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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | | The major U.S. index futures are pointing to mixed opening on Friday, with sentiment still jittery despite some positive news flow. General Electric's capital return program, easing concerns regarding the Greek debt crisis and the general momentum could support market even as valuation concerns limit any potential move to the upside. The global markets have been on a tear, with key indexes in Asia and Europe trading at multi-year highs, while the U.S. averages have also turned positive for the year by virtue of the week's advance. That said, shaky fundamentals and worries over premature monetary policy tightening could serve as an overhang for the markets.
U.S. stocks ignored earnings jitters and ended Thursday's session higher amid an increase in energy prices and positive jobless claims data. The major averages opened slightly higher but retreated in late morning trading. After languishing below the unchanged line till the mid-session, the indexes recovered to stay most afloat until late trading. Going into the close, the averages rose sharply and closed moderately higher for the session.
The Dow Industrials ended up 56.22 points or 0.31 percent at 17,959, the S&P 500 Index closed 9.28 points or 0.45 percent higher at 2,091 and the Nasdaq Composite Index ended at 4,975, up 23.74 points or 0.48 percent.
Twenty-two of the thirty Dow components closed higher for the session, while the remaining eight stocks retreated. General Electric (GE), Goldman Sachs (GS), Johnson & Johnson (JNJ) and Pfizer (PFE) were among the best performers of the session.
Among the sectors, energy and semiconductor stocks rose notably, while considerable weakness was visible among commercial real estate stocks.
On the economic front, jobless claims rose to 281,000 in the week ended April 4th from 268,000 in the previous week. At the same time, the four-week average eased to 282,250 from 285,500, falling to a nearly fifteen-year low. Continuing claims calculated with a week's lag fell 23,000 to 2.304 million in the week ended March 28th.
The Commerce Department reported that wholesale inventories rose 0.3 percent month-over-month in February, but wholesale sales fell 0.2 percent. The wholesale inventories to sales ratio was unchanged at 1.29, the highest reading since June 2009. |
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| | US Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | Minneapolis Federal Reserve Bank President Narayana Kocherlakota will speak in Bloomington, Minnesota at 12:20 pm ET.
After reporting a modest rebound in U.S. import prices in the previous month, the Labor Department released a report showing that import prices moved back to the downside in the month of March.
The Labor Department said import prices dipped by 0.3 percent in March after edging up by a revised 0.2 percent in February. The pullback in prices matched economist estimates.
Meanwhile, the report also said export prices inched up by 0.1 percent in March following a revised 0.2 percent drop in the previous month. Economists had expected export prices to slip by 0.2 percent.
The Treasury is scheduled to release its monthly budgetary statement at 2 pm ET. The consensus estimate calls for a deficit of $43 billion in March compared to a deficit of $192.3 billion in February.
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| | Stocks in Focus | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | PC makers may be in the spotlight after Gartner released the results of its quarterly PC tracker survey. The agency said worldwide PC shipments totaled 71.7 million units in the first quarter, down 5.2 percent from the year-ago period.
Lenovo and HP (HPQ) gained share, boasting 18.9 percent and 17.3 percent share of the market, respectively and holding the first and second positions. Dell, the number 3 player, had its share stay put at 12.6 percent. Only Lenovo and HP saw positive year-over-year growth in PC shipments.
Apple (AAPL) could make waves due to the impending release of its Apple Watch wearable device.
General Electric (GE) announced its decision to sell most assets of GE Capital and a few other transactions in this regard, which are valued at about $26.5 billion. The GE Board has authorized a new repurchase program of up to $50 billion in common stock, excluding the Synchrony exchange. GE expects to reduce its share count to 8 to 8.5 billion by 2018. According to the company, the earnings impact of the GE Capital exits will be offset by the buyback over the exit period.
Excel Trust (EXL) announced that it reached a definitive agreement with Blackstone Property Partners L.P., under which Blackstone will acquire all outstanding shares of common stock of Excel Trust for $15.85 per share in an all-cash transaction valued at about $2 billion.
