Stocks Weaker Following Malaysian Plane Crash Near Ukraine/Russia Border Jul 17, 2014 11:29AM

Stocks appear to be selling off follow news a Malaysian plane crashed in Ukraine near the boarder of Russia. There is speculation the Boeing 777 may have been shot down.

The Dow is down 47, the Nasdaq is down 28 and the S&P 500 is down 9.

Stocks Set to Open Sharply Lower on Portugal Woes and High-Profile Profit Warnings Jul 10, 2014 08:38AM

U.S. stocks are taking its cues from the European PIIGS nations again Thursday, which is usually never a good thing. In addition, investors are feeling jittery as a number of high-profile retail and housing-related names issued profit warnings after the close.

Stock futures are sharply lower across the board as bonds in Portugal took a hit after the parent company of Banco Espirito Santo SA (BES) missed debt payments. Shares of BES sank over 15% on the news.

Dow futures are down 147, S&P 500 futures are down 17.50, and Nasdaq Futures are down 37

Meanwhile, in the U.S., earnings season is not starting out well. While only a handful of companies have reported results, only 42% of companies are beating their EPS estimates, according to EPS Insider. Also, a number of high-profile housing and retail-related earnings warnings hit after the close of trading Wednesday, suggesting the consumer is not as strong as most expected:

  • Lumber Liquidators Holdings (NYSE: LL) down 21% after warning for Q2
  • Potbelly (NASDAQ: PBPB) down 18% after warning for Q2
  • Tractor Supply (NASDAQ: TSCO) down 5% after warning for Q2

Dow Moves Above 17,000 Jul 3, 2014 09:59AM

On the back of a strong monthly jobs report, the Dow Jones Industrial Average crossed above 17,000 for the fist time ever. The popular average last traded up 63 points to 17,039. Meanwhile, the broader S&P 500 index is up 5 points to 1,980.

Today, June nonfarm payrolls were reported at 288,000 additions, well ahead of the expected 215,000 job gains. Meanwhile, the unemployment rate declined to 6.1 percent. In addition, April and May employment gains were revised 29,000 higher than previously reported.

Year-to-date leaders in the Dow include, Caterpillar, Inc. (NYSE: CAT) (+22%), Intel (NASDAQ: INTC) (+20%), Merck (NYSE: MRK) (+18%), and Johnson & Johnson (NYSE: JNJ) (+15%).

Dow Trades Above 17,000 Jul 3, 2014 09:31AM

Dow Trades Above 17,000

8 Overnight Headlines and 4 Items for the Day Ahead; Inflation Data in Focus Jun 27, 2014 07:33AM

Market strategists at Nomura, including Pooja Kumr, highlighted the following headlines overnight and said investors should keep an eye on the following three items for the day ahead. The firm notes inflation data is in focus.

  • Euro area: German inflation in the state of Saxony came in at +0.2% m-o-m, 0.9% y-o-y. This figure is in line with market and our expectations for the German CPI which is due to be released at 1pm. Overall, the information available so far from the German state releases is still consistent with upside risk to the German HICP figure. Our forecast is +0.3% m-o-m, 0.9% y-o-y vs consensus of 0.2% m-o-m, 0.7% y-o-y. The preliminary estimate of Spanish inflation was slightly below market expectations, flat on the month and down from 0.2%.
  • UK: The third estimate of Q1 GDP came in at 0.8% (Consensus: 0.8%, Previous: 0.8%).
  • Japan: All-Japan core CPI inflation increased by 3.4% in May, consistent with market expectations.
  • Japan: Real household consumption spending decreased by 8.0% y-o-y in May, much weaker than the consensus expectation of a 2.3% decrease.
  • Japan: The unemployment rate decreased to 3.5% in May from 3.6% in April, the lowest since March 1997.
  • South Korea: The current account surplus rose to USD9.3bn in May from USD7.1bn (Nomura: USD9.0bn).
  • South Korea: Industrial production growth fell to 2.1% y-o-y in May after revised growth of 2.5% in April (Consensus: 1.0%).
  • Thailand: Manufacturing production fell by 4.1% y-o-y in May following a similar drop in April (Consensus: -3.7%; Nomura: -3.3%).

The Day Ahead

  • German Preliminary Inflation: We forecast the preliminary estimate of the German HICP to increase by 0.3% m-o-m in June, consistent with annual inflation of 0.9% (Consensus: 0.7%) and thus increasing from 0.6% in May. For the CPI measure, we forecast a slightly smaller rise of 0.2% m-o-m, with annual inflation of 1.0%, increasing from 0.9% in May.
  • ECB publishes 3yr LTRO repayment amount for following week.
  • German Economy Minister Gabriel and Finance Minister Schäuble speak at German Family Company Federation event in Berlin.
  • US University of Michigan consumer sentiment: Consumer sentiment declined at the start of June as consumers were less optimistic about the economic outlook. Consensus expects a slightly higher index at 82.0 at the end of June from 81.2.

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