Following the Valentine’s and President’s Day extended weekend, markets are slow to wake up this morning, February 17, 2015. Unbelievable but we’re nearing the end of February. Shortly, we’ll be beginning the last month of the 1st trading quarter of 2015. Soon, we’ll begin the 2nd quarter of 2015. Get ready traders.
As sweet as Milton S. Hershey’s famous Chocolate town of Hershey, Pennsylvania the markets are beginning to appear. The DOW is resting at 18019.35 after closing up +46 points after Friday’s session. The DOW has an all-time high of 18103.45 striking that level the day following Christmas 2014. We’re nearing those levels once again.
Traders will keep an eye on the Economic Calendar for this week as the housing market index comes out today followed by the housing starts, redbook, and industrial production tomorrow. Thursday is a pretty busy day when the market absorbs jobless claims, manufacturing index, consumer comfort index, leading indicators, nat. gas report, petroleum status report, philly fed index, the fed. balance sheet followed by money supply. Friday, we see Fed's business inflation expectations.
Oil is up today 1.57 to 52.78/barrel with a 1-year forecast of 60/barrel.
Gold rests at 1225.60 down 4.10/oz while Silver checks in @ 16.95 down .43/oz. Platinum weighs in at 1198.10/oz down 10.40 paired with Palladium which is also down 11.80/oz checking in at 787.70.
Last night, the Nikkei closed at 17987.09 down -17 points. The Hang Seng gained +58 points settling in at 24784.88. European markets are currently a bit mixed with the FTSE 100 up +31 points leveling at 6,888. The CAC 40 index is down -24 points at 4727.14. The DAX is down -43 points at 10,880.20.
As for the American markets, as of 5:57 A.M., EST the DOW is signaling down -6 points, the S&P -2.10 and the NASDAQ showing an open up of +5.25 points.
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