| | | | | Warren Buffett Guarantees He Could Compound Your Money At 50% Per Year | | All by following this overlooked method. It's Simple To Follow And
Buffett Guarantees He Could Do It.Learn what it is and why he can't
use it...but you can!
Click Here to See | | |
| | US Market | | The major U.S. index futures are pointing to a mixed opening on Thursday, with sentiment turning nervous as the major averages remain in the overbought zone. Among the key events that could influence trading, jobless claims for the recent reporting week rose more than expected and trade deficit unexpectedly widened. Across the Atlantic, the European Central Bank decided to leave interest rates unchanged. Against the backdrop, traders may prefer to remain cautious, especially as the non-farm payrolls report is due tomorrow.
U.S. stocks rose for the fourth straight day on Wednesday, thanks to strong private payrolls numbers. The major averages opened on a mixed note and showed nervousness in early trading. Thereafter, the averages held mostly above the unchanged line before closing modestly higher, with the S&P 500 Index setting another record closing high.
The Dow Industrials rose 40.39 points or 0.24 percent to 16,573, closing just shy of its all-time closing high of 16,577. The S&P 500 Index closed 5.38 points or 0.29 percent higher at 1,891, and the Nasdaq Composite ended at 4,277, up 8.42 points or 0.20 percent.
Twenty of the thirty Dow components closed higher, with Caterpillar , Pfizer and UnitedHealth leading the gains.
Airline and Gold stocks were among the best performers of the session, while most of the other major sectors showed more modest moves.
On the economic front, the results of ADP's private sector jobs survey showed that the U.S. private sector added 191,000 jobs in March, roughly in line with the estimated 195,000 increase. The previous month's job growth was upwardly revised to 178,000 from 139,000.
Of the 191,000 job additions, 28,000 came from the goods producing sector, while the service sector added 164,000 jobs. In the goods producing sector, the construction sector added 20,000 jobs, and the manufacturing sector saw a net addition of 5,000 jobs.
The Commerce Department reported that factory orders rose a better than expected 1.6 percent month-over-month in February.
The Dow Industrials is tantalizingly close to its record high, and if the momentum is sustained, it could challenge its all time closing high of 16,577 and all time intraday high around 16,590. However, if the index stumbles in the wake of overbought fears, it could find support around 16,533, 16,461, 16,367, its 21-day MA currently at 15,334, 16,207 and its 50 and 100-day MAs currently each lying close to the 16,126 level. |
| | 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 | | | Amid an increase in imports and a drop in exports, the U.S. trade deficit unexpectedly widened in the month of February, according to a report released by The Commerce Department on Thursday.
The Commerce Department said the trade deficit widened to $42.3 billion in February from a revised $39.3 billion in January. Economists had been expecting the trade deficit to narrow to $38.5 billion from the $39.1 billion originally reported for the previous month.
After reporting an unexpected decrease in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing that jobless claims rebounded by more than expected in the week ended March 29th.
The report said initial jobless claims climbed to 326,000, an increase of 16,000 from the previous week's revised figure of 310,000. Economists had expected jobless claims to rise to 320,000 from the 311,000 originally reported for the previous week.
Markit is scheduled to release the results of its service sector survey for March at 9:45 am ET. Economists estimate an increase in the service index to 53.9 from 53.3 in February.
The Institute for Supply Management is due to release the results of its service sector survey for March at 10 am ET. The consensus estimate calls for an increase in the index to 53.3 in March from 51.6 in February.
Service sector activity expanded at a notably slower pace in February. The non-manufacturing index fell 2.4 points to 51.6. Of the 18 industries surveyed, 7 saw growth, while 8 industries experienced contraction. The employment index fell sharply to 47.5 from 56.4, while the new orders index edged up 0.4 points to 51.3 and the order backlogs index rose 3 points to 52.
The Treasury will make announcements concerning next week's auctions of 3-year and 10-year notes and 30-year bonds at 11 am 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 | | | Resources Connection reported third quarter net income of 6 cents per share on revenues of $132.7 million, down 3.8 percent year-over-year. The earnings exceeded estimates, while the revenues were below estimates. The company also said it would cut jobs in its European operations due to continued weakness in Europe. Towards the action, the company expects to take a severance charge of 7 cents per share in its fourth quarter, while it estimates annual savings from these actions of 12 cents per share beginning in fiscal year 2015.
ADTRAN revised its first quarter guidance, citing a slower start to spending with its tier 2 and tier 3 service provider customers. Accordingly, the company now expects revenues of $146 million to $147 million, trailing the $155.91 million estimate. However, the company expects non-GAAP earnings of 20-21 cents per share, ahead of expectations, due to significant improvement in margins. Citing a notable increase in bookings in the first quarter, the company said it expects revenues of $172 million to $180 million for the second quarter, ahead of expectations.
Texas Industries reported a third quarter loss of 76 cents per share, which included several charges that negatively impacted earnings by 43 cents per share. Net sales rose to $207.83 million from $141.36 million last year.
