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Stock Market Wars: Return Of The Bulls

By jnyaradi
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Courtesy of John Nyaradi.

I predict a stock market rise today due to better economic data and hope for more records

stocks, ETF, Daily Market Wrap, SPX, SPX Chart, NYSEARCA:DIA, NYSEARCA:SPY, NASDAQ:QQQ, NYSEARCA:IWM, NYSEARCA:USOThe Fortune Teller Speaks:

The bulls just might take over the stock market again today, given the better jobs data and frantic buying to get more records.

Wall Street Beats & Jives:

Today is a huge day for economic data, with the Weekly Jobless Claims (323,000 claims versus 344,000)  and the Core CPI (+.02%) both turning in improved data results.  The kicker especially is the Weekly Jobless Claims, which sent markets through the roof in a single day few weeks ago and could do so again today.  We are also due for a Philly Fed release at 10 AM, so that could stir things up today as well.

From an earnings point of view, retail (NYSEARCA:XRT) giants Target (NYSE:TGT) and Abercrombie & Fitch (NYSE:ANF) have already released their earnings, the results of which are dismal at best.  Dollar Tree (NASDAQ:DLTR), Gap (NYSE:GPS), and Ross (NASDAQ:ROST) are all scheduled to release their Q3 2013 earnings reports this afternoon at 4 PM.  There is something ironic about winding down the earnings season with retail companies’ earnings reports just before Black Friday, especially if the retail company’s earnings report is bad.

Click here to learn more about John’s book and for a free membership to Wall Street Sector Selector

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