Retail Sales Higher Than Expected
STOCK INDEX FUTURES
Retail sales in January increased 3.0% when up 1.7% was expected.
Mortgage applications declined 7.7% in the week ended February 10, according to data from the Mortgage Bankers Association. Applications to refinance a home loan were down by 12.5% and those to purchase a home loan fell 5.5%.
The Empire State manufacturing index for February was -5.8 when -18.5 was anticipated.
The 8:15 central time January industrial production report is predicted to show a 0.5% increase and the 8:15 January capacity utilization report is estimated to be 79.1%.
The 9:00 December business inventories report is expected to show a 0.3% increase and the 9:00 February housing market index is anticipated to be 37.
Despite lower prices today the technical aspects for stock index futures remain supportive.
The U.S. dollar index is higher.
Industrial production in the euro area dropped 1.1% from a month earlier in December 2022, following an upwardly revised 1.4% growth in November and compared with market expectations of a 0.8% decline.
The annual inflation rate in the U.K. fell to 10.1% in January of 2023 from 10.5% in December, which is below economists’ forecasts of 10.3%. Inflation fell for a third consecutive month to the lowest level since September of last year.
INTEREST RATE MARKET FUTURES
The Treasury will auction 20-year bonds today.
Most likely the Federal Open Market Committee will increase its fed funds rate by 25 basis points at its March 22 policy meeting.
The long term outlook for futures is higher.
Interested in more futures markets? Explore our Market Dashboards here.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2021 ADM Investor Services International Limited.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.