Gap (GPS) reported that its March comparable store sales rose 2 percent compared to a 6 percent drop in the year-ago period. The company attributed the strength to the earlier timing of the Easter holiday peak shopping weeks this year.
SkyWest (SKYW) announced that capacity fell 6.4 percent year-over-year in March and traffic fell 7.4 percent. The load factor declined 0.8 percentage points to 82.5 percent.
GenCorp. (GY) reported a wider loss for its first quarter and its sales declined year-over-year. |
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| | European Markets | | European stocks opened higher and are sustaining the momentum, adding to the gains posted in the previous session. The mood has been in line with the upbeat sentiment in the global markets, while the easing of Greek concerns and the recent recovery in oil prices also imparted buoyancy.
In corporate news, Vedanta Resources reported a drop in its fourth quarter oil and gas production, with weaker production in Rajasthan impacting overall results. France's Carrefour reported higher first quarter sales, thanks to a better performance in Latin America.
On the economic front, French industrial and manufacturing output stagnated in February, according to a report released by French statistical office INSEE. Industrial output was unchanged compared to the previous month, while economists expected a 0.1 percent drop. Contrasting expectations for a 0.6 percent increase, manufacturing output was also flat.
Meanwhile, a report released by the U.K. Office for National Statistics showed that industrial production in the U.K. rose 0.1 percent month-over-month in February, softer than the 0.3 percent increase in January. Manufacturing output climbed 0.4 percent, in line with estimates.
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| | Asian markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | The Asian markets closed mixed, with the Japanese, Indonesian and Malaysian markets retreating modestly, while most other major markets in the region advanced.
Even as traders remained enthused above the positive cues from Wall Street overnight, the modest strength of the yen proved to be the undoing of the Japanese market.
Meanwhile, the Chinese market built on its recent momentum and rallied strongly, as negative producer price inflation allowed leeway for further stimulus measures.
Japan's Nikkei 225 average showed nervousness throughout the session, moving back and forth across the unchanged line in a narrow range before ending down 30.09 points or 0.15 percent at 19,908. However, in intraday trading, the index scaled the 20,000 level for the first time in 15 years.
Pharma, utility, resource, financial and most export stocks moved to the downside, but telecom and retail stocks gained ground.
Eisai, Mitsumi Electric, Tokyo Electric Power, Mitsui Chemicals, Nichirei, Astellas Pharma and Credit Saison were among the biggest decliners of the session, while Aeon jumped 5.51 percent.
Meanwhile, Australia's All Ordinaries Index showed some apprehension in early trading but moved steadily higher before moving roughly sideways in the last hour of trading. The index added 33.90 points or 0.57 percent before ending at 5,935.
Consumer staple, energy and IT stocks showed notable strength, while material stocks came under selling pressure.
Hong Kong's Hang Seng Index ended at 27,272, up 328 points or 1.22 percent, and China's Shanghai Composite Index closed 76.78 points or 1.94 percent higher at 4,034, settling above the psychological resistance of 4,000 level for the first time since 2008.
On the economic front, a report released by the Chinese National Bureau of Statistics showed that annual consumer price inflation in China remained unchanged at 1.4 percent in March, while it was expected to ease to 1.3 percent. On a monthly basis, consumer prices fell 0.5 percent, reversing the 1.2 percent increase in February. Producer prices slid 4.6 percent from the prior year, which was slower than the 4.8 percent fall seen in February.
The Bank of Japan reported that bank lending in Japan climbed 2.6 percent year-over-year in March, in line with estimates and up from the 2.5 percent increase in February. |
| | Currency and Commodities Markets | | Crude oil futures for May delivery are slipping $0.52 to $50.27 a barrel after climbing $0.37 to $50.79 a barrel on Thursday. Gold futures, which fell $9.50 to $1,193.60 an ounce in the previous session, are currently rising $11.20 to $1,204.80 an ounce.
Among currencies, the U.S. dollar is trading at 120.35 yen compared to the 120.58 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.0584 compared to yesterday's $1.0659.
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