Stocks Waver Amid Valuation Worry And Bank Earnings

Read More Details of June retail report suggest economy on solid footing “So far the news has been pretty good,” said Peter Cardillo, chief market economist at Rockwell Global Capital, citing earnings from the banking sector, along with data on June retail sales. “The overall economic picture continues to brighten, with consumer spending up, albeit at a modest pace,” said Cardillo. Other data Tuesday had factory activity in the New York region expanding sharply in July; U.S. import prices rising less than expected in June ; and another report showed U.S. business inventories rising in May.

Stocks rise on earnings, data, M&A – Yahoo Finance

Excluding food and energy prices, core producer prices edged up by 0.2 percent in June after dipping by 0.1 percent in the previous month. The modest rebound matched economist estimates. Trading could also be impacted by the release of separate reports on industrial production and homebuilder sentiment. Additionally, traders are also likely to keep an eye on Federal Reserve Chair Janet Yellen’s second day of testimony on Capitol Hill. With traders focused on Yellen’s testimony before the Senate Banking Committee, stocks visit this site fluctuated over the course of the trading day on Tuesday.

Stocks Close Mostly Higher On Various Positive Catalysts – U.S. Commentary

economic front, the Labor Department released a report showing that producer prices increased by more than expected in the month of June amid a rebound in energy prices. A separate report from the Federal Reserve said industrial production rose less than expected in June, while the National Association of Home Builders released a report showing that homebuilder confidence improved by more than anticipated in July. Later in the day, the Fed released its Beige Book, which contains anecdotal evidence on economic conditions from each of the twelve Fed districts. The Fed said all twelve districts indicated that economic activity continued to expand, with the pace of growth characterized as moderate or modest. Traders seemed to shrug off Fed Chair Janet Yellen’s second day of testimony on Capitol Hill, as her remarks largely mirrored those she delivered yesterday.

Stocks May Open Higher Amid Various Positive Catalysts – U.S. Commentary –

Industrial production and capacity utilization will be released at 9:15 a.m. ET. NAHB’s housing-market index and Federal Reserve Chair Janet Yellen’s second appearance on Capitol Hill this week follow at 10 a.m. ET. Crude-oil inventories come out at 10:30 a.m.


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