|
|
 Home > Archive Posts |
|
Results 10 - 20
|
|
Latest posts |
|
|
 08 September 2009 - BMO |
| |
U.S. MARKETS RECAP : Monday 31 August to Friday 04 September 2009  Quote:
Originally Posted by Briefing.com
Friday 04 September 2009 @ 16:13 ET AMC
Weekly Wrap:
Just a few weeks ago, with U.S. equity markets in the middle of their most recent upturn, market sentiment was so high that investors ignored poor economic data, only focusing on positive numbers. That trend seemed to go out the window Tuesday as the major indices sold off sharply following a batch of better-than-expected data, but then rebounded ahead of and following poor employment data Friday.
In the end, the major indices closed the week with declines ranging from -0.5% to -1.6%. Nine of the ten sectors that make up the S&P 500 fell, led by Financials (-3.59%). Consumer Staples was the only sector in the black (+0.56%).
Following modest declines on Monday, presaged by a 6.7% plunge in China's Shanghai Composite on continued liquidity concerns, the major indices began the month of September, historically the worst for stocks, slightly higher. At 10:00ET economic data showed that ISM Manufacturing returned to the expansion stage -- which Chicago PMI had done the day before -- with a better-than-expected reading of 52.9 in August (consensus 50.5). Pending Home Sales also came in positive for a sixth consecutive month, rising 3.2% in July (consensus 1.5%).
The market, however, failed to react strongly (unlike prior weeks), and that led to selling pressure as the non-response was interpreted as a confirmation that the good news was already priced into the market and was viewed as another sign of the rally being exhausted. The S&P dropped 20 points between 10:30ET and 11:30ET, closing with a decline of 2.2%.
The Financial sector saw the most severe declines Tuesday, causing some to make the point that the selling was the byproduct of rumors that a negative development in the banking sector was about to be announced. Heavy put buying in Wells Fargo (WFC) on rumors of a dilutive secondary offering made the rounds, but they proved untrue as the company came out just before the close to announce it intended to repay the TARP funds it borrowed without raising equity.
After some consolidative trade over most of the next two sessions -- which included investors shrugging off Initial Claims and ADP data ahead of Friday's employment report -- the major indices staged a late recovery on Thursday as investors covered their short positions in front of the August employment report.
The data in the employment report was les than desirable, as a weaker-than-expected unemployment rate of 9.7% (consensus 9.5%) and downward revisions for nonfarm payrolls in June and July more than offset a slightly better-than-expected number in August nonfarm payrolls (-216,000 vs. the -230,000 consensus).
Despite the otherwise bad news, the market trended higher Friday and logged a gain of 1.3%. Perhaps investors have already reverted back to focusing on only the positive aspects of economic data, namely the upward trend in nonfarm payrolls (August brought the smallest job loss since August 2008), but it's difficult to say when taking into account that trading volume was remarkably light Friday ahead of the Labor Day weekend.
Things may clear up during the coming week's holiday-shortened activity, although there is very little on the economic calendar other than the Federal Reserve's Beige Book on Wednesday, Sept. 9, and the weekly Initial Claims data on Thursday, Sept. 10.
Treasury auctions may return to the forefront. After $38 billion in 3-year Notes on Tuesday, Sept. 8, there is a $20 billion 10-year Note offering reopening on Wednesday and a $12 billion 30-year Bond offering reopening on Thursday.
|
U.S. MARKETS RECAP : Friday 04 September 2009  Quote:
Originally Posted by Briefing.com
Friday 04 September 2009 @ 16:31 ET AMC
Daily Sector Wrap : Strong Session Despite Weak Jobs Data
Buyers continued to push stocks higher in the face of some rather ugly unemployment headlines as strong momentum from the previous session and pent up buying fed a positive bias.
The latest jobs report showed that 216,000 nonfarm payrolls were slashed in August. That marked the lowest job loss tally in one year and wasn't as bad as the 230,000 job losses that economists had come to expect, but the difficulty of finding a job sent the unemployment rate to a 25-year high of 9.7% from 9.4%. The consensus estimate had been pegged at 9.5%.
Though stocks struggled a bit to set forth on a clear trajectory in the minutes following the report, they benefited from some residual buying interest stemming from the previous session's late squeeze higher. Given that stocks had lost roughly 2.5% in the four sessions leading up to Friday's trade, participants also felt compelled to chase the gains registered in recent weeks.
This session's buying effort came on light trading volume, but that was generally expected going into Memorial Day weekend. Still, a lack of participation is often associated with a lack of conviction among broader-market participants, even though low-volume trade has been a hallmark of the stock market's summer rally. Hardly 1 billion shares traded hands on the NYSE this session, below the 50-day moving average of 1.2 billion shares.
Nonetheless, this session's gains were broad-based as roughly 85% of the companies in the S&P 500 settled with a gain. Seven of the 10 major sectors in the S&P 500 posted gains between 1.3% and 2.0%. Financials (+0.8%), consumer staples (+0.7%), and utilities (+0.3%) were relative laggards.
Stocks did stall as the S&P 500 ran into some near-term resistance. They then spent the afternoon drifting sideways before making a final upward push to close at the top end of the 1014 to 1016 zone.
Steady strength among stocks put Treasuries under pressure. That left the benchmark 10-year Note to drop 25 ticks, which put its yield back above 3.4%.
Gold prices also lost favor among investors, even though the U.S. dollar declined 0.3% against a basket of major foreign currencies. Gold prices settled this session fractionally lower at $996.70 per ounce after making their way to six-month highs and flirting with the $1,000 mark in the previous session.
|
Financials (+0.83%), Tech (+1.68%), Health Care (+1.26%), Consumer Staples (+0.71%), Consumer Discretionary (+1.46%), Industrials (+1.99%), Energy (+1.52%), Telecom (+1.56%), Materials (+1.41%), Utilities (+0.34%) Leading Industries: Health Care Facilities +7.13%, Wireless Telecommunications Services +5.02%, Cable & Satellite +4.46%, Real Estate Services +3.46%, Casinos & Gaming +3.43%, Broadcasting +3.21%, Agricultural Products +3.18%, Electronic Manufacturing Services +3.11%, Motorcycle Manufacturers +2.96%, Coal & Consumable Fuels +2.92% Lagging Sectors: None Lagging Industries: Specialized Consumer Services -2.30% NYSE:Lower than avg volume @ 920 vs. 1187 avg Advancers outpacing Decliners : 2411/601 New highs outpacing new lows : 118/1 NASDAQ:Lower than avg volume @ 1708 vs. 2144 avg Advancers outpacing Decliners : 1982/677 New highs outpacing new lows : 31/5 Other Market Moving Factors:• Upward momentum from previous session helps prop up bias in the broader market • August nonfarm payrolls report met with initial knee-jerk selling effort, but buyers step in _______________________________________
PREVIEW FOR 07 September to 11 September, 2009
EARNINGS VIEW FOR WEEK OF 07 September to 11 September, 2009Monday:None. Tuesday:CHP , RAIL , GIGM , SFD , AVAV , CASY , FLOW , FCEL , MIND , PBY , SB Wednesday:HITK , LRN , KFY , OHB , TLB , TITN , UNFI , ZLC , GCOM , MW , NAV , NCS , SHFL , SWHC , STEI Thursday:LULU , MDZ , SCMR , FMCN , NSM , PSEM , TSCM Friday:ACET , BRC , CPB ___________________________________________ ECONOMIC VIEW FOR WEEK OF 07 September to 11 September, 2009Events for Monday 07 SeptemberEvents for Tuesday 08 September14:00 Consumer Credit Events for Wednesday 09 September10:30 Crude Inventories 14:00 Fed's Beige Book Events for Thursday 10 September08:30 Initial Claims 08:30 Continuing Claims 08:30 Trade Balance Events for Friday 11 September08:30 Export Prices ex-ag. 08:30 Import Prices ex-oil 09:55 Mich Sentiment-Prel 10:00 Wholesale Inventories 14:00 Treasury Budget ___________________________________________ TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,441.27, +96.66 (+1.02%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,018.78, +35.58 (+1.79%) S&P 500 INDEX (SPX: CBOE) 1,016.40, +13.16 (+1.31%) __________________________________________ Current MarketsAsian Markets Tuesday September 08 2009 @ Sep 8 6:37am: HANG SENG 21,069.81 ( +440.50 +2.14% ) NIKKEI 225 10,393.23 ( +72.29 +0.70% ) KLSE 1,202.07 ( +11.68 +0.98% ) STI 2,660.91 ( +16.96 +0.64% ) Currencies Tuesday September 08 2009 @ Sep 8 6:37am: U.S. Dollar vs Euro ( +0.0138 +0.96% ) 1.4476 U.S. Dollar vs Yen ( -0.82 -0.88% ) 0.0108 U.S. Dollar vs UK £ ( +0.02 +1.30% ) 1.66 Treasury Yields :  2 Year Note 0.93% +0.02 • 5 Year Note 2.35% +0.0510 Year Note 3.44% +0.10 • 30 Year Note 4.26% +0.10Gold (CMX ) December 09 ($US per Troy oz.) : 996.70 ( -1.00) Light Crude (NYM ) October 09 ($US per bbl.) : 68.02 ( +0.06) ___________________________________________ Summary"Gold tops $1,000 as investors seek safety" : http://money.cnn.com/2009/09/08/mark...ion=2009090804"Stocks set for post-holiday bounce" : http://money.cnn.com/2009/09/08/mark...ion=2009090807"It's September. The real test for stocks begins" : http://money.cnn.com/2009/09/06/mark...ion=2009090717Resistance levels @ 9,480 and 9,540 Support levels @ 9,380 and 9,320 Direction for Tuesday 08 September 2009; ∆ UpDirection for the week Monday 07 September to Friday 11 September, 2009; ∇ Down |
| |
Post added on September 08,2009 |
|
|
| 02 September 2009 - BMO |
| |
U.S. MARKETS RECAP : Tuesday, September 01, 2009 AMC
Quote:
Briefing.com - Tuesday September 01 2009 @ 16:56 ET AMC
Daily Sector Wrap : Stocks Slump as Participants Sell the News
The belief that stocks are overbought and that they already reflect positive economic data prompted participants to make a concerted and broad-based push against stocks. That made for an ominous start to September as nearly 95% of the companies in the S&P 500 logged losses this session. Such weakness seemed fitting, though, since September has historically been a weak month for stocks.
Buying interest in the early going helped stocks make a solid bounce ahead of the latest batch of economic data, which featured an ISM Manufacturing Index for August that came in 52.9. Not only was that better than the 50.5 that was expected, but it marked the first time the reading topped 50 since January 2008. A near 10% increase to 64.9 in new orders also proved pleasing to prognosticators.
Pending home sales for July climbed 3.2% to top the 1.5% increase that was widely expected and mark the sixth consecutive month-over-month increase for the tally.
