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 02 October 2009 - BMO |
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U.S. MARKETS RECAP : Thursday, October 01, 2009 AMC  Quote:
Briefing.com - Thursday October 01 2009 @ 16:44 ET AMC
Daily Sector Wrap : Stocks Log Worst Loss in Months Amid Dour Data
A deluge of data and concern regarding tomorrow's jobs report pushed buyers to the sidelines. That left stocks to drop sharply in broad-based fashion, resulting in the stock market's worst single-session percentage loss since July.
The dour mood among participants was evident from the start. Stocks started in the red as the previous session's lackluster finish carried over into morning trade and foreign markets faltered. News that the International Monetary Fund raised its forecast for 2010 global economic growth to 3.1% from 2.5% had no real positive impact.
Though the IMF forecast was widely disregarded, market participants were focused on several other reports, including another disappointing jobless claims tally. Initial claims climbed 17,000 to 551,000, which is a higher count than had been expected. Continuing claims came in at 6.09 million, which is below the consensus estimate and down 70,000 from the previous week, but that is largely due to the expiration of jobless benefits. The ugly claims numbers and the disappointing ADP report on Wednesday serve as salient reminders that the government's nonfarm payrolls report for September could be disappointing. The official payrolls report is due Friday morning.
Personal income and spending for August were up 0.2% and 1.3%, respectively. Both exceeded expectations, while core personal consumption climbed a mere 0.1%, as expected.
The ISM Manufacturing Index for September came in at 52.6, which is below what was expected, but the figure still indicates growth in the manufacturing sector.
Construction spending during August made a surprise 0.8% increase, while pending home sales for August surprised some by increasing 6.4% in August.
Stocks were also dogged by a stronger U.S. dollar, which was helped partly by supportive comments from Fed Chairman Bernanke, who said that there is no immediate risk to the dollar. With the Dollar Index up nearly 0.7%, basic materials stocks and commodities showed weakness for the entire session. Materials stocks finished 3.9%, while the CRB Commodity Index dropped 1.5%.
Financials were the worst performers for the session, though. The sector dropped 4.4%. Banks were some of the worst performers as regional banks dropped 5.5%, diversified financial services fell 5.2%, and diversified banks dropped 5.1%. Bank of America (BAC 16.21, -0.71) was one of the few companies to make headlines this session. The company's Chief Executive, Ken Lewis, announced that he will retire by year's end. No successor has been named, though.
With 95% of the companies listed in the S&P 500 logging losses, many participants pursued Treasuries. That helped send the benchmark 10-year Note more than one full point higher. In turn, its yield fell to fresh multimonth lows below 3.2%.
Trading volume made a considerable pullback from the previous session, now that quarter-end window dressing and portfolio rebalancing has come to an end. Only 1 billion shares traded hands on the NYSE this session.
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None Leading Industries: Distillers & Vintners +2.29%, Drug Retail +1.02% Lagging Sectors: Financials (-4.37%), Tech (-2.87%), Health Care (-1.65%), Consumer Staples (-0.94%), Consumer Discretionary (-2.30%), Industrials (-2.58%), Energy (-2.77%), Telecom (-1.58%), Materials (-3.85%), Utilities (-1.78%) Lagging Industries: Photographic Products -9.18%, Construction Materials -6.70%, Casinos & Gaming -6.54%, Airlines -6.36%, Residential REITs -5.80%, Industrial REITs -5.80%, Office REITs -5.60%, Motorcycle Manufacturers -5.48%, Life & Health Insurance -5.45%, Regional Banks -5.44% NYSE:Higher than avg volume @ 1602 vs. 1230 avg Decliners outpacing Advancers : 502/2516 New highs outpacing new lows : 131/5 NASDAQ:Higher than avg volume @ 2686 vs. 2284 avg Decliners outpacing Advancers : 453/2214 New highs outpacing new lows : 41/15 Other Market Moving Factors:• Deluge of economic data keeps dour mood intact • U.S. dollar advances, helping to send commodities prices lower; stocks hampered by greenback's gains, too Quote:
Briefing.com - Thursday October 01 2009 @ 18:22 ET AMC
After-Hours Report : ACN Down 1.6% Following Q4 Results
A deluge of data and concern regarding tomorrow's jobs report pushed buyers to the sidelines. That left stocks to drop sharply in broad-based fashion, resulting in the stock market's worst single-session percentage loss since July. After the close, Accenture (ACN) reported fourth quarter earnings results in-line with consensus. However, the company issued a negative outlook with downside first quarter revenue guidance as well as fiscal year 2010 earnings and revenue guidance that was below consensus. As a result, the stock is trading 2.3% lower in after hours trading. Also of note, First Solar (FSLR) is trading 4.2% higher after hours after Standard and Poors announced that FSLR will replace Wyeth (WYE) in the S&P 500 on a date to be announced.
All sectors were in negative territory, led by financials (-4.37%), materials (-3.85%), Tech (-2.87%) and energy (-2.77%).
Futures are higher after hours with S&P 500 futures 0.95 points above fair value of 1025.65 and Nasdaq 100 futures 4.13 points above fair value of 1664.87.
Companies trading lower in after hours in reaction to earnings: ACN -1.7%... Companies trading lower in after hours in reaction to news: GRT -12.3% (announces agreement for the sale of its Lloyd Center property has been terminated).
Tomorrow morning, there are four pieces of economic data are scheduled to be released at 8:30 AM ET, including average workweek (consensus is 33.1), hourly earnings (consensus is 0.2%), nonfarm payrolls (consensus is -175K), unemployment rate (consensus is 9.8%).
There are no companies scheduled to report quarterly results ahead of tomorrow morning's opening bell.
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U.S Markets - Friday October 02 2009 - BMO
TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,509.28, -203 (-2.09%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,057.48, -64.94 (-3.06%) S&P 500 INDEX (SPX: CBOE) 1,029.85, -27.23 (-2.58%) __________________________________________ Current MarketsAsian Markets Friday October 02 2009 @ Oct 2 7:21am†: HANG SENG 20,375.49 ( -579.76 -2.77% ) NIKKEI 225 9,731.87 ( -246.77 -2.47% ) KLSE 1,206.25 ( -2.10 -0.17% ) STI 2,604.53 ( -52.91 -1.99% ) Currencies Friday October 02 2009 @ Oct 2 7:21am†: U.S. Dollar vs Euro ( +0.0001 +0.01% ) 1.4542 U.S. Dollar vs Yen ( -0.24 -0.27% ) 0.0112 U.S. Dollar vs UK £ ( -0.01 -0.51% ) 1.59 Treasury Yields :  2 Year Note 0.86% -0.09 • 5 Year Note 2.18% -0.1310 Year Note 3.18% -0.12 • 30 Year Note 3.95% -0.10Gold (CMX ) December 09 ($US per Troy oz.) : 1000.70 ( -8.60) Light Crude (NYM ) November 09 ($US per bbl.) : 70.82 ( +0.21) Earnings Highlights for Friday October 02 2009None. Events for Friday October 02 200908:30 Average Workweek 08:30 Hourly Earnings 08:30 Nonfarm Payrolls 08:30 Unemployment Rate 10:00 Factory Orders ___________________________________________ Summary"Stocks look to jobs report" : http://money.cnn.com/2009/10/02/mark...ion=2009100207Today's job data will be the fuel for the movement today and the next few weeks. Currently futures are negative and i stand with that. Resistance levels @ 9,600 and 9,650 Support levels @ 9,450 and 9,400 Direction for Friday October 02 2009; ∇ Down |
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Post added on October 02,2009 |
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| 01 October 2009 - BMO |
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U.S. MARKETS RECAP : Wednesday, September 30, 2009 AMC  Quote:
Briefing.com - Wednesday September 30 2009 @ 16:33 ET AMC
Daily Sector Wrap : Stocks Falter for Soft September Ending
An early selling effort dropped stocks from an initial gain to a loss of more than 1%, but stocks gradually made their way back to positive ground before falling under a second wave of selling pressure. Although they finished the session with a loss, stocks still logged impressive gains for the month.
Better-than-expected earnings from several companies, including Nike (NKE 64.70, +4.61) and Jabil Circuit (JBL 13.41, +1.13) helped prop up the bias in the broader market this morning. The tone of trade improved further from news that second quarter GDP was revised upward to show an annualized decline of 0.7%, which is better than the 1.2% annualized decline that had been expected.
The GDP headline overshadowed the latest ADP Employment Change Report, which indicated that 254,000 private jobs were lost during September. Since that is worse than the consensus forecast for 200,000 job losses, some wonder whether the government's official nonfarm payrolls report on Friday will be worse than expected.
Despite early signs of strength, stocks reversed direction in the first few minutes of trade. The slide was exacerbated by news that the Chicago PMI reading for September came in at 46.1, below the consensus forecast of 52.0 and down from the previous reading of 50.0.
Within the first hour of trading the S&P 500 saw a modest gain turn into a loss of 1.3%. However, buyers waded back into the action and helped stocks turn their losses into a midday gain. The rally was challenged, though, as the S&P 500 failed to push through its opening highs.
Tech had been a primary source of support for the midsession advance, but renewed selling pressure in the second half of the session left the sector to finish with a mere 0.2% gain. Semiconductor stocks were able to hold on to a near 0.9% gain, however.
Materials stocks had also provided leadership as commodities prices soared. Though the sector faltered and finished with a 0.5% loss, the CRB Commodity Index jumped 2.9% in its best single-session percentage gain in nearly two months.
The CRB's impressive performance came as bullish gasoline inventory data helped underpin a 5.7% gain by crude oil prices, which settled at $70.49 per barrel. Meanwhile, gold prices shot up a strong 1.5% to settle at $1009.50 per ounce.
The strong performance by commodities helped give the CRB Commodity Index a 0.6% gain for September and a 3.8% gain for the third quarter.
Though stocks finished September on a rather dour note, the S&P 500 was still able to book a monthly gain of 2.7% and a quarterly gain of 14.9%, which is the second best quarterly performance for the S&P 500 this decade. The best quarter came in the second quarter of this year, when the stock market advanced 16.7%.
