TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 9:45 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: January 24th Tuesday Trade Results -
PostPosted: Tue Jan 24, 2017 11:59 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
4:20 pm: [BRIEFING.COM] Slow and steady was the theme on Tuesday as the major averages opened flat and advanced throughout the duration of the session to close solidly higher. The Nasdaq (+0.9%) picked up steam in the afternoon to finish a step ahead of the S&P 500 (+0.7%), while the small-cap Russell 2000 (+1.7%) surpassed them all.

Investors replaced yesterday's cautious tone with a risk-on attitude. The change of heart was most obvious in the Treasury market, which lost all of Monday's gain as the 10-yr yield swung seven basis points higher to 2.47% after losing the same amount the day before. The U.S. dollar faced a similar dynamic, with the U.S. Dollar Index (100.34, +0.39) adding 0.4% after succumbing to selling pressure on Monday.

Generally speaking, investors traded Treasuries for stocks, but they were more specifically after growth-sensitive equities as all six cyclical sectors outpaced the broader market. Materials led all sectors with a 2.5% gain, setting the pace early following DuPont's (DD 76.05, +3.27) positive earnings report. The stock jumped 4.5% after the company beat earnings estimates and announced that its merger with Dow Chemical (DOW 59.64, +2.50) is expected to close in the first half of 2017.

A ways off from the materials sector was the financial space (+1.2%). The sector ended in second place after many of its top components recouped some of the losses suffered at the start of the earnings season. Technology, the only sector with more influence than financials, finished the day 1.0% higher after strength in chipmakers sent the PHLX Semiconductor Index higher by 2.0%. In the broader tech space, Yahoo! (YHOO 43.90, +1.50) was the most notable advancer after reporting favorable earnings results following yesterday's close.

Following the pro-cyclical narrative, energy added 1.0% on the back of crude oil's 0.8% advance. The commodity finished near this week's flat line, at $53.15/bbl, as reports pointing to lower production from top exporters offset an uptick in U.S. drilling.

On the non-cyclical side of the market, telecom services (-2.7%) finished the day at the bottom of the leaderboard following the disappointing earnings report from Verizon (VZ 50.12, -2.29), which also weighed on AT&T (T 41.36, -0.64). The two stocks account for a significant share of the lightly-weighted sector.

Health care (-0.7%) also finished in the red, while consumer staples bucked the trend, advancing 0.8%. The space's solid showing stemmed from an upbeat response to Kimberly Clark's (KMB 121.79, +4.81) better than expected earnings report. Sector heavyweights like like Procter & Gamble (PG 87.86, +0.90) and Coca-Cola (KO 41.90, +0.47) outperformed, adding close to 1.0% apiece.

Today's economic data was limited to December Existing Home Sales:

Existing home sales for December decreased 2.8% from November to an annualized rate of 5.49 million units while the Briefing.com consensus expected a reading of 5.55 million.
The key takeaway from the report is that inventory constraints, rising prices, and higher mortgage rates remain a key obstacle to stronger sales activity.

Tomorrow's economic data will include MBA Mortgage Applications Index at 7:00 am ET and November FHFA Housing Price Index at 9:00 am ET.

Russell 2000 +0.9% YTD
Dow Jones Industrial Average +0.8% YTD
S&P 500 +1.8% YTD
Nasdaq Composite +4.1% YTD

3:30 pm: [BRIEFING.COM]

Crude erased nearly all of yesterday's losses ahead of tonight's API
Mar crude oil futures rose $0.40 (+0.8%) to $53.15/barrel
Reminder: President Trump signed an executive order to move forward with Keystone & Dakota Pipelines with the caveat of using American-made steel/pipes for the pipelines. - see today's 15:42 pm ET Energy Sector Summary comment
Data reminders:
Weekly API data will be released today at 4:30 pm ET.
Weekly EIA petroleum data will be released this Wed at 10:30 am ET.
Weekly Baker Hughes rig count data will be released this Friday at 1 pm ET.
Natural gas extended yesterday's gain on forecasts for colder-than-normal weather & higher heating demand expected to last into the second week of Feb
Feb natural gas closed $0.04 higher (+1.1%) at $3.28/MMBtu
EIA natural gas data will be released Thursday at 10:30 am ET.
In precious metals, gold reversed off of its 2-month high to close modestly lower as the dollar index gained momentum in the afternoon
Feb 2017 gold ended today's session down $4.70 (-0.4%) to $1210.80/oz
Mar 2017 silver closed today's session flat at $17.18/oz
The dollar index saw an afternoon rally & turned positive, was +0.2% around the 100.33 level
Commodities, as measured by the Bloomberg Commodity Index, were +0.2% around the 88.75 level

3:00 pm:

[BRIEFING.COM] The stock market is on track to log its first win of the week moving into the final hour of action. The benchmark index has added 0.8%, while small caps outperform; the Russell 2000 is up 1.6%.