The upbeat reports seemed to support news from The Wall Street Journal that said the International Monetary Fund (IMF) expects the global economy to expand by slightly less than 3% in 2010. The IMF had forecast in July that the global economy would grow by 2.5% during 2010.
Construction spending in July slipped 0.2% month-over-month, which was below the consensus call for 0% growth, but the report didn't receive much attention.
Despite the overall quality of the economic releases, participants quickly turned sides and moved to sell stocks following the data's release. The market's inability to hold the initial gains in the wake of the data suggests that sentiment may be shifting to the downside amid intensifying arguments that the good news is already priced into stocks.
Most of this session's weakness centered on the financial sector, which dropped 5.3% as many of the fundamentally weaker financial stocks that have shown the greatest momentum during the past week buckled. As such, AIG (AIG 36.00, -9.33) and ETrade Financial (ETFC 1.50, -0.26) were the primary laggards in the financial sector. Shares of ETFC were actually among the most actively traded names this session.
Overall trading volume in the NYSE eclipsed 1.6 billion in what was the most actively traded session in nearly one month, suggesting there was plenty of conviction behind this session's selling effort.
Weakness among stocks bled into commodities pits for the second straight session. That caused crude oil futures to reverse a 2.0% gain into a 2.7% loss. Oil prices settled at $68.05 per barrel, just above session lows. Meanwhile, the CRB Commodity Index had made its way to a 0.7% gain before dropping to a 1.9% loss. That marked its second worst loss by percent since July.
There weren't many corporate headlines this session, but automakers were out with their latest monthly sales totals. Ford (F 7.24, -0.36) announced that its sales during August were up 17.0% year-over-year, but that was below the 33% increase that analysts had come to expect amid the Cash for Clunkers program. Ford's competitors Honda Motor (HMC 31.20, -0.13) and Toyota (TM 84.61, -0.58) also reported increases for August, but Ford stated that it has gained retail market share in 10 of the last 11 months.
Corporate announcements are likely to be lacking again tomorrow, but participants will get plenty of trading cues with the release of the ADP Employment Change Report at 8:15 AM ET on Wednesday. Revised productivity data for the second quarter is also due tomorrow morning (8:30 AM ET), followed by factory orders data for July (10:00 AM ET). The FOMC also releases the minutes from its latest meeting tomorrow (2:00 PM ET).
|
Leading Sectors: None
Leading Industries: Photographic Products +2.40%
Lagging Sectors: Financials (-5.26%), Tech (-1.93%), Health Care (-1.30%), Consumer Staples (-1.07%), Consumer Discretionary (-1.99%), Industrials (-1.90%), Energy (-1.58%), Telecom (-2.39%), Materials (-2.66%), Utilities (-0.72%)
Lagging Industries: Multi-Line Insurance -10.05%, Real Estate Services -9.46%, Industrial REITs -8.90%, Life & Health Insurance -7.23%, Building Products -6.36%, Specialized REITs -5.95%, Other Diversified Financial Resources -5.81%, Health Care Facilities -5.79%, Regional Banks -5.79%, Consumer Finance -5.64%
NYSE:
Higher than avg volume @ 1635 vs. 1189 avg
Decliners outpacing Advancers : 512/2539
New highs outpacing new lows : 75/1
NASDAQ:
Higher than avg volume @ 2757 vs. 2166 avg
Decliners outpacing Advancers : 563/2139
New highs outpacing new lows : 38/10
Other Market Moving Factors:
• Concerted selling effort against financial stocks undercuts broader market
• ISM Manufacturing Index for August tops expectations, but construction spending for July disappoints, while pending home sales show stronger-than-expected increase -- participants sell the news
Quote:
Briefing.com - Tuesday September 01 2009 @ Updated: 01-Sep-09 18:10 ET AMC
After-Hours Report : Vonage Obtains iTunes Application Approval
Price level versus 4 pm ET : The belief that stocks are overbought and that they already reflect positive economic data prompted participants to make a concerted and broad-based push against stocks. That made for an ominous start to September as nearly 95% of the companies in the S&P 500 logged losses this session. Such weakness seemed fitting, though, since September has historically been a weak month for stocks... After the close, Vonage shares spiked over 15% following news that the company obtained application approval for iTunes App Store.
All ten sectors were in the red in today's trading session, led by financials (-5.3%), materials (-2.7%) and telecom (-2.4%).
Futures are flat after hours, S&P 500 futures, at 996.60 are below fair value of 997.16 and Nasdaq 100 futures, at 1595.50 are flat against fair value.
Companies trading higher in after hours in reaction to earnings: PAY +6.5%... Companies trading lower in after hours in reaction to earnings: ADCT -5.2%... Companies trading higher in after hours in reaction to news: VG +25.2% (Vonage obtains application approval for iTunes App Store; Vonage pops over 15% following iTunes news); PAY +6.5% (VeriFone Statement on Securities and Exchange Commission Settlement ); AXL +1.8% (American Axle: SAC Capital discloses 6.2% stake in AXL).
|
_______________________________________
U.S Markets - Wednesday September 02 2009 - BMO
TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,310.60, -185.68 (-1.96%)
NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 1,968.89, -40.17 (-2.00%)
S&P 500 INDEX (SPX: CBOE) 998.04, -22.58 (-2.21%)
__________________________________________
Current Markets
Asian Markets Wednesday September 02 2009 @ Sep 2 7:15am:
HANG SENG 19,522.00 ( -350.30 -1.76% )
NIKKEI 225 10,280.46 ( -249.60 -2.37% )
KLSE 1,168.01 ( -3.27 -0.28% )
STI 2,569.93 ( -26.46 -1.02% )
Currencies Wednesday September 02 2009 @ Sep 2 7:15am:
U.S. Dollar vs Euro ( +0.001 +0.07% ) 1.4229
U.S. Dollar vs Yen ( -0.25 -0.27% ) 0.0108
U.S. Dollar vs UK £ ( +0.01 +0.41% ) 1.62
Treasury Yields :
2 Year Note 0.90% -0.07 • 5 Year Note 2.31% -0.07
10 Year Note 3.36% -0.04 • 30 Year Note 4.19% +0.02
Gold (CMX ) December 09 ($US per Troy oz.) : 956.50 ( +3.00)
Light Crude (NYM ) October 09 ($US per bbl.) : 68.05 ( -1.91)
Earnings Highlights for Wednesday September 02 2009
BRLI , BTH , BF.B , DHT , JOSB , JOYG , SYNO , ZLC , ABM , PSS , GEF , HOV , MATK , OXM , SAI
Events for Wednesday September 02 2009
08:15 ADP Employment Change
08:30 Productivity-Rev.
10:00 Factory Orders
10:30 Crude Inventories
14:00 FOMC Minutes
___________________________________________
Summary
"Investing in the 'new normal'" : http://money.cnn.com/2009/09/02/pf/f...ion=2009090204
"Job cuts ease in August" : http://money.cnn.com/2009/09/01/news...ion=2009090207
"A worldwide worry: Is the rally over?" http://money.cnn.com/2009/09/02/mark...ion=2009090204
"Stocks brace for another fall" : http://money.cnn.com/2009/09/02/mark...ion=2009090206
Resistance levels @ 9,380 and 9,440
Support levels @ 9,240 and 9,120
Direction for Wednesday September 02 2009; ∇ Down |
| |
Post added on September 02,2009 |
|
|
| 31 August 2009 - BMO |
| |
U.S. MARKETS RECAP : Monday 24 August to Friday 28 August 2009
Quote:
Originally Posted by Briefing.com
Friday 28 August 2009 @ 17:02 ET AMC
Weekly Wrap:
The stock market logged another winning week -- albeit a slight one -- as a solid gain in financials was offset by losses in six of the ten economic sectors. Overall it was a relatively slow news week with very few earnings reports, though participants did have some economic and banking data to digest.
In the end, the S&P 500 rose 0.3%, hitting fresh highs for 2009. The financial sector led the way, advancing 0.7%, followed by the tech sector (+0.3%) which benefited from better-than-expected earnings and guidance from two bellwethers. Defensive sectors underperformed, with utilities shedding 0.7% and health care giving up 0.9%.
Economic data was mostly better-than-expected, though it failed to provide a sustainable lift for the market. Housing was in focus with two more reports coming out ahead of estimates, though from depressed levels.
New home sales for July rose at a 9.6% annualized rate to 433,000 units, which is well above the 390,000 that had been expected -- the sharpest percent rise since 2005. That helped bring inventory down to a 7.5 month supply from an 8.5 month supply. The new home sales increase comes on the heels of multiple positive reports in the housing market, signaling that the bottoming of the housing market may be near. The Case-Shiller 20-city home price index rose on a month-month basis, and the year-over-year drop improved to 15.4%. This was better than the 16.4% year-over-year drop that economists had forecasted.
The preliminary Q2 GDP reading was unchanged from the advance reading at a 1.0% annualized decline, better than the 1.5% drop that was expected. The reading benefited from a smaller-than-expected drop in consumer spending.
The latest weekly jobless claims data continue to reflect a challenging employment environment. There were 570,000 new unemployment claims, down 10,000 from the previous week but slightly higher than expectations. Continuing claims fell by 121,000 to 6.133 million. However, the downward trend of continuing claims should not be confused with a strengthening of the labor market. Jobs are not plentiful and the drop-off is due to workers losing their unemployment benefits.
August consumer confidence rose to 54.1 from 47.4, which was well above the 47.9 consumer confidence. Likewise, the revised University of Michigan consumer sentiment survey for august came in at 65.7, ahead of the 64.3 consensus.
Finally, the June personal income and spending report illustrated the weak economic conditions. Income was flat after falling 1.1% in June, worse then the expected rise of 0.1%. Meanwhile, real personal spending rose 0.2%, in-line with expectation. The gain was primarily due to the jump in auto sales due to the Cash for Clunkers package.
Banks were in focus following the release of second quarter statistics from the FDIC. The FDIC list of problem banks expand to a 15-year high to 416 problem institutions from 305. Although this is certainly a negative, most of the banks on the list are smaller firms as the combined assets of the problem institutions total $299.8 billion (to put this in perspective, the two largest bank holding companies -- JPMorgan Chase and Bank of America -- have more than $4 trillion in assets). Meanwhile, noncurrent loans and leases increased for the 13th consecutive quarter, though loans between 30-80 days past due declined. The FDIC said it is running low on funds and may need to borrow from the Treasury. We expect banks to continue to face challenges, especially regional banks that have high exposure to commercial real estate.
In other financial regulation news, Fed Chairman Ben Bernanke was nominated by President Obama for a second term, as was widely expected.
In corporate news, Boeing (BA) said it plans to deliver the highly-anticipated and several-times delayed 787 Dreamliner aircraft in late 2010. Boeing expects to incur a noncash charge of roughly $2.5 billion in the third quarter.
