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After Hours Shakers and Movers
| Symbol | Company Name | Last | Change | Volume | |
| SPY | SPDR S&P 500 ETF Trust | 150.99 | -0.06 | -0.04% | 3,424,899 |
| ZNGA | Zynga Inc. Cl A | 2.86 | +0.12 | +4.38% | 1,934,041 |
| BAC | Bank of America Corp. | 11.89 | +0.01 | +0.08% | 879,890 |
| NYX | NYSE Euronext | 35.21 | -0.01 | -0.03% | 780,147 |
| ABT | Abbott Laboratories | 33.96 | +0.12 | +0.34% | 686,911 |
| NWSA | News Corp. Cl A | 28.16 | -0.19 | -0.69% | 575,320 |
| EWJ | iShares MSCI Japan Ind … | 9.91 | -0.01 | -0.08% | 549,272 |
| MRK | Merck & Co. Inc. | 41.32 | -0.11 | -0.28% | 491,592 |
| QQQ | PowerShares QQQ Trust … | 67.46 | UNCH | UNCH | 423,779 |
| XLF | Select Sector SPDR-Fin … | 17.60 | +0.02 | +0.11% | 423,426 |
| EEM | iShares Inc. MSCI Emer … | 43.97 | UNCH | UNCH | 412,626 |
| DELL | Dell Inc. | 13.42 | UNCH | UNCH | 399,552 |
| PHM | PulteGroup Inc. | 19.81 | +0.07 | +0.35% | 383,892 |
| GM | General Motors Co. | 28.59 | UNCH | UNCH | 360,304 |
| SBUX | Starbucks Corp. | 56.01 | -0.19 | -0.34% | 328,612 |
| F | Ford Motor Co. | 13.18 | UNCH | UNCH | 319,029 |
| LSI | LSI Corp. | 7.22 | 0.00 | -0.01% | 301,041 |
| HXM | Desarrolladora Homex S … | 14.05 | +0.01 | +0.09% | 300,302 |
| ACI | Arch Coal Inc. | 6.03 | -0.01 | -0.17% | 277,600 |
| VXX | Barclays Bank PLC iPat … | 23.70 | +0.03 | +0.12% | 251,894 |
| EXPE | Expedia Inc. | 70.20 | +2.70 | +4.00% | 248,815 |
| SHY | iShares Trust Barclays … | 84.42 | UNCH | UNCH | 242,345 |
| IWM | iShares Russell 2000 I … | 90.08 | UNCH | UNCH | 234,873 |
| KO | Coca-Cola Co. | 37.84 | -0.30 | -0.79% | 231,418 |
| IVR | Invesco Mortgage Capit … | 21.56 | UNCH | UNCH | 228,649 |
The Bulls Manage to Side Step Follow Through
U.S. equities earn the teflon coating for not allowing negativity to stick. After yesterday’s drudging markets put in a good bounce back today.
The markets were led higher by technology, consumer cyclicals, conglomerates, and financials.
DOW up 98
S&P up 15
NASDAQ up 40
[youtube://http://www.youtube.com/watch?v=vCWdCKPtnYE 450 300] Comments »Market Update: You Can’t Keep the Bull Down
After yesterday’s losses many thought the markets would continue follow through today. Shorts into yesterday’s bell are getting crushed.
The DOW & the S&P are up nearly 1%, while the NADAQ is up over 1%.
Europe was able to climb out of the red after some decent service data and a stronger Euro…it also helped that yields did not spike for Italy and Spain.
Gold is down .45% while WTI is up 0.63%
Europe Pares Losses on Service Data, Italian Bond Yields, and a Stronger Euro
“European stocks rebounded from their biggest drop in three months yesterday, while Italian two-year notes recovered after yields reached a one-month high. Oil advanced while the yen weakened.
The Stoxx Europe 600 Index (SXXP) rose 0.7 percent at 7:25 a.m. in New York. Standard & Poor’s 500 Index futures gained 0.5 percent. Italy’s two-year note yield slid 11 basis points to 1.62 percent after earlier reaching 1.77 percent, the highest since Jan. 3, while the cost of credit-default swaps insuring European investment-grade debt slid from the highest level in almost two months. The yen declined at least 0.4 percent against its major peers after Bank of Japan Governor Masaaki Shirakawa said he would step down next month. Oil climbed 0.6 percent.