Small caps have lagged in 2017, with today's performance finally pushing the Russell 2000 back into the green for the year. After pacing the post-election advance, an uptick in the domestically-focused, small-cap index is being viewed as a good sign for the broader market.

On the data front, investors were presented with December Existing Home Sales this morning. The report showed that existing home sales for December decreased 2.8% from November to an annualized rate of 5.49 million units (Briefing.com consensus 5.55 million). For 2016, existing home sales finished at 5.45 million sales, which is the highest level since 2006.

Looking ahead, this week's most notable economic reports will be December New Home Sales (Briefing.com consensus 589,000) on Thursday and advance fourth quarter GDP (Briefing.com consensus 2.2%) on Friday.

2:30 pm:

[BRIEFING.COM] The major averages are unchanged since the last update, with the benchmark index higher by 0.7%.

Retailers have seen an uptick today, pushing the SPDR S&P 500 Retail ETF (XRT 43.62, +0.56) higher by 1.3%. The advance is a nice change of pace for the industry after disappointing holiday sales cut into the sector's post-election gain. The consumer discretionary sector has profited from the solid showing, increasing 0.8%.

Other cyclical sectors have also continued their strong performances this afternoon with materials (+2.3%), industrials (+1.1%), technology (+1.0%), financials (+1.4%), and energy (+1.3%) all outperforming the broader market. The energy sector has moved in tandem with crude oil, benefiting from the energy component's 1.0% advance. The commodity currently trades at $53.28/bbl despite a 0.4% uptick in the U.S. Dollar Index (100.30, +0.35).

2:00 pm:

[BRIEFING.COM] Equity indices continue trending upward, with the Nasdaq hitting a new record high in recent action. The index trades a step ahead of its peers, up 0.8%.

The technology sector has had a hand in pushing the index higher, outpacing the broader market with a 1.0% gain. Yahoo! (YHOO 43.94, +1.54) remains one of the space's top performing components, adding 3.5%, after reporting favorable earnings results yesterday afternoon, while the world's largest technology company, Apple (AAPL 120.07, -0.01), underperforms. Apple has been just a tick behind its technology peers since the beginning of 2017, posting a year-to-date gain of 3.7% while the technology sector has climbed 4.6%.

U.S Treasuries continue to fall as the stock market climbs. The benchmark 10-yr yield has surpassed its overnight high in recent action, up seven basis points to 2.47%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have tacked on further gains since our last update as the Nasdaq Composite touches a new record high.

A look inside the Dow Jones Industrial Average shows that DuPont (DD 75.91, +3.13), IBM (IBM 175.39, +4.36), & Caterpillar (CAT 96.62, +2.16) are outperforming. DuPont is leading the Dow after reporting its fourth quarter results, while IBM is displaying relative strength as shares continue to build on last week's earnings.

Conversely, Verizon (VZ 50.01, -2.40) is the worst-performing Dow component after reporting its fourth quarter results. While revenues were slightly better than expected, Verizon earnings were worse than analysts had forecasted, and the company projected that its 2017 results would be fairly consistent with those from 2016.

Today's rally has pushed the DJIA further into positive territory for the year, with the DJIA now currently up 0.8% to start 2017.

1:00 pm:

[BRIEFING.COM] A risk-on tone has been underlying today's session as the major averages have advanced steadily since the opening bell. All three have hit fresh session highs in recent action, and currently hold gains around 0.5% apiece.

Sector standings tell the same story as investors have favored growth-sensitive sectors over their safer, non-cyclical counterparts. All six cyclical sectors are in the green, with materials (+2.3%) pacing the advance. DuPont (DD 75.93, +3.14) set the sector's tone earlier this morning, beating earnings estimates and announcing that its merger with Dow Chemical (DOW 59.11, +1.97) is expected to close in the first half of 2017. In addition, Alcoa (AA 38.07, +1.78) has jumped 4.9% ahead of its quarterly report, which will be released after today's closing bell.

