Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Loading...
Most Recent Stories

MARKET WRAP – STOCKS DINGED ON CONSUMER DATA

Weak consumer data led to a broad sell-off on Wall Street.  Strong earnings from Intel weren’t enough to bolster the market as investors chose to focus on consumer data out of JP Morgan and the University of Michigan.  Stocks lost 1% on heavier volume.  The sell-off was broad based.  Daily Futures wraps up the action from all markets:

U.S. Economy
The U.S. Labor Department said that the consumer price index was up .1% in December and up 2.7% from a year ago, the biggest annual gain in two years, but less than expected. The March U.S. T-bonds were up 19/32nds to 117.12/32nds, the highest close in three weeks.

The Federal Reserve said that industrial production was up .6% in December, as expected.

The University of Michigan’s consumer sentiment index increased from 72.5 to 72.8 in early January, not as strong as expected. The March eurodollars were up .055 to 98.53.

The New York Federal Reserve’s regional index of manufacturing increased from 4.50 to 15.92 in January, stronger than expected.

Grains and Cotton
The USDA said that 116,000 tons of U.S. corn was sold to unknown destinations. March corn dropped 9.5 cents to $3.715.

March cotton fell .83 to 72.08, the lowest close in eight weeks, pressured by today’s stronger U.S. dollar.

Livestock
The U.S. Meat Export Federation said that total beef exports were up 4% in November from a year ago. Total pork exports were down .2% in November from a year ago. April cattle were down .02 at 90.52.

After the close, the USDA estimated this week’s beef production at 505.6 million pounds, up 5.2% from a year ago. Pork production was estimated at 438.0 million pounds, down 7.3% from a year ago. April hogs closed up .52 at 73.27.

Orange juice
The ten-day forecast for central Florida remains safely warm, but it is not clear yet how bad the damage was from the freezing temperatures that the citrus groves have already endured. March orange juice ended down 1.20 cents at $1.3175.

Energies
Today’s 6 to 10 day forecast from the National Weather Service expects above average temperatures for the eastern two-thirds of the U.S. March natural gas finished up 10.1 cents at $5.671.

Currencies
Eurostat said that consumer prices in the European Union were up 1.4% in December from a year ago. The March euro closed down 1.46 cents at $1.4355.

Statistics Canada said that new vehicle sales were down 6% in November at 124,764 units.