With the end of the quarter at hand, investors and portfolio managers drove trading volume in the NYSE sharply higher as they juggled their portfolios. In turn, nearly 1.8 million shares traded hands on the NYSE. That's the second highest single-session tally this month.
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Tech (+0.19%), Consumer Staples (+0.17%) Leading Industries: Footwear +7.67%, Electronic Manufacturing Services +5.77%, Agricultural Products +3.62%, Internet Retail +1.58%, Health Care Facilities +1.55%, Education Services +1.24%, Distributors +1.22%, Personal Products +1.08%, Semiconductor Equipment +0.97%, Health Care Distributors +0.79% Lagging Sectors: Financials (-0.50%), Health Care (-0.46%), Consumer Discretionary (-0.43%), Industrials (-0.87%), Energy (-0.53%), Telecom (-0.31%), Materials (-0.50%), Utilities (-0.86%) Lagging Industries: Homebuilding -3.54%, Photographic Products -3.43%, Automobile Manufacturers -3.23%, Broadcasting -2.90%, Paper Products -2.87%, Industrial REITs -2.68%, Managed Health Care -2.53%, Office Electronics -2.29%, Advertising -2.15%, Multi-Line Insurance -2.12% NYSE:Higher than avg volume @ 1774 vs. 1226 avg Decliners outpacing Advancers : 1257/1757 New highs outpacing new lows : 206/1 NASDAQ:Higher than avg volume @ 2658 vs. 2277 avg Decliners outpacing Advancers : 996/1704 New highs outpacing new lows : 86/15 Other Market Moving Factors:• Stocks rebuffed after failing to break above morning highs • Latest batch of earnings prove better than expected • ADP Employment Report for September disappoints, but headline number for revised second quarter GDP exceeds expectations • Chicago PMI retreats and misses expectations • End-of-month and end-of-quarter portfolio rebalancing expected Quote:
Briefing.com - Wednesday September 30 2009 @ 18:18 ET AMC
After-Hours Report : BAC Higher After CEO Announced He's Stepping Down
An early selling effort dropped stocks from an initial gain to a loss of more than 1%, but stocks gradually made their way back to positive ground before falling under a second wave of selling pressure. Although they finished the session with a loss, stocks still logged impressive gains for the month. After the close, Bank of America's CEO Ken Lewis announced he is stepping down. In after hours trading and following that news, the stock is trading 1.7% higher.
Eight of the ten sectors were in the red, led by industrials (-0.87%), utilities (-0.86%) and energy (-0.53%). Tech (+0.19%) and consumer staples (+0.17%) were the only two sectors in positive territory.
Futures are lower after hours with S&P 500 futures 0.89 points below fair value of 1052.89 and Nasdaq 100 futures 3.26 points below fair value of 1717.51. Companies trading higher in after hours in reaction to earnings: LWSN +8.8%...
Companies trading higher in after hours in reaction to news: BAC -1.1% (Bank of America confirms that Ken Lewis announces his retirement)... Companies trading lower in after hours in reaction to news: PAG -10.1 (Penske Auto terminates discussions with General Motors to acquire Saturn): UAUA -6.5% (announces plans to offer 19 million shares of common stock, and $175 mln in convertible senior notes due 2029).
Tomorrow morning, there are four pieces of economic data scheduled to be released at 8:30 AM ET, including personal income figures (consensus is 0.1%), personal spending (consensus of 1.1%), initial claims (consensus is 535K) and continuing claims (consensus is 6170).
CRA Intl (CRAI) and Constellation Brands (STZ) are scheduled to announce quarterly results ahead of tomorrow morning's opening bell.
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U.S Markets - Thursday October 01 2009 - BMO
TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,712.28, -29.92 (-0.31%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,122.42, -1.62 (-0.08%) S&P 500 INDEX (SPX: CBOE) 1,057.08, -3.53 (-0.33%) __________________________________________ Current MarketsAsian Markets Thursday October 01 2009 @ Oct 1 8:04am†: HANG SENG 20,955.25 ( -57.92 -0.28% ) NIKKEI 225 9,978.64 ( -154.59 -1.53% ) KLSE 1,208.35 ( +6.27 +0.52% ) STI 2,657.44 ( -15.13 -0.57% ) Currencies Thursday October 01 2009 @ Oct 1 8:04am†: U.S. Dollar vs Euro ( -0.0096 -0.66% ) 1.4541 U.S. Dollar vs Yen ( +0.29 +0.32% ) 0.0111 U.S. Dollar vs UK £ ( 0.00 -0.24% ) 1.60 Treasury Yields :  2 Year Note 0.95% -0.04 • 5 Year Note 2.31% -0.0210 Year Note 3.30% +0.01 • 30 Year Note 4.05% +0.03Gold (CMX ) December 09 ($US per Troy oz.) : 1009.30 ( +14.90) Light Crude (NYM ) November 09 ($US per bbl.) : 70.61 ( +3.90) Earnings Highlights for Thursday October 01 2009STZ , CRAI , GIGM , ACN , CREL , DMAN , GPN , BLUD , RECN , SMSC , TSCM Events for Thursday October 01 200908:30 Personal Income 08:30 Personal Spending 08:30 Initial Claims 08:30 Continuing Claims 10:00 Construction Spending 10:00 ISM Index 10:00 Pending Home Sales 14:00 Auto Sales 14:00 Truck Sales ___________________________________________ Summary"IMF raises global economic forecast" : http://money.cnn.com/2009/10/01/news...ion=2009100104"Stocks brace for new quarter" : http://money.cnn.com/2009/10/01/mark...ion=2009100107Resistance levels @ 9,780 and 9,860 Support levels @ 9,650 and 9,600 Direction for Thursday October 01 2009; ∇ Down |
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Post added on October 01,2009 |
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| 30 September 2009 - BMO |
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[B][CENTER][SIZE="4"]U.S. MARKETS RECAP : Tuesday, September 29, 2009 AMC[/SIZE][/CENTER][/B]
[CENTER][IMG]http://dukealvinlim.com/watimage/2009September/MarketPerfSeptember29.jpg[/IMG][/CENTER] [QUOTE][SIZE="2"]
Briefing.com - Tuesday September 29 2009 @ 16:45 ET AMC
[B][I]Daily Sector Wrap : Lackluster Session Concludes with Modest Losses[/B]
Tuesday's trade concluded in lackluster fashion as an absence of leadership left stocks to drift during the afternoon, unable to reclaim their initial gains. Stocks had started the session in higher ground as a better-than-expected S&P/Case-Shiller Home Price Report for July brought about some modest support. The report's 20-City Composite showed a 13.3% year-over-year decline, which wasn't as bad as the 14.2% decline that was expected. However, the solid state of things quickly became unsettled by news that the September Consumer Confidence Index pulled back to 53.1 from 5.4.5 in August. The dip was unexpected; economists, on average, had been expecting a reading of 57.0. The major indices were unable to fully recover from the flurry of selling that followed the disappointing consumer confidence reading. News that the FDIC will require insured institutions to prepay estimated quarterly risk-based assessments into 2012 seemed to weight on bank stocks, though the announcement was generally expected. Diversified bank stocks fell 1.9%. Consumer finance stocks were hit just as hard. They fell 1.9% amid news that the Fed has approved rules amending the transparency and disclosure of terms in credit card agreements. Bright spots were limited, but shares of Walgreen (WAG 37.35, +3.16) logged their best single-session percentage advance in six months after the company posted better-than-expected quarterly earnings. The drug retailer helped consumer staples stocks stay in the green for the entire session.
[/I][/SIZE][/QUOTE] [B]Market Internals for Tuesday September 29 2009[/B] [B][COLOR="DarkGreen"]Leading Sectors: [/COLOR][/B]Consumer Staples (+0.44%), Consumer Discretionary (+0.48%), Materials (+0.05%), Utilities (+0.17%)
[B][COLOR="DarkGreen"]Leading Industries: [/COLOR][/B]Publishing +7.60%, Consumer Electronics +7.39%, Drug Retail +5.76%, Tires & Rubber +3.39%, Office Electronics +3.12%, Gold +2.48%, Paper Products +2.40%, Apparel, Accessories & Luxury Goods +2.27%, Education Services +2.18%, Oil & Gas Drilling +2.13% [B][COLOR="Red"]Lagging Sectors: [/COLOR][/B]Financials (-0.53%), Tech (-0.69%), Health Care (-0.10%), Industrials (-0.18%), Energy (-0.57%), Telecom (-0.51%)
[B][COLOR="Red"]Lagging Industries: [/COLOR][/B]Diversified REITs -3.76%, Office REITs -2.41%, Multi-Line Insurance -2.06%, Diversified Banks -1.89%, Consumer Finance -1.88%, Residential REITs -1.75%, Semiconductor Equipment -1.49%, Railroads -1.45%, Semiconductors -1.43%, Oil & Gas Refining & Marketing -1.40% [B]NYSE:[/B]
[COLOR="red"][B]Lower[/B][/COLOR] than avg volume @ 1182 vs. 1219 avg
[B][COLOR="red"]Decliners [/COLOR][/B]outpacing Advancers : 1435/1555
New [B][COLOR="green"]highs [/COLOR][/B]outpacing new lows : 206/3 [B]NASDAQ:[/B]
[COLOR="green"][B]Higher[/B][/COLOR] than avg volume @ 3062 vs. 2269 avg
[B][COLOR="red"]Decliners [/COLOR][/B]outpacing Advancers : 1111/1568
New [B][COLOR="green"]highs [/COLOR][/B]outpacing new lows : 103/7 [B]Other Market Moving Factors:[/B]
• Latest batch of earnings prove better than expected
• ADP Employment Report for September disappoints, but headline number for revised second quarter GDP exceeds expectations
• End-of-month and end-of-quarter portfolio rebalancing expected [QUOTE][SIZE="2"]
Briefing.com - Tuesday September 29 2009 @ 19:03 ET AMC
[B][I]After-Hours Report : MU Modestly Lower, While NKE is Up 4.6% Following Earnings[/B] Tuesday's trade concluded in lackluster fashion as an absence of leadership left stocks to drift during the afternoon, unable to reclaim their initial gains. After the close, Micron Technology (MU) and Nike (NKE) reported earnings results. MU reported a $0.09 beat on revenue of $1.3 billion, which declined 10.1% year/year, but was slightly above consensus. The results are creating some volatility in after hours trading, but the stock is only down 0.8%. NKE was another notable name to report tonight. The company beat consensus by $0.07, but revenue fell just short of consensus. First quarter gross margins of 46.2% were well above consensus of 43.8%. Also, worldwide futures orders declined less than the prior quarter's decline (down 6% year/year in the quarter, compared to down 12% year/year in last quarter's results). After hours, NKE is trading 4.6% higher. Six of the ten sectors were in the red, led by tech (-0.69%), energy (-0.57%) and financials (-0.53%). Consumer discretionary (+0.48%), consumer staples (+0.44%), utilities (+0.17%) and materials (+0.05%) are all in positive territory. Futures are lower after hours with S&P 500 futures 1.99 points below fair value of 1716.24 and Nasdaq 100 futures 1.36 points below fair value of 1056.36. Companies trading higher in after hours in reaction to earnings: JBL +7.4%; ZZ +6.4%; NKE +4.3%... Companies trading lower in after hours in reaction to earnings: DRI -6.1%; MU -0.1%. Tomorrow morning, there are two pieces of economic data will be released ahead of the open of the equity markets. First, ADP Employment figures for September are scheduled to be released at 8:15 AM ET, which calls for a consensus of -200K. Second, final GDP figures for Q2 are scheduled to be released at 8:30 AM ET, which currently has a consensus of -1.2%. Actuant (ATU) is scheduled to announce quarterly results ahead of tomorrow morning's opening bell.
