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Market Lab Report - Premarket Pulse 12/14/16

Major averages rose on mixed, above average volume closing in the middle to upper half of their trading ranges. The NASDAQ-100 outperformed, finally closing at new highs, and this also helped to propel the NASDAQ Composite Index to its own all-time high as it broke out of a long consolidation.

November producer prices increased 0.4% while analysts expected an increase of 0.2%. Meanwhile, retail sales came in below expectations. Excluding autos, retail sales rose 0.2% while the consensus expected an uptick of 0.4%. The prior month's reading was revised lower to 0.6% from 0.8%.

November Industrial Production decreased 0.4% (consensus -0.1%) while Capacity Utilization worsened to 75.0% (consensus 75.1%).

October Business Inventories will be released at 10:00 am ET.

The Federal Reserve concludes its two day meeting at 2 pm ET today. It is widely expected they will hike interest rates. The FOMC Policy Decision will be made public at 2:00 pm ET, followed by Fed Chair Yellen's press conference at 2:30 pm ET.

Expect markets to trade in a narrow range until then.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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