Sitting just below the top of the leaderboard are the financial (+1.2%) and energy (+1.1%) sectors. The financial sector has returned into the green for the year while energy has narrowed its January loss to 1.2%. Energy has moved in tandem with crude oil, which has added 1.3% as reports of lower production from key exporters have outweighed an uptick in U.S. drilling. Information technology has also contributed to the strong showing from the cyclical side, adding 0.7% on a big day from chipmakers; the PHLX Semiconductor Index is up 1.4%.

On the non-cyclical side, telecom services (-3.2%), health care (-0.9%), and real estate (-0.2%) are all posting losses. However, the consumer staples sector has been able to resist the trend, outperforming the broader market with a 0.5% gain. The space's uptick has stemmed from an upbeat response to Kimberly Clark's (KMB 121.37, +4.39) better than expected earnings report.

Also on the earnings front, DR Horton (DHI 29.75, +1.01) has jumped 5.5% after reporting better-than-expected earnings and revenues this morning. The name has given a boost to its homebuilding peers, evidenced by the 3.5% increase in the iShares U.S. Home Construction ETF (ITB 28.89, +0.98).

The Treasury market is the last piece to the risk-on narrative, hitting a fresh session low in recent action. The benchmark 10-yr yield is up five basis points at 2.45%.

Today's economic data was limited to December Existing Home Sales:

Existing home sales for December decreased 2.8% from November to an annualized rate of 5.49 million units while the Briefing.com consensus expected a reading of 5.55 million.
The key takeaway from the report is that inventory constraints, rising prices, and higher mortgage rates remain a key obstacle to stronger sales activity.

12:30 pm:

[BRIEFING.COM] The major averages have advanced to new session highs in recent action, with all three sporting gains of 0.4%.

The defensive sectors have been generally weak, with telecom services (-3.2%), health care (-0.9%), and real estate (-0.2%) all posting losses. However, the consumer staples sector has been able to resist the trend, outperforming the broader market with a 0.5% gain. The space's uptick has stemmed from an upbeat response to Kimberly Clark's (KMB 121.37, +4.39) better than expected earnings report. Top sector heavyweights such as Procter & Gamble (PG 87.61, +0.65), Coca-Cola (KO 41.77, +0.35), and Philip Morris (PM 95.69, +0.93) are up between 0.7% and 1.0%.

Also of note, European bourses ended their trading days mostly higher, while the UK's FTSE finished flat. The euro (1.0755) has lost 0.1% against the dollar while the Japanese yen (113.53) has given up 0.7%. The U.S. Dollar Index (100.01, +0.05) is nestled just above its flat line with a slim gain of 0.1%.

12:00 pm:

[BRIEFING.COM] Equity indices remain near their recent levels while mid and small caps outperform; the S&P Mid Cap 400 and the Russell 2000 are up 0.8% and 0.5%, respectively.

Materials (+2.1%) have paced Tuesday's advance, outperforming their peers by a significant margin. In the second place on today's leaderboard is the heavily-weighted financial sector (+1.0%), with Bank of America (BAC 22.92, +0.36), Citigroup (C 56.76, +1.09), and Morgan Stanley (MS 43.08, +1.12) advancing between 1.7% and 2.5%.

Despite reporting better-than-expected earnings results over the last couple of weeks, the three names, along with the financial sector as a whole, have been unable to build on their big fourth quarter gains. Instead, the sector has elicited a sell-the-news response, which has put the financial sector in negative territory for 2017.

However, with the financial sector trimming its year-to-date loss to 0.2%, there are still some signs of life within the economically-sensitive group.

11:30 am:

[BRIEFING.COM] The equity market has ticked up to a fresh session high in recent action, with the three major indices higher by 0.3%.

The S&P 500's largest sector, information technology, has outperformed the benchmark index, sporting a 0.6% gain. Chipmakers have contributed to the advance, recapturing their Monday loss and pushing the PHLX Semiconductor Index 1.3% higher for the day.

Yahoo! (YHOO 43.68, +1.30) has been one of the space's most notable advancers, adding 3.1%, after reporting better-than-expected top and bottom line results after yesterday's close. The company was in need of some encouraging news after its stock lost over 7.0% last month following an announcement that the company suffered the largest data breach in history.

11:00 am:

[BRIEFING.COM] The major averages have trended sideways after posting modest gains immediately following the opening bell. The S&P 500 is up 0.2%.

A mild risk-on tone has characterized today's session thus far as investors have put pressure on the Treasury market and given the U.S. dollar a leg up on its peers; the 10-yr yield is up three basis points at 2.43%, while the U.S. Dollar Index (100.13, +0.17) has added 0.2%.

