Contact Your Financial
Adviser Money Making MC
9
September 2016
OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU16 -0.30%) are down -0.25% and European stocks are down -0.33% on concern that global central banks
may have lost their desire for further stimulus measures after the ECB on
Thursday refrained from expanding QE. European stocks were also under pressure
on growth concerns in Germany, Europe's largest economy, after German Jul
exports unexpectedly fell by the most in 11 months and Jul imports unexpectedly
declined. Asian stocks settled mostly lower: Japan +0.04%, Hong Kong +0.75%,
China -0.55%, Taiwan -1.06%, Australia -0.86%, Singapore -0.73%, South Korea -1.36%, India -0.85%. South Korea's Kospi Index fell
closed down over 1% after North Korea conducted a nuclear test that South
Korean President Park Geun Hye called an act of "maniacal
recklessness."
The dollar index (DXY00 -0.04%) is up +0.02%. EUR/USD (^EURUSD)
is up +0.03%. USD/JPY (^USDJPY) is up +0.19%.
Dec T-note prices (ZNZ16 -0.10%) are down -3 ticks.
The German Jul trade
balance shrank to a surplus of +19.5 billion euros, narrower than expectations
of +23.7 billion euros and the smallest surplus in 6 months. Jul exports
unexpectedly fell -2.6% m/m, weaker than of +0.4% m/m and the
biggest decline in 11 months. Jul imports unexpectedly fell -0.7%m/m, weaker than expectations of
+0.5% m/m.
China Aug CPI rose +1.3%
y/y, weaker than expectations of +1.7% y/y and the smallest pace of increase 10
months. Aug PPI fell -0.8% y/y, stronger than expectations of -0.9% y/y and the smallest pace of decline
in 4-1/3 years. The Total Investment
& Insurance Solutions
Key U.S. news today
includes: (1) Boston Fed President Eric Rosengren (voter) speaks at the South
Shore Chamber Breakfast, (2) Dallas Fed President Robert Kaplan (non-voter)
takes part in a moderated Q&A session at a Mission Capital conference in
Austin, TX, (3) revised Jul wholesale inventories (expected +0.1% m/m, prelim
Jul unch m/m) and Jul wholesale trade sales (expected +0.2%, Jun +1.9% m/m),
and (4) USDA weekly Export Sales.
Russell 1000 companies
that report earnings today: Kroger (consensus $0.45).
U.S. IPO's scheduled to
price today: none.
Equity conferences today
include: none. The Total Investment
& Insurance Solutions
JPMorgan Chase (JPM +0.13%) was downgraded to 'Neutral'
from 'Outperform' at Macquarie.
Advanced Micro Devices (AMD -9.06%) lost almost 2% in pre-market
trading after pricing a public offering of $600 million worth of common stock.
Harley-Davidson (HOG -0.63%) was rated a new 'Outperform'
at Bernstein with a 12-month target price of $64.
Chesapeake Energy (CHK +13.66%) was upgraded to 'Buy' from
'Hold' at Wunderlich Securities.
El Pollo Loco Holdings (LOCO -1.74%) climbed 6% in after-hours
trading after it was announced that it will replace American Science &
Engineering in the SmallCap 600 Index after the close of trading Monday,
September 12.
Finisar (FNSR -1.78%) jumped over 12% in after-hours
trading after it reported Q1 adjusted EPS of 38 cents, higher than consensus of
30 cents, and then said it sees Q2 adjusted EPS of 44 cents-50 cents, above consensus of 32 cents.
Oclaro (OCLR -1.30%) rose nearly 5% in after-hours
trading after Finisar's Q2 EPS view was well above expectations.
Restoration Hardware
Holdings (RH +1.18%) gained 13% in pre-market
trading after it reported Q2 adjusted EPS of 44 cents, well above consensus of
29 cents.
