Tag Archives: earnings

Utilities Help Push Stocks Higher

U.S. equities traded mostly higher on Monday, led by utilities, following a slew of corporate news and the release of solid economic data, but an investigation into new Hillary Clinton emails kept investors on edge.

That said, Raymond James Chief Investment Strategist Jeffrey Saut said he still expects stocks to end the year at all-time highs. “Fundamentals have changed. GDP has come in better than expected and … earnings have improved,” he said. Saut added that stocks weren’t trading much more lower on Monday because Clinton is “still the odds-on-favorite” to win.

The U.S. economy grew 2.9 percent in the third quarter, according to Commerce Department data released Friday.

U.S. stock futures rose slightly before the bell, as investors parsed through corporate earnings, a merger announcement between Baker Hughes and General Electric, and economic data.

In economic news, consumer spending rose more than expected in September as households boosted purchases of motor vehicles and inflation increased steadily, which could bolster expectations of an interest rate hike from the Federal Reserve in December.

The Commerce Department said on Monday that consumer spending, which accounts for about 70 percent of U.S. economic activity, increased 0.5 percent after a downwardly revised 0.1 percent drop in August.

Coming Up:

Monday:

9:45 a.m. Chicago PMI

Tuesday:

Fed meeting begins
Monthly vehicle sales
9:45 a.m. Manufacturing PMI
10:00 a.m. ISM manufacturing
10:00 a.m. Construction spending

Wednesday:

8:15 a.m. ADP employment
2:00 p.m. FOMC statement

Thursday:

8:30 a.m. Initial claims
8:30 a.m. Productivity and costs
9:45 a.m. Services PMI
10:00 a.m. ISM nonmanufacturing
10:00 a.m. Factory orders

Friday:

8:30 a.m. Employment report
8:30 a.m. International trade

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Stocks Mixed On Huge Earnings Day

U.S. stocks traded mixed on Tuesday as one of the busiest days of the earnings season got under way.

The Dow Jones industrial average traded slightly lower, with Procter & Gamble contributing the most gains to the tune of 20 points, but Home Depot shaved off approximately 20 points. The S&P 500 fell 0.1 percent, with consumer discretionary leading decliners. The Nasdaq composite held around breakeven.

More than 90 companies were scheduled to post quarterly results on Tuesday. Dow components 3M, Caterpillar and DuPont reported earnings before the bell. Caterpillar and 3M posted mixed results, as both beat estimates on the bottom line, while missing on revenues. Caterpillar also lowered its 2016 earnings per share guidance.

Coming Up:

Tuesday

Earnings:

ATB: Apple, AT&T, Chipotle Mexican Grill, Capital One, Discover Financial, Express Scripts, Juniper Networks, Vertex Pharma, iRobot, Pandora Media, Panera Bread, Owens-Illinois

9 a.m.: Case-Shiller Home Price Index

9 a.m.: FHFA Home Price Index

10 a.m.: Consumer confidence

1 p.m.: $26 billion two-year Treasury note auction

Wednesday

8:30 a.m.: U.S. trade deficit

9:45 a.m.: Markit services PMI

10 a.m.: New home sales

1 p.m.: $34 billion five-year Treasury note auction

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Stock Market Higher on Positive Banking Earnings

U.S. equities rose on Friday as investors parsed through quarterly results from several big banks and economic data.

The Dow Jones industrial average rose more than 150 points before holding about 110 points higher, with Goldman Sachs contributing the most gains. The S&P 500 rose approximately 0.4 percent, with information technology and financials leading advancers.

The Nasdaq composite gained 0.4 percent.

JPMorgan Chase, Wells Fargo and Citigroup all posted better-than-expected quarterly results, beating estimates on both the top and bottom lines.

In economic news, U.S. retail sales rose 0.6 percent in September, matching expectations. Meanwhile, the Labor Department said its producer price index for final demand increased 0.3 percent after being unchanged in August.

Other data released Friday included business inventories, which rose 0.2 percent in August. Meanwhile, October consumer sentiment came in at 87.9, well below an estimate of 92, as concerns over the U.S. presidential election weighed.

