| ESZ9 For 11/10/2009  |
How To Use |
| Symbol | R1 | R2 | Pivot | S1 | S2 | |
| ESZ9 | 1099.75 | 1107.75 | 1084.00 | 1076.00 | 1060.25 | |
Daily Pivot-Fed Announcements-Commentary
ICSC-Goldman Store Sales
![[Report]](http://mam.econoday.com/images/mam/byreport_butt_new.gif)
7:45 AM ET
7:45 AM ETRedbook
8:55 AM ET
8:55 AM ETDennis Lockhart Speaks
9:15 AM ET
Janet Yellen Speaks
10:00 AM ET
4-Week Bill Auction
11:30 AM ET
11:30 AM ET10-Yr Note Auction
1:00 PM ET
1:00 PM ETRichard Fisher Speaks
7:30 PM ET
ICSC-Goldman Store Sales |
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| Highlights ICSC-Goldman’s same-store retail index ended six straight weeks of gains, down 0.1 percent in the Nov. 7 week to mask a plus 2.9 percent year-on-year rate that’s the best since August last year. ICSC, which stands for the International Council of Shopping Centers, often conducts special surveys, and their latest indicates that shoppers plan to put off holiday shopping until the Friday after Thanksgiving, which the report said is now being dubbed “Bargain Friday” instead of “Black Friday,” the latter referring to the first day of retailer profitability. The report, as others, expects year-on-year rates to continue to improve as retailers lap comparisons with last year’s deep recession. Redbook will post their results at 8:55 ET. |
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Redbook |
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| Highlights Year-on-year rates are definitely on the increase in the retail sector which is beginning to benefit from easy comparisons against last year’s deep recession. Redbook reports a plus 1.7 percent year-on-year rate in the Nov. 7 week, the best since September last year. ICSC-Goldman, issued earlier this morning, shows the best year-on-year rate since August last year. But what this means for the month-to-month comparison is uncertain. Redbook’s first take on October vs. November is very positive, showing a 4.3 percent gain but one a little weaker than the targeted 4.8 percent gain. Redbook says retailers are promoting hard trying to make each day a “Black Friday” with deep discounts and early holiday displays. |
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Lots of Fed Speak this afternoon as two FOMC give separate speeches this afternoon. Perhaps the market may take some interest in these speeches, though I cannot discern that the market, at this juncture, is paying attention to anything. Also, plenty of sales data, which should give some guidance on how the Christmas shopping season may play out.
We made new yearly highs in several of the stock index contracts yesterday. which I wrote about yesterday afternoon. I would suspect that much of the volatility we experienced earlier in the year may return as the market thrashes about in full bull or bear market rally mode.
