Purchase applications were announced this morning and this week the report
shows and increase of 3% while the refinance applications are down 3%. At 8:30am
the International Trade report will be announced. April brought a decline in the
trade gap but only because of a drop in imports. At 10am the wholesale inventory
consensus will be announced. In April the inventories rose 0.6% but not enough to
match the increase in sales of 1.1%.
At the close yesterday the S&P 500 was still down at 0.81% decline. There is hope
for today though due to the stock index futures advance, according to Reuters. As
for 10-year treasuries and oil they both closed on an increase of 0.35% and 1.19%
respectively. The dollar on the other hand was down 0.19% at the close.
As for the earnings season today should be a positive day with 9 out of the 15
announcements projected to be positive. The big announcement to watch out for
today is Marriott, the company is estimated to increase EPS by 13.52%.
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@keeneonmarket!