| | | | | | | | | |
| | US Market | The major U.S. index futures are pointing to a higher opening on Tuesday, with sentiment reflecting a reversal in sentiment following yesterday's retreat. European stocks are on a rebound despite lingering concerns about Ukraine and the release of a report showing a decline in German business sentiment. The domestic markets may draw some encouragement from the results of two separate house price surveys, which increased optimism about the housing market. The new home sales and consumer confidence data, both due before the markets open, may also give some direction to the markets.
U.S. stocks closed Monday's session lower amid a lack of any compelling catalysts. The major averages opened higher but pulled back into the red in early trading. After declining till the mid-session, the averages trimmed their losses over the remainder of the session before closing lower.
The Dow Industrials fell 26.08 points or 0.16 percent to 16,277 and the S&P 500 Index closed 9.08 points or 0.49 percent lower at 1,857, while the Nasdaq Composite underperformed by virtue of its 50.40 point or 1.18 percent drop to 4,226.
Seventeen of the thirty Dow components closed lower, with Disney , Home Depot , Merck , Pfizer and Visa (V) leading the declines. On the other hand, JP Morgan Chase and Procter & Gamble rose strongly.
Biotechnology, gold, Oil service, retail and computer hardware stocks were among the worst performers of the session.
With yesterday's retreat, The Dow Industrials broke below its 21-day MA (currently at 16,285). If the downward move continues, the index has support around 16,203, its 50-day MA (currently at 16,127) and its 100-day MA (currently at 16,074). On the upside, the index has resistance around its 21-day MA, 16,320, 16,376, 16,466 and 16,535.
|
| | No platform or data fees with no trade minimums | | Trade free for 60 days + get up to $600 cash. Join TD Ameritrade 
|
| | US Economic Reports |  | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | The Federal House Finance Agency's house price survey showed that its house price index rose 0.5 percent month-over-month, slightly more than the 0.4 percent increase forecast by economists.
The house price index based on the survey by S&P and Case-Shiller showed a 0.8 percent month-over-month increase. Economists had expected a more modest 0.7 percent increase for the month.
The Richmond Federal Reserve is scheduled to release its manufacturing index for March at 10 am ET. The consensus estimate calls for an improvement in the index to 3 in March from -6 in February.
The Commerce Department is scheduled to release its new home sales report for February at 10 am ET. Economists estimate new home sales to come in at a seasonally adjusted annual rate of 440,000 compared to 468,000 in January.
New home sales rose 9.6 percent to a seasonally adjusted annual rate of 468,000 in January from the revised rate of 427,000 in the previous month. Sales of new homes were higher in the Northeast, South and West but declined in the Midwest. The median price of a new home sold in January was $260,100, up 3.4 percent year-over-year but down 2.2 percent month-over-month.
Around the same time, the Conference Board is due to release its consumer confidence index for March. The consensus estimate calls for a small increase in the index to 78.4 from 78.1 in February.
The consumer confidence index fell to 78.1 in February from 79.4 in January. The expectations index slipped 5.1 points to 75.7, while the present situation index rose to 77.3 from 81.7.
The Treasury will announce the results of its auction of 2-year notes at 1 pm ET.
Atlanta Federal Reserve Bank President Dennis Lockhart will participate in a fireside chat on the economic outlook in Atlanta at 4 pm ET. Philadelphia Federal Reserve Bank President Charles Plosser is due to speak on the economic outlook and monetary policy in New York at 7 pm ET.
|
| | Retired Talk Show Host Reveals Shocking Secret | | "Almost anyone can collect income checks from the government," he says. "And it's all tax-free." Read More |
| | Stocks in Focus | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | Walgreen (WAG) reported second quarter adjusted earnings that trailed expectations but net sales came roughly in line with estimates.
Cache reported a loss for its fourth quarter that was wider than what analysts had expected. However, net sales beat estimates.
McCormick reported better than expected first quarter results and reaffirmed its 2014 guidance.
Disney announced an agreement to buy Maker Studios, a network of online video content on YouTube, for $500 million and a performance-linked earn-out of up to $450 million if strong performance targets are met.
Moneygram announced an underwritten secondary public offering of 8 million shares of its common stock by affiliates and co-investors of Thomas H. Lee Partners and affiliates of Goldman Sachs. Additionally, the company announced its intention to repurchase about $150 million of its common stock from selling shareholders concurrently with the closing of the offering. The company expects the share buyback to add 10 cents on a pro forma basis to its adjusted earnings per share for 2013.
|
| | No platform or data fees with no trade minimums | | Trade free for 60 days + get up to $600 cash. Join TD Ameritrade
|
| | European Market | | European stocks opened higher and are continuing to trade in positive territory following yesterday's Sharp retreat. All three of the major averages in the region are notably higher.
In corporate news, U.K. home improvement retailer Kingfisher reported higher profits and sales for its fiscal year.
Wolseley also reported a strong increase in its pre-tax profits for the six months ended January 31st, while its sales rose modestly. The company now forecasts 4 percent revenue growth on a comparable basis for the remainder of the year.
Low cost carrier easyJet now sees a narrower than earlier estimated loss for its first half, as milder winter weather proved conducive for travel.
On the economic front, the results of IfO's survey showed that its business confidence index for Germany came in slightly below expectations at 110.7 in March, down from 111.3 in February. The expectations index was at 106.4, below the expected reading of 107.7, while the current conditions came in better than estimates at 115.2.
Inflation data released by the U.K. Office for National Statistics showed that U.K. inflation slowed in February, as expected, to a four-year low on lower transport prices. Consumer prices rose 1.7 percent year-over-year after increasing 1.9 percent in January.
|
| | Asian Markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | Most Asian markets closed lower, hurt by the negative lead from Wall Street overnight. The Japanese, Australian, Hong Kong, Indonesian, Malaysian, Singaporean and South Korean markets retreated, while the Chinese, New Zealand and Taiwanese markets bucked the downtrend.
Japan's Nikkei 225 average opened lower and languished below the unchanged line till late afternoon trading. After staging an unsteady recovery in the afternoon, the index pulled back in late trading before closing down 52.11 points or 0.36 percent at 14,423. Most export stocks gained ground, while construction real estate and utility stocks moved to the downside.
Australia's All Ordinaries languished below the unchanged line throughout the session and ended down 11.10 points or 0.21 percent at 5,351. Energy and healthcare stocks led the retreat, with most sectors showing weakness, barring some defensive real estate, telecom and consumer staple stocks.
Hong Kong's Hang Seng Index ended at 21,732, down 114.13 points or 0.52 percent, while China's Shanghai Composite Index closed 1.03 points or 0.05 percent higher at 2,067.
On the economic front, confidence among Japan's small and medium-sized enterprises improved notably in March after dropping in the previous month, according to data released by the Shoko Chukin Bank. The business confidence index moved up to 53.5 in March from 50.6 in February.
|
| | The gun debate reveals game-changing technology | | And provides proof that we could be at the exact tipping point to deliver monster-sized gains.
Read more... |
| | Currency and Commodities Markets | | Crude Oil futures are rising $0.56 to $100.16 barrel after adding $0.14 to $99.60 a barrel on Monday. Gold futures are edging up $0.06 to $1,311.80 an ounce. In the previous session, Gold tumbled $24.80 to $1,311.20
Among currencies, the U.S. dollar is trading at 102.36 yen compared to the 102.24 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.3807 compared to yesterday's $1.3839.
|
| | | | | | | To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49 | |
No comments:
Post a Comment