Wall Street's Week Ahead: Dow Jones Industrial Average Hits Record High … – International Business Times

U.S. stocks traded higher Monday, with the Dow Jones Industrial Average hitting a record intraday high. Much of the focus this week will be on the final leg of earnings season, with notable financial results from Wal-Mart Stores Inc. (NYSE:WMT), the world’s largest retailer.

Market professionals will also be eyeing the health of Japan’s economy, which will be revealed Tuesday evening when the world’s third largest economy will posts gross domestic product for the first quarter.

In morning trading, the Dow Jones Industrial Average (INDEXDJX:.DJI) rose 19.61 points, or .11 percent, to 18,292. The Standard & Poor’s 500 (INDEXNASDAQ:.IXIC) added 2.41 points, or .12 percent, to 2,125. The Nasdaq composite (INDEXSP:.INX) rose 9.38 points, or .19 percent, to 5,057.

The S&P 500 index closed at record highs last Thursday and Friday, led by gains in the technology sector and the telecommunications services sector. As of Friday’s close, the Dow Jones Industrial Average came within 16 points of a new record. The old record was set March 2, when the Dow closed at 18,288.63. The Nasdaq ended the session within roughly 50 points of its all-time closing high.

Notable companies reporting earnings this week include Wal-Mart Stores Inc., Target Corporation, Best Buy Co. Inc., Home Depot Inc. and Lowe’s Companies Inc. 

Analysts expect Wal-Mart to report first-quarter net income of $3.38 billion, or $1.05 per share, on revenue of $116.3 billion, according to estimates from analysts polled by Thomson Reuters. That compares with a profit of $3.59 billion, or $1.11 per share, on sales of $114.96 billion during the same period a year ago.

Shares of Wal-Mart are currently trading around $79.

Minutes from U.S. Federal Reserve’s April meeting will be released Wednesday at 2 p.m. EDT.  Economists will look for hints as to when the central bank plans to raise interest rates. The Federal Reserve kept interest rates at historic lows following its two-day policy meeting on April 28-29, and most economists anticipate the Fed will lift rates as early as September after the U.S. economy grew slower than expected in the first quarter.

Meanwhile, economists forecast Japan’s GDP, the broadest measure of goods and services produced across the economy, expanded at a 1.5 seasonally adjusted annual rate in the first quarter from the previous quarter, according to analysts polled by Thomson Reuters. The official numbers come out Tuesday.

The consumption tax increase that went into effect in April 2014 is widely blamed for pushing Japan’s economy into recession last year, weighing on consumer spending, and leading to two consecutive quarters of contraction in the second and third quarters in 2014.

Here’s the latest economic calendar for the week of May 15. All listed times are EDT.

Monday

  • 10 a.m. — Home builders’ index (April)

Tuesday

  • 8:30 a.m. — Housing starts (April)
  • 8:30 a.m. — Building permits (April)

Non U.S.:

  • Japan — Gross Domestic Product (Q1)

Wednesday

  • 2 p.m. — FOMC minutes

Thursday

  • 8:30 a.m. — Weekly jobless claims
  • 8:30 a.m. — Chicago Fed national activity index (April)
  • 10 a.m. — Existing home sales (April)
  • 10 a.m. — Philly Fed (May)
  • 10 a.m. — Leading indicators (April)

Non U.S.:

  • Europe – Speech from European Central Bank President Mario Draghi

Friday

  • 8:30 a.m. — Consumer price index (April)
  • 9:45 a.m. — Markit PMI flash (May)

Non U.S.:

  • Japan — Bank of Japan monetary policy statement
  • Germany — gross domestic product 

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The Nasdaq Composite Index (^IXIC) is Today's 'Chart of the Day' – TheStreet.com

NEW YORK (TheStreet) — The Nasdaq Composite Index is up 0.8% to $5,096.60 in trading on Friday and is the subject of today’s Trifecta Stocks ‘Chart of the Day’ analysis.

The composite index recently reached highs it has not seen since March 2000, however analysts Bryan Ashenberg and Bob Lang do not see the Nasdaq as being overbought yet based on momentum indicators.

