$DIA, $SPY, $QQQ, $RUTX, $VXX

The gauge of equities finished flat to unchanged Tuesday, as US Treasury yields moved higher on a stronger-than-anticipated report on US retail sales raised the possibility the Fed might adopt a less Dovish stance.

The S&P 500 lost 0.3% Tuesday, led lower by shares of energy and technology companies, while bank earnings failed to generate much excitement. The DJIA lost 0.1%, and the NAS Comp lost 0.4%. The Russell 2000 finished flat. 

US retail sales rose 0.4% in June, as households stepped up purchases of motor vehicles and a variety of other goods. The solid number comes on the back of recent data showing a strong labor market and a pickup in consumer prices.

The Fed is largely expected to cut rates by a quarter of a percentage point at its 30-31 July policy meeting, expectations for a more aggressive half a percentage point cut have been scaled back.

Tuesday, the major US stock market indexes finished at: DJIA -23.53 at 27335.63, NAS Comp -35.39 at 8222.79, S&P 500 -10.26 at 3004.04

Volume: Trade on the NYSE came in lite again at 680-M/shares exchanged

• NAS Comp +23.9% YTD
• S&P 500 +19.8% YTD
• DJIA +17.2% YTD
• Russell 2000 +15.8% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish in here.

Stay tuned…

  cut, DIA, DJIA, economy, Fed, interest, labor, NYSE, outlook, QQQ, rate, retail, RUTX, sales, SPY, stocks, trade, VXX

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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