Technology bellwether Intel (INTC) raised its Q3 revenue guidance to $9 billon, plus or minus $200 million, citing stronger-than-expected demand for microprocessors and chipsets. The company's prior guidance was for revenue of $8.5 billion, plus or minus $400 million.
Fellow tech company Dell (DELL) reported a 23% drop in Q2 profit to $0.28 per share, but that was better than the consensus of $0.23. Dell also said it expects improved IT spending in 2010, though that is not a real surprise given depressed spending in 2009.
Year-to-date, the S&P 500 is now up 13.9%, the Dow is up 8.7% and the Nasdaq is leading the way with a 28.6% gain.
|
U.S. MARKETS RECAP : Friday 28 August 2009
Quote:
Originally Posted by Briefing.com
Friday 28 August 2009 @ 16:49 ET AMC
Daily Sector Wrap : Profit Takers Undercut Strong Start
Thanks to some strong announcements from a few key tech players, stocks were able to build on the previous session's upward momentum and start Friday considerably higher. However, stocks were unable to hold their initial gains as the belief that recent positive announcements have already been priced into stocks prompted sellers to book profits. That resulted in a lackluster finish for the major indices.
Dell (DELL 15.93, +0.27) helped extend the previous session's positive bias into after-hours trading by posting a better-than-expected adjusted $0.28 per share for its latest quarter. The company went on to offer an encouraging assessment of demand.
Semiconductor outfit Marvell Tech (MRVL 15.36, +0.73) also announced last evening better-than-expected earnings. It brought in an adjusted $0.18 per share, but went on to issue an upside earnings forecast during its conference call.
Fellow semiconductor company Intel (INTC 20.25, +0.78) bolstered the positive bias in morning trading by stepping out with an increased revenue forecast, which now calls for a top line of approximately $9 billion in the current quarter. Analysts, on average, had forecast some $8.5 billion in revenue for the quarter.
With tech making such strong announcements, market participants were generally indifferent to personal income and spending data for July. Income was flat and spending was up 0.2%, while core personal consumption expenditures were up 0.1%. Each was essentially in-line with expectations.
Though this morning's announcements helped take the major indices to fresh highs for 2009, their stay there was short-lived. The reversal marks a sign that equity markets are having difficulty rallying on good news. Since stocks failed to hold its opening gains, a substantial portion of the recent good news could already be factored into stock prices.
One variable in that scenario, though, is the light trading volume that has defined market activity in recent weeks. Once again, trading volume was well below the longer-term averages by coming in below 1.2 billion shares on the NYSE this session.
Despite a low-volume, lackluster close for the broader market, there were a handful of strong finishes. Tech stocks were able to settle 0.3% higher, followed by a 0.2% gain among financials, thanks to continued buying in AIG (AIG 650.23, +2.39). Retailers finished fractionally higher as better-than-expected earnings from Tiffany (TIF 37.57, +3.82) and J. Crew (JCG 34.73, +1.97) provided support. Materials stocks had the best gains, though; they finished 0.6% higher.
|
Leading Sectors: Financials (+0.15%), Tech (+0.32%), Materials (+0.62%)
Leading Industries: Semiconductors +3.24%, Motorcycle Manufacturers +3.18%, Construction Materials +2.84%, Industrial REITs +2.76%, Steel2.50%, Specialty Stores +2.28%, Gold +2.09%, Multi-Line Insurance2.03%, Diversified Metals & Mining +1.82%, Distillers & Vintners +1.73%
Lagging Sectors: Health Care (-0.91%), Consumer Staples (-0.53%), Consumer Discretionary (-0.11%), Industrials (-0.47%), Energy (-0.36%), Telecom (-0.53%), Utilities (-0.01%)
Lagging Industries: Tires & Rubber -4.72%, Multi-Sector Holdings -3.12%, Managed Health Care -2.30%, Commercial Printing -1.98%, Broadcasting -1.91%, Fertilizers & Agricultural Chemicals -1.77%, Tobacco -1.59%, Metal & Glass Containers -1.46%, Health Care Supplies -1.40%, Application Software -1.35%
NYSE:
Lower than avg volume @ 1146 vs. 1178 avg
Advancers outpacing Decliners : 1508/1488
New highs outpacing new lows : 82/2
NASDAQ:
Higher than avg volume @ 2330 vs. 2169 avg
Decliners outpacing Advancers : 938/1731
New highs outpacing new lows : 75/9
Other Market Moving Factors:
• Profit takers step in to undercut market's positive bias
• Upward momentum from previous session initially helped along by upside earnings surprises from Dell and Marvell Tech, along with a strong revenue forecast from Intel
• Personal income and spending data for July meet expectations
_______________________________________
PREVIEW FOR 31 August to 04 September, 2009
EARNINGS VIEW FOR WEEK OF 31 August to 04 September, 2009
Monday:
FMCN , SINA
Tuesday:
CRMT , RAIL , GIGM , NOVN , TUTR , ADCT , AVAV , APSG , DCI , SEAC , TTWO , PAY
Wednesday:
BRLI , BTH , BF.B , DHT , JOYG , SYNO , ZLC , ABM , PSS , GEF , HOV , MATK , OXM , SAI
Thursday:
AHII , CIEN , DLM , FLOW , JTX , LAYN , MDZ , MEI , MOV , SCMR , TK , UTIW , JOSB , ARST , CHP , COO , ESL , GIII , PSEM , ZQK , SNDA , SWHC , TSCM , ULTA , WIND
Friday:
HRB
___________________________________________
ECONOMIC VIEW FOR WEEK OF 31 August to 04 September, 2009
Events for Monday 31 August
09:45 Chicago PMI
Events for Tuesday 01 September
10:00 Construction Spending
10:00 ISM Index
14:00 Auto Sales
14:00 Truck Sales
Events for Wednesday 02 September
08:15 ADP Employment Change
08:30 Productivity-Rev.
10:00 Factory Orders
10:30 Crude Inventories
14:00 FOMC Minutes
Events for Thursday 03 September
08:30 Initial Claims
10:00 ISM Services
Events for Friday 04 September
08:30 Average Workweek
08:30 Hourly Earnings
08:30 Nonfarm Payrolls
08:30 Unemployment Rate
___________________________________________
TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,544.20, -36.43 (-0.38%)
NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,028.77, +1.04 (+0.05%)
S&P 500 INDEX (SPX: CBOE) 1,028.93, -2.05 (-0.20%)
__________________________________________
Current Markets
Asian Markets Monday August 31 2009 @ Aug 31 6:50am:
HANG SENG 19,724.19 ( -374.43 -1.86% )
NIKKEI 225 10,492.53 ( -41.61 -0.40% )
KLSE 1,174.27 ( -2.63 -0.22% )
STI 2,592.90 ( -49.90 -1.89% )
Currencies Monday August 31 2009 @ Aug 31 6:50am:
U.S. Dollar vs Euro ( -0.0026 -0.18% ) 1.4279
U.S. Dollar vs Yen ( -0.4 -0.43% ) 0.0107
U.S. Dollar vs UK £ ( -0.01 -0.40% ) 1.62
Treasury Yields :
2 Year Note 1.01% -0.03 • 5 Year Note 2.44% -0.03
10 Year Note 3.45% 0.00 • 30 Year Note 4.20% -0.02
Gold (CMX ) December 09 ($US per Troy oz.) : 958.80 ( +11.50)
Light Crude (NYM ) October 09 ($US per bbl.) : 72.74 ( +0.25)
___________________________________________
Summary
"Credit lines dry up for auto dealers" : http://money.cnn.com/2009/08/31/smal...ion=2009083104
This report paints a worrying image in my mind
"Bernanke the risk taker" : http://money.cnn.com/2009/08/25/news...ion=2009082908
"Buffett to up stake in Chinese electric carmaker" : http://money.cnn.com/2009/08/31/news...ion=2009083106
"What's next? Ask the bond market" : http://money.cnn.com/2009/08/31/pf/f...ion=2009083105
"Chinese stocks swoon - down 6%" : http://money.cnn.com/2009/08/31/mark...ion=2009083103
"Stocks set for selloff" : http://money.cnn.com/2009/08/31/mark...ion=2009083106
Let us just say that today might just be the start of the pullback.
Resistance levels @ 9,620 and 9,700
Support levels @ 9,500 and 9,380
Direction for Monday 31 August 2009; ∇ Down
Direction for the week Monday 31 August to Friday 04 September, 2009; ∇ Down |
| |
Post added on August 31,2009 |
|
|
| 27 August 2009 - BMO |
| |
U.S. MARKETS RECAP : Wednesday, August 26, 2009 AMC  Quote:
Briefing.com - Wednesday August 26 2009 @ 16:45 ET AMC
Daily Sector Wrap : Lack of Interest Leaves Stocks to Drift
Despite some encouraging economic data, stocks had a listless session and made another lackluster finish. Nonetheless, the major indices managed to eke out a fractional gain, which means that the Dow has finished higher seven straight times.
There weren't any individual leaders for the broader market this session, but retailers (+0.7%) did garner support following better-than-expected earnings and an upside forecast from Dollar Tree (DLTR 50.13, +2.23) and Williams-Sonoma (WSM 17.21, +1.74). Home improvement retailers (+1.4%) also gained, but their strength was owed to an encouraging new home sales report.
Annualized new home sales for July hit 433,000 units, which is well above the 390,000 that had been expected. What's more, the 9.6% month-over-month increase for July is the sharpest rise since 2005. That helped bring inventory down to a 7.5 month supply from an 8.5 month supply.
The better-than-expected new home sales report brought about a broad-based buying effort that took stocks to their best levels of the session. However, gains were capped as buyers seemed unwilling to chase stocks higher. That left the major indices to drift lower.
With participants sitting on the sidelines the rest of the day's news items didn't have much of an impact on the overall market. As such, participants were essentially unimpressed by news that durable goods orders made their sharpest increase in two years by spiking 4.9% in July. Economists had called for a 3.0% increase. Though the increase exceeded expectations, the results were generally the result of the Cash for Clunkers program. Excluding autos, durable goods orders increased 0.8%, which was largely in-line with expectations.
Stocks did drift to afternoon lows following news that an auction of 5-year Treasuries produced a high yield of roughly 2.49% and a bid-to-cover ratio of approximately 2.5. A lack of conviction behind the selling effort enabled the stock market to make its way back to neutral territory.