Zumiez (ZUMZ unch) rallied 5% in after-hours
trading after it reported a Q2 loss of -3 cents a share, better than consensus
for an -8 cent loss, and said it sees Q3 sales
of $209 million-$213 million, above consensus of $206.6 million.
Swift Transportation (SWFT +0.61%) jumped over 6% in after-hours
trading after CEO Jerry Moyes said he will retire effective Dec 31 and current
COO and President Richard Stocking will replace him as CEO.
Williams Cos. (WMB +2.67%) slid 3% in after-hours trading
after Enterprise Products said it is withdrawing interest in a takeover of
Williams. Enterprise Products (EPD +0.52%)
rose nearly 2% in after-hours trading after the statement.
MGM Holdings (MGMB +2.94%) rose nearly 3% in after-hours
trading after it said it still sees adjusted Ebitda margin of 30% this year,
above the 25% from 2015.
Vince Holding (VNCE -3.28%) dropped over 7% in after-hours
trading after it reported Q2 revenue of $60.7 million, below consensus of $64.1
million.
Xactly (XTLY +0.95%) fell over 3% in after-hours
trading after it said it sees Q3 revenue of $23.3 million-$24.1 billion, at the
low end of expectations of $24.0 million.
Lantheus Holdings (LNTH -0.94%) tumbled over 11% in
after-hours trading after it announced a public offering of 5.2 million shares
of common stock. The Total Investment
& Insurance Solutions
Sep E-mini S&Ps (ESU16 -0.30%) this morning are down -5.50 points (-0.25%). Thursday's closes:
S&P 500 -0.22%, Dow Jones -0.25%, Nasdaq-0.58%. The S&P 500
on Thursday closed lower on disappointment that the ECB did not expand stimulus
measures at its policy meeting. Stocks recovered from their worst levels as
energy producer stocks rallied after crude oil surged +4.66% to a 1-week high.
Dec 10-year T-notes (ZNZ16 -0.10%) this morning are down -3 ticks.
Thursday's closes: TYZ6 -20.50,
FVZ6 -11.50. Dec T-notes on Thursday closed lower
on the unexpected drop in U.S. weekly jobless claims to a 7-week low and on
disappointment that the ECB did not expand QE. There were also increased
inflation expectations after the 10-year T-note breakeven inflation rate rose
to a 2-1/2 month high.
The dollar index (DXY00 -0.04%) this morning is up +0.020
(+0.02%). EUR/USD (^EURUSD) is up +0.0003 (+0.03%). USD/JPY (^USDJPY)
is up +0.19 (+0.19%). Thursday's closes: Dollar index +0.071 (+0.07%), EUR/USD
+0.0021 (+0.19%), USD/JPY +0.75 (+0.74%). The dollar index on Thursday
recovered from a 2-week low and closed higher on signs of U.S. labor market
strength that may prompt the Fed to raise interest rates after U.S. weekly
jobless claims unexpectedly fell to a 7-week low. Another hawkish factor for
Fed policy was the increase in the 10-year inflation breakeven rate to a 2-1/2
month high due to the sharp +4.66% rally in oil prices. The dollar was undercut
by the rally in EUR/USD to a 2-week high after the ECB refrained from addtional
stimulus measures at its policy meeting.
Oct crude oil (CLV16 -1.24%) this morning is down -66 cents
(-1.39%) and Oct gasoline (RBV16 -1.98%)
is down -0.0324 (-2.29%). Thursday's closes: CLV6
+2.12 (+4.66%), RBV6 +0.0701 (+5.21%). Oct crude oil and gasoline on Thursday
rallied to 1-week highs and closed sharply higher. Crude oil prices were
boosted by the -14.51 million bbl plunge in EIA crude
inventories to a 6-1/2 month low (the biggest decline since Jan 1999) and the -4.21million bbl decline in EIA
gasoline stockpiles to an 8-1/4 month low, more than expectations of -750,000 bbl.The Total Investment & Insurance Solutions
No comments:
Post a Comment