The theme carries to the stock market as well, with cyclical sectors clearly outperforming their countercyclical peers. All six growth-sensitive sectors are up, sporting gains between 0.3% and 1.8%, while four of the five defensive sectors are down, showing losses between 0.1% and 3.0%.

The materials sector has been today's top performer by a large margin, adding 1.8%. DuPont (DD 75.11, +2.33) set the sector's tone earlier this morning, beating earnings estimates and announcing that its merger with Dow Chemical (DOW 58.72, +1.56) is expected to close in the first half of 2017. In addition, Alcoa (AA 38.07, +1.78) has jumped 4.9% ahead of its quarterly report, which will be released after today's closing bell.

10:35 am: [BRIEFING.COM]

Crude oil erased nearly all of yesterday's losses ahead of tonight's API; EIA on tap for tomorrow at 10:30 am ET
Mar 2017 crude oil futures were up $0.41 (+0.8%) around the $53.16/barrel level
Contributing factors affecting the price of oil include:
Earlier this morning, Iraq stated they were close to complying with an agreed cut allocation of 210k barrels/day.
A report this morning from Bernstein Energy circulating noted that global oil inventories declined by 24 mln barrels to 5.7 bln barrels in Q4 of 2016 vs. the previous quarter.
Reminder: OPEC ministers and producers outside the group said on Sunday that of the almost 1.8 mln bpd they had agreed to remove from the market starting on Jan 1, 1.5 mln bpd had already been cut.
Reminder: Baker Hughes rig count data released last Friday showed the biggest single weekly oil rig count increase in 4 years. The U.S. oil rig count increased by 29 to 551 rigs last week. It is worth noting that this pick-up in US activity could potentially cap oil price gains in the future.
Upcoming data reminders:
Weekly API data will be released today after the bell.
Weekly EIA petroleum data will be released this Wed at 10:30 am ET.
Weekly Baker Hughes rig count data will be released this Friday at 1 pm ET.
Natural gas rallied off of yesterday's 2-week low ahead of Thurday's EIA
Feb 2017 natural gas futures were up $0.07 (+2.1%) around the $3.33/MMBtu level
Weekly EIA natural gas inventory data will be released on Thursday at 10:30 am ET.
In precious metals, gold held firm near yesterday's 2-month high & silver traded nearly flat
The dollar index was nearly flat around the 100.13 level
Commodities, as measured by the Bloomberg Commodity Index, were +0.7% around the 88.14 level

10:00 am:

[BRIEFING.COM] The major averages hover near their recent levels, with the S&P 500 up 0.1%.

Just released, existing home sales for December decreased 2.8% from November to an annualized rate of 5.49 million units while the Briefing.com consensus expected a reading of 5.55 million.

9:45 am:

[BRIEFING.COM] The S&P 500 (+0.1%) opened Tuesday just above its flat line, while the Nasdaq is sporting a 0.3% gain.

Cyclical sectors have had the upper hand in early action, with all six posting gains. The advance has been led by materials (+1.3%), with energy (+0.6%), technology (+0.4%), and consumer discretionary (+0.3%) also outperforming the broader market.

On the non-cyclical side, telecom services are at the bottom of today's leaderboard, plunging 2.7%. Verizon (VZ 50.29, -2.11) has led the sector's decline, losing 4.2% after reporting worse-than-expected earnings results earlier this morning.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +9.60.

The stock market is on track to open Tuesday slightly higher as the S&P 500 futures trade two points above fair value.

Earnings reports have been the focal point of pre-market action, with a bundle of companies reporting between yesterday's close and today's open. Thus far, the most notable losers have been, Verizon (VZ 50.54, -1.87), Lockheed Martin (LMT 248.44, -8.98), and Johnson & Johnson (JNJ 111.87, -2.02), while the most notable winners have been DR Horton (DHI 29.75, +1.01) and Yahoo! (YHOO 43.90, +1.50).

Crude oil has ticked up in recent action as the latest narrative for the commodity suggests that reports of lower production from key exporters have been offset by an uptick in U.S. drilling. The energy component is up 0.5%, near its overnight high, trading at $53.09/bbl.

Conversely, Treasuries are under pressure this morning after a big Monday advance. With the 10-yr yield up three basis point at 1.4% and the U.S. Dollar Index (100.16, +0.21) adding 0.2%, early-morning action suggests investors have somewhat of a risk-on attitude to start the day.

Today's economic data will be limited to December Existing Home Sales (Briefing.com consensus 5.55 million), which will cross the wires at 10:00 am ET.

