Good morning. We have a lot of data to sort through this morning and so far premarket futures are positive in reaction to them.
Among the more notable market moving catalysts include better than expected earnings from Best Buy (BBY) & Goldman Sachs (GS), falling oil prices, chatter that recent rate-rise speculation is overdone, and strength in overseas markets. Unfortunately, there are some negatives out there as well including a higher than expected PPI (up +1.4% month-over-month (consensus +1.0%) and up 7.2% year-over-year (consensus 6.8%) and weaker than expected housing starts and building permits.
Premarket gainers: CSIQ, EFUT, AKNS, GOLD, BCS, SYUT, UBS, UAUA, GS, ELN, ALU, TGAL, CME, CX, TEVA, SQM, DAR, RMBS, AEHR, DRYS, IPHS, ERIC, JBLU, TEVA, WYE, & RTP.
Premarket losers: INFN, LZB, GPRO, CDNS, MHO, LVLT, ADBE, SOL, & CALM.
Along with everything else, reports on industrial production and the State Street Investor Confidence Index will be looked at this morning as well as how oil prices move ahead of tomorrow's inventory report.
Hard to believe that if the S&P 500 closes with a gain in today's session that it will be the longest streak (4 days) of gains this month. That's how difficult things have been in June. Have a terrific Tuesday!
