DJ / Nasdaq up or down today 6/13 ?
- Thread starter Snafu
- Start date
Nikkei dropped 4% and the broad Eurpoean markets are down as well
http://www.msnbc.msn.com/id/13292018/
http://www.msnbc.msn.com/id/13292018/
US markets and world markets I assume waiting on this news...
The key releases of Tuesday are retail sales and producer prices in May, both due at 8:30 a.m. Eastern. The key consumer price figures are due out Wednesday.
Most analysts are predicting a weak 0.1 percent gain in overall retail sales but a more-robust climb of 0.5 percent when auto sales are taken out. Higher gasoline prices have taken away consumers' appetites for buying cars, analysts say.
Most economists are expecting a tame 0.2 percent for the core PPI number. For the full number, consensus expectations are for a bigger gain, of 0.5 percent.
The key releases of Tuesday are retail sales and producer prices in May, both due at 8:30 a.m. Eastern. The key consumer price figures are due out Wednesday.
Most analysts are predicting a weak 0.1 percent gain in overall retail sales but a more-robust climb of 0.5 percent when auto sales are taken out. Higher gasoline prices have taken away consumers' appetites for buying cars, analysts say.
Most economists are expecting a tame 0.2 percent for the core PPI number. For the full number, consensus expectations are for a bigger gain, of 0.5 percent.
I think alot of investors are just accumulating cash positions and locking in some gains until interest rates stablize.
Update
UPDATE: U.S. May Retail Sales Sluggish
06-13-06 08:47 AM EST
WASHINGTON (Dow Jones) - U.S. retail sales were sluggish in May, dragged down by weak auto sales and with most of the gain coming from higher gasoline prices, the government said Tuesday.
Retail sales rose a modest 0.1% in May, the Commerce Department estimated.
Excluding auto sales, retail sales rose 0.5%.
Economists had been expecting a tepid report and the increase in sales, and sales excluding autos, matched their forecasts, according to a survey conducted by MarketWatch.
One unexpected bright spot was a small upward revision to April retail sales, to a gain of 0.8% compared with the initial estimate of a 0.5% gain. Excluding autos, sales increased 0.8%, revised from 0.7%.
U.S. retail sales were up 7.6% in the past year, the Commerce Department said. Sales excluding autos were up 9.1%. The monthly figures are adjusted for seasonal factors, but not for price changes.
In May, the driving force for sales was at gasoline stations, where sales rose 1.9%.
Excluding gas, retail sales fell 0.1% in May after rising 0.3% in April.
Sales at motor vehicle and parts dealers decreased 1.6% and were up 1.9% year- over-year.
Sales of other durable goods were mixed: Building and hardware store sales fell by 0.4%, while furniture sales fell 0.5%. On the other hand, electronics and appliance store sales rose 0.4%.
General merchandise store sales increased 0.3%. Within that category, department store sales increased 0.1%.
Clothing store sales jumped 0.2%.
Sales at leisure-time stores such as sporting goods and books rose 0.7%.
Sales at food stores increased 0.6%. Sales at restaurants and bars were flat.
Sales at health and personal care stores increased 0.4%.
Sales at non-store outlets such as catalogs and online stores increased 1.8%.
UPDATE: U.S. May Retail Sales Sluggish
06-13-06 08:47 AM EST
WASHINGTON (Dow Jones) - U.S. retail sales were sluggish in May, dragged down by weak auto sales and with most of the gain coming from higher gasoline prices, the government said Tuesday.
Retail sales rose a modest 0.1% in May, the Commerce Department estimated.
Excluding auto sales, retail sales rose 0.5%.
Economists had been expecting a tepid report and the increase in sales, and sales excluding autos, matched their forecasts, according to a survey conducted by MarketWatch.
One unexpected bright spot was a small upward revision to April retail sales, to a gain of 0.8% compared with the initial estimate of a 0.5% gain. Excluding autos, sales increased 0.8%, revised from 0.7%.
U.S. retail sales were up 7.6% in the past year, the Commerce Department said. Sales excluding autos were up 9.1%. The monthly figures are adjusted for seasonal factors, but not for price changes.
In May, the driving force for sales was at gasoline stations, where sales rose 1.9%.
Excluding gas, retail sales fell 0.1% in May after rising 0.3% in April.
Sales at motor vehicle and parts dealers decreased 1.6% and were up 1.9% year- over-year.
Sales of other durable goods were mixed: Building and hardware store sales fell by 0.4%, while furniture sales fell 0.5%. On the other hand, electronics and appliance store sales rose 0.4%.
General merchandise store sales increased 0.3%. Within that category, department store sales increased 0.1%.
