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Trade gap narrows

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Today's trade gap numbers slowed to their lowest levels in 19 months, but the narrower trade deficit comes at the expense of a weaker U.S. economy.

The Commerce Department reported that the balance of goods and services of trade stood at a $27.1 billion deficit for the U.S. in August, which was down more than 7% from an upwardly revised $29.2 billion trade gap for July. Imports shrunk to $111.6 billion from July's $112.8 billion, while exports grew in August to $84.5 billion from July's $83.6 billion. Export growth was helped along by a weaker U.S. dollar.

Consumer Price Index rose 0.4%

Today's CPI data shows that the prices consumer's paid for goods and services increased 0.4% in September, while the core rate (excluding food and energy) rose 0.2%. The total increase was a bit larger than expected, but the core rate was in line with many economists' estimates.

Stock futures lower

Stock futures are indicating for a lower. S&P 500 futures are currently trading down 4 points, NASDAQ futures are off 14 points and Dow futures are lower by 28 points. Fair value for the S&P 500 today is $2.38. HL Camp & Company has their computer set for program buying at $3.69 and set for program selling at $0.67. Fair value for the NASDAQ-100 today is $5.20.

Option expiration!

Don't forget to check your account for any stock options that might be expiring today!

Jeff Bailey
Senior Market Technician
Option Investor

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