Major equity indexes have continued their seemingly perpetual ascent, although the last few legs higher have been accompanied by an uptick in volatility. The recent choppiness in the market amid all-time highs has yet again prompted countless pundits to forecast that a steep correction is just around the corner [for more commodity futures news and analysis subscribe to our free newsletter].
Major equity indexes climbed higher last week week and kicked this week off on strong footing thanks to upbeat new home sales data and a lack of “bad surprises” from the latest FOMC minutes release. Overseas, tensions between Ukraine and Russia are heating up again following presidential elections as well as a firefight over Donetsk airport [for more commodity futures news and analysis subscribe to our free newsletter].
Major equity indexes climbed higher this past week thanks to some encouraging economic data releases at home. Investors welcomed a 3.4% improvement in pending home sales over the past month, better-than-expected ADP employment data on Wednesday, and upbeat ISM manufacturing data on Thursday. Overseas, tensions between Ukraine and Russia remain at center stage, and as such, the lack of major developments left the doors open for buyers [for more commodity futures news and analysis subscribe to our free newsletter].
Bullish euphoria continues to permeate Wall Street as evidenced by the S&P 500′s seemingly perpetual ascent into previously uncharted territory. Economic data remains mixed however and investors are finding it harder and harder to blame the slowdown on the nasty winter weather, which is why U.S. equity benchmarks have largely traded sideways following the most recent employment report from March 7th [for more commodity futures news and analysis subscribe to our free newsletter].
Major equity indexes have managed to claw their way back up to where they were prior to the broad-based correction seen on Wall Street at the end of last month. In fact, the NASDAQ-100 has even managed to post fresh highs, whereas the Dow Jones Industrial Average still has room to run before it hits previous resistance levels. Amid the bullish price action, however, economic data remains suppressed by the harsh weather conditions at home, which have dragged on retail sales as well as the labor market recovery [for more commodity futures news and analysis subscribe to our free newsletter].
Major U.S. equity indexes have managed to snap the losing streak that plagued markets since the New Year and February is off to a very green start. Upbeat corporate earnings have helped fuel the rebound on Wall Street while a relatively quiet political front has also helped to bring back certainty. Last month’s employment report was a mixed bag, and although investors reacted positively in light of “oversold” conditions at the time, the next labor market data release will likely be scrutinized more heavily as investors look for clues surrounding the Fed’s next move [for more commodity futures news and analysis subscribe to our free newsletter].
The bears finally got their way in 2014. Rampant selling pressures have rattled investors’ confidence on Wall Street amid sluggish data releases on both sides of the Atlantic, coupled with fiscal and political instability in emerging markets, which has raised worries over the possibility of contagion. With earnings season still well underway at home, major equity indexes have paved a rocky start to 2014, prompting bearish pundits to cite the coveted January barometer as an omen of more downside to come [for more commodity futures news and analysis subscribe to our free newsletter].
Much to the bears’ frustration, major U.S. equity indexes are refusing to make way for profit taking pressures even as earnings season continues full steam ahead. The S&P 500 Index continues to inch further into uncharted territory, although over the past two weeks it has failed to continue its impressive streak of posting new highs, leading many to speculate about what headwinds could spark the next steep correction on Wall Street [for more commodity futures news and analysis subscribe to our free newsletter].
Earnings season is kicking into gear and the bears are lurking once again on Wall Street. With the Fed taper headwind behind us, markets are now looking to corporate earnings for confirmation of the improving growth prospects, which have been bolstering expectations and stock prices higher alike throughout all of 2013 [for more commodity futures news and analysis subscribe to our free newsletter].
Much to the bears’ frustration, the stock market bulls came out on top in 2013 as clouds of uncertainty blanketed the world of commodities. Persistent fears over slowing growth in China continue to put a damper on demand for natural resources; however, the industrial metals finally appear to be reversing course after a string of encouraging regional manufacturing reports [for more commodity futures news and analysis subscribe to our free newsletter]. Amid the ongoing bull market at home, many remain hesitant to jump in long given the magnitude of the current run-up ahead of the potential budget drama that could arise and spark a correction well ahead of the February 7th debt-ceiling deadline. As such, below we highlight two commodity stocks that may offer an attractive short selling opportunity for those looking to bet against some of the stellar run-ups already seen across Wall Street.