Volumes were light in most sessions despite the geopolitical news and February expiration cycle. Stocks finished the week with modest gains as a deal for Greece to remain in the Euro-Zone kept equities moving higher.

Investors ignored most economic data and sent small caps and the benchmark S&P 500 to another round of all-time highs.All four major indices are up modestly for the year with the tech sector leading the charge mainly on the back of Apple (AAPL).

Option volatility only fell slightly. The CBOE Volatility Index (VIX) fell another 2.6% and dropped below support at its 200-day moving average. The ‘Fear Gauge’ is low but still above levels from last year when stocks were at all-time highs.

Treasury yields firmed up this past week as more upside in stocks in the had investors continuing the migration to ‘Risk-On’ mode.
Oil futures (/CL) continued to fall on supply concerns. As expected, Thursday’s report showed an 80-year high for inventories of crude.
Consumer sector news was favorable with a drop in initial jobless claims. But housing and industrial production are sluggish. Meanwhile, inflation is low and the Fed appears to be inclined to keep policy rates low. The upcoming week is full of economic data and a final push on some key corporate results. Housing has been mixed and winter months have sizeable seasonal factors. Traders will be watching for news on existing home sales, new home sales, and pending home sales. New price data will post for Case-Shiller and FHFA. Manufacturing also has been soft and the durables report on Wednesday will garner attention. The Fed is balancing the labor market with inflation data. So, this week’s CPI report could affect Fed decision making. Second revision to fourth quarter GDP growth will also be posted. Fed Chair Yellen is also due to give her semi-annual monetary policy testimony to Congress on Tuesday and Wednesday.

Major Earnings for the Upcoming Week:

Monday:

A.M. – AU, CTB, DISH

P.M. –AGU, ESRX, THC, VVUS

Tuesday:

A.M. – AMT, BMO, CMCSA, DPZ, DYN, HD, KATE, M, ODP, SPWR, TOL, VRX, VAL

P.M.– CLR, CLGX, FSLR, HPQ, PZZA, SINA, WBMD

Wednesday:

A.M. – CPB, CHK, DLTR, LOW, SODA, TGT, TJX

P.M. – CRM, DRYS, LB, RIG, TIVO, WDAY

Thursday:

A.M. – BUD, DDD, GOGO, KSS, RBS, SHLD, TWI, TD

P.M. – CROX, GPS, HLF, JCP, ROST, SWN, YOKU

Friday:

A.M. –N/A

Economic Releases (2/23 – 2/27):

Monday:

7:30 am CT – Chicago Fed Activity Index

8:45 am CT– PMI Services Flash

9:00 am CT – Existing Home Sales

9:30 am CT – Dallas Fed Mfg. Survey

Tuesday:

8:00 am CT – S&P Case-Shiller HPI

9:00 am CT– Consumer Confidence

9:00 am CT – Fed’s Yellen Speaks

9:00 am CT – Richmond Fed Mfg. Index

12:00 pm CT – 2-Year Note Auction Results

Wednesday:

6:00 am CT – MBA Purchase Applications

9:00 am CT – New Home Sales

9:00 am CT – Fed’s Yellen Speaks

9:30 am CT – Oil Inventories

12:00 pm CT – 5-Year Note Auction Results

Thursday:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Consumer Price Index

7:30 am CT – Durable Goods Orders

8:00 am CT – FHFA House Price Index

9:30 am CT – Natural gas Inventories

11:40 am CT – Fed’s Lockhart Speaks

12:00 pm CT – 7-Year Note Auction Results

Friday:

7:30 am CT – GDP

8:45 am CT– Chicago PMI

9:00 am CT – Consumer Sentiment

9:00 am CT – Pending Home Sales Index

Fed’s Dudley Speaks

Fed’s Mester Speaks

Fed’s Fischer Speaks

—

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis.  This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise.  Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products.  By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials.  In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

 

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.