[/I][/SIZE][/QUOTE]
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[B][SIZE="4"]U.S Markets - Wednesday September 30 2009 - BMO [/SIZE][/B]
[/CENTER] [B]TECHNICAL UPDATE[/B]
[B]DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,742.20, [COLOR="red"]-47.16 (-0.48%)[/COLOR][/B]
[URL=http://dukealvinlim.com/watimage/2009September/TADOWSeptember29.jpg][IMG]http://dukealvinlim.com/watimage/2009September/TADOWSeptember29s.jpg[/IMG][/URL] [B]NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,124.04, [COLOR="red"]-6.7 (-0.31%)[/COLOR][/B]
[URL=http://dukealvinlim.com/watimage/2009September/TANASDAQSeptember29.jpg][IMG]http://dukealvinlim.com/watimage/2009September/TANASDAQSeptember29s.jpg[/IMG][/URL] [B]S&P 500 INDEX (SPX: CBOE) 1,060.61, [COLOR="red"]-2.37 (-0.22%)[/COLOR][/B]
[URL=http://dukealvinlim.com/watimage/2009September/TAS&PSeptember29.jpg][IMG]http://dukealvinlim.com/watimage/2009September/TAS&PSeptember29s.jpg[/IMG][/URL] __________________________________________ [B]Current Markets[/B] [B]Asian Markets Wednesday September 30 2009 @ Sep 30 8:38am†: [/B]
[B]HANG SENG[/B] 20,955.25 ( [COLOR="red"]-57.92 -0.28% [/COLOR] )
[B]NIKKEI 225[/B] 10,133.23 ( [COLOR="green"]+33.03 +0.33% [/COLOR] )
[B]KLSE [/B] 1,202.08 ( [COLOR="red"]-6.13 -0.51% [/COLOR] )
[B]STI [/B] 2,672.57 ( [COLOR="green"]+9.26 +0.35% [/COLOR] ) [B]Currencies Wednesday September 30 2009 @ Sep 30 8:38am†: [/B]
[B]U.S. Dollar vs Euro[/B] ( [COLOR="green"]+0.0032 +0.22% [/COLOR] ) 1.4614
[B]U.S. Dollar vs Yen[/B] ( [COLOR="red"]-0.37 -0.41% [/COLOR] ) 0.0111
[B]U.S. Dollar vs UK £[/B] ( [COLOR="green"]+0.01 +0.54% [/COLOR] ) 1.60 [B]Treasury Yields : [/B]
[IMG]http://dukealvinlim.com/watimage/2009September/yieldcurveSeptember29.gif[/IMG]
2 Year Note [B]1.02%[/B] [COLOR="green"]+0.05[/COLOR] • 5 Year Note [B]2.36%[/B] [COLOR="green"]+0.03[/COLOR]
10 Year Note [B]3.31%[/B] [COLOR="green"]+0.03[/COLOR] • 30 Year Note [B]4.04%[/B] [COLOR="green"]+0.01[/COLOR] [B]Gold (CMX )[/B] December 09 ($US per Troy oz.) : 1004.20 ( [COLOR="green"]+9.80[/COLOR])
[B]Light Crude (NYM )[/B] November 09 ($US per bbl.) : 66.71 ( [COLOR="red"]-0.13[/COLOR]) [B]Earnings Highlights for Wednesday September 30 2009[/B]
ATU , DMND , LWSN , OHB , XRTX [B]Events for Wednesday September 30 2009[/B]
08:15 ADP Employment
08:30 GDP - Final
09:45 Chicago PMI
10:30 Crude Inventories ___________________________________________
[B]Summary[/B]
"Private sector still losing lots of jobs" : http://money.cnn.com/2009/09/30/news/economy/ADP_employment/index.htm?postversion=2009093008 "Stocks set for early pop" : http://money.cnn.com/2009/09/30/markets/premarkets/index.htm?postversion=2009093008 Got to be an up day as long as Chicago PMI and CIT doesn't ruin it. Resistance levels @ 9,780 and 9,830
Support levels @ 9,700 and 9,630 Direction for Wednesday September 30 2009; [COLOR="green"][B]∆ Up[/B][/COLOR]
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Post added on September 30,2009 |
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| 29 September 2009 - BMO |
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U.S. MARKETS RECAP : Monday, September 28, 2009 AMC
Quote:
Briefing.com - Monday September 28 2009 @ 16:33 ET AMC
Daily Sector Wrap : Broad Rebound Follows Prior Week's Loss
News of renewed merger and acquisition activity didn't bring many participants to the market, but stocks were still able to sport broad-based gains for the entire session and log their best gain in one month.
Stocks were given support in the early going by news that Xerox (XRX 7.68, -1.29) will pay $6.4 billion in cash and stock for Affiliated Computer Systems (ACS 53.86, +6.61), while Abbott Labs (ABT 48.58, +1.12) will pay $6.6 billion in cash for Solvay's drug business.
Though it was overshadowed by the larger deals, American Securities announced it will acquire GenTek (GETI 37.77, +10.77) for $38.00 per share, which represents a near 40% premium over GETI's closing price last Friday.
The supportive role played by Monday morning's M&A news helped stocks to recover from their worst weekly loss since July.
Several sectors had their moments of leadership, but by the end of the session financials logged the best gains. The sector settled with a gain of little more than 3.4%, which marks the sector's best single-session percentage advance in two months. Multiline insurers (+6.0%) underpinned the financial sector's impressive move.
Consumer staples stocks lagged on a relative basis as Dow component Kraft (KFT 26.17, -0.07) showed moderate weakness. Still, the sector netted a gain of 0.5%.
Though stocks traded with broad-based gains, there wasn't much behind them. Trading volume on the NYSE fell to its lowest level in one month, coming in below 1 billion shares.
Despite broad-based buying among equities, Treasuries were still able to advance. As such, the benchmark 10-year Note gained 11 ticks, which sent its yield down to multimonth lows of 3.28%.
The U.S. dollar also showed strength, which drove the Dollar Index to a 0.2% gain. Despite that move, commodities were still able to garner support and send the CRB Commodity Index up 0.6%.
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Leading Sectors: Financials (+3.43%), Tech (+1.73%), Health Care (+1.44%), Consumer Staples (+0.45%), Consumer Discretionary (+2.00%), Industrials (+1.62%), Energy (+1.70%), Telecom (+1.48%), Materials (+2.04%), Utilities (+0.89%)
Leading Industries: Health Care Facilities +7.17%, Diversified REITs +6.04%, Multiline Insurance +5.95%, Broadcasting +5.68%, Life & Health Insurance +5.44%, Retail REITs +5.38%, Industrial REITs +5.34%, Real Estate Services +5.34%, Consumer Electronics +5.04%, Commercial Printing +4.69%
Lagging Sectors: None
Lagging Industries: Office Electronics -14.88%
NYSE:
Lower than avg volume @ 952 vs. 1219 avg
Advancers outpacing Decliners : 2403/618
New highs outpacing new lows : 216/5
NASDAQ:
Lower than avg volume @ 1871 vs. 2249 avg
Advancers outpacing Decliners : 1987/662
New highs outpacing new lows : 99/7
Other Market Moving Factors:
• Overseas trading is mixed
• Economic calendar is generally light
Quote:
Briefing.com - Monday September 28 2009 @ 19:03 ET AMC
After-Hours Report : SQNM Down Approx. 44% on Completion of Investigation
News of renewed merger and acquisition activity didn't bring many participants to the market, but stocks were still able to sport broad-based gains for the entire session and log their best gain in one month. After the close, Sequenom (SQNM) announced completion of its independent investigation, which included comments that the company has terminated the employment of its president and chief executive officer, Harry Stylli, Ph.D. Following the news release, the stock fell ~44% in after hours trading.
All ten sectors were in the green, led by financials (+3.4%), materials (+2.04%) and consumer discretionary (+2.0%).
Futures are mixed after hours with S&P 500 futures 0.81 points above fair value at 1059.50 and Nasdaq 100 futures 0.90 points below fair value at 1722.25.
Companies trading lower in after hours in reaction to news: SQNM -44% (announces completion of independent investigation); SIMG -9.0% (lowers Q3 revs guidance below consensus); USU -1.9% (updates on the status of deployment of the American Centrifuge).
