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Stock Ride Rollercoaster on Ukraine Unrest, Mixed Economic data
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

The S&P 500 rocked back and forth on Friday thanks to a volatile mix of economic data and geopolitical headlines.

Ukraine's military claimed it destroyed part of a convoy of Russian armored vehicles that entered Ukrainian territory overnight.

Predictably, Russia denied the incident, and the UN said it could not verify the reports. NATO, meanwhile, said Russian forces did make it into Ukraine, but called the move an incursion rather than an invasion.

Nonetheless, US markets were shaken off their morning highs, and the S&P traded as low as 1,941.50.

Safe-haven assets like US Treasuries and German Bunds also rallied, as did the VIX.

However, the negativity didn't last as the major indices grinded higher throughout the day, and the S&P finished flat on the day, down just a tenth of a point.

Sector-wise, the action was most certainly mixed, with weakness in financials and surprising strength in the biotech sector, which has enjoyed a steady rally over the past week.

On the economics front, the August Empire Manufacturing Survey came in at 14.7 vs. the 20.00 expected.

July Core PPI core was 1.7%,while the core reading, which excludes food and energy prices, was 1.6%. Both numbers were directly in line with consensus expectations.

The preliminary August University of Michigan Sentiment Index was 79.2, missing the 82.5 expected by economists.

Monster Beverage (MNST) was up 30.5% today to $93.49 after announcing a strategic partnership with Coca-Cola (KO). As part of the deal, Coca-Cola is taking a 17% stake in Monster.

Retailer Dillard's (DDS) took a 8.2% hit, finishing at $106.11. The retailer reported second-quarter results that missed analysts' expectations.

The weakness at Dillard's helped drive retail stocks down today, with the Merrill Lynch Retail HOLDRS ETF (RTH) dropping 0.6%.

And on the IPO front, burger lovers cheered Reuters' report that the Shake Shack chain is gearing up to go public.

Tomorrow's Financial Outlook

The economic calendar is pretty light for Monday. The August NAHB Housing Market Index will be reported at 10:00 a.m. ET. Housing stocks have been trending lower since February, but have bounced in the past week, so there could be volatility in that sector.

Globally, China's July Property Prices and the Eurozone Trade Balance will be reported.

Urban Outfitters (URBN) is the only company of note reporting earnings Monday.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Stock Ride Rollercoaster on Ukraine Unrest, Mixed Economic data
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

The S&P 500 rocked back and forth on Friday thanks to a volatile mix of economic data and geopolitical headlines.

Ukraine's military claimed it destroyed part of a convoy of Russian armored vehicles that entered Ukrainian territory overnight.

Predictably, Russia denied the incident, and the UN said it could not verify the reports. NATO, meanwhile, said Russian forces did make it into Ukraine, but called the move an incursion rather than an invasion.

Nonetheless, US markets were shaken off their morning highs, and the S&P traded as low as 1,941.50.

Safe-haven assets like US Treasuries and German Bunds also rallied, as did the VIX.

However, the negativity didn't last as the major indices grinded higher throughout the day, and the S&P finished flat on the day, down just a tenth of a point.

Sector-wise, the action was most certainly mixed, with weakness in financials and surprising strength in the biotech sector, which has enjoyed a steady rally over the past week.

On the economics front, the August Empire Manufacturing Survey came in at 14.7 vs. the 20.00 expected.

July Core PPI core was 1.7%,while the core reading, which excludes food and energy prices, was 1.6%. Both numbers were directly in line with consensus expectations.

The preliminary August University of Michigan Sentiment Index was 79.2, missing the 82.5 expected by economists.

Monster Beverage (MNST) was up 30.5% today to $93.49 after announcing a strategic partnership with Coca-Cola (KO). As part of the deal, Coca-Cola is taking a 17% stake in Monster.

Retailer Dillard's (DDS) took a 8.2% hit, finishing at $106.11. The retailer reported second-quarter results that missed analysts' expectations.

The weakness at Dillard's helped drive retail stocks down today, with the Merrill Lynch Retail HOLDRS ETF (RTH) dropping 0.6%.

And on the IPO front, burger lovers cheered Reuters' report that the Shake Shack chain is gearing up to go public.

Tomorrow's Financial Outlook

The economic calendar is pretty light for Monday. The August NAHB Housing Market Index will be reported at 10:00 a.m. ET. Housing stocks have been trending lower since February, but have bounced in the past week, so there could be volatility in that sector.

Globally, China's July Property Prices and the Eurozone Trade Balance will be reported.

Urban Outfitters (URBN) is the only company of note reporting earnings Monday.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Minyanville Staff
Daily Recap
Stock Ride Rollercoaster on Ukraine Unrest, Mixed Economic data
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

The S&P 500 rocked back and forth on Friday thanks to a volatile mix of economic data and geopolitical headlines.

Ukraine's military claimed it destroyed part of a convoy of Russian armored vehicles that entered Ukrainian territory overnight.

Predictably, Russia denied the incident, and the UN said it could not verify the reports. NATO, meanwhile, said Russian forces did make it into Ukraine, but called the move an incursion rather than an invasion.

Nonetheless, US markets were shaken off their morning highs, and the S&P traded as low as 1,941.50.

Safe-haven assets like US Treasuries and German Bunds also rallied, as did the VIX.

However, the negativity didn't last as the major indices grinded higher throughout the day, and the S&P finished flat on the day, down just a tenth of a point.

Sector-wise, the action was most certainly mixed, with weakness in financials and surprising strength in the biotech sector, which has enjoyed a steady rally over the past week.

On the economics front, the August Empire Manufacturing Survey came in at 14.7 vs. the 20.00 expected.

July Core PPI core was 1.7%,while the core reading, which excludes food and energy prices, was 1.6%. Both numbers were directly in line with consensus expectations.

The preliminary August University of Michigan Sentiment Index was 79.2, missing the 82.5 expected by economists.

Monster Beverage (MNST) was up 30.5% today to $93.49 after announcing a strategic partnership with Coca-Cola (KO). As part of the deal, Coca-Cola is taking a 17% stake in Monster.

Retailer Dillard's (DDS) took a 8.2% hit, finishing at $106.11. The retailer reported second-quarter results that missed analysts' expectations.

The weakness at Dillard's helped drive retail stocks down today, with the Merrill Lynch Retail HOLDRS ETF (RTH) dropping 0.6%.

And on the IPO front, burger lovers cheered Reuters' report that the Shake Shack chain is gearing up to go public.

Tomorrow's Financial Outlook

The economic calendar is pretty light for Monday. The August NAHB Housing Market Index will be reported at 10:00 a.m. ET. Housing stocks have been trending lower since February, but have bounced in the past week, so there could be volatility in that sector.

Globally, China's July Property Prices and the Eurozone Trade Balance will be reported.

Urban Outfitters (URBN) is the only company of note reporting earnings Monday.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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