Don’s Notebook May 8, 2018


Don’s Notebook May 8, 2018

Make sure to review overnight comments from Fed Chair Jerome Powell who was speaking  at the Swiss National Bank and International Monetary Fund High Level Conference on the International Monetary System, in Zurich, Switzerland. Chairman Powell said the importance of Fed policy is “often verstated” and that economic growth and changes in commodity prices are also key to global financial conditions.

The National Federation of Independent Business (NFIB) monthly Small Business Optimism Index ticked up by 0.1 point in April to 104.8, roughly in line with the consensus forecast. This reading shows small business owners were clearly still very optimistic about their businesses.

In Overnight Markets:

  • The MSCI Asia Pacific Index rose 0.5 percent.
  • Japan’s Topix index closed 0.4 percent higher, with banks and pharmaceutical firms leading the advance.
  • In Europe, the Stoxx 600 Index was 0.2 percent lower at 5:45 a.m. as investors awaited President Trump’s Iran decision and worries over a new election in Italy weighed on equities.
  • S&P 500 futures pointed to a lower open, the 10-year Treasury yield was at 2.952 percent, and gold dropped.

Earnings Calls for a crowd of companies including: Disney, Endo International, Crocs, Gartner, Jones Lank LaSalle, Perrigo, Valeant Pharmaceuticals International, Hain Celestial Group and Henry Schein Inc.

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Dr. Don Pratl is Director of Trader Development and Education for TradeStation. He joined TradeStation in 2016 after holding similar roles with other online brokerages. Don’s long career in the financial services industry reflects expertise in administering trading and investment strategy programs for retail investors as well as financial services professionals. Since the 1980s, he has held various positions in areas including CBOE trading floor order execution, marketing, sales, personnel management, training and customer service. Don holds series 3, 4, 7 and 63 FINRA licenses, earned his Ph.D. in Organization and Management, and his M.A. and B.A. in Political Science. He has been an occasional adjunct college instructor since 2004 at a range of institutions, teaching undergraduate, graduate and doctoral students using in-class and online formats.