Hello MarketClub members everywhere. As we start the week, it looks as if the market is still trying to digest what the Federal Reserve said in its meeting minutes last week. All eyes will be on the housing, PMI and wage numbers due this week as well as commentary for the regional Fed Chiefs. The Regional Fed chiefs for St. Louis, San Francisco, and Philadelphia are due to speak Monday, while Chair Janet Yellen is due to deliver remarks on Friday.
The big mover of the day is Apple Inc. (NASDAQ:AAPL). It's jumped over 1.5% on rumors of large iPhone 7 orders and after Taiwan's Economic Daily News reported that the iPhone maker has asked suppliers to prepare production for a new version of its smartphones.
Key levels to watch this week:
S&P 500 (CME:SP500): 2,084.87
Dow (INDEX:DJI): 17,934.61
NASDAQ (NASDAQ:COMP): 4821.57
Gold (FOREX:XAUUSDO): 1,259.36
Crude Oil (NYMEX:CL.N16.E): 47.26
U.S. Dollar (NYBOT:DX.M16.E): 91.88
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2 thoughts on “Stocks Struggle To Find Direction”
All very interesting. Yellen's Macroprudential tinkerings had GDP going from ~ 0.5% in Q1 to ~ 2.5% in Q2. Can anyone explain how that rate of increase is possible in an economy as large as ours? In my business orders fell off a cliff in January and we are looking at layoffs if customers don't come back soon.
l want to buy spare parts for caterpillar and all construction machines as stocks.
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