The Moving Average Convergence Divergence (MACD) is on a buy signal and volume trends have been very positive.

The Relative Strength Index (RSI) shows this index has actually been performing the best since early April, with the SPX 500 right behind it.

There was potential for a nasty looking head-and-shoulders pattern that was rejected soundly on Wednesday and Thursday. We could see about 10% more to the upside now (to around 5500).

DISCLOSURE: Trifecta Stocks focuses on specific equities and thus has no positions on the entire Nasdaq Index. This Alert is a technical analysis of its chart, and we are not taking any action at this time.

Must Read: Warren Buffett’s Top 25 Stocks for 2015

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The Nasdaq Composite Index (^IXIC) is Today's 'Chart of the Day' – TheStreet.com

NEW YORK (TheStreet) — The Nasdaq Composite Index is up 0.8% to $5,096.60 in trading on Friday and is the subject of today’s Trifecta Stocks ‘Chart of the Day’ analysis.

The composite index recently reached highs it has not seen since March 2000, however analysts Bryan Ashenberg and Bob Lang do not see the Nasdaq as being overbought yet based on momentum indicators.

The Moving Average Convergence Divergence (MACD) is on a buy signal and volume trends have been very positive.

The Relative Strength Index (RSI) shows this index has actually been performing the best since early April, with the SPX 500 right behind it.

There was potential for a nasty looking head-and-shoulders pattern that was rejected soundly on Wednesday and Thursday. We could see about 10% more to the upside now (to around 5500).

DISCLOSURE: Trifecta Stocks focuses on specific equities and thus has no positions on the entire Nasdaq Index. This Alert is a technical analysis of its chart, and we are not taking any action at this time.

Must Read: Warren Buffett’s Top 25 Stocks for 2015

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United States Steel Corp (NYSE:X) in Focus – Street Report

[PRNewswire] United States Steel Corp (NYSE:X)(TREND ANALYSIS) President and Chief Executive Officer Mario Longhi today announced that Nancy Sykes has been named vice president – human resources.  In this position, she will be responsible for all facets of the company’s human resources, as well as medical and health services. Sykes will be based at the company’s Pittsburgh headquarters and will join the company’s executive management team.

“I am pleased to welcome Nancy to U. S. Steel, where her broad expertise of global human resources management will add immediate value to the organization,” Longhi said.  “Her proven leadership in all human capital strategy and talent management will serve our company well as we continue our Carnegie Way transformation.”

Stock Performance: Click here for a free comprehensive Trend Analysis Report

X reported last quarter earnings on April 28. The Steel Producing company announced earnings per share of $-0.07 against a consensus Street estimate of $0.26, missing estimate by $0.33. This corresponds to an increase of $0.52 compared to the same quarter of the previous fiscal year.

United States Steel Corp (NYSE:X) is currently trading 44% below its 52-week-high, 29.51% above its 52-week-low. The 1-year range for the stock is $20.13 – $46.55. United States Steel Corp (X) has a price to book ratio of 1.03 versus Basic Materials sector average of 2.31. X stock price has underperformed the S&P 500 by 4.3%. The Steel Producing company is currently valued at $3.8 billion and its share price closed the last trading session at $26.07. The stock has a 50-day moving average of $25.13 and a 200-day moving average of $27.05.

United States Steel Corp (X) current short interest stands at 43.54 million shares. It has decreased by 9% from the same period of last month. Around 32% of the company’s shares, which are float, are short sold. With a 10-days average volume of 7.74 million shares, the number of days required to cover the short positions stand at 5.7 days.

Is this a Buying Opportunity? Click here for a free Trend Analysis Report

There are currently twenty analysts that cover X stock. Of those twenty, seven have a Buy rating, eight have a Hold rating and five have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $24.82.

A recent analyst activity consisted of Citigroup reiterating their Sell stance on April 14. Citigroup decreased price target from $17 to $15. This corresponds to a 42.46% downside from the last closing price. On the date of report, the stock closed at $25.85.

