Seeking Alpha

Wall Street Str...'s  Instablog

Wall Street Strategies
Send Message
Wall Street Strategies has been providing independent stock market research since 1991 to individual, retail and institutional clients through a balanced approach to investing and trading. Charles Payne, our founder and chief analyst, is routinely sought after for his stock market, political,... More
My company:
Wall Street Strategies
My book:
Be Smart, Act Fast, Get Rich
  • MIXED EARNINGS LOWER THE MARKET - By Dominique Paul 0 comments
    Jul 25, 2014 2:12 PM

    After four sessions of better than expected earnings reports, companies that reported mixed earnings (including Amazon and Pandora) yesterday evening and this morning greatly disappointed investors. The market opened lower, with major indices continuing to trade in the red. The Dow Jones Industrial Average, so far decreased 0.72% to levels beneath the 17,000-level. With eight sectors in the red, the S&P 500, has fallen from its newest all-time high achieved yesterday. Unfortunately, there was not much economic data released today to alleviate the situation.

    During the month of June, orders for durable goods increased 0.7%, after a 1% decline during the month of June, much higher than consensus at 0.5%. When excluding transportation, orders increased 0.8% in June, after a small dip of 0.1% in May. Major gains were posted in primary metals, machinery, computers and electronics, and "other." Transportation made a small comeback of 0.6%, after it fell 2.6% in May thanks to an increase in defense aircraft and nondefense aircraft orders; however, motor vehicle orders fell. Non-defense capital goods orders excluding aircraft rebounded 1.4% to 70,365 from 69,373 in May which can be observed in the chart below. Also, unfilled orders for nondefense capital goods excluding aircraft increased 1.2% in June after rising 0.5% in May. Manufacturers have been collecting a lot of orders, but need to begin delivering. Overall, we expect manufacturing to continue improving into the second half of 2014.

Back To Wall Street Strategies' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.