI crude futures are up 0.2% at $56.83/bbl, the U.S. Dollar Index is higher by 0.1% at 94.41, and the CBOE Volatility Index (VIX 11.84, +0.55) is up 4.9%.
In U.S. corporate news:
Reviewing overnight developments:
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