Clarkson Capital Markets initiated their coverage on the stock with Sell rating on the same day, and fixed their price target at $18. This corresponds to a 30.96% downside from the last closing price. On the date of report, the stock closed at $25.85.

Company profile

United States Steel Corporation is an integrated steel producer flat-rolled and tubular products with production operations in North America and Europe. The Company uses iron ore and coke as primary raw materials for steel production.

United States Steel Corp (NYSE:X) in Focus was last modified: May 18th, 2015 by Eric Hanson

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The Nasdaq Composite Index (^IXIC) is Today's 'Chart of the Day' – TheStreet.com

NEW YORK (TheStreet) — The Nasdaq Composite Index is up 0.8% to $5,096.60 in trading on Friday and is the subject of today’s Trifecta Stocks ‘Chart of the Day’ analysis.

The composite index recently reached highs it has not seen since March 2000, however analysts Bryan Ashenberg and Bob Lang do not see the Nasdaq as being overbought yet based on momentum indicators.

The Moving Average Convergence Divergence (MACD) is on a buy signal and volume trends have been very positive.

The Relative Strength Index (RSI) shows this index has actually been performing the best since early April, with the SPX 500 right behind it.

There was potential for a nasty looking head-and-shoulders pattern that was rejected soundly on Wednesday and Thursday. We could see about 10% more to the upside now (to around 5500).

DISCLOSURE: Trifecta Stocks focuses on specific equities and thus has no positions on the entire Nasdaq Index. This Alert is a technical analysis of its chart, and we are not taking any action at this time.

Must Read: Warren Buffett’s Top 25 Stocks for 2015

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

The Nasdaq Composite Index (^IXIC) is Today's 'Chart of the Day' – TheStreet.com

NEW YORK (TheStreet) — The Nasdaq Composite Index is up 0.8% to $5,096.60 in trading on Friday and is the subject of today’s Trifecta Stocks ‘Chart of the Day’ analysis.

The composite index recently reached highs it has not seen since March 2000, however analysts Bryan Ashenberg and Bob Lang do not see the Nasdaq as being overbought yet based on momentum indicators.

The Moving Average Convergence Divergence (MACD) is on a buy signal and volume trends have been very positive.

The Relative Strength Index (RSI) shows this index has actually been performing the best since early April, with the SPX 500 right behind it.

There was potential for a nasty looking head-and-shoulders pattern that was rejected soundly on Wednesday and Thursday. We could see about 10% more to the upside now (to around 5500).

DISCLOSURE: Trifecta Stocks focuses on specific equities and thus has no positions on the entire Nasdaq Index. This Alert is a technical analysis of its chart, and we are not taking any action at this time.

Must Read: Warren Buffett’s Top 25 Stocks for 2015

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

The Nasdaq Composite Index (^IXIC) is Today's 'Chart of the Day' – TheStreet.com

NEW YORK (TheStreet) — The Nasdaq Composite Index is up 0.8% to $5,096.60 in trading on Friday and is the subject of today’s Trifecta Stocks ‘Chart of the Day’ analysis.

The composite index recently reached highs it has not seen since March 2000, however analysts Bryan Ashenberg and Bob Lang do not see the Nasdaq as being overbought yet based on momentum indicators.

The Moving Average Convergence Divergence (MACD) is on a buy signal and volume trends have been very positive.

The Relative Strength Index (RSI) shows this index has actually been performing the best since early April, with the SPX 500 right behind it.

There was potential for a nasty looking head-and-shoulders pattern that was rejected soundly on Wednesday and Thursday. We could see about 10% more to the upside now (to around 5500).

DISCLOSURE: Trifecta Stocks focuses on specific equities and thus has no positions on the entire Nasdaq Index. This Alert is a technical analysis of its chart, and we are not taking any action at this time.

Must Read: Warren Buffett’s Top 25 Stocks for 2015

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

The Nasdaq Composite Index (^IXIC) is Today's 'Chart of the Day' – TheStreet.com

NEW YORK (TheStreet) — The Nasdaq Composite Index is up 0.8% to $5,096.60 in trading on Friday and is the subject of today’s Trifecta Stocks ‘Chart of the Day’ analysis.

