EB Daily Market Report - Thursday, May 15, 2025

Dear Members.

Just a note that there will be no formal DMR today as the EB team will be out of the office all day. Just a few quick notes.

This morning is chock-full of economic reports:

-Initial jobless claims

-Retail Sales

-PPI

-Empire State manufacturing

-Philadelphia Fed

-Industrial Production

--Home builder confidence

On top of all of these important reports, Fed chairman Jerome Powell will be giving a speech starting at 8:40 am est.

All of these reports combined could definitely have an impact on today's trading action, especially with all of the major indexes technically stretched. 

The S&P has reached 5906 the past two sessions so that is a level to watch as a move above would favor the bulls. To the downside let's keep an eye on the 200 day moving average, currently at 5754 as a move below that level could embolden the bears.

Let's also remember that tomorrow is monthly options expiration that currently favors possible selling but also remember that this is only one indicator. Nonetheless, worth considering.

At your service,

John Hopkins