Contact Your Financial Adviser Money Making
MC
21st July 2016
OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU16 -0.08%) are down -0.06% and European stocks are down -0.16% ahead of the results of today's ECB
meeting and press conference from ECB President Draghi. The markets are not
expecting any action from the ECB today, but will scour comments from Draghi as
to if and when the ECB may boost easing measures. Global stocks took a hit
after BOJ Governor Kuroda in a BBC Radio 4 program broadcast dismissed the use
on helicopter money as stimulus. Losses were limited on increased M&A
activity as Joy Global jumped 20% in pre-market trading after it was acquired
by Komatsu for $2.89 billion and Relypsa surged over 50% in pre-market trading
after being acquired by Galencia for $1.53 billion. Asian stocks settled mixed:
Japan +0.77%, Hong Kong +0.54%, China +0.37%, Taiwan +0.54%, Australia +0.43%,
Singapore -0.18%, South Korea -0.09%, India -0.74%. Japan's Nikkei Stock Index had
rallied to a 1-1/2 month high after USD/JPY climbed to a 1-1/2 month high and
lifted exporter stocks along with increased M&A activity after Japan's
Komatsu agreed to buy Joy Global, the world's largest maker of underground
mining equipment, for $2.89 billion.
The dollar index (DXY00 -0.16%) is down -0.18%.
EUR/USD (^EURUSD) is up +0.04%. USD/JPY (^USDJPY) is
down -0.52%.
Sep T-note prices (ZNU16 -0.05%) are down -4.5 ticks. The Total Investment & Insurance Solutions
USD/JPY fell back from a 1-1/2 month high and
turned lower after BOJ Governor Kuroda in a BBC Radio 4 program broadcast said
there was "no need and no possibility of easing monetary policy via
helicopter money," where the central bank directly finances government
spending. Kuroda said "at this moment, the BOJ has three options with
quantitative and qualitative easing with negative interest rates. The Total Investment & Insurance Solutions
Key U.S. news today includes: (1) weekly initial unemployment claims (expected
+11,000 to 265,000, previous unch at 254,000) and continuing claims (expected -9,000 to 2.140 million, previous
+32,000 to 2.149 million), (2) Jul Philadelphia Fed business outlook survey
(expected +0.1 to 4.8, Jun +6.5 to 4.7), (3) Jun Chicago Fed national activity
index (expected +0.31 to -0.20,
May -0.56 to -0.51),
(4) May FHFA house price index (expected +0.4% m/m, Apr +0.2% m/m), (5) Jun
existing home sales (expected -0.9% to 5.48 million, May +1.8% to 5.53
million), (6) Jun leading indicators (expected +0.2%, May -0.2%), (7) Treasury auctions $13
billion of 10-year TIPS, and (8) USDA weekly Export Sales.
There are 34 of the S&P 500 companies that report earnings today
with notable reports including: Visa (consensus $0.67), Starbucks (0.49),
AT&T (0.72), Capital One (1.87), General Motors (1.52), PulteGroup (0.32).
U.S. IPO's scheduled to price today: none.
Equity conferences this week include: none. The Total Investment & Insurance Solutions
Intel (INTC +1.54%) lost 3% in pre-market trading after
it reported Q2 adjusted EPS of 59 cents, higher than consensus of 54 cents, but
said it remains cautious on the PC market and forecasts a high-single-digit PC market
contraction in 2016.
Qualcomm (QCOM +1.23%) jumped nearly 7% in after-hours
trading after it reported Q3 adjusted EPS of $1.16, well above consensus of 97
cents.
eBay (EBAY +1.85%) rallied nearly 6% in after-hours
trading after it reported Q2 adjusted EPS continuing operations of 43 cents,
higher than consensus of 42 cents and then added $2.5 billion to its stock
buyback plan.
Relypsa (RLYP +1.31%) surged over 50% in pre-market trading
after Galencia agreed to buy it for $1.53 billion or $32 a share.
Mattel (MAT +1.42%) rose nearly 4% in after-hours trading
after it reported a Q2 adjusted EPS loss of -2 cents, a smaller loss than consensus
of -5 cents
Joy Global (JOY +1.07%) jumped 20% in pre-market trading
after Komatsu Ltd. agreed to buy the company for $2.89 billion or $28.30 a
share.