The composite index recently reached highs it has not seen since March 2000, however analysts Bryan Ashenberg and Bob Lang do not see the Nasdaq as being overbought yet based on momentum indicators.

The Moving Average Convergence Divergence (MACD) is on a buy signal and volume trends have been very positive.

The Relative Strength Index (RSI) shows this index has actually been performing the best since early April, with the SPX 500 right behind it.

There was potential for a nasty looking head-and-shoulders pattern that was rejected soundly on Wednesday and Thursday. We could see about 10% more to the upside now (to around 5500).

DISCLOSURE: Trifecta Stocks focuses on specific equities and thus has no positions on the entire Nasdaq Index. This Alert is a technical analysis of its chart, and we are not taking any action at this time.

Must Read: Warren Buffett’s Top 25 Stocks for 2015

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

The Nasdaq Composite Index (^IXIC) is Today's 'Chart of the Day' – TheStreet.com

NEW YORK (TheStreet) — The Nasdaq Composite Index is up 0.8% to $5,096.60 in trading on Friday and is the subject of today’s Trifecta Stocks ‘Chart of the Day’ analysis.

The composite index recently reached highs it has not seen since March 2000, however analysts Bryan Ashenberg and Bob Lang do not see the Nasdaq as being overbought yet based on momentum indicators.

The Moving Average Convergence Divergence (MACD) is on a buy signal and volume trends have been very positive.

The Relative Strength Index (RSI) shows this index has actually been performing the best since early April, with the SPX 500 right behind it.

There was potential for a nasty looking head-and-shoulders pattern that was rejected soundly on Wednesday and Thursday. We could see about 10% more to the upside now (to around 5500).

DISCLOSURE: Trifecta Stocks focuses on specific equities and thus has no positions on the entire Nasdaq Index. This Alert is a technical analysis of its chart, and we are not taking any action at this time.

Must Read: Warren Buffett’s Top 25 Stocks for 2015

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

Gold Trying to Extend Rebound, SPX 500 Indecision Continues – DailyFX

Talking Points:

  • US Dollar Pauses to Digest Losses After Hitting 4-Month Low
  • S&P 500 Signals Indecision at Familiar Range Top Resistance
  • Gold Working to Extend Rebound, Crude Oil Treading Water

Can’t access the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

US DOLLAR TECHNICAL ANALYSIS – Prices remain in digestion mode after prices slid to the four-month low. A daily close below the 61.8% Fibonacci expansion at 11638 exposes the 76.4% level at 11576. Alternatively, a push above the 50% Fib at 11688 opens the door for a challenge of the 38.2% threshold at 11737.

Gold Trying to Extend Rebound, SPX 500 Indecision Continues

Daily Chart – Created Using FXCM Marketscope

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

S&P 500 TECHNICAL ANALYSIS – Prices continue to jostle around in a choppy range, waiting for clear-cut direction cues. A daily close above the 2122.10-25.90 area (April 27 high, 38.2% Fibonacci expansion) exposes the 50% level at 2140.70. Alternatively, a reversal below the 23.6% Fib at 2099.10 targets the 14.6% expansion at 2084.90.

Gold Trying to Extend Rebound, SPX 500 Indecision Continues

Daily Chart – Created Using FXCM Marketscope

GOLD TECHNICAL ANALYSIS – Prices are working on the fifth consecutive day on the upside. A break above the 76.4% Fibonacci expansion at 1231.71 exposes the 100% level at 1250.96. Alternatively, a turn below the 61.8% Fib at 1219.80 targets the 50% expansion at 1210.18.

Gold Trying to Extend Rebound, SPX 500 Indecision Continues

Daily Chart – Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS – Prices are stalling having rebounded from support above the $64.00 figure. A daily close above the 23.6% Fibonacci expansion at 68.23 exposes the May 6 high at 69.60, followed by the 38.2% level at 70.72. Alternatively, a turn below the 14.6% Fib retracement at 66.03 targets the 23.6% threshold at 63.84.

Gold Trying to Extend Rebound, SPX 500 Indecision Continues

Daily Chart – Created Using FXCM Marketscope

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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