The lack of interest on the part of participants was also made evident by the lack of trading volume this session. Hardly 1 billion shares traded hands on the NYSE.
|
Tech (+0.06%), Consumer Staples (+0.36%), Consumer Discretionary (+0.45%), Energy (+0.53%), Telecom (+0.76%) Leading Industries: Photographic Products +20.83%, Homebuilding +3.44%, Publishing & Printing +2.59%, Computer Storage & Peripherals +2.58%, Food Retail +2.38%, General Merchandise Stores +2.24%, Home Furnishing Retail +1.99%, Diversified REITs +1.84%, Multi-Line Insurance +1.78%, Retail REITs +1.76% Lagging Sectors: Financials (-0.12%), Health Care (-0.25%), Industrials (-0.92%), Materials (-0.48%), Utilities (-0.15%) Lagging Industries: Trucking -2.80%, Broadcasting -2.42%, Tires & Rubber -2.35%, Managed Health Care -2.20%, Steel -2.07%, Distributors -2.01%, Construction & Farm Machinery & Heavy Trucks -1.98%, Construction & Engineering -1.89%, Motorcycle Manufacturers -1.79%, Railroads -1.57% NYSE:Lower than avg volume @ 1052 vs. 1179 avg Decliners outpacing Advancers : 1429/1561 New highs outpacing new lows : 110/3 NASDAQ:Lower than avg volume @ 2035 vs. 2172 avg Advancers outpacing Decliners : 1392/1262 New highs outpacing new lows : 67/7 Other Market Moving Factors:• Previous session's flat finish extends into premarket trading • Preliminary second quarter GDP reading unchanged from advance reading, but consumer spending declines less than expected • Jobless claims remain high, but mixed when compared with expectations Quote:
Briefing.com - Wednesday August 26 2009 @ Updated: 26-Aug-09 18:33 ET AMC
After-Hours Report : SIGM Down Sharply on Q2 Earnings
Price level versus 4 pm ET: Despite some encouraging economic data, stocks had a listless session and made another lackluster finish. Nonetheless, the major indices managed to eke out a fractional gain, which means that the Dow has finished higher seven straight times
Five of the ten sectors gained, led by telecom (+0.8%) and energy (+0.5%), while the industrials (-0.9%) and materials (-0.5%) sectors underperformed on a relative basis.
Futures are flat after hours, S&P 500 futures, at 1027.30 and Nasdaq 100 futures, at 1637.25 are flat against fair value.
|
_______________________________________
U.S Markets - Thursday August 27 2009 - BMO
TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,543.52, +4.23 (+0.04%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,024.43, +0.2 (+0.01%) S&P 500 INDEX (SPX: CBOE) 1,028.12, +0.12 (+0.01%) __________________________________________ Current MarketsAsian Markets Thursday August 27 2009 @ Aug 27 8:59am: HANG SENG 20,242.75 ( -213.57 -1.04% ) NIKKEI 225 10,473.97 ( -165.74 -1.56% ) KLSE 1,176.90 ( +4.34 +0.37% ) STI 2,642.23 ( +13.80 +0.53% ) Currencies Thursday August 27 2009 @ Aug 27 8:59am: U.S. Dollar vs Euro ( +0.0006 +0.04% ) 1.4249 U.S. Dollar vs Yen ( -0.37 -0.39% ) 0.0107 U.S. Dollar vs UK £ ( 0.00 -0.24% ) 1.62 Treasury Yields :  2 Year Note 1.07% +0.02 • 5 Year Note 2.50% +0.0610 Year Note 3.47% +0.04 • 30 Year Note 4.24% +0.05Gold (CMX ) December 09 ($US per Troy oz.) : 949.70 ( +3.90) Light Crude (NYM ) October 09 ($US per bbl.) : 71.17 ( -0.26) Earnings Highlights for Thursday August 27 2009APWR , AEO , CSUN , CONN , CPIX , ENER , FRED , GCO , GRB , LB , NOVN , OSIS , SCVL , TK , TOL , VIP , ARUN , BEBE , DELL , DLLR , JCG , MRVL , MCRS , NZ , NOVL , OVTI , SB , SLH , NCTY Events for Thursday August 27 200908:30 Initial Claims 08:30 Q2 GDP - Prelim 08:30 GDP Deflator 08:30 Core PCE ___________________________________________ Summary"Stocks led by four wounded horsemen" : http://money.cnn.com/2009/08/26/mark...ion=2009082708OMG read the part which says "In fact, these four wounded horsemen of the financial sector comprised 40% of the overall trading volume on the NYSE on Tuesday." And if by any means the market is moving up purely on wafer-thin volume and only these 4 stocks are moving it.... the feeling is yeah..... hell is it scary especially as we approach sept-oct period. Currently Wall Street seems to be banging and hammering its resistance like a headless fly. Makes me wonder what and when would it fall off the cliff... "Wall Street nudging higher" : http://money.cnn.com/2009/08/27/mark...ion=2009082709In this article - "We're in the face of a market that seems to be ignoring good news," said Art Hogan. Hmmmm are we running out of steam for the rally since march? We've been up up up and no looking back. "Economy shows stabilization: GDP down 1%" : http://money.cnn.com/2009/08/27/news...ion=2009082709"Fewer jobless file claims for cash" : http://money.cnn.com/2009/08/27/news...ion=2009082709Above 2 pieces are great news for the long run but guess our over euphoric these past few months have already got us to a level high enough top be dropped. Overall summary i guess we have more or less stabilized and seen the bottom but our current level is way too high for the current situation. Personally i think we'll likely see a drawback before we recover steadily. Resistance levels @ 9,620 and 9,650 Support levels @ 9,500 and 9,390 Direction for Thursday August 27 2009; ∇ Down |
| |
Post added on August 27,2009 |
|
|
| 26 August 2009 - BMO |
| |
U.S. MARKETS RECAP : Tuesday, August 25, 2009 AMC
Quote:
Briefing.com - Tuesday August 25 2009 @ 16:40 ET AMC
Daily Sector Wrap : Stocks Make Modest Advance
Stocks spiked to a gain of more than 1% following a better-than-expected consumer confidence reading, but the major indices quickly faltered to settle the session with modest gains. Though that made for an unimpressive finish, the gain helped stocks register a new closing high for 2009.
The major indices hit session highs in the moments following the Consumer Confidence Index for August, which came in at 54.1. That was above the 47.9 that was widely expected and marked an improvement from the upwardly revised July reading of 47.4. However, market participants should remember that consumer confidence is not highly correlated with actual spending.
Despite that consideration, retailers showed steady strength through the entire session. They finished 1.8% higher, led by Big Lots (BIG 25.60, +1.57). The discount retailer reported better-than-expected earnings. Chico's FAS (CHS 12.79, +0.90) also provided support with its own positive earnings surprise. The strength behind retailers helped the consumer discretionary sector finish 1.2% higher, the best of the major sectors in the S&P 500.
In other earnings news, Medtronic (MDT 37.86, -0.14) spent the entire session chopping along in negative territory despite posting in-line quarterly earnings. That detracted from the tech sector, which finished just 0.1% higher.
Financial stocks were a primary source of support to the broader market, though. They led gains for virtually the entire session before settling with a 1.1% gain. Bank stocks and shares of insurers underpinned the sector's strength.
Separately, Ben Bernanke has been nominated to a second term as Chairman of the Federal Reserve. His nomination comes as the U.S. economy continues to contend with considerable macro headwinds.
|
Leading Sectors: Financials (+1.12%), Tech (+0.11%), Health Care (+0.35%), Consumer Staples (+0.15%), Consumer Discretionary (+1.21%), Industrials (+0.65%), Telecom (+0.08%)
Leading Industries: Consumer Electronics +9.78%, Photographic Products +5.56%, Industrial REITs +4.69%, Home Furnishing Retail +4.22%, Motorcycle Manufacturers +3.38%, Apparel Retail +3.25%, Homebuilding +3.16%, Housewares & Specialties +3.08%, Multi-Line Insurance +3.06%, Drug Retail +3.00%
Lagging Sectors: Energy (-1.36%), Materials (-0.37%), Utilities (-0.48%)
Lagging Industries: Coal & Consumable Fuels -3.09%, Home Entertainment Software -2.93%, Oil & Gas Exploration & Production -2.44%, Wireless Telecommunications Services -2.39%, Agricultural Products -2.29%, Oil & Gas Equipment -2.28%, Independent Power Producers & Energy Traders -2.15%, Diversified Metals & Mining -2.05%, Oil & Gas Drilling -2.04%, Thrifts & Mortgage Finance -1.92%
NYSE:
Lower than avg volume @ 1142 vs. 1181 avg
Advancers outpacing Decliners : 1822/1181
New highs outpacing new lows : 123/1
NASDAQ:
Lower than avg volume @ 1945 vs. 2176 avg
Advancers outpacing Decliners : 1434/1225
New highs outpacing new lows : 76/8
Other Market Moving Factors:
• Participants show little reaction to sharp increase in July durable goods orders and in-line increase for orders less autos
• July new home sales data (10:00 AM ET) and results from an auction of 5-year Treasuries (1:00 PM ET) expected to act as catalysts
Quote:
Briefing.com - Tuesday August 25 2009 @ Updated: 25-Aug-09 17:01 ET AMC
After-Hours Report : News Flow Even Slow After Closing Bell
Stocks spiked to a gain of more than 1% following a better-than-expected consumer confidence reading, but the major indices quickly faltered to settle the session with modest gains. Though that made for an unimpressive finish, the gain helped stocks register a new closing high for 2009.
Shares of consumer discretionary stocks (+1.2%), made the best gains of any major sector this session. Their strength was underpinned by retailers, which advanced 1.8% as a group. Energy stocks were the weakest performers; they shed 1.4% after putting together the strongest advance in the previous session.
A flat to modestly lower tone is indicated in after-hours action. S&P 500 futures, which currently trade at 1025.60, are just one point behind fair value. Nasdaq 100 futures, which currently trade at 1636.75, trail fair value by roughly three points.
|
_______________________________________
U.S Markets - Wednesday August 26 2009 - BMO
TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,539.29, +30.01 (+0.32%)
NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,024.23, +6.25 (+0.31%)
S&P 500 INDEX (SPX: CBOE) 1,028.00, +2.43 (+0.24%)
__________________________________________
Current Markets
Asian Markets Wednesday August 26 2009 @ Aug 26 8:26am:
HANG SENG 20,456.32 ( +21.08 +0.10% )
NIKKEI 225 10,639.71 ( +142.35 +1.36% )
KLSE 1,172.56 ( +1.47 +0.13% )
STI 2,628.43 ( +9.67 +0.37% )
Currencies Wednesday August 26 2009 @ Aug 26 8:26am:
U.S. Dollar vs Euro ( -0.0027 -0.19% ) 1.427
U.S. Dollar vs Yen ( +0.01 +0.01% ) 0.0106
U.S. Dollar vs UK £ ( -0.01 -0.63% ) 1.62
Treasury Yields :
2 Year Note 1.06% +0.04 • 5 Year Note 2.45% -0.03
10 Year Note 3.43% -0.04 • 30 Year Note 4.21% -0.05
Gold (CMX ) December 09 ($US per Troy oz.) : 946.00 ( +2.30)
Light Crude (NYM ) October 09 ($US per bbl.) : 72.05 ( -2.32)
Earnings Highlights for Wednesday August 26 2009
BWS , CHRS , CCUR , DLTR , DSW , ISLE , KIRK , NWY , WSM , CWTR , GES , HEI , JAS , SIGM , SINA , TIVO
Events for Wednesday August 26 2009
08:30 Durable Orders
08:30 Durables, Ex Transportation
10:00 New Home Sales
10:30 Crude Inventories
___________________________________________
Summary
"Durable goods orders surge 4.9%" : http://money.cnn.com/2009/08/26/news...ion=2009082608
"Stocks set for weak start" : http://money.cnn.com/2009/08/26/mark...ion=2009082608
Yesterday Dow hit my 1st level resistance @ 9620 **JACKPOT** only to fall back and end +30.01 @ 9,539.29 to form an inverted hammer. Same goes for S&P500 and nasdaq ended as doji. Seems like the market is consolidating and running out of steam. For this rally to go forward we'll at least have to clear 9620.
