We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Market indices closed at or near session lows to kick off a new trading week, with the exception on the small-cap Russell 2000, which, while off its intra-day highs, remained in positive territory throughout: +0.55% on the day. The Dow tried to hold onto very modest gains but was -0.06% when the bell sounded. The S&P 500 dipped -0.43% for the session, while the Nasdaq pulled up the rear, -155 points, -1.15%.
There were zero major economic reports out this morning, or at any time today. The only notable earnings report this morning came from Carnival Cruise Lines (CCL - Free Report) , which posted a narrower-than-expected negative earnings result on revenues that came in ahead of projections, and up from the year-ago quarter. Tomorrow morning is Walgreens Boots Alliance (WBA - Free Report) reporting fiscal Q3 numbers, with earnings and sales growth year over year expected to to +12.5% and +5%, respectively. For more on CCL’s earnings, click here.
Tomorrow morning, Durable Goods Orders for May will hit the tape ahead of the opening bell. Expectations are for a further drift downward after two straight months in positive territory, to -0.9% expected from +1.1% reported a month ago. This 1.1 figure is right between its 12-month high (+4.5% in December) and low (-3.1% in November). Should the numbers pan out as expected, it will continue to illustrate the slow melt of inflation metrics.
We’ll also get a look at the 10-city and 20-city surveys from the Case-Shiller home price index, although for the month of April. Here we’ve seen cooling, as well, although more recent housing data suggests this market may be getting a second wind. But will this show up in April data? Not entirely likely. New Home Sales for May will also hit the tape tomorrow morning, and expectations here are to tick down to 675K from 683K reported the previous moth.
Image: Bigstock
Markets Flat-to-Down to Start a New Trading Week
Market indices closed at or near session lows to kick off a new trading week, with the exception on the small-cap Russell 2000, which, while off its intra-day highs, remained in positive territory throughout: +0.55% on the day. The Dow tried to hold onto very modest gains but was -0.06% when the bell sounded. The S&P 500 dipped -0.43% for the session, while the Nasdaq pulled up the rear, -155 points, -1.15%.
There were zero major economic reports out this morning, or at any time today. The only notable earnings report this morning came from Carnival Cruise Lines (CCL - Free Report) , which posted a narrower-than-expected negative earnings result on revenues that came in ahead of projections, and up from the year-ago quarter. Tomorrow morning is Walgreens Boots Alliance (WBA - Free Report) reporting fiscal Q3 numbers, with earnings and sales growth year over year expected to to +12.5% and +5%, respectively. For more on CCL’s earnings, click here.
Tomorrow morning, Durable Goods Orders for May will hit the tape ahead of the opening bell. Expectations are for a further drift downward after two straight months in positive territory, to -0.9% expected from +1.1% reported a month ago. This 1.1 figure is right between its 12-month high (+4.5% in December) and low (-3.1% in November). Should the numbers pan out as expected, it will continue to illustrate the slow melt of inflation metrics.
We’ll also get a look at the 10-city and 20-city surveys from the Case-Shiller home price index, although for the month of April. Here we’ve seen cooling, as well, although more recent housing data suggests this market may be getting a second wind. But will this show up in April data? Not entirely likely. New Home Sales for May will also hit the tape tomorrow morning, and expectations here are to tick down to 675K from 683K reported the previous moth.
Questions or comments about this article and/or author? Click here>>