Tomorrow morning, there are two pieces of economic data being released at 9:00 AM ET. First, the Case-Schiller Housing Price Index will be released, which calls for a consensus of -14.20%. At the same time, the consumer confidence figures will be released. Consensus is looking for confidence numbers to be 57.0.
Walgreen (WAG) is scheduled to announce quarterly results ahead of tomorrow morning's opening bell.
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U.S Markets - Tuesday September 29 2009 - BMO
TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,789.36, +124.17 (+1.28%)
NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,130.74, +39.82 (+1.90%)
S&P 500 INDEX (SPX: CBOE) 1,062.98, +18.6 (+1.78%)
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Current Markets
Asian Markets Tuesday September 29 2009 @ Sep 29 7:23am:
HANG SENG 21,013.17 ( +424.76 +2.06% )
NIKKEI 225 10,100.20 ( +90.68 +0.91% )
KLSE 1,208.21 ( +2.26 +0.19% )
STI 2,663.31 ( +34.06 +1.30% )
Currencies Tuesday September 29 2009 @ Sep 29 7:23am:
U.S. Dollar vs Euro ( -0.0049 -0.34% ) 1.4564
U.S. Dollar vs Yen ( +0.13 +0.15% ) 0.0111
U.S. Dollar vs UK £ ( +0.01 +0.59% ) 1.60
Treasury Yields :
2 Year Note 0.97% -0.01 • 5 Year Note 2.33% -0.03
10 Year Note 3.28% -0.04 • 30 Year Note 4.03% -0.06
Gold (CMX ) December 09 ($US per Troy oz.) : 994.10 ( +2.50)
Light Crude (NYM ) November 09 ($US per bbl.) : 66.84 ( +0.82)
Earnings Highlights for Tuesday September 29 2009
GIGM , WAG , THO , MDRX , DRI , JBL , LNDC , MU , NKE , ZZ , WOR
Events for Tuesday September 29 2009
09:00 Case-Shiller Housing Price Index
10:00 Consumer Confidence
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Summary
"Wall Street bonuses poised to rebound" : http://money.cnn.com/2009/09/28/news...ion=2009092816
"The end of the manic depressive market" : http://money.cnn.com/2009/09/28/mark...ion=2009092907
"Stocks seen opening lower" : http://money.cnn.com/2009/09/29/mark...ion=2009092907
Resistance levels @ 9,820 and 9,920
Support levels @ 9,750 and 9,700
Direction for Tuesday September 29 2009; ∆ Up |
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Post added on September 29,2009 |
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| 25 September 2009 - BMO |
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U.S. MARKETS RECAP : Thursday, September 24, 2009 AMC
Quote:
Briefing.com - Thursday September 24 2009 @ 16:29 ET AMC
Daily Sector Wrap : Stocks Start Strong, but Log Second Straight Loss
A better-than-expected batch of jobless claims data positioned stocks for a rebound from the previous session's late sell-off, but a disappointing existing home sales report and a sharp rebound in the dollar combined to renew selling pressure and hand stocks their second straight loss.
Stocks dropped 1% in the previous session, but managed to open with a modest gain amid news that the latest initial jobless claims tally fell to its lowest level in two months by totaling 530,000 in the week ending Sept. 19. Economists, on average, had expected initial claims to total 550,000. Continuing claims were also below expectations. They were predicted to total 6.18 million, but came in at 6.14 million, instead.
Though initial claims and continuing claims remain at uncomfortable levels, their direction encouraged market participants. That is, until the midmorning release of August existing home sales data, which showed that home sales pulled back to an annualized clip of 5.1 million units. The unexpected 2.7% decline marked the first retreat since March.
The disappointing home sales data encouraged sellers to step back into the fold. Weakness among stocks was magnified as the U.S. dollar staged a strong advance, which helped the Dollar Index achieve a gain of little more than 1%. The greenback remains near 2009 lows, but renewed strength cuts into the profits of multinationals that bring their earnings back home.
The dollar's gain this session also weighed heavily on commodities, which left the CRB Commodity Index down just over 2% this session and down more than 3% week-to-date. Gold prices weighed heavily on the CRB; they closed 1.6% lower at $998.30 per ounce after closing above $1,000 in each of the previous six sessions. Oil was a primary drag on the CRB as crude contracts closed with prices down 4.4% at $65.93 per barrel. Natural gas prices closed 2.6% higher at $3.96 per contract following an in-line inventory report, however.
Overall weakness among commodities and stiff selling in the broader equity market weighed heavily on materials stocks. The sector dropped 2.0%, more than any other major sector.
Financials also fared poorly. They dropped 1.8%, as a group. REITs reversed a recent hot streak as investors took profits following a couple of poor IPO turnouts.
Despite this session's broad-based selling effort, blue chips were able to contain losses. That helped the Dow hold up better than the other headline indices.
Defensive-oriented stocks also held up relatively well. As such, utilities and telecom finished just 0.1% lower. Health care fell 0.3%.
Treasuries had a strong showing. The benchmark 10-year Note closed roughly 12 ticks higher, which lowered its yield to 3.37%. Treasuries were supported by weakness among stocks and solid results from a 7-year Treasury Note auction, which produced a bid-to-cover ratio of 2.8 and a high yield of 3.05%.
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Leading Sectors: None
Leading Industries: Household Products +0.69%, Automotive Retail +0.64%, Systems Software +0.60%, Restaurants +0.41%, Hypermarkets & Super Centers +0.31%, Biotechnology +0.29%, Multi-Utilities +0.24%, Hotels, Resorts & Cruise Lines +0.23%, Consumer Finance +0.23%, Integrated Telecommunication Services +0.13%
Lagging Sectors: Financials (-1.78%), Tech (-0.64%), Health Care (-0.32%), Consumer Staples (-0.44%), Consumer Discretionary (-0.91%), Industrials (-1.43%), Energy (-1.34%), Telecom (-0.14%), Materials (-2.00%), Utilities (-0.12%)
Lagging Industries: Industrial REITs -8.48%, Health Care Facilities -5.47%, Publishing -4.89%, Consumer Electronics -4.58%, Paper Products -4.55%, Forest Products -4.53%, Aluminum -4.46%, Retail REITs -4.33%, Trucking -4.22%, Diversified Metals & Mining -4.21%
NYSE:
Higher than avg volume @ 1368 vs. 1223 avg
Decliners outpacing Advancers : 714/2306
New highs outpacing new lows : 175/5
NASDAQ:
Higher than avg volume @ 2589 vs. 2243 avg
Decliners outpacing Advancers : 645/2018
New highs outpacing new lows : 47/7
Other Market Moving Factors:
• Weekly jobless claims slip unexpectedly to two-month low
• August existing home sales data disappoints
• Resuts from auction of 7-year Treasuries come in solid
• Global leaders assemble for G-20 meeting
Quote:
Briefing.com - Thursday September 24 2009 @ 18:22 ET AMC
After-Hours Report : RIMM Down 11% Following Q2 Earnings and Guidance
A better-than-expected batch of jobless claims data positioned stocks for a rebound from the previous session's late sell-off, but a disappointing existing home sales report and a sharp rebound in the dollar combined to renew selling pressure and hand stocks their second straight loss. After the close, Research in Motion (RIMM) reported second quarter earnings above consensus, and mixed financial guidance. Second quarter gross margins were 44.1% vs. 43.6% consensus. However, following the earnings report, RIMM was 11% lower in after hours trading. In addition, Hewlett-Packard (HPQ) reported in-line fiscal year 2010 earnings and revenue guidance. The stock is not reacting much to the guidance and is around 1% lower after hours.
All ten sectors were in the red, led by materials (-2.0%), financial (-1.8%) and industrials (-1.4%).
Futures are lower after hours with S&P 500 futures 1.71 points below fair value at 1044.6 and Nasdaq 100 futures 12.07 points below fair value at 1696.25.
Companies trading higher in after hours in reaction to earnings: TIBX +7.1%... Companies trading lower in after hours in reaction to earnings: RIMM -12.0%... Companies trading lower in after hours in reaction to news: HPQ -1.0% (guides FY10 EPS and revs in-line).below fair value at 1722.
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U.S Markets - Friday September 25 2009 - BMO
TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,707.44, -41.11 (-0.42%)
NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,107.61, -23.81 (-1.12%)
S&P 500 INDEX (SPX: CBOE) 1,050.78, -10.09 (-0.95%)
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Current Markets
Asian Markets Friday September 25 2009 @ Sep 25 7:17am:
HANG SENG 21,024.40 ( -26.33 -0.13% )
NIKKEI 225 10,265.98 ( -278.24 -2.64% )
KLSE 1,217.39 ( -0.67 -0.06% )
STI 2,662.82 ( -4.61 -0.17% )
Currencies Friday September 25 2009 @ Sep 25 7:17am:
U.S. Dollar vs Euro ( +0.0028 +0.19% ) 1.4689
U.S. Dollar vs Yen ( -1.04 -1.14% ) 0.0111
U.S. Dollar vs UK £ ( 0.00 -0.27% ) 1.60
Treasury Yields :
2 Year Note 0.93% -0.03 • 5 Year Note 2.37% 0.00
10 Year Note 3.38% -0.03 • 30 Year Note 4.17% -0.02
Gold (CMX ) December 09 ($US per Troy oz.) : 998.90 ( -15.50)
Light Crude (NYM ) November 09 ($US per bbl.) : 65.89 ( -3.08)
Earnings Highlights for Friday September 25 2009
AZZ , KBH
Events for Friday September 25 2009
08:30 Durable Orders
08:30 Durables, ex Transporation
09:55 Mich Sentiment-Rev
10:00 New Home Sales
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Summary
"Unilever To Buy Sara Lee's Personal Care Unit For EUR1.28 Billion" : http://money.cnn.com/news/newsfeeds/...5_FORTUNE5.htm
"Bank bailout problem: No easy answers" : http://money.cnn.com/2009/09/25/news...ion=2009092503
"Stocks set for lackluster start" : http://money.cnn.com/2009/09/25/mark...ion=2009092506
Resistance levels @ 9,800 and 9,860
Support levels @ 9,660 and 9,600
Direction for Friday September 25 2009; ∇ Down |
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Post added on September 25,2009 |
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| 22 September 2009 - BMO |
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U.S. MARKETS RECAP : Monday, September 21, 2009 AMC  Quote:
Briefing.com - Monday September 21 2009 @ 16:28 ET AMC
Daily Sector Wrap : Indices Finish Mixed Despite Broad Weakness
The Nasdaq logged a modest gain as biotech stocks advanced in the face of broader market selling pressure, which kept the Dow and S&P 500 in the red for the entire session.
