Posts Tagged ‘week’

Overseas stock markets are mostly in the red this morning, but equity futures at home are pointing to a strong open ahead of spending, manufacturing, and construction data. Dow futures are up 37 points to 10,997 and S&P 500 futures are up 5.50 points to 1,189.00. Meantime, WTI crude oil is trading 26 cents higher at $86.41 per barrel and Spot Gold is up $3.15 to $1,182.35. The 2 year Treasury note is -0-01 at 100-01 yielding 0.98% and the 10 year Treasury note is -0-09 at 99-13 yielding 3.695%. Sentiment elsewhere is in reverse, however, despite a Eurozone agreement for Greece. “Global markets are lacking the will to rally this morning ― although the U.K., Japan and China are closed ― and the euro failed to stabilize, tumbling below $1.322, despite hard work over the weekend that…(read more)

Stock markets are looking to open the final week of April looking up after the benchmark S&P 500 added 2.1% last week. Positive earnings results were the main driver of those gains “as a whopping 84% of S&P 500 companies so far ... have beaten expectations,” said economists at BMO Capital Markets. They noted that the historical norm is just 66%. One hour ahead of the opening bell on Monday, Dow futures are up 33 points to 11,175 and S&P 500 futures are trading 2.25 points higher at 1,214.50. The 2 year Treasury note is +0-01 at 99-29 yielding 1.045% and the 10 year note is +0-06 at 98-20 yileding 3.794%. The commodities picture is mixed: WTI crude oil is up 32 cents to $85.35 per barrel, while Spot Gold is off $1.60 to $1,156.00. In terms of economic data, the week opens...(read more)

With little economic data released until Thursday this week, investor attention should remain focused on first-quarter earnings releases, plus continued speculation on the Securities and Exchange Commission’s lawsuit against Goldman Sachs. Before the Friday announcement that the SEC was charging Goldman with fraud , all three indexes in the US were at 52-week highs. This morning, ahead of Q1 earnings from Citigroup, Halliburton and IBM, stock futures are sharply lower. Dow Futures are down 47 points to 10,937 and S&P 500 futures are off 5.75 points to 1,184.50. The 2 year Treasury note is -0-00 at 100-02 yielding 0.963% and the 10 year Treasury note is -0-02 at 98-23 yielding 3.78%. Commodities are also weaker with WTI crude oil trading $2.35 lower at $80.89 per barrel and Spot Gold...(read more)

Expectations for this week’s data is solidly optimistic as economists have recently been revising their forecasts for 2010 growth upwards. As Ellen Zentner from BTMU noted, “The most reliable broad indicators of the U.S. economy are expanding at a healthy clip, suggesting that first quarter growth will come in around 3.5% with all of 2010 coming in around 3.2%.” Although Monday begins the week on a slow note in terms of fresh data, the rest of the week is packed with housing data, retail sales, industrial production, and regional manufacturing indexes. In addition, countless officials from the Federal Reserve are on the speaking circuit from Tuesday to Friday. And even if the week were slow, investors would still be busy as stock prices trade at their highest levels since…(read more)

The Dow closed last Thursday at an 18-month high, and with equity investors now able to react to Friday’s nonfarm payrolls report, the market should open sharply higher this morning. The economy added 162k jobs last month, the biggest one-month gain in exactly three years. READ MORE One hour before the opening bell, Dow futures are up 41 points to 10,901 and S&P 500 futures are up 4.50 points to 1,178.25. Also, NYMEX crude oil futures are 60 cents higher to $85.47 per barrel and Gold is up $2.00 to $1,128. The week ahead is relatively slow for data but there are plenty of events that might offer the markets new insight. Monday is an exception with the ISM Non-Manufacturing Index and the Pending Home Sales Index each hitting the headlines this morning. Key Events This Week: Monday...(read more)

90 minutes before the opening bell sounds to begin a holiday-shortened week, equity futures are sharply upwards. The Dow looks to open 52 points higher at 10,850 and futures on the S&P 500 are up 4.50 points to 1,168.00 Commodities are also on the rise with NYMEX crude oil contracts (May) up 67 cents to $80.00 per barrel and Gold up $5.70 to $1,111.10. Data this week should be supportive of continued recovery in the economy, with the week likely ending on a highly positive note for employment. But investors will have plenty to consider after Treasury auctions saw a drawback in demand last week. Key Events This Week: Monday: 8:30 ― Personal Income & Outlays should show modest consistent gains in income, decent growth in consumer spending, and tame inflation. According to economists,...(read more)

Financial markets don’t seem pleased by the $940 billion healthcare bill. One morning after the House of Representatives passed the President’s initiative, equity markets are sharply lower. One hour before the open, Dow futures are off 53.00 points to 10,634 and S&P 500 futures are down 7.30 points to 1,149 Meantime, crude oil futures are down $1.26 to $79.71 per barrel while Gold is lower by $3.30 to $1,104.30. Economists from BMO point out that global economics concerns are also pushing down equity prices Monday. “Worries about policy tightening in Asia, following India’s rate hike last Friday afternoon, and ongoing concerns over Greece are weighing on global equity markets,” they wrote early morning. “The US$ is mildly stronger, as are Treasuries,...(read more)

Equity markets are mostly lower across the globe Monday, leading US stocks to open sharply lower ahead of a moderately busy schedule. Two hours before the bell sounds, Dow futures are off 30 points to 10,543 and S&P 500 futures are down 4.50 points to 1,142.00. Commodity prices are mixed as WTI crude oil is trading down 58 cents to $80.66 per barrel but Spot Gold prices are up $2.37 to $1,104.27. Key Events This Week: Monday: 8:30 ― The Empire State Manufacturing Index is expected to expand for the eighth consecutive month in March. The consensus expects the index to fall 3 points to 22.0 in March, reflecting strong growth overall in the region. Economists from Nomura worry that the strong figures in February may not have been wholly accurate due to the early timing of the release. “Most...(read more)

Equity futures are moderately higher ahead of a fairly light week of economic data. Dow futures are trading 18 points higher at 10,563 and S&P 500 futures are up a 2 points to 1,138. Commodities are also edging slightly higher with WTI crude oil up 33 cents to $81.83 per barrel and Spot Gold up 54 cents to $1,135.19. Meantime, the US dollar is a bit lower against the euro since France’s Nicolas Sarkozy said the continent would help Greece: “if it were necessary, the states of the euro zone would fulfill their commitments.” In terms of data the week ahead doesn’t quite begin until Wednesday afternoon when the Treasury releases its budget statement. On Thursday, weekly jobless claims will be accompanied by the monthly trade balance. Friday’s retail sales index...(read more)

Markets are optimistic ahead of a week packed full of data. Equities are looking for a higher opening, commodities are mixed, the dollar is slightly up, and Treasuries are softer. About two hours before the open, Dow futures are up 33 points to 10,344 and S&P 500 futures are 3.50 points higher at 1,106.90. WTI crude oil is up 36 cents to $80.02 per barrel, but Spot Gold is down $2.15 to $1115.45. Key Events This Week: Monday: 8:30 ― Personal Income & Outlays are each expected to advance by 0.4% in January, while the Core PCE price index (inflation) is expected to remain flat. In December, income rose 0.4%, outlays edged up 0.2%, and core PCE inched up 0.1%. Economists at BBVA note the expected gain in income will be the seventh month in a row. “However, as in the previous month...(read more)