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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 a lower opening on Tuesday, with sentiment suggesting nervousness of traders amid a lack of any meaningful catalysts. China worries could accentuate, given the release of tame inflation data that underlined weak domestic demand. Meanwhile, a report released short while ago showed that U.S. import prices fell steeply, which could temper rate hike expectations. Commodities are still weaker, although crude oil is seeing moderate upward bounce. The homebuilding space could see some strength on the back of strong earnings reports.
U.S. stocks declined notably on Monday, weighed down by worries concerning a potential Fed rate hike and weaker Chinese trade data. The major averages opened lower and declined steadily till early afternoon trading. After moving sideways until late trading, the indexes trimmed some of their losses going into the close.
The Dow Industrials fell 179.85 points or 1 percent before ending at a 1-week low of 17,731, the S&P 500 Index closed 20.62 points or 0.98 percent lower at a 2-week low of 2,079 and the Nasdaq Composite ended at 5,095, down 51.82 points or 1.01 percent.
Twenty-eight of the thirty Dow components closed lower for the session, with Exxon Mobil (XOM), IBM (IBM) and Caterpillar (CAT) leading the slide. On the other hand, DuPont (DD) gained ground in the session.
Airline, housing, retail, computer hardware, semiconductor, banking and oil stocks came under selling pressure, while biotech and gold stocks moved notably to the upside. |
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| | US Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | The Labor Department reported that import prices fell 0.5 percent month-over-month in October following a downwardly revised 0.5 percent drop in September. Economists expected a more modest 0.1 percent drop. Fuel imports fell at a slower pace of 2 percent and non-fuel import prices were down 0.3 percent.
Additionally, export prices dropped by 0.2 percent after declining 0.6 percent in the previous month. Export prices had expected to dip by 0.3 percent.
At 10 am ET, the Commerce Department is scheduled to release its wholesale inventories report for September. The consensus estimate calls for a 0.1 percent month-over-month increase in wholesale inventories for the month.
In August, wholesale inventories rose 0.1 percent month-over-month following a downwardly revised 0.3 percent decline in July. Wholesale sales fell 1 percent. The inventories to sales ratio came in at 1.31 in August compared to 1.30 in July.
The Treasury Department is set to announce the results of its auction of 10-year notes at 1 pm ET.
Chicago Federal Reserve Bank President Charles Evans is due to take part in a panel discussing government debt in Chicago at 2:30 pm ET. |
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| | Stocks in Focus | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | Gap (GPS) reported a 3 percent decline in comparable store sales for October compared to a matching drop last year. Net sales for the third quarter were down 3 percent to $3.86 billion, below the consensus estimate of $3.92 billion.
ViaSat (VSAT) reported below-consensus second quarter non-GAAP earnings and its revenues were down 1.5 percent year-over-year.
First Solar (FSLR) reported better than expected third quarter earnings and issued in line 2015 sales guidance.
Jamba (JMBA) reported below consensus adjusted net income and its revenues fell 39.1 percent.
LeapFrog (LF) reported second quarter results that trailed estimates and also forecast a decline in full year sales.
Scientific Games (SGMS) reported a wider loss for its third quarter, with several one-time items impacting bottom line results. Revenues missed estimates.
Darden Restaurants (DRI) announced the completion of its spin-off of select real estate restaurants into Four Corners Property Trust, which will be treated as a REIT, effective January 1, 2016. The shares of the spin-off unit will be listed on the NYSE under the ticker symbol FCPT, effective January 1st, 2016.
Ocata Therapeutics (OCAT) announced a deal to be bought by Japan's Astellas for $8.50 per share in cash. However, the company's 2015 earnings per share guidance was weak.
D.R. Horton (DHI) reported better than expected fourth quarter results and it hiked its dividend. Beazer Homes (BZH) stronger profit and revenue growth for its fourth quarter. |
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| | European Markets |
European stocks opened higher but began declining in early trading, as traders digested overseas cues. The major averages in the region are currently moderately lower.
In corporate news, Vodafone (VOD) reported better than expected organic service revenue growth for its second quarter. Core earnings for the first half grew, and the company raised its full year guidance.
Prudential (PUK) reported higher new business profits for the first nine months of the year, although the performance in the U.S. was weak.
National Grid announced a decision to sell its U.K. gas distribution business, which reportedly could fetch the company about 11 billion pounds. The company's first half profits came in ahead of expectations.
On the economic front, a report released by French statistical office INSEE showed that industrial production rose 0.1 percent month-over-month in September following the 1.7 percent increase in August.
Like-for-like sales in the U.K. fell 0.2 percent year-over-year in October, according to a report released by the British Retail Consortium. This belied expectations for a 0.8 percent increase. Overall sales were up 0.9 percent.
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| | Asian markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | The major Asian markets ended mostly lower, although the Japanese market saw a small bounce on the yen's weakness. The negative performance by Wall Street stocks sapped risk appetite in the region. The Malaysian and Singaporean markets were closed for public holidays.
The Nikkei 225 Index opened lower and languished below the unchanged line in the morning. However, the index recouped its loss over the course of the afternoon before ending up 28.52 points or 0.15 percent at 19,671.
Drug stocks rose and export, financial and utility stocks were mixed. However, construction, retail, real estate, textile, mining, paper and chemical stocks came under selling pressure.
Meanwhile, Australia's All Ordinaries Index traded below the unchanged line throughout the session, although it closed off its lows. The index ended down 22.60 points or 0.44 percent at 5,158.
IT, real estate, consumer discretionary, financial, healthcare and industrial stocks fell notably, while material, telecom and consumer staple stocks rose modestly.
China's Shanghai Composite Index lost 6.40 points or 0.18 percent before ending at 3,641, and Hong Kong's Hang Seng Index ended at 22,402, down 325.07 points or 1.43 percent.
On the economic front, twin inflation reports released from China showed lackluster inflationary pressure, as demand growth remains muted and economic growth slows. Annual consumer price inflation slowed to 1.3 percent in October from 1.6 percent in September. Economists expected a 1.5 percent rate.
Another report showed that producer prices decreased for the 44th consecutive month in October. Producer prices fell 5.9 percent year-over-year in October, the same rate of decline as seen a month ago and in line with expectations.
A report released by Japan's Ministry of Finance showed that Japan's trade surplus came in less than expected at 1,468.4 billion yen in September. Economists expected a surplus of 2,154 billion yen.
The results of a survey by National Australia Bank showed that confidence among Australian businesses receded in October. The corresponding index slipped to 2 in October from 5 in September. At the same time, the business conditions index was unchanged at 9.
The Australian Bureau of Statistics reported that total home loans in Australia climbed 2 percent month-over-month in September. Economists expected 1.5 percent growth. At the same time, investment lending plunged 8.5 percent. |
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| | Currency and Commodities Markets | | Crude oil futures are rising $0.24 to $44.11 a barrel after falling $0.42 to $43.87 a barrel on Monday. Meanwhile, an ounce of gold is trading currently at $1,092, up $3.90 from the previous session's close of $1,088.10. On Monday, gold rose $0.40.
On the currency front, the U.S. dollar is trading at 123.24 yen compared to the 123.18 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.0743 compared to yesterday's $1.0752. |
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