Coming off of a gain of more than 2% last week, participants moved against stocks in broad fashion. Of the 10 major sectors in the S&P 500, health care was the only one to sport a steady gain for the vast majority of the session. It finished 0.7% higher as biotechs climbed 2.4%.
Biotechs were also primary leaders in the Nasdaq Composite and the Nasdaq 100, where large-cap technology typically determines the direction of trade. Tech stocks finished fractionally higher, but Dell (DELL 16.01, -0.68) was dropped for a sizable loss. It announced that it will acquire Perot Systems (PER 29.56, +11.65) for $3.9 billion, or $30 per share in cash, which represents a near 70% premium to the closing price of PER last Friday.
This session's losses were steepest among financials, energy stocks, and materials stocks. All three shed 0.9%. Financials fell as consumer finance stocks (-2.5%) and life and health insurers (-2.1%) faltered, but energy and materials stocks were pressured by falling natural resource prices.
Oil futures prices dropped 3.2% to $69.71 per barrel, while natural gas fell 5.4% to $3.57 per contract. Gold prices finished 0.5% lower at $1004.90 per ounce, while silver prices settled 1.1% lower at $16.88 per ounce. Their collective weakness took the CRB Commodity Index down 2.2%, which is its worst single-session percentage loss in more than one month.
A rebounding U.S. dollar, which lifted the Dollar Index to a 0.5% gain, only emboldened the desire of participants to dump commodities.
For the fifth consecutive month, the Leading Indicators Index posted positive growth. However, the 0.6% increase for August was slightly less than the 0.7% increase that was widely expected and was also down from the upwardly revised 0.9% increase that was registered in July. There wasn't much importance placed on the report since it has done a poor job in past recessionary cycles of predicting the shape of economic recovery.
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Tech (+0.04%), Health Care (+0.65%)Tech (+0.04%), Health Care (+0.65%) Leading Industries: Education Services +8.24%, Health Care Facilities +4.28%, Distributors +3.56%, Electronic Manufacturing Services +3.09%, Multi-Line Insurance +2.65%, Biotechnology +2.36%, Hypermarkets & Super Centers +1.63%, Electronic Equipment & Instruments +1.45%, Home Furnishing Retail +1.29%, Industrial Conglomerates +1.14% Lagging Sectors: Financials (-0.91%), Consumer Staples (-0.14%), Consumer Discretionary (-0.55%), Industrials (-0.52%), Energy (-0.90%), Telecom (-0.58%), Materials (-0.87%), Utilities (-0.42%)Financials (-0.91%), Consumer Staples (-0.14%), Consumer Discretionary (-0.55%), Industrials (-0.52%), Energy (-0.90%), Telecom (-0.58%), Materials (-0.87%), Utilities (-0.42%) Lagging Industries: Auto Parts & Equipment -4.20%, Office REITs -3.39%, Building Products -3.33%, Photographic Products -3.29%, Retail REITs -3.01%, Forest Products -2.87%, Industrial REITs -2.64%, Consumer Finance -2.49%, Commercial Printing -2.21%, Life & Health Insurance -2.13% NYSE:Lower than avg volume @ 1186 vs. 1219 avg Decliners outpacing Advancers : 1013/1997 New highs outpacing new lows : 178/0 NASDAQ:Higher than avg volume @ 2396 vs. 2205 avg Decliners outpacing Advancers : 1243/1430 New highs outpacing new lows : 108/3 Other Market Moving Factors:• Dell to acquire Perot Systems for nearly $4 billion • Leading Indicators for August increase, but not as much as expected or as much as the previous month Quote:
Briefing.com - Monday September 21 2009 @ 18:22 ET AMC
After-Hours Report : AMR Down 7% After Hours on Notes Offering
The Nasdaq logged a modest gain as biotech stocks advanced in the face of broader market selling pressure, which kept the Dow and S&P 500 in the red for the entire session.
Eight of the ten sectors were in the red, led by financials (-0.91%), energy (-0.9%) and materials (-0.9%). The healthcare sector (+0.7%) and the tech sector +0.04%) were the only sectors in positive territory.
Futures are lower after hours with S&P 500 futures 0.39 points below fair value at 1059.7 and Nasdaq 100 futures 2.7 points below fair value at 1730.2.
After Hours Summary: Companies trading lower in after hours in reaction to news: AMR -7.0% (announces 30 mln common share and $250 mln of convertible senior notes offering ); LPX -3.7% (files 18 mln share common stock offering; disclosed Q3 guidance for each of operating segments).
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U.S Markets - Tuesday September 22 2009 - BMO
TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,778.86, -41.34 (-0.42%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,138.04, +5.18 (+0.24%) S&P 500 INDEX (SPX: CBOE) 1,064.66, -3.64 (-0.34%) __________________________________________ Current MarketsAsian Markets Tuesday September 22 2009 @ Sep 22 6:14am†: HANG SENG 21,701.14 ( +228.29 +1.06% ) NIKKEI 225 10,370.54 ( +0.00 +0.00% ) KLSE 1,168.01 ( -3.27 -0.28% ) STI 2,569.93 ( -26.46 -1.02% ) Currencies Tuesday September 22 2009 @ Sep 22 6:14am†: U.S. Dollar vs Euro ( +0.0116 +0.79% ) 1.4794 U.S. Dollar vs Yen ( -0.58 -0.63% ) 0.0109 U.S. Dollar vs UK £ ( +0.01 +0.71% ) 1.63 Treasury Yields :  2 Year Note 0.98% -0.02 • 5 Year Note 2.45% 0.0010 Year Note 3.48% +0.01 • 30 Year Note 4.23% +0.02Gold (CMX ) December 09 ($US per Troy oz.) : 1004.90 ( -5.40) Light Crude (NYM ) October 09 ($US per bbl.) : 69.71 ( -2.33) Earnings Highlights for Tuesday September 22 2009KMX , CCL , CAG , FDS , RAIL , GIGM , PRGS , AIR , FUL Events for Tuesday September 22 200910:00 FHFA US Housing Price Index ___________________________________________ Summary"Bank of America pays $425M to end U.S. guarantee" : http://money.cnn.com/2009/09/21/news...ion=2009092119"Stocks poised for strong start" : http://money.cnn.com/2009/09/22/mark...ion=2009092205Not much data but futures are strong following a European rally. I believe we might just end slightly in the red at 9,740 before the FOMC Rate Decision tomorrow. Resistance levels @ 9,860 and 9,960 Support levels @ 9,740 and 9,680 Direction for Tuesday September 22 2009; ∇ Downside Consolidation |
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Post added on September 22,2009 |
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| 18 September 2009 - BMO |
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U.S. MARKETS RECAP : Thursday, September 17, 2009 AMC
Quote:
Briefing.com - Thursday September 17 2009 @ 16:49 ET AMC
Daily Sector Wrap : Stocks Slip as Participants Sell the News
Participants sold the news of a better-than-expected batch of economic reports and handed stocks their first loss in four sessions. Losses were rather contained, though, as stocks are still up more than 2% week-to-date.
Despite stumbling a bit in the moments following the opening bell, stocks looked as if they were going to extend their recent gains. That is until the Philadelphia Fed Index for September showed that it hit a two-year high of 14.1, which was better than expected. Rather than provide fodder for further buying, the data prompted selling pressure as participants looked to lock in profits after they had watched stocks advance in eight of the previous nine sessions.
The better-than-expected Philly Fed Index complemented several other upbeat economic reports, including housing starts and building permits data for August. Housing starts hit an annualized rate of 598,000, which was spot on with the consensus forecast. More impressive was that the August rate marked the best pace since November 2008. Building permits came in at an annualized rate of 579,000, which is just below the rate of 583,000 that was widely expected, but it still marked the best pace this year.
In other economic news, initial jobless claims for the week ending Sept. 12 totaled 545,000. Though that marks an uncomfortable level of claims, it wasn\\\'t as bad as the 557,000 initial claims that were expected. It also marked a drop of 12,000 from the previous week. Meanwhile, continuing claims climbed to 6.23 million from 6.10 million, even in the face of expiring jobless benefits. According to a Reuters report, Nobel Prize-winning economist Paul Krugman said that unemployment in the U.S. will peak in early 2011 because of a slow and painful recovery from the global economic crisis.
With most participants partial to selling, the stock market wasn\\\'t able to sustain a couple of bounces in the first half of the session. In turn, stocks spent the second half of the session chopping along in negative territory.
There wasn\\\'t a single major sector that was able to post a gain. Telecom fell 1.3% to log the weakest performance for the second straight session. Health care finished flat; it was the best performing sector.
Tech giant Oracle (ORCL 21.52, -0.61) was among the most active names by trading volume this session. The company posted in-line earnings results and issued an in-line earnings forecast last evening. However, shareholders were displeased with the company\\\'s top line since it suggested that demand remains relatively weak.
Global delivery outfit FedEx (FDX 76.46, -1.74) was also out with its latest earnings results, but the numbers didn\\\'t cause any surprise since the company had already made an announcement last week.
Overall trading volume came on the NYSE came in near 1.5 billion shares for the third straight session. The high volume comes ahead of tomorrow\\\'s quadruple witching and quarterly S&P rebalance. Those events could induce added volatility.