Stocks are rallying after global equity markets slumped the most this year yesterday and the S&P 500 had its steepest drop since November on renewed concern Europe’s debt crisis will intensify. Companies from Munich Re to ARM Holdings Plc (ARM) posted results that beat estimates and data today showed European services output shrank less than initially estimated. U.S. service industries probably grew last month at about the same pace as in December, economists said before a report today.
“The markets seem to be rebounding from what was probably an overdone move yesterday,” Lorne Baring, managing director at B Capital SA in Geneva, which oversees almost $500 million, said in a phone interview. “Sentiment is positive at the moment and earnings have generally beat expectations. This opens the way for the U.S. market to continue its upward trend.”
Results Beat…”
Comments »Asian Markets Fall on Worries Over Europe and the Euro
“Japanese shares fell, with the Nikkei 225 (NKY) Stock Average retreating from its highest in 32 months, as Hitachi Ltd. and Fujikura Ltd. cut their forecasts and concern about Europe’s debt crisis deepened.
Hitachi, a maker of electronics and machinery, declined 6.4 percent, while cable-manufacturer Fujikura tumbled 7.3 percent. Konica Minolta Holdings Inc. (4902), a producer of imaging equipment that gets 28 percent of its sales in Europe, dropped 3.1 percent. Nippon Sheet Glass Co. (5202) led gains on the Nikkei 225 after Daiwa Securities Group Inc. (8601) recommended the shares. Toyota Motor Corp. (7203) slid 1.2 percent before posting earnings at the close.
The Nikkei 225 lost 1.9 percent to 11,046.92 in Tokyo after yesterday closing at its highest since April 15, 2010. Volume was about 65 percent above the 30-day average for the time of a day. The broader Topix Index fell 1.7 percent to 939.70, with about four stocks dropping for each that gained.
“Investors are using the European issue as an excuse to adjust their positions,” said Hitoshi Asaoka, a Tokyo-based senior strategist at Mizuho Trust & Banking Co., a unit of Japan’s third-largest bank by market value. “Investors are also paying attention to factors for individual stocks.”
The Topix has surged 30 percent since Nov. 14, when national elections were announced on optimism Prime Minister Shinzo Abe’s new government will take steps to fight deflation. The gauge is trading at 1.11 times book value, compared with 2.07 for the Standard & Poor’s 500 Index and 1.47 for the Stoxx Europe 600 Index.
Of the 159 companies on the Topix that have reported earnings so far this quarter and for which Bloomberg has estimates, 61 percent have exceeded profit expectations. Some 52 percent missed sales projections, the data show.
Lower Expectations…”
Comments »Asia Falls, Europe Trades Mixed, and U.S. Futures Look to Recoup Some of Yesterday’s Losses
After Hours Shakers and Movers
Market Update
U.S. equities got off to a weak start all in part due to political corruption worries in Europe. Specifically, Rajoy in Spain and other cabinet members have been accused of being on the take and their are calls for his resignation. This is creating fear that perhaps the recent bailouts and structuring of finance could fall apart. As well all the plans put forth recently to help Spain recover and grow are considered to be up in the air.
Yields in Spain and Italy have gone parabolic. U.K.’s chancellor is calling for a portential break up of the banks if they can not follow recent guidelines to fixing the mess within the system.
Merkel has tried to calm the markets holding a meeting with Rajoy and stating she has confidence in Spain…
So far the DOW is off 110 and it does not appear to be more than a garden variety pullback, but we will not know until the close. The S&P is haning onto 1500, but should find strong support between 1470 -1480 if we are to have a continued sell off in the coming days and weeks.
Risk off has most equities down along with precious metals and oil.
[youtube://http://www.youtube/watch?v=iZV7akaSo0s 450 300] Comments »Some Pre-Market Movers This AM
FLASH: U.S. Futures Shit the Under Garments, Not the Bed Yet
| S&P 500 Futures | 1498.15 | -8.60 | -0.57% | |||
| NQ 100 Futures | 2738.20 | -18.30 | -0.66% |
Political and Market Turmoil Erase Early Gains in Europe
“European stocks declined, erasing an earlier advance, as Spanish and Italian lenders retreated with the nations’ government bonds amid signs of political turmoil. U.S. index futures fell while Asian shares advanced.
Banco Santander SA, Spain’s largest bank, dropped 2.9 percent as Prime Minister Mariano Rajoy denied corruption allegations. UniCredit SpA, the biggest lender in Italy, sank 4.4 percent as former premier Silvio Berlusconi gained in opinion polls before elections this month. Julius Baer Group Ltd. (BAER) fell 3.1 percent after the wealth manager reported declining revenue margins. Swatch Group AG rose 2.8 percent as profit topped estimates.
The Stoxx Europe 600 Index (SXXP) retreated 0.4 percent to 287.07 at 12:14 p.m. in London after earlier climbing as much as 0.2 percent. The gauge has still increased 2.6 percent this year as U.S. lawmakers agreed to a compromise budget to prevent automatic spending cuts and tax increases that threatened to push the world’s largest economy into a recession.
“Spanish yields have blown up in the past hour to their highest levels since December as concerns about the Spanish government mount,” said Ioan Smith, a strategist at Knight Capital Europe Ltd. in London. “In addition to the growing corruption scandal in Spanish politics, the Italian elections towards the end of the month are also a concern.”
The volume of shares changing hands in Stoxx 600 companies was 9.6 percent lower than the 30-day average, according to data compiled by Bloomberg. The gauge is trading at 12.3 times its companies’ estimated earnings, compared with a valuation of 9.75 times profit in June, data shows….”
Comments »Asian Markets Touch Eighteen Month Highs
“Asia’s benchmark stock index rose to the highest level in 18 months as U.S. payrolls expanded and China services industries grew at the fastest pace since August, adding to optimism in the global economic recovery.
Rio Tinto Group (RIO), the world’s second-largest mining company, advanced 1.2 percent in Sydney, leading gains among companies with earnings closely tied to economic growth. Sony Corp. (6758), trying to reverse a two-year decline in PlayStation sales, surged 7.5 percent in Tokyo amid speculation the firm is prepping a new version of the home console. Panasonic Corp. (6752), Japan’s second-largest TV maker, soared 17 percent after reporting an unexpected third-quarter profit.
The MSCI Asia Pacific Index (MXAP) added 0.5 percent to 133.4 as of 7:24 p.m. in Tokyo, with five stocks advancing for every four that fell. Japan’s Nikkei 225 Stock Average rose 0.6 percent after capping a 12-week winning streak on Feb. 1., the longest run of weekly gain since 1959, according to Nikkei Inc.
“Economic news was universally good,” said Matthew Sherwood, head of investment markets research at Perpetual Investment, which manages about $25 billion in Sydney. “Corporate leaders are becoming more confident about the growth outlook. Investors are starting to feel the same way, even though questions remain about the strength of corporate earnings growth.”
Sale Cleared
Hong Kong’s Hang Seng Index (HSI) fell 0.2 percent with volume about 76 percent higher than normal for the time of day as HSBC Holdings Plc’s $7.4 billion sale of its stake in Ping An (2318)Insurance (Group) Co. to Thai billionaire Dhanin Chearavanont was cleared by regulators. Shanghai Composite Index rose 0.4 percent and Singapore’s Straits Times Index rose 0.2 percent. Taiwan’s Taiex Index gained 0.9 percent.
Australia’s S&P/ASX 200 Index slid 0.3 percent with trading volume 9.1 percent below average, according to data compiled by Bloomberg. South Korea’s Kospi Index lost 0.1 percent with 26 percent fewer shares changing, the data show. Standard & Poor’s 500 Index futures were little changed….”
Comments »Asia Trades Mixed, Europe and U.S. Futures are Called Lower
Asian Markets Gap Up
Globally Weighted PMIs Improve
“With all the global PMI reports in the books we can better gauge the health of the global economy. The January data was overwhelmingly positive. The January globally weighted PMI comes in at 51.8, up from 50.5 in December. The biggest improvements came from the Eurozone, USA, China, Japan and Brazil. There was some deterioration in India, but the country remained well in the contraction range over 50.
