| | | | | | | | | |
| | US Market |  | | Shanghai | Hang Seng | NIKKEI | ASX |  |  |  |  | | | The major U.S. index futures are pointing to a slightly higher opening on Thursday, with traders likely to exercise restraint as the averages attempt to reclaim their record levels. The gains of the previous session could make traders cautious even as the jobless claims data came in line with expectation. Global cues are mixed, with Asian stocks closing mostly higher, thanks to positive Chinese manufacturing reading, while the European markets are seeing lackluster sentiment amid the release of mixed private sector activity readings. The domestic markets may now turn their focus to manufacturing and housing market readings due to be released shortly after the markets open.
U.S. stocks rebounded on Wednesday, helped by bargain hunting, which gained strength due to the dovish message relayed by the FOMC minutes. The major averages opened higher and moved sideways till early afternoon trading. After dipping slightly ahead of the minutes, the averages advanced steadily for the rest of the session, closing notably higher.
The Dow Industrials ended up 158.75 points or 0.97 percent at 16,533, the S&P 500 Index closed 15.20 points or 0.81 percent higher at 1,888 and the Nasdaq Composite closed at 4,132, up 34.65 points or 0.85 percent.
Twenty-eight of the thirty Dow components closed higher, with Cisco Systems (CSCO), Microsoft (MSFT), Goldman Sachs (GS) and United Technologies (UTX) leading the gains.
Retail, financial and energy stocks were among the best performers of the session.
The Fed minutes provided enough impetus for the Dow Industrials to scale above its 21-day moving average (currently at 16,522) but it was not sufficient to propel the index appreciably higher. If the momentum is sustained, the index could climb further. The new resistance levels for the index are 16,573, 16,646 and 16,714. On the downside, the index has support around 16,447, its 50-day MA (currently at 16,407) and 100-day MA (currently at 16,288). |
| | Get to know Wocket - a next generation smart wallet | | Have all your credit cards, ID and loyalty cards in one biometrically secure device and card! Advance order at www.wocketwallet.com
Wocket is a product of NXT-ID Inc ( OTCQB:NXTD) : The payment industry is about to Change! |
| | Stocks in Focus | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | Semtech (SMTC) reported first quarter non-GAAP earnings of 46 cents per share on net revenues of $132.9 million. For the second quarter, the company expects non-GAAP earnings of 36 to 42 cents per share on net sales of $138 million to $146 million. The results exceeded estimates and the guidance was positive.
Synopsys (SNPS) reported better than expected second quarter results and raised its guidance for the full year, with the revised guidance comparing favorably to estimates.
NetApp (NTAP) reported fourth quarter earnings that exceeded estimates but revenues trailed estimates. The company's first quarter earnings and revenue guidance was weak.
Activision Blizzard (ATVI) announced a public offering of 41.50 million shares of its common stock by Vivendi, with the offer in accordance with the agreements announced in mid-2013.
Williams-Sonoma (WSM) reported first quarter earnings of 48 cents per share on net revenues of $974 million, up 9.7 percent. For the full year, the company expects earnings of $3.07 to $3.17 per share on net revenues of $4.65 billion to $4.73 billion. The results exceeded estimates but the guidance was lukewarm.
SINA (SINA) reported first quarter non-GAAP net income of 15 cents per ADS on net revenues of $171.5 million, up 36 percent year-over-year. The earnings were in line, while its revenues were ahead of estimates. For the second quarter, the company expects non-GAAP revenues of $177 million to $182 million. The guidance was weak.
Arrow Electronics (ARW) announced that its board has approved the repurchase of up to an additional $200 million of common stock.
Logitech (LOGI) announced that the filing of its annual report on Form 10-K for the year ended March 31st, 2014 will be delayed beyond the required filing date of May 30th, 2014 due to an independent investigation of certain accounting matters related to its previously issued financial statements.
Aeropostale (ARO), Aruba Networks (ARUN), Brocade (BRCD), Gamestop (GME), Gap (GPS), Hewlett-Packard (HPQ), Marvell (MRVL), Nordson (NDSN), Ross Stores (ROST), Shoe Carnival (SCVL), TiVo (TIVO) and Zumiez (ZUMZ) are among the companies due to release their quarterly results after the close of trading. |
| | 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 |
| | European Market | | European stocks are seeing some volatility and are currently mixed, as traders digest preliminary private sector activity data from the region.
In corporate news, Mitchells & Butlers reported flat pre-tax profits for the first half even as volume of food sales increased. Daily Mail & General reported higher profits for the first half and issued in line outlook for fiscal year 2014.
Private sector activity data for eurozone released by Markit Economics showed that the composite purchasing managers' index that reflects activity levels in both the manufacturing and service sectors eased to 53.9 in May from 54 in April. The reading was in line with estimates. The manufacturing index slipped 1.1 points to 52.5 and also came in below the consensus estimate of 53.5, while the service sector index rose 0.2 points to 53.5. Meanwhile, the U.K. Office for National Statistics confirmed its preliminary first quarter GDP growth estimate at 0.8 percent. |
| | No platform or data fees with no trade minimums | | Trade free for 60 days + get up to $600 cash. Join TD Ameritrade 
|
| | Asian Markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | The Asian markets moved mostly to the upside, as the positive close on Wall Street overnight and positive Chinese manufacturing data engendered risk appetite in markets. The Japanese market rallied as the yen weakened amid the increase in risk appetite.
Japan's Nikkei 225 average ended up 295.62 points or 2.11 percent at 14,338. A majority of the index components advanced in the session. Australia's All Ordinaries hovered above the unchanged line throughout the session, ending up 54.20 points or 1 percent at 5,458. The market witnessed broad based strength, with energy, material and healthcare stocks gaining ground in the session. Hong Kong's Hang Seng Index closed at 22,954, up 117.24 points or 0.51 percent, while China's Shanghai Composite Index ended down 3.67 points or 0.18 percent at 2,021.
On the economic front, preliminary results of the manufacturing survey by Markit and HSBC showed that manufacturing activity continued to contract, albeit at a notably slower rate. The headline manufacturing purchasing managers' index rose 1.6 points to 49.7 in May, while economists expected a smaller improvement to 48.3. The results of a survey by the Melbourne Institute showed that inflation expectations in Australia rose to 4.4 percent in May from 4.2 percent in April. |
| | 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 receding $0.12 to $103.95 a barrel after climbing $1.74 to $104.07 a barrel on Wednesday.
The previous session’s strength came amid the release of the weekly petroleum status report, which showed that crude oil stockpiles decreased by 7.2 million barrels to 391.3 million barrels in the week ended May 16th. Consequently, inventories dropped near the upper limit of the average range for this time of the year.
Meanwhile, distillate stockpiles rose by 3.4 million barrels and were below the lower limit of the average range. Additionally, gasoline inventories increased by 1 million barrels and were in the middle of the average range. Refinery capacity utilization averaged 89.7 percent over the four weeks ended May 16th compared to 90.2 percent over the four weeks ended May 9nd.
Gold futures, which fell $6.50 to $1,288.10 an ounce in the previous session, are currently rising $13.60 to $1,301.70 an ounce.
Among currencies, the U.S. dollar is trading at 101.61 yen compared to the 101.37 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.3665 compared to yesterday’s $1.3687. |
| | | | | | | 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