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Leading Sectors: Health Care (+0.00%)
Leading Industries: Oil & Gas Refining & Marketing +5.49%, Consumer Electronics +4.36%, Education Services +2.52%, Office Services & Supplies +2.24%, Other Diversified Financial Services +1.84%, Aerospace & Defense +1.60%, Footwear +1.59%, Steel +1.43%, Construction & Farm Machinery & Heavy Trucks +1.25%, Leisure Products +1.18%
Lagging Sectors: Financials (-0.37%), Tech (-0.22%), Consumer Staples (-0.04%), Consumer Discretionary (-0.38%), Industrials (-0.16%), Energy (-0.62%), Telecom (-1.32%), Materials (-0.48%), Utilities (-0.57%)
Lagging Industries: Photographic Products -11.23%, Paper Products -3.49%, Homebuilding -3.46%, Automobile Manufacturers -3.22%, Industrial REITs -3.20%, Health Care Facilities -3.19%, Forest Products -2.96%, Publishing -2.93%, Aluminum -2.90%, Coal & Consumable Fuels -2.80%
NYSE:
Higher than avg volume @ 1515 vs. 1209 avg
Decliners outpacing Advancers : 1338/1704
New highs outpacing new lows : 316/2
NASDAQ:
Higher than avg volume @ 2612 vs. 2166 avg
Decliners outpacing Advancers : 1324/1366
New highs outpacing new lows : 150/5
Other Market Moving Factors:
• Oracle posts in-line earnings and issues in-line outlook, while FedEx reaffirms quarterly earnings and forecast
• Housing starts for August meet expectations, while latest weekly jobless claims are lower than expected and continuing claims are higher than expected
Quote:
Briefing.com - Thursday September 17 2009 @ 17:50 ET AMC
After-Hours Report : PALM Almost 4% Lower Following Q1 Earnings Results
Participants sold the news of a better-than-expected batch of economic reports and handed stocks their first loss in four sessions. Losses were rather contained, though, as stocks are still up more than 2% week-to-date. After the close, Palm (PALM) reported first quarter loss of $0.10 per share, which was $0.15 better than the consensus of a loss of $0.25. The company also issued downside second quarter revenue guidance well below consensus, but slightly upside FY10 revenue guidance.
Nine of the ten sectors were in the red, led by telecom (-1.3%), energy (-0.6%) and utilities (-0.6%). The healthcare sector ended the day flat.
Futures are higher after hours with S&P 500 futures at 1062.7, above fair value of 1060.92 and Nasdaq 100 futures at 1720, above the fair value of 1719.69.
Companies trading lower in after hours in reaction to earnings: PALM -3.7%... Companies trading higher in after hours in reaction to news: ARNA +33.6% (announcing conf call to discuss top-line results from BLOSSOM (Behavioral modification and LOrcaserin Second Study for Obesity Management).
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U.S Markets - Friday September 18 2009 - BMO
TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,783.92, -7.79 (-0.08%)
NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,126.75, -6.4 (-0.30%)
S&P 500 INDEX (SPX: CBOE) 1,065.49, -3.27 (-0.31%)
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Current Markets
Asian Markets Friday September 18 2009 @ Sep 18 6:56am:
HANG SENG 21,623.45 ( -145.06 -0.67% )
NIKKEI 225 10,370.54 ( -73.26 -0.70% )
KLSE 1,221.20 ( +2.40 +0.20% )
STI 2,647.91 ( -24.69 -0.92% )
Currencies Friday September 18 2009 @ Sep 18 6:56am:
U.S. Dollar vs Euro ( -0.0033 -0.22% ) 1.4709
U.S. Dollar vs Yen ( +0.18 +0.20% ) 0.011
U.S. Dollar vs UK £ ( -0.01 -0.51% ) 1.64
Treasury Yields :
2 Year Note 0.93% -0.05 • 5 Year Note 2.36% -0.08
10 Year Note 3.39% -0.07 • 30 Year Note 4.17% -0.08
Gold (CMX ) December 09 ($US per Troy oz.) : 1013.50 ( -6.70)
Light Crude (NYM ) October 09 ($US per bbl.) : 72.47 ( -0.04)
Earnings Highlights for Friday September 18 2009
FMCN
Events for Friday September 18 2009
None.
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Summary
"US regulators propose ban on \\\'flash\\\' trading" : http://money.cnn.com/news/newsfeeds/...8_N1778693.htm
"House to vote on extending unemployment benefits" : http://money.cnn.com/2009/09/17/news...ion=2009091718
"Americans are $2 trillion wealthier" : http://money.cnn.com/2009/09/17/news...ion=2009091715
"Stocks poised for quiet start" : http://money.cnn.com/2009/09/18/mark...ion=2009091806
Resistance levels @ 9,850 and 9,940
Support levels @ 9,745 and 9,630
Direction for Friday September 18 2009; ∇ Down |
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Post added on September 18,2009 |
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| 17 September 2009 - BMO |
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U.S. MARKETS RECAP : Wednesday, September 16, 2009 AMC  Quote:
Briefing.com - Wednesday September 16 2009 @ 16:46 ET AMC
Daily Sector Wrap : Stocks Reach New Highs for 2009
Continued buying helped the stock market march higher for the third straight session. More impressive was that steady momentum helped stocks close the session at new highs for the year.
The latest leg of the stock market's run came with broad-based support and gave the S&P 500 its best single-session gain in nearly one month.
Strength was most pronounced in the financial sector, which settled 3.4% higher. Multiline insurers (+5.9%), diversified banks (+3.1%), and regional banks (+4.9%) were the sector's standouts. Several widely-held financial companies attempted to win support for their shares by expressing expectations for their business and the financial industry at professional conferences.
Despite the impressive closing prices, stocks actually slipped in the first few minutes of trading. However, buyers quickly stepped in as stocks hit the unchanged mark after retreating from opening levels.
Initial gains were helped along by rallying overseas markets, which helped the Dow Jones World Index, excluding the U.S., advance 2.0%, its best single-session percentage advance in more than one month. The upbeat tone was kept intact by some generally solid economic reports, including an August Consumer Price Index that showed a 0.4% month-over-month increase, which was a tad higher than the expected 0.3% increase. Core consumer prices for August increased 0.1% month-over-month, but that was spot on with the consensus forecast. CPI data for August was much more tame than the August PPI data that were released yesterday. Meanwhile, industrial production for August climbed 0.8%, which exceeded the 0.6% increase that had been widely expected. Capacity utilization for August came in at 69.6%, which was slightly above the 69.0% that was widely expected.
Participants showed continued favor for commodities, which helped the CRB Commodity Index advance 1.8% as gold prices settled 1.4% higher at $1020.20 per ounce and silver prices climbed 2.5% to a new 12-month high of $17.43 per ounce. Oil prices jumped 2.2% to $72.51 per barrel. Not to be outdone, natural gas prices settled 12.2% higher at $3.77 per contract. Natural gas prices are now up more than 55% from the 7-year lows that were set earlier this month.
Adobe (ADBE 33.35, -2.27) was one of the few companies to recently announce quarterly earnings results. The company posted better-than-expected third quarter earnings of $0.35 per share and issued in-line guidance for the fourth quarter, calling for earnings from $0.33 to $0.39 per share. The company announced that it will acquire Omniture (OMTR 21.88 +4.56) for $21.50 per share in cash, which values the deal at $1.8 billion. Though participants pushed against shares of ADBE, large-cap tech still gained 1.4%, based on the Nasdaq 100.
In the face of strong buying in stocks and commodities Treasuries managed to limit losses. The benchmark 10-year Note finished a modest four ticks lower. It had spent part of the session in positive territory.
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Financials (+3.39%), Tech (+0.98%), Health Care (+0.61%), Consumer Staples (+0.65%), Consumer Discretionary (+1.92%), Industrials (+1.58%), Energy (+2.25%), Materials (+1.37%), Utilities (+1.51%) Leading Industries: , Internet Retail7.83%, Construction Materials7.65%, Commercial Printing6.45%, Diversified REITs6.24%, Housewares & Specialties6.14%, Multi-Line Insurance5.87%, Residential REITs5.81%, Industrial REITs5.35%, Office REITs5.31%, Homebuilding5.28% Lagging Sectors: Telecom (-0.77%) Lagging Industries: Casinos & Gaming-2.42%, Application Software-1.64%, Railroads-1.27%, Tires & Rubber-1.10%, Integrated Telecommunication Services-0.84%, Automobile Manufacturers-0.69%, Systems Software-0.52%, Brewers-0.51%, Fertilizers & Agricultural Chemicals-0.43%, Semiconductors-0.38% NYSE:Higher than avg volume @ 1582 vs. 1205 avg Advancers outpacing Decliners : 2543/513 New highs outpacing new lows : 386/3 NASDAQ:Higher than avg volume @ 2723 vs. 2163 avg Advancers outpacing Decliners : 1899/792 New highs outpacing new lows : 147/4 Other Market Moving Factors:• Foreign markets make strong, broad bounce • CPI data produces little surprise and industrial production shows stronger-than-expected increase, but second quarter current account deficit is deeper than expected • Financial firms continue presentations • Commodities keep climbing Quote:
Briefing.com - Wednesday September 16 2009 @ 17:50 ET AMC
After-Hours Report : ORCL Trades Lower Following Q1 Earnings
Continued buying helped the stock market march higher for the third straight session. More impressive was that steady momentum helped stocks close the session at new highs for the year. After the close today, Oracle (ORCL) reported first quarter earnings in-line with consensus, while revenue fell 5.2% year/year to $5.05 billion. On its conference call, the company issues second quarter earnings of $0.35 to $0.36 per share and revenue of -1% to +2%, which calculates to approximately $5.55 billion to $5.72 billion vs. the $5.72 billion consensus.
Nine of the ten sectors were higher, led by financial (+3.4%), energy (+2.3%) and consumer discretionary (+1.9%). The telecom sector(-0.77%) was the only sector in negative territory.
Futures are lower after hours with S&P 500 futures at 1063.5, below fair value and Nasdaq 100 futures at 1717, below the fair value of 1722.37.
Companies trading lower in after hours in reaction to earnings: ORCL -4.1%... Companies trading lower in after hours in reaction to news: EK -3.4% (Co reaffirms that GAAP results will be at the low end of previously forecasted 2009 GAAP loss from continuing operations of $200-400 million); SHO -3.2% (Co provides quarterly update; says quarter-to-date total RevPAR was down 19.9% y/y).
