NDW Morning Pulse
Below are highlights from the NDW Morning Update Video for the morning of 8/12. Access the the video on the NDW Morning Update Video page.
- Index futures are higher this morning with the Nasdaq leading to the upside, up around 75 bps.
- It was a relatively quiet day in the market on Tuesday. Stocks were down slightly as the S&P 500 (SPX) dropped 32 bps, the Nasdaq-100 (NDX) fell 33 bps, and the Dow (.DJIA) lost 34 bps.
- While the broad indices were down, semiconductors advanced as the iShares Semiconductor ETF (SOXX) gained a little under 1%.
- International equities were up modestly as the iShares MSCI Emerging Markets ETF (EEM) gained 40 bps and the and the iShares MSCI EAFE ETF (EFA) was up seven bps.
- July CPI came out this morning, matching consensus estimates of 10 bps for headline and 20 bps for core inflation last month. The futures market was pricing in about a 75% chance of at least one rate increase by the end of the year.
- Cisco Systems (CSCO) will report earnings after close this afternoon. The stock is a 5 for 5’er and sits on a buy signal on its default chart after breaking a double top at $122 last week. Initial support can be found at $108, while overhead resistance sits at $130, CSCO’s all-time high.