Resistance levels @ 9,620 and 9,650
Support levels @ 9,500 and 9,390
Direction for Wednesday August 26 2009; ∇ Down |
| |
Post added on August 26,2009 |
|
|
| 25 Aug 2009 - BMO |
| |
U.S. MARKETS RECAP : Monday, August 24, 2009 AMC
Quote:
Briefing.com - Monday August 24 2009 @ 16:43 ET AMC
Daily Sector Wrap : Financials Lead Market Higher, then Lower
The broader market was led higher in the early going by financial stocks, but the sector succumbed to an afternoon selling effort that caused it to upend the major indices. In turn, the S&P 500 settled just below the neutral line, but that was still enough to end its winning streak at four sessions.
Stocks in the S&P 500 looked as if they were going to make their fifth straight advance as buyers chased the stock market's recent advances for fear of missing out on future gains. Their rather bullish bias was further supported by broad-based buying overseas and came in the face of a warning from New York University Professor Roubini about a double-dip recession in a Financial Times article.
Though there weren't any economic reports or noteworthy earnings announcements to act as catalysts this session, participants reacted strongly to an upgrade of American Express (AXP 32.67, -0.18) and Capital One (COF 36.45, -0.03) by analysts at Barclays. That propelled consumer finance stocks up more than 3% during the session, but the group finished with a gain of just 0.1% as participants pushed back against financial stocks.
Banks saw the worst of the selling effort. Diversified banks fell 2.3% and regional banks dropped 3.2%. Their weakness took the broader financial sector from a gain of roughly 2% to a 0.9% loss, which was only matched by the consumer discretionary sector.
In contrast, energy stocks were able to preserve most of their strength. The sector finished 1.3% higher, which was the best of any major sector in the S&P 500. Drillers (+1.4%) and refiners (+1.8%) saw some of the best gains, but it was integrated oil (+1.7%) that provided the most leadership, thanks to the market weight of such heavy hitters as Exxon Mobil (XOM 71.30, +1.38). The blue chip proved to be a primary leader in the Dow, which was the only major index to eke out a gain.
Energy stocks were buoyed by continued gains by oil prices, which set fresh highs for the year by making their way to $74.81 per barrel. Oil prices pulled back a bit to settle at $74.37 per barrel, up 0.6%.
Prior to the afternoon pullback the S&P 500 also registered fresh highs for 2009. It remains up almost 5% during the course of the last five sessions and up nearly 17% during the last six weeks.
|
Leading Sectors: Health Care (+0.37%), Industrials (+0.12%), Energy (+1.31%), Telecom (+0.19%), Utilities (+0.17%)
Leading Industries: Industrial REITs +2.82%, Broadcasting +2.52%, Publishing & Printing +1.86%, Oil & Gas Refining & Marketing +1.77%, Integrated Oil & Gas +1.67%, Tobacco +1.56%, Multi-Line Insurance +1.50%, Managed Health Care +1.43%, Oil & Gas Drilling +1.42%, Office Electronics +1.29%
Lagging Sectors: Financials (-0.92%), Tech (-0.08%), Consumer Staples (-0.14%), Consumer Discretionary (-0.94%), Materials (-0.84%)
Lagging Industries: Consumer Electronics -5.45%, Tires & Rubber -5.23%, Automobile Manufacturers -4.27%, Computer & Electronics Retail -3.59%, Real Estate Services -3.55%, Auto Parts & Equipment -3.54%, Regional Banks -3.17%, Motorcycle Manufacturers -2.65%, Airlines -2.42%, Diversified Banks -2.27%
NYSE:
Higher than avg volume @ 1208 vs. 1182 avg
Advancers outpacing Decliners : 1529/1488
New highs outpacing new lows : 76/5
NASDAQ:
Lower than avg volume @ 2032 vs. 2108 avg
Decliners outpacing Advancers : 1223/1455
New highs outpacing new lows : 69/6
Other Market Moving Factors:
• Overall news flow is slow ahead of latest home price data and consumer confidence index
• Fed Chair Bernanke expected to receive nomination to second term
Quote:
Briefing.com - Monday August 24 2009 @ Updated: 24-Aug-09 17:00 ET AMC
After-Hours Report : Marathon Has Outlook Revised
The broader market was led higher in the early going by financial stocks, but the sector succumbed to an afternoon selling effort that caused it to upend the major indices. In turn, the S&P 500 settled just below the neutral line, but that was still enough to end its winning streak at four.
Financials finished with a 0.9% loss, which was rivaled only by the consumer discretionary sector. At the other end of the spectrum was the energy sector, which finished with a 1.3% gain, better than any other major sector.
The stock market's flat finish has carried over into the after-hours trading. Futures contracts for the S&P 500 currently trade at 1024.10, which is in-line with fair value. Nasdaq 100 futures, which currently trade at 1633.00, are just one point behind fair value.
|
_______________________________________
U.S Markets - Tuesday August 25 2009 - BMO
TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,509.28, +3.32 (+0.03%)
NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,017.98, -2.92 (-0.14%)
S&P 500 INDEX (SPX: CBOE) 1,025.57, -0.56 (-0.05%)
__________________________________________
Current Markets
Asian Markets Tuesday August 25 2009 @ Aug 25 8:28am:
HANG SENG 20,435.24 ( -100.70 -0.49% )
NIKKEI 225 10,497.36 ( -83.69 -0.79% )
KLSE 1,171.09 ( -3.40 -0.29% )
STI 2,618.76 ( +6.43 +0.25% )
Currencies Tuesday August 25 2009 @ Aug 25 8:28am:
U.S. Dollar vs Euro ( +0.0041 +0.29% ) 1.4336
U.S. Dollar vs Yen ( -0.24 -0.25% ) 0.0106
U.S. Dollar vs UK £ ( 0.00 -0.09% ) 1.64
Treasury Yields :
2 Year Note 1.04% -0.05 • 5 Year Note 2.04% -0.07
10 Year Note 3.49% -0.07 • 30 Year Note 4.27% -0.10
Gold (CMX ) December 09 ($US per Troy oz.) : 943.70 ( -11.00)
Light Crude (NYM ) October 09 ($US per bbl.) : 74.37 ( +0.48)
Earnings Highlights for Tuesday August 25 2009
AMWD , BIG , BKC , CHS , COCO , DAKT , GIGM , MDT , SAFM , SPLS , JAVA , TUES , BCSI , DY , HAIN , IRF , MYGN
Events for Tuesday August 25 2009
09:00 S&P/Case-Shiller Home Price Index
10:00 Consumer Confidence
___________________________________________
Summary
"Federal deficits: $9 trillion and counting" : http://money.cnn.com/2009/08/24/news...ion=2009082507
"Stocks poised for slight pop" : http://money.cnn.com/2009/08/25/mark...ion=2009082508
"Obama to tap Bernanke for 2nd term" : http://money.cnn.com/2009/08/24/news...ion=2009082508
Yesterday ended mix with the Dow ending nearly unchanged +3.32 points. Overall painted a slightly negative view with the 3 indices hovering around their resistance. With all that the news today will have quite an impact.
Resistance levels @ 9,620 and 9,666
Support levels @ 9,400 and 9,280
Direction for Tuesday August 25 2009; ∇ Down |
| |
Post added on August 25,2009 |
|
|
| 20 August 2009 BMO |
| |
U.S. MARKETS RECAP : Thursday, August 20, 2009 AMC  Quote:
Briefing.com - Thursday August 20 2009 @ 16:47 ET AMC
Daily Sector Wrap : Financials and Data Overtake Weekly Jobs Report
Strength among financial stocks and a couple of positive pieces of data helped the broader market overcome an early fit of weakness that stemmed from a disappointing jobless claims report. In turn, stocks logged their third straight session of gains and are now up modestly week-to-date.
News that initial jobless claims for the week ending August 15 came in above expectations at 576,000 and continuing claims made a slight advance to 6.24 million in the face of expiring unemployment benefits undercut a positive bias in premarket trading. However, stocks were able to shake off the news of stubbornly weak labor markets and managed to make their way higher in the first few minutes of trade.
The initial advance was particularly kind to the financial sector, which gained momentum as bank stocks and insurers garnered additional support. Diversified banks finished 3.0% higher and multiline insurers closed with a 4.3% gain. The broader financial sector finished 2.6% higher, which was more than double the gain had by the next best performing sector (industrials, +1.2%).
The mood among participants improved further following midmorning news that leading economic indicators increased 0.7% in July. Though that was generally in-line with expectations, it marked the fourth straight increase.
A surprise increase in the Philadelphia Fed Index also proved pleasing. The index for August came in at 4.2, which was up from -7.5 in July and bested the -0.2 that was widely expected.
Gains by the financial sector, along with an upbeat Philly Fed Index and leading indicators report, helped drive all 10 major sectors to finish with gains.
The improved tone among broader market participants even helped lift retailers, which were hampered by weakness in shares of Sears Holdings (SHLD 65.00, -8.76) after the company reported a worse-than-expected loss. Weakness was shared by Buckle (BKE 26.84, -1.09) and Limited (LTD 14.35, -0.23), even though both companies posted better-than-expected quarterly earnings. Still, retailers were able to finish 0.4% higher.