Wasau Paper announced the resignation of its president and CEO Henry Hank Newell, effective immediately, and the appointment of board member Michael Burandt as interim CEO. The company also said its non-executive Chairman Thomas Howatt will retire from the board ahead of its 2014 AGM.
SM Energy announced that its CEO Anthony Best will retire within the next 12 months. The company also noted that its president and COO Javan Ottoson will be promoted to the role of CEO upon Best's retirement.
Gilead Sciences announced that a Phase III clinical trial in Japan evaluating its Hepatitis treatment Sofosbuvir met its primary endpoint of superiority compared to a pre-defined historical control sustained virologic response rate. The company noted that if the treatment is approved by the PMDA, it would be the first product to be launched and marketed by Gilead in Japan.
Exar lowered its fourth quarter revenue guidance, citing delays in high reliability programs and software license revenue as well as continued weakness in the networking market.
Standard & Poor's announced that PacWest Bancorp. will replace ManTech International in the S&P MidCap 400 Index after the close of trading on April 7th. ManTech will replace PacWest Bancorp in the S&P SmallCap 600 Index. |
| | 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 on a mixed note and have been seeing volatility since then. The averages are currently slightly higher, as traders digest Main Street events from both sides of the Atlantic. The European Central Bank announced its monetary policy decision, holding rates unchanged despite euro area inflation dipping to an over 4-year low of 0.5 percent in March. The decision was in line with expectations.
In major corporate news, Deutsche Lufthansa unveiled plans to split its IT unit into three companies as part of a restructuring to optimize the group portfolio. Carmaker BMW said it recalled 232,098 cars in China, including both imported and locally manufactured vehicles, due to potentially defective screws.
Credit Suisse updated its 2013 results, reflecting an additional after-tax charge of 468 million francs, primarily due to an increase in the litigation provision relating to the ongoing U.S. Justice Department investigation into a U.S. tax-related matter.
On the economic front, final estimates released by Markit Economics showed that the eurozone Composite purchasing managers' index was downwardly revised to 53.1 in March and compares to 53.3 in February. The service sector purchasing managers' index was also downwardly revised to 52.2 from 52.4.
The non-manufacturing purchasing managers' index for the U.K. compiled by CIPS and Markit Economics came in at 57.6 in March versus expectations for a reading of 58.2. |
| | Asian Markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | The Asian markets closed mixed, with the mood remaining apprehensive ahead of some key U.S. economic data and the European Central Bank decision. The Chinese, South Korean and Taiwanese markets retreated, while most other major markets advanced. Some of the optimism reflected by the gains came from measures announced by China to reinvigorate domestic growth.
Japan's Nikkei 225 average opened higher and advanced steadily in the morning. Thereafter, the average moved sideways before closing up 125.56 points or 0.84 percent at 15,072. Most export stocks advanced, as the yen weakened, and construction stocks also received a lift from the measures announced by China.
Australia's All Ordinaries hovered above the unchanged line throughout the session, closing 6.90 points or 0.13 percent higher at 5,416. Consumer, healthcare and telecom stocks gained ground, while financial and material stocks came under selling pressure.
Hong Kong's Hang Seng Index ended at 22,565, up 41.14 points or 0.18 percent, while China's Shanghai Composite Index fell 15.29 points or 0.74 percent to 2,044.
On the economic front, the Australian Bureau of Statistics reported that retail sales in Australia rose 0.2 percent month-over-month in February, missing forecast for a 0.3 percent increase.
A separate report showed that the nation's trade surplus eased to A$1.2 billion in February from A$1.39 billion in January, while economists had expected a smaller surplus of A$850 million. The results of a survey by the Australian Industry Group showed that its index of service sector activity in Australia fell 6.3 points to 48.9 in March.
Markit Economics along with HSBC released revised estimates for their Chinese service sector index for March, which came in at 51.9 in March compared to 51 in February. Meanwhile, the Composite output index that accounts for activity in both the manufacturing and non-manufacturing sectors eased to 49.3 in March from 49.8 in February.
Meanwhile, China announced new measures to perk up domestic growth, with the initiatives aimed at introducing reforms in railways, the urban development program and tax breaks for small and micro enterprises. |
| | 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 slipping $0.12 to $99.50 a barrel after moving down $0.12 to $99.62 a barrel on Wednesday.
The previous session's decrease came amid the release of the petroleum status report, which showed that Crude oil stockpiles fell by 2.4 million barrels to 380.1 million barrels in the week ended March 28th. However, inventories remained in the upper half of the average range.
Gasoline stockpiles fell by 1.6 million barrels and were below the lower limit of the average range. Meanwhile, Distillate inventories edged up by 0.6 million barrels yet remained in the lower limit of the average range.
Refinery capacity utilization averaged 86.3 percent over the four weeks ended March 28th compared to 86.2 percent over the four weeks ended March 21st.
Gold futures, which climbed $10.80 to $1,290.80 an ounce in the previous session, are currently sliding $6.30 to $1,284.50 an ounce.
Among currencies, the U.S. dollar is trading at 103.98 yen compared to the 103.88 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.3765 compared to yesterday's $1.3767.
|
| | | | | | | 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