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U.S Markets - Thursday September 17 2009 - BMO
TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,791.71, +108.3 (+1.12%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,133.15, +30.51 (+1.45%) S&P 500 INDEX (SPX: CBOE) 1,068.76, +16.13 (+1.53%) __________________________________________ Current MarketsAsian Markets Thursday September 17 2009 @ Sep 17 7:13am: HANG SENG 21,768.51 ( +365.59 +1.71% ) NIKKEI 225 10,443.80 ( +173.03 +1.68% ) KLSE 1,218.80 ( +5.82 +0.48% ) STI 2,672.60 ( -1.82 -0.07% ) Currencies Thursday September 17 2009 @ Sep 17 7:13am: U.S. Dollar vs Euro ( +0.0013 +0.09% ) 1.4719 U.S. Dollar vs Yen ( +0.34 +0.37% ) 0.011 U.S. Dollar vs UK £ ( +0.01 +0.32% ) 1.65 Treasury Yields :  2 Year Note 0.98% +0.05 • 5 Year Note 2.44% +0.0510 Year Note 3.46% +0.01 • 30 Year Note 4.25% -0.01Gold (CMX ) December 09 ($US per Troy oz.) : 1020.20 ( +13.90) Light Crude (NYM ) October 09 ($US per bbl.) : 72.51 ( +1.58) Earnings Highlights for Thursday September 17 2009DFS , FDX , RAIL , MCS , PIR , SMTS , IHS , PALM , TSCM Events for Thursday September 17 200908:30 Building Permits 08:30 Housing Starts 08:30 Initial Claims 08:30 Continuing Claims 10:00 Philadelphia Fed ___________________________________________ Summary"Skype founders sue eBay, investors" : http://money.cnn.com/news/newsfeeds/..._N16138610.htm"Oracle sales stumble 7%" : http://money.cnn.com/2009/09/16/tech...ion=2009091706"China still likes us ... for now" : http://money.cnn.com/2009/09/16/mark...ion=2009091613"Stocks poised for cautious start" : http://money.cnn.com/2009/09/17/mark...ion=2009091707We'll likely hover around yesterday's close. Resistance levels @ 9,940 and 10,000 Support levels @ 9,620 and 9,500 Direction for Thursday September 17 2009; ∆ Upside Consolidation |
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| 14 September 2009 - BMO |
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U.S. MARKETS RECAP : Monday 07 September to Friday 11 September 2009  Quote:
Originally Posted by Briefing.com
Friday 11 September 2009 @ 16:50 ET AMC
Weekly Wrap:
Market participants drove the S&P 500 up 2.6% during the holiday shortened week, with gains seen on three of the four sessions, and the benchmark index hitting fresh highs for 2009. The advance came despite a relatively slow week, with only a handful of earnings and economic reports. Investors showed increased risk appetite, with cyclical and small cap stocks leading the way.
Buying interest was broad-based, with nine of the ten sectors posting gains. Cyclical sectors rose the most, with industrials (+4.2%) and energy (+4.3%) both logging more than 4% gains. Defensive sectors underperformed on a relative basis, with utilities shedding 0.3%.
In economic news, weekly jobless claims fell to 26,000 to 550,000, topping the the 560,000 consensus. Although the beat was welcome, the claims still remain at elevated levels and will result in the unemployment rate ticking upward. Continuing claims declined 159,000 to 6.088 million. The consensus expected continuing claims to decline a more modest 34,000. But the drop in continuing claims is not due to a decrease in jobless workers -- rather workers are running out of unemployment benefits.
The Fed's Beige Book, a collection of anecdotal economic data from the Fed districts, continued to show that the rate of economic decline is slowing, with manufacturing showing improvement. But areas such as employment, consumer spending, and construction remain weak.
In corporate news, Kraft (KFT) offered to buy London-based Cadbury (CBY) for $16.7 bln, which Cadbury subsequently rejected. Shares of Kraft fell 7.1% on the week, as traders speculated the company would raise its offer.
Texas Instruments (TXN) raised its Q3 outlook, though the news had a limited impact on shares. TXN said it now expects EPS between $0.37-0.41, versus its previous forecast of $0.29-0.39. The updated guidance tops the $0.35 consensus.
FedEx (FDX) issued upside earnings guidance for its fiscal first quarter, saying that strict cost management and better-than-expected volume in international shipments helped its performance. FedEx said it sees fiscal first quarter earnings of $0.58, well ahead of the $0.44 First Call consensus and up from the company's prior guidance of $0.30 to $0.45. FDX rose 9.1% for the week.
In other news, Treasury Secretary Geithner aided stocks during his testimony before congress. He said that policymakers are in a position to evolve their strategy with the goal of repairing and rebuilding the economy's foundation for future growth. Geithner also said that it is unlikely more bank bailout money will be needed, so its contingency provision can be removed from the budget.
In commodity trading, commodities saw a busy weak. Oil rallied on news that OPEC is keeping its output unchanged, IEA raised its demand forecast and weekly inventories showed an unexpected decline. Crude settled the week up only +1.8%, however, after giving up more than 3% on Friday. Meanwhile gold settled at $1006.70, crossing the $1000 mark for the first time since February.
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U.S. MARKETS RECAP : Friday 11 September 2009  Quote:
Originally Posted by Briefing.com
Friday 11 September 2009 @ 16:38 ET AMC
Daily Sector Wrap : Stocks Slip, but Still Log Weekly Gain
Though stocks slipped for their first time in six sessions to finish the week in unimpressive fashion, stocks were still able to log their best weekly gain since July by advancing 2.6% in this holiday-shortened week of trade.
Stocks initially looked as if they would extend recent gains as they made their way to new intraday highs for 2009, but the largely listless trade in the early going made for choppy trade, which then invoked moderate selling pressure.
An upbeat forecast from global shipment company FedEx (FDX 77.32, +4.66) did provide support for the industrial sector, which finished 0.4% higher as the best performing major sector, but its impact on the broader market was rather limited. Upbeat forecasts from Campbell Soup (CPB 33.13, +0.01) and National Semiconductor (NSM 15.03, -0.94) also did little to lift the mood of participants in the broader market.
Several pieces of data were out this session, starting with the Import Price Index for August. According to the report, last month's import prices were down a steeper-than-expected 2.0% month-over-month. Meanwhile, wholesale inventories for July fell 1.4%, which was a bit worse than had been expected. The University of Michigan released a stronger-than-expected preliminary consumer sentiment survey for September that came in at 70.2. However, the report is not well correlated with consumer spending, so it did little to support shares of retailers, which underperformed for the entire session and finished 0.8% lower.
Last on the day's economic calendar was the Treasury's August budget, which showed a smaller-than-expected $111.4 billion deficit. Stocks didn't show much of a reaction to the data, but Treasuries eventually came under pressure after the report's release. The benchmark 10-year Note had been performing well for the entire session and even made its way to its best levels since mid-July, but it finished the session flat.
Gold was one of the strongest standouts this session. The yellow metal climbed all the way to $1013.70 per ounce before settling at an all-time closing high of $1006.20 per ounce, up 0.9% on the session.
Oil was less fortunate. It showed promise in early pit trade, but encountered resistance as it approached the $73 per barrel level and closed the session with a 3.8% loss at $69.22 per barrel.
Despite oil's reversal, the energy sector was able to eke out a fractional gain. Schlumberger (SLB 60.39, +1.96) was a leader in the sector amid reports from Dow Jones that analysts at Goldman Sachs upgraded the oil equipment outfit.
Financials finished as the worst performing sector. They dropped 0.8% amid weakness in diversified banks (-1.0%) and diversified financial services companies (-1.6%).