Trading volume remains low. Though 1 billion shares exchanged hands in the NYSE for the first time since Monday, that's still well below longer-term averages. The lack of participation in recent sessions brings into question the legitimacy of the stock market's three-session run, which now totals nearly 3%.
|
Financials (+2.60%), Tech (+1.05%), Health Care (+0.61%), Consumer Staples (+0.57%), Consumer Discretionary (+0.78%), Industrials (+1.23%), Energy (+0.89%), Telecom (+0.87%), Materials (+0.38%), Utilities (+0.66%) Leading Industries: Real Estate Services +7.23%, Office REITs +5.05%, Retail REITs +5.05%, Industrial REITs +4.70%, Multi-Line Insurance +4.32%, Health Care Supplies +4.06%, Residential REITs +4.00%, Specialized REITs +3.33%, Hotels, Resorts & Cruise Lines +3.23%, Other Diversified Financial Services +3.19% Lagging Sectors: None Lagging Industries: Building Products -1.89%, Office Electronics -1.65%, Auto Parts & Equipment -1.61% NYSE:Lower than avg volume @ 1046 vs. 1476 avg Advancers outpacing Decliners : 2221/811 New highs outpacing new lows : 50/5 NASDAQ:Lower than avg volume @ 1960 vs. 2185 avg Advancers outpacing Decliners : 1733/904 New highs outpacing new lows : 22/10 Other Market Moving Factors:• Previous session's buying carries into premarket trading as overseas markets help support a positive momentum • Jobless claims rise unexpectedly • Leading indicators show in-line increase, Phila. Fed Index makes surprise jump Quote:
Briefing.com - Thursday August 20 2009 @ 16:55 ET AMC
After-Hours Report : GAP Reports Earnings
Price level versus 4 pm ET : Strength among financial stocks and a couple of positive pieces of data helped the broader market overcome an early fit of weakness that stemmed from a disappointing jobless claims report. In turn, stocks logged their third straight session of gains and are now up modestly week-to-date.
All ten of the ten sectors gained, led by financial (+2.6%) and industrials (+1.1%). The materials (+0.4%) and consumer staples (+0.6%) sectors underperformed on a relative basis.
Futures are flat after hours, S&P 500 futures, at 996.80 are below fair value by one point and Nasdaq 100 futures, at 1614.00 are flat against fair value.
|
_______________________________________
U.S Markets - Friday August 21 2009 - BMO
TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,350.05, +70.89 (+0.76%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 1,989.22, +19.98 (+1.01%) S&P 500 INDEX (SPX: CBOE) 1,007.37, +10.91 (+1.09%) __________________________________________ Current MarketsAsian Markets Friday August 21 2009 @ Aug 21 7:11am: HANG SENG 20,199.02 ( -129.84 -0.64% ) NIKKEI 225 10,238.20 ( -145.21 -1.40% ) KLSE 1,163.79 ( +0.36 +0.03% ) STI 2,544.86 ( -14.71 -0.57% ) Currencies Friday August 21 2009 @ Aug 21 7:11am: U.S. Dollar vs Euro ( +0.0082 +0.58% ) 1.4327 U.S. Dollar vs Yen ( -0.37 -0.39% ) 0.0107 U.S. Dollar vs UK £ ( +0.01 +0.42% ) 1.66 Treasury Yields :  2 Year Note 1.00% +0.01 • 5 Year Note -0.03% +0.0110 Year Note 0.16% -0.02 • 30 Year Note 0.84% -0.05Gold (CMX ) December 09 ($US per Troy oz.) : 941.70 ( -3.10) Light Crude (NYM ) September 09 ($US per bbl.) : 72.54 ( +0.12) Earnings Highlights for Friday August 21 2009ANN , SJM , MPR , PCAP Events for Friday August 21 200910:00 Existing Home Sales ___________________________________________ Summary"Stocks set for wary open" : http://money.cnn.com/2009/08/21/mark...ion=2009082107"China fears spark flight to safety" : http://money.cnn.com/2009/08/21/mark...ion=2009082104We started monday @ 9,313.85 and now we are @ 9,350.05 slight gains for the week but i hold firm to the notion of us ending in the red this week. Word of caution the past few up sessions were all on low volume. Resistance levels @ Support levels @ Direction for Friday August 21 2009; ∇ Down |
| |
Post added on August 21,2009 |
|
|
| 20 Aug 2009 - BMO |
| |
U.S. MARKETS RECAP : Wednesday, August 19, 2009 AMC  Quote:
Briefing.com - Wednesday August 19 2009 @ 16:45 ET AMC
Daily Sector Wrap : Stocks Rebound Amid Low Volume
Stocks started the session in the red as participants reacted negatively to further selling pressure overseas, but a jump in oil prices helped the energy sector lead a turnaround that took the broader market to a solid gain above near-term resistance levels. Participation remains unimpressive, though.
The dour mood among global participants left investors unimpressed with better-than-expected earnings from Deere (DE 43.73, -1.36) and Dow component Hewlett-Packard (HPQ 43.83, -0.13) and, instead, focused on Deere's pessimistic outlook and Hewlett-Packard's reaffirmed guidance. While shares of HPQ pared losses, DE spent the entire session markedly lower, which weighed on the industrial sector and left it to finish fractionally lower.
Financials also finished fractionally lower and made up the only other major sector to settle in negative ground.
Comments from renowned investor Warren Buffett in a New York Times article offered a reminder that the U.S. economy is on a slow path to recovery. With that in mind, the mood on trading floors started to change as chatter began to circulate that a second fiscal stimulus plan could be possible, but that was downplayed when a White House spokesman said in a Bloomberg.com article that there is no imminent economic announcement.
However, market participants jumped into the energy sector following news that weekly oil inventories showed a draw of roughly 8.40 million barrels in the face of calls for an inventory build. Oil prices had been down in early pit trade, but settled 4.7% higher at $72.42 per barrel. Energy stocks were able to recover from a loss of roughly 1% to finish with a 1.9% gain, better than any other major sector.
The run up in oil prices helped provide leadership to other commodities, which gave the CRB Commodity Index 1.5% gain -- its best performance in two weeks.
The improved tone among participants helped stocks build on the previous session's gain. In turn, stocks are down less than 1% week-to-date after Monday's 2.4% drop, which marked the stock market's worst single-session percentage loss in six weeks. The back-to-back gains have also taken stocks above near-term resistance levels, which stood just above 990.
Trading volume was exceptionally low again, however. For the second straight session fewer than 1 billion shares exchanged hands on the NYSE, suggesting that there hasn't been much conviction behind the recent moves.
|
Tech (+0.41%), Health Care (+1.23%), Consumer Staples (+0.61%), Consumer Discretionary (+0.95%), Energy (+1.90%), Telecom (+0.56%), Materials (+1.06%), Utilities (+0.66%) Leading Industries: Broadcasting +4.97%, Diversified Metals & Mining +2.63%, Trucking +2.34%, Home Furnishings +2.30%, Office Electronics +2.30%, Cable & Satellite +2.12%, Integrated Oil & Gas +2.09%, Footwear +2.09%, Construction Materials +1.89%, Paper Products +1.88% Lagging Sectors: Financials (-0.05%), Industrials (-0.07%) Lagging Industries: Airlines -4.08%, Aluminum -3.40%, Photographic Products -2.89%, Health Care Facilities -2.50%, Home Entertainment Software -2.10%, Retail REITs -1.58%, Wireless Telecommunications Services -1.44% NYSE:Lower than avg volume @ 988 vs. 1179 avg Advancers outpacing Decliners : 1848/1141 New highs outpacing new lows : 50/5 NASDAQ:Lower than avg volume @ 1985 vs. 2193 avg Advancers outpacing Decliners : 1683/928 New highs outpacing new lows : 22/10 Other Market Moving Factors:• Renewed pressure overseas sends stocks lower in early trade, but broad-based buying lifts stocks midsession • Hewlett-Packard and Deere top earnings estimates Quote:
Briefing.com - Wednesday August 19 2009 @ 16:45 ET AMC
After-Hours Report : PETsMART Shares Fall
Price level versus 4 pm ET : Stocks started the session in the red as participants reacted negatively to further selling pressure overseas, but a jump in oil prices helped the energy sector lead a turnaround that took the broader market to a solid gain above near-term resistance levels. Participation remains unimpressive, though
Eight of the ten sectors gained, led by energy (+1.9%) and healthcare (+1.2%). The financial (-0.1%) and industrial (-0.1%) sectors underperformed.
Futures are slightly higher after hours, S&P 500 futures, at 996.80 are above fair value by two points and Nasdaq 100 futures, at 1599.50 are above fair value by three points.
|
_______________________________________
U.S Markets - Thursday August 20 2009 - BMO
TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,279.16, +61.22 (+0.66%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 1,969.24, +13.32 (+0.68%) S&P 500 INDEX (SPX: CBOE) 996.46, +6.79 (+0.69%) __________________________________________ Current MarketsAsian Markets Thursday August 20 2009 @ Aug 20 6:57am: HANG SENG 20,328.86 ( +374.63 +1.88% ) NIKKEI 225 10,383.41 ( +179.41 +1.76% ) KLSE 1,163.43 ( +7.90 +0.68% ) STI 2,559.57 ( +36.79 +1.46% ) Currencies Thursday August 20 2009 @ Aug 20 6:57am: U.S. Dollar vs Euro ( -0.0018 -0.13% ) 1.4215 U.S. Dollar vs Yen ( +0.08 +0.09% ) 0.0106 U.S. Dollar vs UK £ ( -0.01 -0.48% ) 1.65 Treasury Yields :  2 Year Note 0.99% -0.04 • 5 Year Note 0.25% -0.0510 Year Note 0.53% -0.06 • 30 Year Note 1.06% -0.06Gold (CMX ) December 09 ($US per Troy oz.) : 944.80 ( +5.60) Light Crude (NYM ) September 09 ($US per bbl.) : 72.42 ( +3.23) Earnings Highlights for Thursday August 20 2009FLWS , BKS , BONT , CTR , PLCE , DKS , GME , HNZ , HRL , KNSY , LANC , LYTS , NOVN , PDCO , QUIX , RGS , ROST , SCHS , SHLD , SFL , SSI , GASS , SMRT , STP , TECD , TK , BKE , TTC , ARO , BRCD , JRJC , FL , GPS , HSTX , HIBB , INTU , MENT , NDSN , OTEX , PSUN , SB , CRM , SCSC , SKIL , VRGY , WTSLA , ZUMZ , ZIGO Events for Thursday August 20 200908:30 Initial Claims 10:00 Leading Indicators 10:00 Philadelphia Fed ___________________________________________ Summary"Stocks headed for flat start" : http://money.cnn.com/2009/08/20/mark...ion=2009082007Not much of news that would propel the market today. Jobless claims rose. Resistance levels @ 9,330 and 9,400 Support levels @ 9,230 and 9,140 Direction for Thursday August 20 2009; ∇ Down |
| |
Post added on August 20,2009 |
|
|
| 18 August 2009 BMO |
| |
U.S. MARKETS RECAP : Monday, August 17, 2009 AMC  Quote:
Briefing.com - Monday August 17 2009 @ 16:33 ET AMC
Daily Sector Wrap : U.S. Stocks Follow Drop in Global Indices
Profit taking in the wake of slower-than-expected economic growth in Japan triggered a global sell-off that sent stocks below their recent trading ranges and handed the major U.S. indices their worst single-session percentage loss in six weeks.