Clothing store sales jumped 0.2%.
Sales at leisure-time stores such as sporting goods and books rose 0.7%.
Sales at food stores increased 0.6%. Sales at restaurants and bars were flat.
Sales at health and personal care stores increased 0.4%.
Sales at non-store outlets such as catalogs and online stores increased 1.8%.
I myself have been really pissed off at the Nasdaq and Dow lately. 27% of my check goes into my 401K so you can understand why. It was nice when things were making moderate gains, but all of those gains seem to have been wiped out this past 2 weeks.
kneifl
kneifl
ECONOMIC REPORT: U.S. Producer Prices Rise 0.2% In May
06-13-06 09:39 AM EST
WASHINGTON (Dow Jones) -- U.S. producer prices increased 0.2% in May as energy prices moderated, but core prices inched higher amid signs that inflationary pressures are growing.
The Labor Department on Tuesday said prices for finished goods rose 0.2%, while the core PPI -- which excludes food and energy prices -- rose 0.3%.
The results were close to expectations of economists surveyed by MarketWatch, with the PPI a shade under the 0.3% expected and core prices a notch higher than the 0.2% expected.
In April, the PPI had risen 0.9%, with core prices up 0.1%.
In the past year, the PPI is up 4.5%, the fastest year-over-year gain since January. The core PPI is up 1.5% in the past year.
The Federal Reserve will get a better picture of inflationary trends on Wednesday, when the Labor Department reports on the consumer price index for May. Economists expect a 0.4% gain in the headline inflation rate, with a more moderate 0.2% gain in the core CPI.
After 16 consecutive rate hikes, the Fed has signaled that it is likely to raise interest rates again at the end of the month to maintain vigilance against inflation. Most analysts believe, however, that the Fed is close to the end of its tightening cycle.
Further rate increases will depend on the data, especially inflation, housing, consumer spending and job growth. Most Fed officials have said they expect core inflation to remain restrained, but are watchful against any outbreak higher.
So far, higher prices for commodities other than energy have not led to any significant inflation at the consumer level.
In a separate report, the Commerce Department said retail sales rose 0.1% in May, with sales excluding autos up 0.5%. The results were as expected.
While prices for finished goods were relatively tame in May, prices for goods under production jumped.
Intermediate goods prices increased 1.1%, the biggest gain since October. Core intermediate goods prices also rose 1.1%. Intermediate goods have been processed, but will undergo further transformations before final sale.
Crude goods prices increased 2%, also the largest gain since October. Crude goods are essentially raw materials.
At the finished level, energy prices increased 0.4%, with gasoline prices rising 2.2%. Natural gas prices fell 3.1%.
Food prices fell 0.5%.
The core PPI was boosted by a 1.9% rise in pharmaceutical prices. Heavy truck prices rose 1.4%, the most in 3-1/2 years. Car prices fell 0.4%.
Capital equipment prices rose 0.3%.
At the intermediate level, prices for materials for durable goods manufacturing rose 4.4%. Copper and brass mill shapes prices rose 23%. Nonferrous wire and cable prices increased 17%. Prices for materials for construction increased 1.2%.
The core intermediate PPI, which is considered a good gauge of pipeline inflationary pressures, is up 6.3% in the past year, the fastest gain in a year.
At the crude level, energy prices rose 2.5%. Prices of crude materials excluding energy rose 1.4%.
06-13-06 09:39 AM EST
WASHINGTON (Dow Jones) -- U.S. producer prices increased 0.2% in May as energy prices moderated, but core prices inched higher amid signs that inflationary pressures are growing.
The Labor Department on Tuesday said prices for finished goods rose 0.2%, while the core PPI -- which excludes food and energy prices -- rose 0.3%.
The results were close to expectations of economists surveyed by MarketWatch, with the PPI a shade under the 0.3% expected and core prices a notch higher than the 0.2% expected.
In April, the PPI had risen 0.9%, with core prices up 0.1%.
In the past year, the PPI is up 4.5%, the fastest year-over-year gain since January. The core PPI is up 1.5% in the past year.
The Federal Reserve will get a better picture of inflationary trends on Wednesday, when the Labor Department reports on the consumer price index for May. Economists expect a 0.4% gain in the headline inflation rate, with a more moderate 0.2% gain in the core CPI.
After 16 consecutive rate hikes, the Fed has signaled that it is likely to raise interest rates again at the end of the month to maintain vigilance against inflation. Most analysts believe, however, that the Fed is close to the end of its tightening cycle.
Further rate increases will depend on the data, especially inflation, housing, consumer spending and job growth. Most Fed officials have said they expect core inflation to remain restrained, but are watchful against any outbreak higher.
