Goldman Crushes Estimates, Retail Gains, Stocks Higher

  • July 14, 2009
  • David Goodboy

Goldman Sachs posted much better than expected earnings and the retail sales figure hit a 5 month high today. However, this positive news was not enough to lift shares to a strong rally. Worries from the inflation front and higher than expected wholesale prices kept shares relatively flat for most of the day. A late day surge pushed the major indexes into positive territory with the DJIA adding +27.81 to 8359.49, the Nasdaq eased higher by +6.52 to 1799.73 and the S&P 500 advanced +4.78 to 905.84.

Take-Two Interactive
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Interactive Intelligence
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Dell Inc.
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Blue Nile
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Oil fell 17 cents to $59.30, Gold climbed 30 cents to $922.80 and the VIX fell 4.90% to 25.02.

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Market Snapshot

Dow

 +27.81 8359.49

NASDAQ

 +6.52 1799.73

S&P 500

 +4.78 905.84

Economic
News

Treasury Budget (Jun): Consensus: -$77.5B, Prior: $33.5B

Core PPI (Jun): Consensus: 0.1%, Prior: -0.1%

PPI (Jun): Consensus: 0.8%, Prior: 0.2%

Retail Sales (Jun): Consensus: 0.5%, Prior: 0.5%

Retail Sales ex-auto (Jun): Consensus: 0.5%, Prior: 0.5%

Business Inventories (May): Consensus: -1.0%, Prior: -1.1%

Core CPI (Jun): Consensus: 0.1%, Prior: 0.1%

CPI (Jun): Consensus: 0.6%, Prior: 0.1%

Empire Manufacturing (Jul): Consensus: -5.00, Prior: -9.41

Capacity Utilization (Jun): Consensus: 67.9%, Prior: 68.3%

Industrial Production (Jun): Consensus: -0.6%, Prior: -1.1%

Crude Inventories (07/10): Consensus: NA, Prior: -2.90M

Minutes of FOMC Meeting (06/24): Consensus: NA, Prior: NA

Initial Claims (07/11): Consensus: NA, Prior: 565K

Net Long-Term TIC Flows (May): Consensus: NA, Prior: $11.2B

Philadelphia Fed (Jul): Consensus: -5.0, Prior: -2.2

Building Permits (Jun): Consensus: 523K, Prior: 518K

Housing Starts (Jun): Consensus: 530K, Prior: 532K