With stocks looking overextended in the near term, overseas participants moved against stocks upon learning that Japan's economy expanded at a slower-than-expected rate of 0.9% in the second quarter. In turn, Japan's Nikkei shed 3.1%, while several other major Asian averages also finished with losses exceeding 3%. Stocks in Europe followed suit, but their decline wasn't quite as sharp. Overall weakness among the major global indices sent the Dow Jones World Index to a 2.9% loss, which is its worst since April. The steep decline comes just one session after the global index registered a high for 2009.
Emboldened sellers pushed the S&P 500 to a considerably lower start, but that was the extent of the session's excitement -- the benchmark index spent the rest of the session trading sideways in an extremely narrow range. One interesting point, though, was that the stock market's pullback didn't bring out any buyers looking to buy the dip as has been the case in recent weeks. The absence of that support left the stock market to fall to its lowest level since July.
All 10 major sectors in the S&P 500 finished lower. Financials suffered the most by dropping 4.3%. Banks were sharply out of favor as diversified banks fell 5.1% and regional banks dropped 5.8%.
Consumer discretionary stocks (-3.2%) also suffered. Broader market weakness, along with an earnings miss and a disappointing forecast from Lowe's (LOW 20.47, -2.36) weighed on the group.
Health care stocks held up rather well, however. The sector actually spent most of the session in the green, but faltered into the close and settled with a fractional loss. Managed health care providers (+2.7%) underpinned the sector's relative strength, thanks to news that President Obama is willing to accept insurance cooperatives instead of a government-run insurance plan.
Even though health care is the third largest sector by market weight in the S&P 500, its relative strength wasn't enough for the broader market, which saw more than 90% of its holdings finish in the red.
The broader market was also unimpressed by news that the Empire State Manufacturing Index posted its first positive reading since April 2008 by coming in at a better-than-expected 12.08. It was also the best reading since November 2007.
Participants were also largely unsurprised by news that the Fed and Treasury opted to extend the Term Asset-backed Securities Lending Facility (TALF) in order to help keep credit and liquidity conditions greased. The announcement, along with broader market weakness, did bolster buying among Treasuries, though. That helped the benchmark 10-year Note climb a robust 28 ticks, which pushed its yield below 3.5% for the first time since July.
|
None Leading Industries: Health Care Technology +3.72%, Managed Health Care +2.67%, Health Care Facilities +1.68%, Health Care Services +1.00%, No other groups more than 1% Lagging Sectors: Financials (-4.26%), Tech (-2.65%), Health Care (-0.03%), Consumer Staples (-0.89%), Consumer Discretionary (-3.16%), Industrials (-2.88%), Energy (-3.10%), Telecom (-1.99%), Materials (-3.73%), Utilities (-1.34%) Lagging Industries: Industrial REITs -8.90%, Home Entertainment Software -8.07%, Diversified REITs -7.57%, Retail REITs -7.15%, Diversified Metals & Mining -6.73%, Aluminum -6.49%, Coal & Consumable Fuels -6.27%, Steel -6.19%, Home Improvement Retail -6.16%, Building Products -6.09% NYSE:Higher than avg volume @ 1220 vs. 1186 avg Decliners outpacing Advancers : 336/2728 New highs outpacing new lows : 22/7 NASDAQ:Lower than avg volume @ 1939 vs. 2202 avg Decliners outpacing Advancers : 469/2184 New lows outpacing new highs : 9/12 Other Market Moving Factors:• Global indices weighed down by disappointment following smaller-than-expected growth from Japan's economy • NY Manufacturing Index shows first positive reading since April 2008 and strongest reading since November 2007 • Fed and Treasury extend TALF Quote:
Briefing.com - Monday August 17 2009 @ 16:47 ET AMC
After-Hours Report : Agilent Reports Earnings
Price level versus 4 pm ET : Profit taking in the wake of slower-than-expected economic growth in Japan triggered a global sell-off that sent stocks below their recent trading ranges and handed the major U.S. indices their worst single-session percentage loss in six weeks.
All ten of the sectors fell. The worst performing areas were financials (-4.3%) and materials (-3.7%). Defensive sectors outperformed on a relative basis, with healthcare settling near the unchanged mark.
Futures are flat after hours, S&P 500 futures, at 977.00 are below fair value by one point and Nasdaq 100 futures, at 1565.50 are above fair value by one point.
|
_______________________________________
U.S Markets - Tuesday August 18 2009 - BMO
TECHNICAL UPDATEDOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9135.34, -186.06 (-2.00%) NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 1930.84, -54.68 (-2.75%) S&P 500 INDEX (SPX: CBOE) 979.73, -24.36 (-2.43%) __________________________________________ Current MarketsAsian Markets Tuesday August 18 2009 @ Aug 18 7:28am: HANG SENG 20,305.92 ( +168.27 +0.84% ) NIKKEI 225 10,284.96 ( +16.35 +0.16% ) KLSE 1,164.41 ( -4.64 -0.40% ) STI 2,567.72 ( +21.74 +0.85% ) Currencies Tuesday August 18 2009 @ Aug 18 7:28am: U.S. Dollar vs Euro ( +0.0036 +0.26% ) 1.4104 U.S. Dollar vs Yen ( +0.47 +0.50% ) 0.0105 U.S. Dollar vs UK £ ( +0.01 +0.75% ) 1.65 Treasury Yields :  2 Year Note 1.01% -0.05 • 5 Year Note 0.41% -0.0810 Year Note 0.78% -0.09 • 30 Year Note 1.41% -0.08Gold (CMX ) December 09 ($US per Troy oz.) : 935.80 ( -12.90) Light Crude (NYM ) September 09 ($US per bbl.) : 66.75 ( -0.76) Earnings Highlights for Tuesday August 18 2009CAH , CIT , FREE , GIGM , HD , PRGO , SKS , SOLF , TGT , TJX , ADI , GA , HSTX , HPQ , JKHY , LZB , LFT , SUMT Events for Tuesday August 18 200908:30 Housing Starts 08:30 Building Permits 08:30 PPI 08:30 Core PPI ___________________________________________ Summary"Stocks ready to rebound" : http://money.cnn.com/2009/08/18/mark...ion=2009081807"Clunkers: Toyota passes GM as top seller" : http://money.cnn.com/2009/08/17/auto...ion=2009081717"Banks still reluctant to lend" : http://money.cnn.com/2009/08/17/news...ion=2009081716"Home Depot profits better than expected" : http://money.cnn.com/2009/08/18/news...ion=2009081808Positive news from HD would have a bullish effect but Housing data not as good as expected. From my point of view its going to be a downside consolidation. Brace for 9,100. Resistance levels @ 9,190 and 9,250 Support levels @ 9,100 and 9,000 Direction for Tuesday August 18 2009; ∇ Down |
| |
Post added on August 18,2009 |
|
|
| 26 May 2009 - BMO |
| |
[B][CENTER][SIZE="4"]U.S. MARKETS RECAP : Monday 26 May to Friday 29 May 2009[/SIZE][/CENTER][/B]
[CENTER][IMG]http://dukealvinlim.com/watimage/2009May/MarketWeekPerfMay18_22.jpg[/IMG][/CENTER] [QUOTE][SIZE="2"]
Originally Posted by [B]Briefing.com[/B]
Friday 22 May 2009 @ 16:38 AMC
[B][I]Weekly Wrap :[/B]The stock market kicked off the week with a strong start, but gave up a substantial portion of the advance throughout the week, eventually settling with modest 0.5% gain. Economic data did not help matters with the number housing starts falling to a record low, and the number of continuing unemployment claims hitting a fresh record high. Stocks surged on Monday, led by a 7.2% gain in financials as Bank of America (BAC) rallied after being added to Goldman Sachs' Conviction Buy List. Goldman cited "another solid mortgage and capital markets quarter, given observable activity levels since March." Lowe's (LOW) also added to the bullish sentiment after the home improvement retailer posted better-than-expected earnings and issued upside guidance. But the positive bias was short-lived. Economic data were poor. The housing industry remains weak, with both housing starts and building permits falling to record laws. Starts fell -12.8% from March to an annualized rate of 458,000 units (consensus 520,000) while permits dropped -3.3% to an annualized rate of 494,000 (consensus 530,000). Meanwhile, initial unemployment claims for the week ended May 16 totaled 631,000 (consensus 625,000), which was down from an upwardly revised reading of 643,000 (from 637,000) in the prior week. Continuing claims jumped by 75,000 to a record 6.662 million, which brought the four-week moving average for this series to 6.48 million from 6.35 million. This reflects the weak U.S. labor market. The Fed released the minutes from the April FOMC meeting, which didn't bring much in terms of surprises. The Fed did, however, lower its real GDP projections for 2009, 2010, and 2011. The FOMC also discussed increasing purchases of agency and Treasury securities, but all members felt it was appropriate to wait further to see how policy actions implemented to date influence the economy and financial conditions before adjusting the size and timing of such purchases. The U.K. had its sovereign debt rating outlook downgraded to negative from stable at Standard & Poor's, which cited an increasing debt-to-GDP ratio. In turn, this spurred a sharp decline in the dollar and Treasuries on concern that the U.S. may also face a negative outlook on its AAA rating. For the week, the dollar fell 3.6%. The drop in the dollar gave commodities a boost, with crude prices surging 9.4% and the CRB Index advancing 3.3% In corporate news, earnings flow was on the slow side, although there were a larger number of retailers announcing their quarterly results. For the most part, earnings were better than expected, with Target (TGT), Saks (SKS), TJX (TJX), Lowe's (LOW), Home Depot (HD), Sears (SHLD), and Gap (GPS) beating estimates. Outside of retail, Hewlett-Packard (HPQ) reported in-line earnings, while Deere (DE) beat but provided downside guidance. There was some action on Capitol Hill, with Treasury Secretary Geithner testifying before the Senate Banking Committee and House Financial Services regarding the state of the financial market. In addition, the Senate passed a bill increasing restrictions on the credit card industry, which was subsequently signed into law by President Obama. Meanwhile, General Motors (GM) was back in the news on word it reached an agreement with the UAW, though it still has to reach a deal with bondholders. In the end, six of the 10 sectors advanced. Materials (+2.6%) led the way thanks gains in commodities. The telecom sector (-3.2%) was the main laggard. The U.S. stock and bond markets are closed Monday in observance of Memorial Day.
