‘Harvey’ Shows Up in the Economic Data

Rising shares of Boeing (BA) pulled the Dow Jones Industrial Average up to a record high on Thursday, while the S&P 500 fell as investors saw higher-than-expected inflation increasing the chances of an interest rate hike.

The Dow’s third consecutive all-time high was driven in part by Boeing (BA) which rose 1.36 percent after Deutsche Bank raised its price target on the aerospace and defense stock.

The S&P 500 and Nasdaq moved lower after a Labor Department report showed consumer prices rose more than expected in August, boosting the odds of another interest rate hike this year.

The consumer price index’s (CPI) 0.4% gain last month was its biggest in seven months and is the last major economic data to be released ahead of the Federal Reserve’s Sept. 19-20 policy meeting. We don’t think the market was expecting that kind of a strength in terms of inflation.

After the data, the odds of a hike in December rose above 50% for the first time since July, from 41.3%.

Daily Summary: The Dow Jones rose 0.2%, while the S&P 500 lost 0.11%. The Nasdaq dropped 0.48%, hurt by a 0.86% decline in apple (AAPL).

About 6.0 billion shares changed hands on U.S. exchanges, above the 5.8 billion 20-day average.

Friday: The ill effects of Hurricane Harvey could show up in industrial production and in consumer data Friday. Industrial production, reported at 8:30 a.m. ET, is expected to take a hit due to the shutdown of refineries in Harvey’s path along the Gulf Coast. Economists expect to see a gain of 0.1 percent, compared to 0.2 percent in July, and the number could be weak in September with the added impact of Hurricane Irma.

More than 25% of U.S. refining capacity was affected by Harvey, and some production remains offline this week.

Consumer sentiment, reported at 10 a.m., also may see some storm impact. The consensus is 95, and it came in at 96.8 last month.

IndexLastDaily change
DJX22,2030.2%Up
SPX2,496(0.11%)Down
Nasdaq6,429(0.48%)Down

Hot Stocks: EFX, ORCL

IPOs: None

Have a great trading day!

 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Tuesday6:00NFIB Small Business Optimism Index104.8Medium
Tuesday10:00JOLTS6.010 MMedium
Wednesday8:30PPI0.3 %High
Wednesday10:30Oil InventoriesLow
Thursday8:30Consumer Price Index0.4 %High
Thursday8:30Jobless Claims300 KMedium
Friday8:30Retail Sales0.1 %Medium
Friday8:30Empire State Mfg Survey19.0 Medium
Friday9:15Industrial Production0.1 %Medium
Friday10:00Business Inventories0.2 %Medium
Friday10:00Consumer Sentiment96.0 High

 

Earning Calendar

 

SymbolCompanyAM/PMDay
UNFIUnited Natural Foods, Inc.PMWednesday
ORCLOracle CorporationPMThursday
 

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
BA246.50BITACAR
KURA13.80TEAMTIF
 HALO 
 ALDX 
 KURA 
 TDOC 
   
   
   

  

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

12.8.2017AKAMShortClose3.8.2017-1.12%
23.8.2017NKELongClose8.8.2017+0.02%
34.8.2017SBUXShortClose16.8.2017+2.40%
48.8.2017NTAPLongClose9.8.2017-1.17%
522.8.2017ATHMLongClose23.8.2017+0.16%
623.8.2017AAPShortClose26.8.2017+0.98%
728.8.2017CREEShortClose30.8.2017-0.86%
830.8.2017TRIPLongClose11.9.2017+3.88%
91.9.2017VNTVLongClose14.9.2017+1.35%
1012.9.2017CPBShortOpen -0.13%
11 
12
13 
14
15
16 
17
18      

 

Today’s Picks – Swing “New-York Strategy”


No.1 –  SAVE

Company NameSpirit Airlines
Entry Point34.57
Stop Area35.55
1st Target34.05
Swing Target30.32
Avg. Volume1.75M
SectorServices | Major Airlines
Earning Date
Risk RateNormal
Risk\Reward Ratio4.34:1

Risk Rates: Normal – Regular size, High –Consider reducing size, Low – Consider increasing size