Daily Futures Commentary April 15, 2009

Wednesday, April 15, 2009

Traders are looking at a slew of economic reports today which will dictate the direction of the markets. Following yesterday’s bearish Retail Sales Report, traders have to brace themselves for the possibility of conflicting data today.

After the strong month long gains in the stock market, many investors thought it would be a given that retail sales would show a gain. Investors felt that the stock market rally would improve investor sentiment and encourage consumer spending. This was not the case, however, as consumers chose instead to curtail spending activity. The trend toward saving may have had something to do with it or just fear of losing one’s job.

Producer Prices also fell indicating that the economy is still slowing down. This conclusion will probably be confirmed by today’s CPI number. A slow down in the economy will most likely keep interest rates low.

The Industrial Production Report will be released today. This report is expected to show that the economy is still slowing down. Factories are being shutdown and jobs are being lost so it will come as a surprise if this report shows …
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