8:54 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +7.40.

The S&P 500 futures trade one point above fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note while Japan's Nikkei (-0.6%) underperformed. Japan's Finance Minister Taro Aso said his country is prepared to cooperate with the new US administration at various levels. Elsewhere, the progress towards inclusion of Chinese equities in MSCI may be halted if the country continues cracking down on capital outflows, according to the head of MSCI.

Economic data was limited:

Japan's January Manufacturing PMI 52.8 (expected 52.3; last 52.4) South Korea's January Consumer Confidence 93 (last 94)

---Equity Markets---

Japan's Nikkei lost 0.6% with more than half of its components ending in the red. DeNA, Mitsbushi Motors, Fast Retailing, Sony Financial Holdings, Mazda Motor, Yamaha Motor, SUMCO, and Honda lost between 1.7% and 3.6%. On the upside, Alps Electric, Asahi Group Holdings, and Mitsubishi gained between 1.2% and 2.0%.
Hong Kong's Hang Seng added 0.2% with most energy names finishing among the leaders. China Shenhua Energy, China Petrol & Chemical, and PetroChina gained between 1.5% and 2.6%. Select financials and property names also displayed strength with Bank of East Asia, Sino Land, SHK Properties, and China Life Insurance rising between 0.7% and 2.5%.
China's Shanghai Composite slipped from its high into the close, but still added 0.2%. YTO Express Group, Anhui Conch Cement, Tiandi Science & Technology, and Huaxin Cement gained between 3.9% and 4.9%.
India's Sensex climbed 1.0% amid broad strength. Bajaj Auto, Mahindra&Mahindra, Tata Motors, and Power Grid posted gains between 1.6% and 3.4%. Financials were mixed with HDFC Bank and AXIS Bank rising 1.8% and 1.4%, respectively, while SBI added 0.2% and ICICI Bank shed 0.1%.

Major European indices trade just above their flat lines while Italy's MIB (+1.2%) outperforms after two consecutive down days. In the UK, the Supreme Court ruled that a Parliamentary vote must be allowed before article 50 of the Lisbon Treaty is triggered. Also of note, Reuters reported that EU finance ministers will not sign off on Thursday's Greek bailout review, but they remain hopeful that the review will be completed soon.

In economic data:
Eurozone January Manufacturing PMI 55.1 (expected 54.8; last 54.9) and January Services PMI 53.6 (consensus 53.9; previous 53.7)
Germany's January Manufacturing PMI 56.5 (consensus 55.4; last 55.6) and January Services PMI 53.2 (consensus 54.5; previous 54.3)
France's January Manufacturing PMI 53.4, as expected (prior 53.5) and January Services PMI 53.9 (consensus 53.2; last 52.9)
UK's December Public Sector Net Borrowing GBP6.42 billion (expected GBP7.00 billion; last GBP10.83 billion)

---Equity Markets---

France's CAC hovers just above its flat line, trading in the neighborhood of levels from late December. Roughly half of its components hold gains with financials Societe Generale, Credit Agricole, and BNP Paribas rising between 0.9% and 1.5%. Automakers Peugeot and Renault show respective gains of 2.2% and 0.2%. On the downside, Nokia, Engie, and AXA are all down between 0.4% and 1.1%.
Germany's DAX is higher by 0.2%, which leaves the index inside a 300-point range that dates back to the second half of December. Deutsche Bank is the top performer, climbing 1.1%, while other heavyweights like Siemens, Daimler, and BMW show gains around 1.0%. Software publisher SAP has added 0.4% after beating earnings expectations.
UK's FTSE is higher by 0.1%, looking to snap its three-day skid. The index hovers near levels from the start of 2017 with miners and select financials in the lead. Anglo American, Rio Tinto, BHP Billiton, Antofagasta, Glencore, Barclays, Standard Chartered, and Prudential are up between 0.9% and 5.3%. On the downside, BT Group has plunged 18.8% after revealing the scope of an accounting scandal in the company's Italian business.
Italy's MIB has jumped 1.2% as the index approaches its 2016 high. Generali has surged 9.8% amid reports Intesa Sanpaolo may make a bid for the insurer. Intesa Sanpaolo is down 4.7% while other financials like Mediobanca, Banca Mediolanum, UniCredit, UBI Banca, and Banca Pop Emilia Romagna show gains between 1.4% and 7.9%.

8:29 am: [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +5.30.

The equity market is on track to open Tuesday flat as the S&P 500 futures trade one point below fair value.