United Rentals (URI +2.84%) jumped 9% in after-hours trading
after it reported Q2 adjusted EPS of $2.06, well above consensus of $1.82.
F5 Networks (FFIV +0.72%) climbed 3% in after-hours trading
after it reported Q3 adjusted EPS of $1.81, above consensus of $1.79, and said
it sees Q4 adjusted EPS of $1.92-$1.95, stronger than consensus of $1.92.
Kinder Morgan Inc/DE (KMI +0.68%) slid over 1% in after-hours trading
after it reported Q2 revenue of $3.14 billion, below consensus of $3.41
billion.
Trueblue (TBI +1.23%) gained almost 5% in after-hours
trading after it reported Q2 adjusted EPS of 51 cents, better than consensus of
43 cents, and said it sees Q3 adjusted EPS of 73 cents-78 cents, higher than consensus of 67
cents.
IMAX Corp. (IMAX -0.17%) gained over 4% in after-hours trading
after it reported Q2 adjusted EPS of 18 cents, higher than consensus of 17
cents, and raised its 2016 installation view to 155 theaters from a prior
estimate of 135-140 theaters
PTC Inc. (PTC +1.33%) climbed nearly 4% in after-hours
trading after it reported Q3 adjusted revenue of $289.7 million, above
consensus of $288 million.
Tractor Supply (TSCO +0.16%) slipped 2% in after-hours trading
after it reported Q2 EPS of $1.16 and Q2 revenue of $1.85 billion, both right
on expectations.
Newmont Mining (NEM -5.07%) rose over 2% in
after-hours trading after it reported Q2 sales of $2.04 billion, stronger than
consensus of $1.91 billion. The
Total Investment & Insurance Solutions
Sep E-mini S&Ps (ESU16 -0.08%) this morning are down -1.25 points (-0.06%). Wednesday's closes:
S&P 500 +0.43%, Dow Jones +0.19%, Nasdaq +1.17%. The S&P 500 on
Wednesday rallied to a new record high and closed higher on a positive start to
quarterly company earnings season as 78% of the S&P 500 companies that have
reported earnings results thus far have exceeded expectations. Stocks were also
boosted by strength in technology stocks as bellwether Microsoft soared +7% after
beating quarterly profit estimates. Stock market anxiety also faded as the VIX
volatility index fell to a 1-3/4 year low.
Sep 10-year T-note prices (ZNU16 -0.05%) this morning are down -4.5 ticks. Wednesday's closes: TYU6 -8.00, FVU6 -4.75. Sep T-notes on Wednesday closed lower
on the reduced safe-haven demand with the rally in the S&P 500 to an
all-time high and on carryover weakness from a slide in German bund prices.
The dollar index (DXY00 -0.16%) this morning is down -0.175 (-0.18%). EUR/USD (^EURUSD) is
up +0.0004 (+0.04%) and USD/JPY (^USDJPY) is
down -0.56 (-0.52%). Wednesday's closes: Dollar
index +0.138 (+0.14%), EUR/USD -0.0006 (-0.05%), USD/JPY +0.77 (+0.73%). The
dollar index on Wednesday rallied to a 4-1/4 month high and closed higher on
optimism about the U.S economic outlook after the S&P 500 climbed to a
record high. In addition, USD/JPY rose to a 3-week high as the rally in stocks
reduced the safe-haven demand for the yen.
Sep WTI crude oil prices (CLU16 -0.37%) this morning are up +9 cents (+0.20%)
and Sep gasoline prices (RBU16 +0.15%) are up +0.0122 (+0.89%). Wednesday's
closes: CLU6 +0.21 (+0.46%), RBU6 -0.0143 (-1.03%). Sep crude oil and gasoline
on Wednesday settled mixed. Sep crude oil recovered from a 2-1/4 month low and
closed higher after weekly EIA crude inventories fell -2.34 million bbl, a bigger decline than
expectations of -2.0 million bbl. Crude oil and gasoline
were undercut by the rally in the dollar index to a 4-1/4 month high and by the
unexpected increase in EIA gasoline inventories by +911,000 bbl (vs
expectations of -500,000 bbl). The Total Investment & Insurance Solutions
No comments:
Post a Comment