| | | | | | | | | |
| | US Market |  | | Shanghai | Hang Seng | NIKKEI | ASX |  |  |  |  | | | The major U.S. index futures are pointing to a higher opening on Tuesday, with sentiment modestly positive as earnings news continue to be salubrious. While Asian stocks closed mixed, the European markets are rallying on M&A news flow. The domestic markets may also focus on the existing home sales report due to be released shortly after the markets open. That said, the mood could be subdued, given the recent advance.
U.S. stocks advanced on Monday, as earnings news continued to offer support. After opening mixed, the major averages moved uniformly higher in early trading. However, the averages retreated and briefly dipped into negative territory in late morning trading only to recover and advance steadily throughout the remainder of the session.
The Dow Industrials ended 40.71 points or 0.25 percent higher at 16,449 and the S&P 500 Index closed at 1,872, up 7.04 points or 0.38 percent. The Nasdaq Composite Index outperformed with a 26.03 point or 0.64 percent rally to end at 4,122.
Seventeen of the thirty Dow components advanced, while the remaining thirteen stocks receded. Home Depot , IBM , Johnson & Johnson , Merck and Pfizer were among the best performers of the session. On the other hand, UnitedHealth and Disney declined notably.
Among the sectors, pharmaceutical, biotechnology, Oil service and computer hardware stocks saw notable buying interest.
On the economic front, the Conference Board reported that its leading economic indicators index rose by a better than expected 0.8 percent month-over-month in March following a 0.5 percent increase in February.
The Dow Industrials has bounced below a resistance on Monday and currently finds itself constrained by the 16,403 level. Further above, the index also has resistance around the 16,482, 16,524 and 16,572 levels. On the downside the index has support around 16,403, its 21-day MA (currently at 16,343), 16,271, its 50-day MA (currently at 16,255) and its 100-day MA (currently at 16,181). |
| | 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 is scheduled to release its house price index for February at 9 am ET. Economists expect the house price index for the month to increase by a seasonally adjusted 0.3 percent month-over-month following a 0.5 percent increase in January.
The National Association of Realtors is scheduled to release its existing home sales report for March at 10 am ET. The consensus estimate calls for existing home sales to come in at a seasonally adjusted annual rate of 4.56 million units.
Existing home sales slipped 0.4 percent month-over-month to a seasonally adjusted annual rate of 4.60 million units in February. Existing home sales fell in the Northeast and the Midwest, while sales were up in the South and West. The median price of an existing home rose to $189,000 in February, up 9.1 percent year-over-year. Inventories of existing homes measured in terms of months of supply rose to 5.2 months in February, while in absolute terms, inventories increased to 120,000.
The Richmond Federal Reserve will release its manufacturing index for April at 10 am ET. Economists expect the index to come in at 0 compared to a reading of -7 for March.
The Treasury Department is due to announce the results of its auction of 2-year notes at 1 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 | | | Netflix reported first quarter earnings of 86 cents per share on revenues of $1.27 billion. The earnings were ahead of estimates and the revenues were in line. The company's second quarter earnings guidance was strong.
McDonald's reported first quarter that trailed estimates. Meanwhile, United Technologies reported better than expected first quarter results and also raised its 2014 adjusted earnings per share outlook. Travelers Companies' earnings were ahead of estimates. Comcast reported better than expected first quarter results. Harley-Davidson also released first quarter earnings that beat estimates.
Rent-A-Center reported first quarter adjusted earnings of 57 cents per share on revenues of $833.7 million. The earnings beat estimates, while the revenues were shy of estimates. For 2014, the company expects earnings of $2.30-$2.50 per share, including a 25 cents per share dilution related to Mexico, on revenue growth of 3-6 percent. The guidance was positive.
Rambus reported first quarter non-GAAP earnings of 17 cents per share on revenues of $78.3 million. For the second quarter, the company expects revenues of $69 million to $74 million. The results exceeded estimates but the guidance was weak.
Forward Air reported first quarter net income of 33 cents per share on operating revenues of $171.6 million. The revenues were roughly in line with estimates. The company's second quarter earnings guidance was in line.
Zions Bancorp. reported first quarter net earnings of 41 cents per share on revenues of $554.79 million. The earnings missed estimates, while the revenues were ahead of expectations.
Responding to the public filings made by Valeant Pharma and Pershing Square regarding Valeant's intention to propose a cash and stock merger, Allergan (AGN) said its board will evaluate any such proposal if received. The company advised its stockholders not to take any action at this time. The deal is rumored to be valued at around $40 billion.
Amgen , AT&T (T), AmSurg , Cree , Discover Financial Services (DFS), FMC Tech , Fulton Financial , Gilead Sciences , Illumina , International Game Technology , Intuitive Surgical , Juniper Networks , Nabors Industries , Sanmina , Skyworks , Unisys , Vmware and Yum Brands are among the companies due to release their quarterly results after the close of trading.
|
| | 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 are advancing strongly, helped by M&A news and the positive cues from Wall Street yesterday.
In corporate news, Philips reported first quarter earnings that trailed estimates, hurt by currency impact, and the company cautioned that the year ahead would be challenging.
Meanwhile, Novartis said it would buy GlaxoSmithKline's cancer drug business for about $16 billion and also stated that it would form a consumer health joint venture business with GlaxoSmithKline.
Novartis also agreed to sell its Animal Health business to Eli Lilly for about $5.4 billion in cash.
|
| | Asian Markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | The major Asian markets closed mixed, with The Japanese and Hong Kong markets moving to the downside, while most other major markets advanced.
Japan's Nikkei 225 Index opened higher and stayed above the unchanged line till late trading. However, the index pulled back below the unchanged line amid a rebound by the yen and closed down 123.61 points or 0.85 percent. Export stocks moved mostly to the downside, while tire makers, chemical, utility and food stocks gained ground.
Meanwhile, Australia's All Ordinaries hovered above the unchanged line throughout the session before closing up 22.30 points or 0.41 percent at 5,467. Most sectors advanced, led by energy stocks, although material stocks came under selling pressure.
China's Shanghai Composite rebounded by 7 points or 0.34 percent, ending at 2,073, while Hong Kong's Hang Seng Index ended 29.56 points or 0.13 percent lower at 22,731.
On the economic front, a report released by the Conference Board showed that its leading economic indicators index for Australia rose 0.3 percent month-over-month in February following a 0.2 percent increase in January, marking the 17th straight month of growth.
Japan's leading economic indicators index fell less than estimated in February, according to the final results of a survey by Japan's Cabinet Office. The leading economic indicators index fell to 108.9 in February from 113.5 in the prior month. However, the score was above the preliminary estimate of 108.5.
At the same time, the coincident index that measures the current economic situation fell to 113 in February from 114.9 a month ago. The preliminary estimate for February was 113.4.
|
| | 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 falling $1.25 to $103.12 a barrel after edging up $0.07 to $104.37 a barrel on Monday. Gold futures are rising $0.70 to $1,289.20 an ounce. On Monday, Gold fell $5.40 to $1,288.50 an ounce.
Among currencies, the U.S. dollar is trading at 102.52 yen compared to the 102.62 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is trading at $1.3817 compared to yesterday's $1.3793.
|
| | | | | | | 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