So far, higher prices for commodities other than energy have not led to any significant inflation at the consumer level.
In a separate report, the Commerce Department said retail sales rose 0.1% in May, with sales excluding autos up 0.5%. The results were as expected.
While prices for finished goods were relatively tame in May, prices for goods under production jumped.
Intermediate goods prices increased 1.1%, the biggest gain since October. Core intermediate goods prices also rose 1.1%. Intermediate goods have been processed, but will undergo further transformations before final sale.
Crude goods prices increased 2%, also the largest gain since October. Crude goods are essentially raw materials.
At the finished level, energy prices increased 0.4%, with gasoline prices rising 2.2%. Natural gas prices fell 3.1%.
Food prices fell 0.5%.
The core PPI was boosted by a 1.9% rise in pharmaceutical prices. Heavy truck prices rose 1.4%, the most in 3-1/2 years. Car prices fell 0.4%.
Capital equipment prices rose 0.3%.
At the intermediate level, prices for materials for durable goods manufacturing rose 4.4%. Copper and brass mill shapes prices rose 23%. Nonferrous wire and cable prices increased 17%. Prices for materials for construction increased 1.2%.
The core intermediate PPI, which is considered a good gauge of pipeline inflationary pressures, is up 6.3% in the past year, the fastest gain in a year.
At the crude level, energy prices rose 2.5%. Prices of crude materials excluding energy rose 1.4%.
DATA SNAP: US Apr Inventories Rise Less Than Expected
By Jeff Bater
Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- U.S. businesses accumulated inventories during April at a rate lower than expected as stockpiles of automobile dealers and general merchandise stores shrank.
Inventories increased by 0.4% to a seasonally adjusted $1.310 trillion, after a 0.7% advance in March, the Commerce Department said Tuesday.
Wall Street was looking for stockpiles to move higher by 0.6% during April.
Business sales rose by 0.6%, going to $1.043 trillion. Sales had increased 0.9% in March, revised from the previously estimated 0.7% gain.
The inventory-to-sales ratio held steady at 1.26 in April, Commerce said. The gauge indicates how well firms are matching supply with demand. It measures how long in months a firm would need to sell all current inventory.
Year over year, sales grew by 7.5% during the 12 months as opposed to a 4.1% climb in stockpiles since April 2005.
Manufacturing sector inventories rose by 0.7% in April, after a 0.9% increase in March. U.S. wholesalers' inventories climbed 0.9% after going up 0.6% in March.
Retail stocks decreased 0.2% during April. March retail inventories rose by 0.8%.
April auto dealer inventories shrank by 0.8%. Auto stockpiles rose by 1.3% in March. The industry's inventory-to-sales ratio decreased to 2.02 in April from 2.05 in March.
Excluding the auto component, other retail stocks increased 0.1% in April. Inventories were up 0.6% at furniture sellers; 0.1% at food and beverage retailers; 0.6% at clothing stores; and 0.9% at building materials, garden equipment and supplies stores. Stocks were down by 1.2% at general merchandise stores.
By Jeff Bater
Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- U.S. businesses accumulated inventories during April at a rate lower than expected as stockpiles of automobile dealers and general merchandise stores shrank.
Inventories increased by 0.4% to a seasonally adjusted $1.310 trillion, after a 0.7% advance in March, the Commerce Department said Tuesday.
Wall Street was looking for stockpiles to move higher by 0.6% during April.
Business sales rose by 0.6%, going to $1.043 trillion. Sales had increased 0.9% in March, revised from the previously estimated 0.7% gain.
The inventory-to-sales ratio held steady at 1.26 in April, Commerce said. The gauge indicates how well firms are matching supply with demand. It measures how long in months a firm would need to sell all current inventory.
Year over year, sales grew by 7.5% during the 12 months as opposed to a 4.1% climb in stockpiles since April 2005.
Manufacturing sector inventories rose by 0.7% in April, after a 0.9% increase in March. U.S. wholesalers' inventories climbed 0.9% after going up 0.6% in March.
Retail stocks decreased 0.2% during April. March retail inventories rose by 0.8%.
April auto dealer inventories shrank by 0.8%. Auto stockpiles rose by 1.3% in March. The industry's inventory-to-sales ratio decreased to 2.02 in April from 2.05 in March.
Excluding the auto component, other retail stocks increased 0.1% in April. Inventories were up 0.6% at furniture sellers; 0.1% at food and beverage retailers; 0.6% at clothing stores; and 0.9% at building materials, garden equipment and supplies stores. Stocks were down by 1.2% at general merchandise stores.
