U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points in pre-opening trade.
Index futures were virtually unchanged following release of the February Durable Goods Orders report at 8:30 AM EDT. Consensus was a decline of 0.8% versus an upwardly revised gain of 0.1% in January. Actual was an increase of 1.2%. Excluding Transportation Orders, consensus was a drop of 0.4% versus a gain of 0.6% in January. Actual was a drop of 0.6%.
Nike gained $7.18 to $79.51 after reporting higher than consensus fiscal third quarter revenues.
Boeing (BA $127.68) is expected to open higher in anticipation of resumption of flight of its 737 Max aircraft in May.
Apple added $0.18 to $247.06 after Deutsche Bank upgraded the stock from Hold to Buy.
Paychex gained $1.21 to $60.77 after reporting higher than consensus fiscal third quarter earnings.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/03/24/stock-market-outlook-for-march-25-2020/
Note seasonality chart on New Home Sales.
StockTwits released yesterday @EquityClock
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Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for March 24th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for March 24th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 24th 2020
Green: Increase from previous day
Red: Decrease from previous day
Observation
Dow soars over 11% in best day since 1933 on hope for plan to rescue economy from coronavirus.
S&P 500 Momentum Barometer
The Barometer improved 0.40 to 1.60 yesterday. It remains deeply intermediate oversold and showing early signs of bottoming.
TSX Momentum Barometer
The Barometer gained 3.04 to 4.35 yesterday. It remains deeply intermediate oversold and showing early signs of bottoming.
Disclaimer: Seasonality and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed
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