[CENTER][IMG]http://dukealvinlim.com/watimage/2009May/MarketWeekSummaryMay18_22.jpg[/IMG][/CENTER]
[/I][/SIZE][/QUOTE] [B][CENTER][SIZE="4"]U.S. MARKETS RECAP : Friday 22 May 2009[/SIZE][/CENTER][/B]
[CENTER][IMG]http://dukealvinlim.com/watimage/2009May/MarketPerfMay22.jpg[/IMG][/CENTER] [QUOTE][SIZE="2"]
Originally Posted by [B]Briefing.com[/B]
Friday 22 May 2009 @ 17:03 ET AMC
[B][I]Daily Sector Wrap : Financials Rally After Stress Test Results[/B]
The major indices spent the majority of a quiet, low volume session trading in positive territory, but some late selling pressure led stocks to close with a modest loss. Still, stocks were able to log a weekly gain (+0.5%). Stocks have advanced in nine of the last 11 weeks. Action was largely listless for the entire session. Financial stocks, which have proven integral to the market's advances in recent weeks, actually lagged the broader market and finished 1.2% lower, worse than any other major sector. Banks were the primary drag on the financial sector. Diversified banks slid 2.6% and regional banks slipped 1.8%. Analysts at Deutsche Bank stated that they believe many bank stocks are expensive by valuation, given the dilutive impact of recent stock offerings. Though banks have been looking to raise capital in the wake of the government's bank stress tests, an official from the FDIC indicated that additional assessments on banks are probable, according to Dow Jones. Meanwhile, Reuters reported that the FDIC expects losses in its deposit insurance fund to total $70 billion during the next five years. Despite a slow start, materials stocks were able to garner support and trade with strength for most of the session. The sector was able to hold on to a 0.2% gain in the face of late selling pressure, thanks partly to an uptick in commodities prices. The CRB Commodity Index advanced 0.7% for the session and 3.3% for the week as the Dollar Index extended its slide to fresh lows for 2009. Treasuries were also forced to grapple with continued selling pressure. The benchmark 10-year Note fell 22 ticks, pushing its yield to a 2009 high of 3.45%. Treasuries are being pulled lower by the Treasury's efforts to add supply, even though the Fed is buying Treasuries to help prop up longer end prices in order to keep lending rates from escalating. There wasn't any economic data released today, and only a handful of corporate headlines. Both Sears Holdings (SHLD 58.40, +5.21) and Gap (GPS 16.39, +0.41) posted better-than-expected earnings, which helped retailers outperform the broader market for most of the session. They finished with a 0.1% gain. Automakers tumbled 2.9% amid reports that bondholders refused to take an equity stake in General Motors (GM 1.43, -0.49). Separate reports indicate that the company has reached much needed concessions with the United Auto Workers union, and that the company is not going to be pushed into bankruptcy next week. Overall, advancing issues and decliners were evenly balanced, while trading volume was exceptionally low, suggesting there wasn't much conviction in the market's moves. Little more than 1 billion shares traded hands on the New York Stock Exchange as participants entered vacation mode ahead of Memorial Day (stock and bond markets will be closed Monday, May 25 for holiday observance). Trading volume during the past 20 sessions has averaged more than 1.5 billion shares.
[/I][/SIZE][/QUOTE] [B]Market Internals for Friday May 22 2009[/B] [B][COLOR="DarkGreen"]Leading Sectors: [/COLOR][/B]Consumer Staples (+0.44%), Consumer Discretionary (+0.33%), Energy (+0.22%), Materials (+0.15%), Utilities (+0.68%)
[B][COLOR="DarkGreen"]Leading Industries: [/COLOR][/B]Agricultural Products +5.11%, Personal Products +3.77%, Specialized Finance +2.54%, Paper Products +2.42%, Oil & Gas Drilling +2.24%, Footwear +2.06%, Forest Products +1.92%, Office Services & Supplies +1.88%, Movies & Entertainment +1.78%, Restaurants +1.60% [B][COLOR="Red"]Lagging Sectors: [/COLOR][/B]Financials (-1.21%), Tech (-0.46%), Health Care (-0.07%), Industrials (-0.23%), Telecom (-0.52%)
[B][COLOR="Red"]Lagging Industries: [/COLOR][/B]Industrial REITS -4.48%, Consumer Finance -3.91%, Photographic Products -3.86%, Diversified REITs -3.09%, Automobile Manufacturers -2.90%, Casinos & Gaming -2.75%, Fertilizers & Agricultural Chemicals -2.70%, Aluminum -2.63%, Residential REITs -2.61%, Office REITs -2.59% [B]NYSE:[/B]
[COLOR="red"][B]Lower[/B][/COLOR] than avg volume @ 1056 vs. 1619 avg
[B][COLOR="green"]Advancers [/COLOR][/B]outpacing Decliners : 1975/1687
New [B][COLOR="red"]lows [/COLOR][/B]outpacing new highs : 17/42 [B]NASDAQ:[/B]
[COLOR="red"][B]Lower[/B][/COLOR] than avg volume @ 1595 vs. 2347 avg
[B][COLOR="red"]Decliners [/COLOR][/B]outpacing Advancers : 1220/1472
New [B][COLOR="green"]highs [/COLOR][/B]outpacing new lows : 26/13 [B]Other Market Moving Factors:[/B]
• No economic data on tap and corporate headlines slow ahead of the long weekend (stock and bond markets will be closed Monday for Memorial Day observance)
• U.S. dollar extends downturn [CENTER]_______________________________________ [B][SIZE="4"]PREVIEW FOR 25 May to 29 May, 2009[/SIZE][/B]
[/CENTER] [B]EARNINGS VIEW FOR WEEK OF 25 May to 29 May, 2009[/B]
[B]Monday:[/B]
None. [B]Tuesday:[/B]
CSIQ , REDF , JRJC , DCI , TTWO , TMRK [B]Wednesday:[/B]
AEO , AZO , BWS , CHRS , CHS , CSUN , CBRL , DLTR , DSW , FLO , HOKU , RL , ROLL , SPLS , SYNO , ZLC , AFCE , BCSI , CWTR , DMND , HEI , JAS , NZ , SIGM , TIVO [B]Thursday:[/B]
ACAT , BIG , COST , FRED , FREE , GCO , HNZ , MENT , MNRO , MOV , PERY , SAFM , SCVL , SCMR , TSL , DELL , ESL , JCG , MRVL , NOVL , OVTI , SGK , SINA , WTSLA [B]Friday:[/B]
FRO , QSII , TIF ___________________________________________ [B]ECONOMIC VIEW FOR WEEK OF 25 May to 29 May, 2009[/B]
[B]Events for Monday 25 May[/B]
None. [B]Events for Tuesday 26 May[/B]
09:00 S&P/CaseShiller Home Price Index
10:00 Consumer Confidence [B]Events for Wednesday 27 May[/B]
10:00 Existing Home Sales [B]Events for Thursday 28 May[/B]
08:30 Durable Goods Orders
08:30 Durables, Ex-Transport
08:30 Initial Claims
10:00 New Home Sales
11:00 Crude Inventories [B]Events for Friday 29 May[/B]
08:30 GDP - Prelim.
08:30 GDP Deflator
09:45 Chicago PMI
09:55 Mich Sentiment-Rev ___________________________________________
[B]TECHNICAL UPDATE[/B]
[B]DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 8,277.32, [COLOR="red"]-14.81 (-0.18%)[/COLOR][/B]
[URL=http://dukealvinlim.com/watimage/TADOWMay22.jpg][IMG]http://dukealvinlim.com/watimage/TADOWMay22s.jpg[/IMG][/URL]
[B]NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 1,692.01, [COLOR="red"]-3.24 (-0.19%)[/COLOR][/B]
[URL=http://dukealvinlim.com/watimage/TANASDAQMay22.jpg][IMG]http://dukealvinlim.com/watimage/TANASDAQMay22s.jpg[/IMG][/URL] [B]S&P 500 INDEX (SPX: CBOE) 887.00, [COLOR="red"]-1.33 (-0.15%)[/COLOR][/B]
[URL=http://dukealvinlim.com/watimage/TAS&PMay22.jpg][IMG]http://dukealvinlim.com/watimage/TAS&PMay22s.jpg[/IMG][/URL] __________________________________________ [B]Current Markets[/B] [B]Asian Markets Tuesday May 26 2009 @ May 26 6:57am†: [/B]
[B]HANG SENG[/B] -130.26 ( [COLOR="red"]16991.56 -0.76% [/COLOR] )
[B]NIKKEI 225[/B] -36.19 ( [COLOR="red"]9310.81 -0.39% [/COLOR] )
[B]KLSE [/B] 1,051.63 ( [COLOR="red"]-1.51 -0.14% [/COLOR] )
[B]STI [/B] 2,238.79 ( [COLOR="red"]-28.67 -1.26% [/COLOR] ) [B]Currencies Tuesday May 26 2009 @ May 26 6:57am†: [/B]
[B]U.S. Dollar vs Euro[/B] ( [COLOR="red"]1.3876 -0.96% [/COLOR] ) -0.0135
[B]U.S. Dollar vs Yen[/B] ( [COLOR="green"]+0.0105 +0.16% [/COLOR] ) 0.15
[B]U.S. Dollar vs UK £[/B] ( [COLOR="red"]1.58 -0.59% [/COLOR] ) -0.01 [B]Treasury Yields : [/B]
[IMG]http://dukealvinlim.com/watimage/yieldcurveMay22.gif[/IMG]
2 Year Note [B]99.96875%[/B] [COLOR="green"]+0.03[/COLOR] • 5 Year Note [B]98.46875%[/B] [COLOR="green"]+0.06[/COLOR]
10 Year Note [B]97.25%[/B] [COLOR="green"]+0.09[/COLOR] • 30 Year Note [B]97.65625%[/B] [COLOR="green"]+0.08[/COLOR] [B]Gold (CMX )[/B] June 09 ($US per Troy oz.) : 958.90 ( [COLOR="green"]+7.70[/COLOR])
[B]Light Crude (NYM )[/B] July 09 ($US per bbl.) : 61.67 ( [COLOR="green"]+0.62[/COLOR]) ___________________________________________
[B]Summary[/B]
"GM's tough road to avoid bankruptcy" : http://money.cnn.com/2009/05/22/news/economy/gm/index.htm?postversion=2009052609 "Homes: Almost 20% cheaper" : http://money.cnn.com/2009/05/26/real_estate/CaseShiller_home_prices_Q1/index.htm?postversion=2009052610 "Stocks get consumer confidence boost" : http://money.cnn.com/2009/05/26/markets/markets_newyork/index.htm?postversion=2009052610 Resistance levels @ 8,350 and 8,430
Support levels @ 8,240 and 8,180 Direction for Monday 26 May 2009; [COLOR="green"][B]∆ Up[/B][/COLOR] Direction for the week 25 May to Friday 29 May, 2009; [COLOR="red"][B]∇ Downside Consolidation[/B][/COLOR]
|
| |
Post added on May 26,2009 |
|
|
| 1 2 |
| |
|
| |
|
| |
|
|