The morning has been all about earnings reports with a batch of high-profile companies reporting results between yesterday's close and today's open. Some of the most notable movers thus far have been Alibaba (BABA 102.40, +3.88), Yahoo! (YHOO 43.85, +1.45), and DR Horton (DHI 29.50, +0.76), all up between 2.7% and 3.9% in pre-market trade. All three companies beat top and bottom line estimates, with Alibaba also issuing positive guidance.

Influential earnings reports due after the close today include Capital One (COF 86.87, 0.00), Texas Instruments (TXN 75.95, +0.22), Canadian National Railway (CNI 70.28, 0.00), Stryker (SYK 121.41, 0.00), Seagate Technology (STX 36.37, 0.00) and Alcoa (AA 36.65, +0.36), among many others.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +5.60.

U.S. stock futures are relatively flat this morning as investors digest a slew of earnings reports before Tuesday's opening bell. The S&P 500 futures trade one point below fair value.

The Treasury market is under pressure early after a big advance on Monday. The benchmark 10-yr yield is up three basis points at 2.43%.

Crude oil has returned to its flat line in recent action, coming down from its overnight high. The commodity is up a modest 0.1% at $52.70/bbl as reports of lower production from key exporters have been balanced by an uptick in U.S. drilling.

Today's economic data will be limited to December Existing Home Sales (Briefing.com consensus 5.55 million), which will cross the wires at 10:00 am ET.

In U.S. corporate news:

Alibaba (BABA 102.89, +4.48): +4.5% after the company beat on the top and bottom lines and issued positive guidance.
DR Horton (DHI 29.75, +1.01): +3.5% after reporting better-than-expected earnings and revenues.
DuPont (DD 73.40, +0.62): +0.9% after beating earnings estimates. Also of note, the company sees its merger with Dow Chemical (DOW 57.14, 0.00) closing in the first half of 2017.
Johnson & Johnson (JNJ 112.50, -1.41): -1.2% after issuing disappointing guidance.
Travelers (TRV 119.00, +0.96): +0.8% after beating on the top and bottom lines.
Verizon (VZ 51.40, -1.01): -1.9% after missing earnings estimates.
Yahoo! (YHOO 43.90, +1.50): +3.5% after beating on the top and bottom lines. The company hopes to complete the sale of its core business to Verizon by the end of the second quarter.
Lockheed Martin (LMT 253.29, -4.19): -1.6% after disappointing guidance overshadowed better-than-expected top and bottom lines.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note while Japan's Nikkei underperformed. Japan's Nikkei -0.6%, Hong Kong's Hang Seng +0.2%, China's Shanghai Composite +0.2%, India's Sensex +1.0%.
In economic data:
Japan's January Manufacturing PMI 52.8 (expected 52.3; last 52.4) South Korea's January Consumer Confidence 93 (last 94)
In news:
Japan's Finance Minister Taro Aso said his country is prepared to cooperate with the new US administration at various levels.
According to the head of MSCI, the progress towards inclusion of Chinese equities in MSCI may be halted if the country continues cracking down on capital outflows.

Major European indices trade just above their flat lines while Italy's MIB outperforms after two consecutive down days. France's CAC unch, Germany's DAX +0.2%, UK's FTSE +0.2%, Italy's MIB +1.4%.
In economic data:
Eurozone January Manufacturing PMI 55.1 (expected 54.8; last 54.9) and January Services PMI 53.6 (consensus 53.9; previous 53.7)
Germany's January Manufacturing PMI 56.5 (consensus 55.4; last 55.6) and January Services PMI 53.2 (consensus 54.5; previous 54.3)
France's January Manufacturing PMI 53.4, as expected (prior 53.5) and January Services PMI 53.9 (consensus 53.2; last 52.9)
UK's December Public Sector Net Borrowing GBP6.42 billion (expected GBP7.00 billion; last GBP10.83 billion)
In news:
In the UK, the Supreme Court ruled that a Parliamentary vote must be allowed before article 50 of the Lisbon Treaty is triggered.
Reuters reported that EU finance ministers will not sign off on Thursday's Greek bailout review, but they remain hopeful that the review will be completed soon.

5:59 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +5.90.

5:59 am: [BRIEFING.COM] Nikkei...18788...-103.00...-0.60%. Hang Seng...22950...+51.30...+0.20%.

5:59 am: [BRIEFING.COM] FTSE...7164.80...+13.60...+0.20%. DAX...11577.11...+31.40...+0.30%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr