New Infographic: Gas Prices & President Obama’s Energy Plan

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In the energy space, Apr crude oil spent all of its electronic session in the red, extending losses after floor trading opened. Crude extended losses about 35 minutes ago, reaching a new session low of $105.38. In current action, crude is -1.7% at $105.67/barrel.

Apr natural gas traded in a tight consolidative pattern in negative territory in electronic trading. Nat gas chopped around between $2.26 and $2.27 in the early morning session and just fell to a new session low of $2.25/MMBtu. Nat gas is now -3.0% at $2.26/MMBtu.

In metals, Apr gold and May silver are also trading in the red. Both precious metals attempted to recover their losses after floor trading opened, but have lost steam. Silver just moved back to its current session low of $33.56 and gold is back near its session low as well. Gold is now -1.1% at $1693.30/oz and silver is -2.1% at $33.50/oz. May copper is down 3 cents to $3.83/lb.

Market Update

Humans are the most unique animals on the planet. Because of our ability to effectively communicate, opposable thumbs, and other traits.

No other species can compare to a human’s ability to run long distances. Our two legs allow us to run long distances without excreting large amounts of energy. Humans are truly amazing unique animals, and our abilities to continue expand our span of thought show that we are capable of many more great things. I can’t imagine where the human race will be 30 years from now, but I can assure you that it will be an amazing life as we experience it.

ENGLEWOOD, Colo. — Peyton Manning’s whirlwind free-agency tour kicked off in grand fashion, complete with a chartered plane coming to pick him up and a helicopter hovering overhead as he met with the Denver Broncos.

And this was only Day 1 of his adventure.

Manning spent Friday in Tim Tebow’s neighborhood, chatting with the Broncos for nearly six hours.

Speculation was that Arizona was next up, and television crews were staking out the Cardinals’ headquarters in Tempe on Saturday. But there was no sight of the superstar.

Not that the facility was quiet. The Manning frenzy coincided with Kurt Warner’s “Ultimate Football Experience,” a fundraiser for his foundation.

Manning is the NFL’s marquee free agent after being released by the Indianapolis Colts two days ago. The Broncos rolled out the red carpet for visit by the four-time MVP.

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The major equity averages continue to chop along with modest gains. Despite a slow start, financial stocks have emerged as a source of leadership. Their newfound strength has the sector sporting a 0.7% gain. Shares of diversified financial services stocks like Citigroup (C 32.92, +0.80) and JPMorgan Chase(JPM 39.81, +0.49) are outperforming in the financial space.

Utilities stocks remain at the opposite end of the spectrum, mired in negative territory with a 0.5% loss. Consumer Staples, down 0.2%, is the only other sector in the red. DJ30 +33.56 NASDAQ +16.75 SP500 +4.58 NASDAQ Adv/Vol/Dec 1595/385 mln/680 NYSE Adv/Vol/Dec 1935/150 mln/870

Market Update

Google’s Android Market has undergone some tremendous changes over the last year or so. What started as just a standalone app store has quickly grown to encompass e-books, music, videos, and now Google feels like the “Android Market” moniker is getting to be too restrictive, too constraining for what they’re really trying to deliver to their users.

That’s why Google is officially putting the Android Market name to rest. Starting today, all of Google’s digital media services have been rebranded to fly under a brand new banner: Google Play. That’s right gadget buffs, despite some delectable new rumors Google Play isn’t a new tablet from the folks at Mountain View, but rather a unified brand that seeks to tie the company’s digital media services together.

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NEW YORK (Reuters) – The Dow dropped more than 200 points on Tuesday, handing Wall Street its worst day in three months on renewed fears of a disorderly default in Greece and concerns that China’s slowdown would hit global growth.

Analysts have expected a pullback for weeks, citing an overstretched market. Despite the day’s decline, the S&P 500 is still up almost 7 percent for the year. If fourth-quarter gains are included, the benchmark index is still up almost 20 percent since September 30.

Source

Source

Morgan Stanley is making some fairly positive comments on Molycorp (NYSE:MCP) saying falling rare earths prices have started to attract customers again.

– They think REO prices, down 25% YTD, have reached a level that will drive demand. A recovery in heavy REO prices may already be under way, with yttrium up in February. Heavy REOs should be followed by magnetic REOs (crucial to MCP’s earnings). MCP shares price in REOs at 30% of spot at full capacity.

Firm is reiterating Overweight rating and $81 PT.

The Details

Marijuana. Legalize it or not? That’s the question many states are debating; whether to legalize the recreational or medical use of Mary Jane. The arguments that marijuana is an addictive substance and can act as a gateway to harder drugs are top reasons why legalization probably hasn’t happened yet. Daily Infographic

Taiwanese industry publication DigiTimes reported on Thursday that, according to sources within Apple’s “upstream supply chain,” the iPad maker will release the smaller capacity iPad 2 in order to cover a wider price range within the tablet market and fight off threats from upcoming Windows 8-based tablets.

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Here are today’s high volume/high hybrid movers, click here for charts.

Stocks are trying to rebound after the broad market’s recent retreat to a session low. The Nasdaq is now nearing the neutral line. The dollar has modestly extended its advance so that it now leads a collection of competing currencies by about 0.4%. The move comes as market participants show a preference for less risky assets.

Market Update

Here are the hybrid movers from last Friday, click here for charts.

Courtesy of The PPT

Click here for today’s hybrid movers, courtesy of The PPT.

Financials have run higher in recent trade, resulting in a 0.8% gain for the sector. Led by the likes of diversified financial services players, Financials are now today’s top performers.

Despite leadership from the financial sector, the broad market is having difficulty building on its gains. Instead, resistance continues to cap its climb.

The improved tone among stocks has prompted some to rotate out of Treasuries. In turn, the benchmark 10-year Note is under modest pressure. Treasuries could see an increase in activity with results from an auction of 7-year Notes at the top of the hour.

Market Update

Take a look at today’s hybrid movers courtesy of The PPT, click here for charts.

The broad market continues to chop along with a modest loss, but energy stocks are displaying strength again. The Energy sector is now up 0.6%, which makes it the best performing group this morning. Energy plays also outperformed in the prior session, when the sector scored a gain of almost 1%. Helping to drive demand for shares of energy companies is the recent climb in crude oil prices, which have crossed into positive territory to trade with an incremental gain at $106.35 per barrel. Oil hasn’t consistently traded at such heights in many months.

Market Update

Stocks slipped shortly after the open, but were able to rebound for modest gains. The upward move slowed when the Dow came in contact with the 13,000 line, which was last tested in 2008.

Early participants showed little overall excitement to news that eurozone officials finally agreed to give flagging Greece another round of bailout funds. The decision by China’s leaders to reduce the reserve requirement ratio on their country’s banks was also met with little fanfare.

Although modest, a generally positive tone to morning trade helped stocks continue their upward trend before pressure took the S&P 500 to the neutral line. Support there helped restore buying interest and drive a rebound, but momentum stalled when the Dow reached the psychologically significant 13,000 line.

Walmart (WMT 59.67, -2.51) has failed to contribute to the Dow’s advance. Instead, shares of the giant retailer have dropped to a new monthly low in response to a disappointing quarterly report. Fellow blue chips Home Depot (HD 47.09, +0.38) had an upside earnings surprise, while Kraft (KFT 38.61, +0.60) matched the consensus.

No economic data of consequence has been released today, but results from an auction of 2-year Treasury Notes are due at any moment.

Market Update

Morgan Stanley, the uber bull of Amazon.com (NASDAQ:AMZN) is cutting their rating to Equal-Weight from Overweight with a $190 PT (down $30).

– Firm says they would be buyers of the stock at levels closer to $150 (~1x 2012E Net Sales) or toward the end of the more challenging year ahead.

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