All in all, this points to a healthier global economy and a clear move back into the expansionary period after the 2012 dip into contraction range. Here’s a brief breakdown of some of the more important components…”
Comments »Futures and Au Pop After Non Farm Payroll Data Dump
“The January jobs report is out. And after a taking a few minutes to process the information, markets are now surging.
Dow futures are up 110 points. S&P futures are up 8 points.
U.S. stock market futures were up handily ahead of the report. Dow futures were up 69 pts, S&P futures up 6 points. The 10-year yield was at 1.99 percent.
Gold jumped to $1,673 from $1,663.
The January non-farm payrolls number was a bit lighter than expected, but the December and November numbers were revised up significantly.
The unemployment rate also ticked up to 7.9 percent from 7.8 percent a month ago.
At the December FOMC meeting, the Federal Reserve said it would employ unemployment rate and inflation rate targets to help guide monetary policy. The unemployment rate threshold was 6.5 percent. Given that, gold may be moving on prospects for extended easy monetary policy.”
Comments »European Markets Take a Bounce After Three Days of Downside Action
“European stocks rose for the first time in three days and U.S. equity-index (IBEX) futures gained before a data on American payrolls and manufacturing. Copper advanced, while the yen weakened to the lowest since April 2010 against the euro.
The Stoxx Europe 600 Index added 0.3 percent at 7:35 a.m. in New York, after gaining as much as 0.5 percent. Standard & Poor’s 500 Index futures increased 0.3 percent. Spain’s IBEX 35 Index fell to a one-month low after regulators lifted a ban on short selling, while stocks inShanghai capped the best week since October 2011 as manufacturing expanded. The yen sank 1 percent to 125.73 per euro. The 10-year Treasury yield climbed two basis points to 2 percent. Copper rose 0.5 percent….”
Comments »Asia Trades Mixed, Europe Trades Higher, and U.S. Futures Look to Recoup Yesterdays Losses
World Gold Council Has a New Report That May Have You Reconsidering Your Outlook
“The World Gold Council has issued its new report for 2013 and reviewing 2012 on gold, and it offers some great and perhaps stunning insight if you read through the reports and consider some of the implications through time.
You have to understand that the World Gold Council is, of course, “pro-gold” as you read through it. That being said, our take is that gold’s peak may remain elusive but is now closer rather than more distant. The gold bugs will not like this viewpoint. Just do not consider this as the town crier calling the death of gold (and silver too).
The council talks about gold’s currency-hedging perspective, its diversification qualities, its stance as a risk in tail-risk (or Black Swan) events, and even how foreign central bank diversification plays a role in gold. If you invest in the SPDR Gold Shares (NYSEMKT: GLD) and the lower-fee ETF via the ETFS Physical Swiss Gold Shares (NYSEMKT: SGOL), you better read through the report.
Gold mining investors who own the Market Vectors Gold Miners ETF (NYSEMKT: GDX) will want to pay attention. Even those who invest in silver via the iShares Silver Trust (NYSEMKT: SLV) better play attention here, because the metal known also as the Devil’s Metal is in many cases nothing more than the leveraged and speculative trade on gold. Many traders and investors think of silver as the dumb-money or poor-man’s bet on the gold market.
Gold had a weak fourth quarter, but it still rose by about 8% in dollar terms in 2012. Why are we getting somewhat cautious or leery even if the Gold Council is still optimistic? Gold has risen for 12 consecutive years now. This is no dot-com bubble. What was an asset-class trade ahead of the world recession became the ultimate flight to safety. Now it is a hedge against all global currencies as they race to devalue paper assets. Is buying the renminbi or yuan safe? What happens when the Federal Reserve and Treasury efforts include $85 billion of bond purchases per month when the U.S. deficit is out of control? Gold is a hedge against the Johann Gutenberg efforts of world central banks.
Another issue that gold investors need to consider is that the Gold Council also talks up how gold has seen low volatility despite the end-of-year price drop. Just go look a the key ETFs we talked about above. The trading volumes are generally lower. Does this mean that gold peaked? Maybe. It could just mean that gold is trying to set a new base level from which it can rally….”
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