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Consumer Staples (+0.23%), Industrials (+0.44%), Energy (+0.03%), Telecom (+0.28%) Leading Industries: Air Freight & Logistics +4.59%, Construction Materials +4.07%, Oil & Gas Equipment & Services +2.44%, Health Care Technology +2.23%, Office Services & Supplies +2.01%, Oil & Gas Storage & Transportation +1.79%, Electronic Equipment & Instruments +1.76%, Casinos & Gaming +1.62%, Soft Drinks +1.56%, Diversified Metals & Mining +1.55% Lagging Sectors: Financials (-0.82%), Tech (-0.14%), Health Care (-0.06%), Consumer Discretionary (-0.45%), Materials (-0.17%), Utilities (-0.36%) Lagging Industries: Computer & Electronics Retail -2.86%, Automotive Retail -2.18%, Office Electronics -2.14%, Home Furnishings -1.84%, Home Furnishing Retail -1.84%, Metal & Glass Containers -1.84%, Education Services -1.77%, Semiconductors -1.61%, Broadcasting -1.59%, Asset Management & Custody Banks -1.58% NYSE:Higher than avg volume @ 1294 vs. 1195 avg Advancers outpacing Decliners : 1674/1336 New highs outpacing new lows : 178/3 NASDAQ:Higher than avg volume @ 2319 vs. 2136 avg Decliners outpacing Advancers : 1088/1578 New highs outpacing new lows : 102/1 Other Market Moving Factors:• Import price data for August shows sharper monthly increase than expected • Wholesale inventories slip more than expected in July • Consumer confidence survey for September shows stronger than expected increase • August Treasury budget shows shallower shortfall than expected _______________________________________
PREVIEW FOR 14 September to 18 September, 2009
EARNINGS VIEW FOR WEEK OF 14 September to 18 September, 2009Monday:SCMR , FMCN , PLL Tuesday:BBY , CBRL , RAIL , GIGM , KR , ADBE , CGA Wednesday:ZLC , APOG , CTAS , CKR , CLC , DBRN , DDMX , MLHR , ORCL , OHB Thursday:CCL , DFS , FDX , MCS , PIR , SMTS , CMTL , IHS , PALM , PSEM , TSCM Friday:None. ___________________________________________ ECONOMIC VIEW FOR WEEK OF 14 September to 18 September, 2009Events for Monday 14 SeptemberNone. Events for Tuesday 15 September08:30 Core PPI 08:30 PPI 08:30 Retail Sales 08:30 Retail Sales ex-auto 08:30 Empire Manufacturing 10:00 Business Inventories Events for Wednesday 16 September08:30 Core CPI 08:30 CPI 09:00 Net Long-term TIC Flows 09:15 Capacity Utilization 09:15 Industrial Production 10:30 Crude Inventories Events for Thursday 17 September08:30 Building Permits 08:30 Housing Starts 08:30 Initial Claims 08:30 Continuing Claims 10:00 Philadelphia Fed Events for Friday 18 SeptemberNone. ___________________________________________ TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,605.41, -22.07 (-0.23%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,080.90, -3.12 (-0.15%) S&P 500 INDEX (SPX: CBOE) 1,042.73, -1.41 (-0.14%) __________________________________________ Current MarketsAsian Markets Monday September 14 2009 @ Sep 14 7:34am: HANG SENG 20,932.20 ( -229.22 -1.08% ) NIKKEI 225 10,202.06 ( -242.27 -2.32% ) KLSE 1,203.36 ( -4.92 -0.41% ) STI 2,639.74 ( -41.29 -1.54% ) Currencies Monday September 14 2009 @ Sep 14 7:34am: U.S. Dollar vs Euro ( -0.0049 -0.34% ) 1.4549 U.S. Dollar vs Yen ( +0.44 +0.49% ) 0.011 U.S. Dollar vs UK £ ( -0.01 -0.84% ) 1.65 Treasury Yields :  2 Year Note 0.90% +0.02 • 5 Year Note 2.30% +0.0210 Year Note 3.35% 0.00 • 30 Year Note 4.18% -0.01Gold (CMX ) December 09 ($US per Troy oz.) : 1006.40 ( +9.60) Light Crude (NYM ) October 09 ($US per bbl.) : 69.29 ( -2.65) ___________________________________________ Summary"Big week ahead on Wall Street" : http://money.cnn.com/2009/09/12/mark...ion=2009091316"Stocks set for grouchy start" : http://money.cnn.com/2009/09/14/mark...ion=2009091406The Dow Jones Index hit its resistance at 9,600 and couldn't push much further resulting in a doji on an uptrend. Will it head back down after hitting this resistance or burst through it? Given the huge rally from March i would like to say with quite a out there that it is about time we take a step back. Afterall after this resistance the next major would most likely be around 10,340. September 14..... day before Lehman crash would there be anything on today? Resistance levels @ 9,790 and 10,000 Support levels @ 9,550 and 9,430 Direction for Monday 14 September 2009; ∇ DownDirection for the week Monday 14 September to Friday 18 September, 2009; ∇ Down |
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| 09 September 2009 - BMO |
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U.S. MARKETS RECAP : Tuesday, September 08, 2009 AMC
Quote:
Briefing.com - Tuesday September 08 2009 @ 16:39 ET AMC
Daily Sector Wrap : Broad Buying Effort Buoys Stocks and Commodities
Thanks to broad-based buying, the S&P 500 made solid gains in its first trading session of the week, but the broad market benchmark encountered resistance as it approached last week's highs. Still, stocks settled near their best levels of the session.
Energy stocks and materials stocks led gains for the entire session. They settled 2.6% and 1.5% higher, respectively. Their gains were largely underpinned by strong moves among basic commodities and natural resources as the International Monetary Fund fed economic hopes by saying that the global recovery may begin early next year, sooner than it had previously expected. Commodity prices were also helped by a weaker U.S. dollar, which fell 1.0% against a basket of major foreign currencies to hit an 11-month low after the U.N. said that the greenback should be replaced by a new global reserve currency.
The confluence of positive factors drove gold prices to fresh 18-month highs above $1,008 per ounce, but prices eventually reversed course to settle with a fractional gain at $999.50 per ounce. Oil prices made one of their best single-session percentage gains in more than one month by jumping 3.1% to $71.19 per barrel. That move came ahead of tomorrow's OPEC meeting.
Though energy and materials stocks performed well throughout the session, the broader market fell into a few fits of choppy trading. The more dramatic moves to the downside came as stocks approached last week's highs. However, buyers did show some resolve by bidding stocks back toward session highs ahead of the closing bell.
Health care was the only sector unable to participate in the day's gains. The sector settled 0.4% lower amid ongoing health care reform efforts, including a public option, which New York Times reported is being weighed by the White House. Separate articles suggested nonprofit cooperatives could be proposed as a compromise. Both types of plans have already been part of the contentious debate regarding plans to provide affordable health care to Americans.
There weren't any widely-held companies out with their latest earnings results this morning, so corporate headlines were dominated by news that Cadbury PLC (CBY 51.88, +14.42) refused a $16.7 billion merger offer from Dow component Kraft (KFT 26.45, -1.65). Investors responded by handing shares of CBY one of their best single-session percentage advances on record, while sending KFT markedly lower.
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Market Internals for Tuesday September 08 2009
Leading Sectors: Financials (+0.62%), Tech (+0.74%), Consumer Staples (+0.84%), Consumer Discretionary (+1.01%), Industrials (+1.26%), Energy (+2.58%), Telecom (+0.86%), Materials (+1.49%), Utilities (+0.11%)
Leading Industries: Motorcycle Manufacturers +7.41%, Building Products +5.59%, Retail REITs +5.39%, Coal & Consumable Fuels +5.14%, Office REITs +4.72%, Diversified REITs +4.29%, Photographic Products +4.15%, Construction Materials +4.12%, Multi-Sector Holdings +3.92%, Residential REITs +3.84%
Lagging Sectors: Health Care (-0.36%)
Lagging Industries: Publishing & Printing -4.57%, Managed Health Care -3.17%, Real Estate Services -2.29%, Automobile Manufacturers -1.75%, Forest Products -1.22%, Health Care Services -1.21%, Gold -1.15%, Health Care Equipment -1.01%
NYSE:
Higher than avg volume @ 1317 vs. 1189 avg
Advancers outpacing Decliners : 2280/746
New highs outpacing new lows : 175/1
NASDAQ:
Lower than avg volume @ 2032 vs. 2111 avg
Advancers outpacing Decliners : 1606/1017
New highs outpacing new lows : 74/4
Other Market Moving Factors:
• Cadbury refuses Kraft
• Overseas markets extend recent gains amid IMF calls that global recession could end in the beginning of 2010 and G-20's call for more bank capital
• Gold prices race past $1,000 per ounce as UN calls for dollar's replacement as global reserve currency
Quote:
Briefing.com - Tuesday September 08 2009 @ Updated: 08-Sep-09 17:05 ET AMC
After-Hours Report : Casey's Earnings Come Up Big
Thanks to broad-based buying, the S&P 500 made solid gains in its first trading session of the week, but the broad market benchmark encountered resistance as it approached last week's highs. Still, stocks settled near their best levels of the session.
The session's positive tone carried nine of the 10 major sectors in the S&P 500 to higher ground. Energy stocks (+2.6%) and materials stocks (+1.5%) were the best performers. Health care stocks made up the only sector that failed to participate in the advance; as a group, health care fell 0.4%.
A relatively neutral tone is indicated in after-hours trading. As such, S&P 500 futures, which currently trade at 1023.80, are less than two points behind fair value. Nasdaq 100 futures, which currently trade at 1653.25, trail fair value by just over one point.
Casey's General (CASY) posted this evening first quarter earnings of $0.87 per share, which is $0.27 better than the consensus estimate of $0.60 per share. Its revenues were down 24% year-over-year to $1.19 billion, but that was in step with expectations. Pep Boys (PBY) also reported its latest quarterly results. The company brought in second quarter earnings of $0.15 per share, which is $0.01 better than the consensus of $0.14 per share. The company's revenues fell 2% from the same period last year and came in at $488.9 million, which was a bit below the $502.5 million in sales that was widely expected. Shares of CASY are up more than 8% to $30.52 per share in after-hours trading, while shares of PBY are down more than 5% to $9.55 per share after the closing bell.
There are only a handful of companies slated to report their latest earnings results Wednesday morning. There aren't any market-movers in the bunch, though.
Economic data is also sparse. The Fed's Beige Book is the only item expected to make headlines.
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U.S Markets - Wednesday September 09 2009 - BMO
TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,497.34, +56.07 (+0.59%)
NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,037.77, +18.99 (+0.94%)
S&P 500 INDEX (SPX: CBOE) 1,025.39, +8.99 (+0.88%)
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Current Markets
Asian Markets Wednesday September 09 2009 @ Sep 9 6:55am:
HANG SENG 20,851.04 ( -218.77 -1.04% )
NIKKEI 225 10,312.14 ( -81.09 -0.78% )
KLSE 1,196.46 ( -5.61 -0.47% )
STI 2,650.48 ( -10.43 -0.39% )
Currencies Wednesday September 09 2009 @ Sep 9 6:55am:
U.S. Dollar vs Euro ( -0.0002 -0.01% ) 1.4491
U.S. Dollar vs Yen ( +0.25 +0.27% ) 0.0108
U.S. Dollar vs UK £ ( 0.00 -0.05% ) 1.65
Treasury Yields :
2 Year Note 0.94% +0.01 • 5 Year Note 2.39% +0.04
10 Year Note 3.48% +0.04 • 30 Year Note 4.31% +0.05
Gold (CMX ) December 09 ($US per Troy oz.) : 999.80 ( +3.10)
Light Crude (NYM ) October 09 ($US per bbl.) : 71.10 ( +3.08)
Earnings Highlights for Wednesday September 09 2009
HITK , LRN , KFY , OHB , TLB , TITN , UNFI , GCOM , MW , NAV , NCS , SHFL , SWHC , STEI
Events for Wednesday September 09 2009
14:00 Fed's Beige Book
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Summary
"Consumers won't bail out economy" : http://money.cnn.com/2009/09/08/news...ion=2009090820
"Stocks poised for a flat open" : http://money.cnn.com/2009/09/09/mark...ion=2009090907
Resistance levels @ 9,540 and 9,600
Support levels @ 9,440 and 9,400
Direction for Wednesday September 09 2009; ∇ Down
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