Stock Market Outlook for May 16, 2013
Upcoming US Events for Today:
- Consumer Price Index for April will be released at 8:30am. The market expects a month-over-month decline of 0.3% versus a decline of 0.2% previous. Excluding Food and Energy, the index is expected to increase by 0.2% versus an increase of 0.1% previous.
- Housing Starts for April will be released at 8:30am. The market expects 969K versus 1036K previous. Building Permits are expected to show 945K versus 902K previous.
- Weekly Jobless Claims will be released at 8:30am. The market expects Initial Claims to show 330K versus 323K previous.
- Philadelphia Fed Index for May will be released at 10:00am. The market expects 2.2 versus 1.3 previous.
Upcoming International Events for Today:
- Euro-Zone CPI for April will be released at 5:00am EST. The market expects a year-over-year increase of 1.2%, consistent with the previous report.
- Euro-Zone Trade Balance for March will be released at 5:00am EST.
- Japan Machine Orders for March will be released at 7:50pm EST. The market expects a year-over-year decline of 4.9% versus a decline of 11.3% previous.
Recap of Yesterday’s Economic Events:
|JPY Consumer Confidence||44.5||45.5||44.8|
|EUR French Gross Domestic Product (QoQ)||-0.20%||-0.10%||-0.20%|
|EUR French Gross Domestic Product (YoY)||-0.40%||-0.40%||-0.30%|
|EUR German Gross Domestic Product s.a. (QoQ)||0.10%||0.30%||-0.70%|
|EUR German Gross Domestic Product w.d.a. (YoY)||-0.20%||0.20%||0.30%|
|EUR German Gross Domestic Product n.s.a. (YoY)||-1.40%||0.20%||0.00%|
|EUR Italian Gross Domestic Product s.a. and w.d.a. (QoQ)||-0.50%||-0.40%||-0.90%|
|EUR Italian Gross Domestic Product s.a. and w.d.a. (YoY)||-2.30%||-2.20%||-2.80%|
|GBP Claimant Count Rate||4.50%||4.60%||4.60%|
|GBP Jobless Claims Change||-7.3K||-3.0K||-9.9K|
|GBP Average Weekly Earnings (3M/YoY)||0.40%||0.70%||1.00%|
|GBP Weekly Earnings exBonus (3M/YoY)||0.80%||0.80%||1.00%|
|GBP ILO Unemployment Rate (3M)||7.80%||7.90%||7.90%|
|GBP Employment Change (3M/3M)||-43K||-20K||-2K|
|CHF ZEW Survey (Expectations)||2.2||20|
|EUR Euro-Zone Gross Domestic Product s.a. (QoQ)||-0.20%||-0.10%||-0.60%|
|EUR Euro-Zone Gross Domestic Product s.a. (YoY)||-1.00%||-0.90%||-0.90%|
|USD MBA Mortgage Applications||-7.30%||7.00%|
|CAD Manufacturing Shipments (MoM)||-0.30%||0.50%||2.80%|
|USD Empire Manufacturing||-1.43||4||3.05|
|USD Producer Price Index (MoM)||-0.70%||-0.60%||-0.60%|
|USD Producer Price Index Ex Food & Energy (MoM)||0.10%||0.10%||0.20%|
|USD Producer Price Index (YoY)||0.60%||0.80%||1.10%|
|USD Producer Price Index Ex Food & Energy (YoY)||1.70%||1.70%||1.70%|
|USD Total Net TIC Flows||$2.10||$61.9B|
|USD Net Long-term TIC Flows||$-13.5B||$35.0B||$-13.3B|
|CAD Existing Home Sales (MoM)||0.60%||2.40%|
|USD Industrial Production||-0.50%||-0.10%||0.30%|
|USD Capacity Utilization||77.80%||78.30%||78.30%|
|USD Manufacturing (SIC) Production||-0.40%||0.00%||-0.30%|
|USD NAHB Housing Market Index||44||43||41|
|USD DOE U.S. Crude Oil Inventories||-624K||450K||230K|
|USD DOE U.S. Gasoline Inventories||2588K||-1100K||-910K|
|USD DOE U.S. Distillate Inventory||2300K||475K||1812K|
|USD DOE Cushing OK Crude Inventory||575K||-652K|
|NZD Business NZ Performance of Manufacturing Index||54.5||53.4|
|JPY Gross Domestic Product (QoQ)||0.90%||0.70%||0.30%|
|JPY Gross Domestic Product Annualized||3.50%||2.70%||1.00%|
|JPY Nominal Gross Domestic Product (QoQ)||0.40%||0.50%||0.10%|
|JPY Gross Domestic Product Deflator (YoY)||-1.20%||-0.90%||-0.70%|
Seasonal charts of companies reporting earrings today:
Sentiment on Wednesday, as gauged by the put-call ratio, ended 0.78.
S&P 500 Index
Chart Courtesy of StockCharts.com
Chart Courtesy of StockCharts.com
Horizons Seasonal Rotation ETF (TSX:HAC)
- Closing Market Value: $13.38 (up 0.22%)
- Closing NAV/Unit: $13.36 (up 0.12%)
|2013 Year-to-Date||Since Inception (Nov 19, 2009)|
* performance calculated on Closing NAV/Unit as provided by custodian
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