Investors have been heavily scrutinizing U.S. economic data recently, trying to gauge the likelihood that the Federal Reserve raises interest rates later this year. According to the CME Group’s FedWatch tool, market expectations for a December rate hike are more than 60 percent.

The dollar rose 0.43 percent against a basket of currencies, with the euro near $1.099 and the yen around 104.18.

In oil markets, U.S. crude traded about 1 percent lower at $49.96 per barrel.

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Stocks Try For Gains As Energy Rises

U.S. stocks traded in a narrow range Thursday as the Federal Reserve’s Wednesday announcement remained in focus amid several data releases.

The Dow Jones industrial average tried for slight gains in morning trade, with Exxon Mobil and Boeing among the top contributors to gains.

Energy led S&P 500 advancers.

Coming Up:

Thursday

Earnings: Adobe Systems
10 a.m.: JOLTS
10 a.m.: Leading indicators
10:30 a.m.: Natural gas inventories
4:30 p.m.: Fed balance sheet/Money supply

Friday

Quadruple Witching
Earnings: Tiffany
9 a.m.: New York Fed President William Dudley speaks
10 a.m.: Consumer sentiment
10 a.m.: Atlanta Fed business inflation expectations
11 a.m.: Boston Fed President Eric Rosengren speaks
1 p.m.: Oil rig count
1:30 p.m.: St. Louis Fed President James Bullard

Dow Briefly Up 100 Points

Stocks traded higher today, helped by a risingoil prices, following the release of the Fed’s statement.

Federal Reserve  Chairwoman Janet Yellen said in a press conference following the statement release that policymakers have not concluded inflation has seen a significant, lasting uptick.

The Dow 30  briefly gained 100 points, with Chevron, Caterpillar and IBM among the top contributors to gains. Goldman Sachs was the greatest contributor to declines.

Coming Up Later This Week:

Thursday

Bank of England monetary policy announcement and minutes

Earnings: Tencent, Michaels Cos., Intl. Game Technology, Lands’ End, Adobe Systems

8:30 a.m.: Jobless claims

8:30 a.m.: Philly Fed business outlook survey

8:30 a.m.: Current account

10 a.m.: JOLTS

10 a.m.: Leading indicators

10:30 a.m.: Natural gas inventories

4:30 p.m.: Fed balance sheet/Money supply

Friday

Quadruple Witching

Earnings: Tiffany

9 a.m.: New York Fed President William Dudley speaks

10 a.m.: Consumer sentiment

10 a.m.: Atlanta Fed business inflation expectations

11 a.m.: Boston Fed President Eric Rosengren speaks

1 p.m.: Oil rig count

1:30 p.m.: St. Louis Fed President James Bullard

Nasdaq briefly positive; Street awaits Fed

WEDNESDAY – U.S. stocks traded in narrow range Wednesday after morning data and ahead of the scheduled afternoon conclusion of the Fed meeting.

Treasury yields climbed, with the 2-year topping 1 percent for its highest since Jan. 8, after inflation and housing data.

Stocks opened lower and held mostly in the red in morning trade. The Nasdaq composite briefly attempted gains.

The FOMC is due to conclude its two-day meeting on Wednesday with the 2 p.m. ET release of its statement and economic projections. Those include the highly scrutinized “dot plot,” which shows the targets for appropriate federal funds rates by FOMC participants. Fed Chair Janet Yellen is also scheduled to give a news conference at 2:30 p.m.

Oil traded higher, with WTI above $37 a barrel following news producers will meet next month in Qatar to discuss a proposal to freeze output.

Coming Up:

Wednesday

Earnings: FedEx, Ctrip.com Intl., Guess, Herman Miller, Jabil Circuit
10:30 a.m.: Oil inventories
1 p.m.: European Central Bank President Mario Draghi gives welcoming remarks at ECB Contemporary Art From Poland Exhibition
2 p.m.: FOMC meeting announcement
2:30 p.m.: Fed Chair Janet Yellen press conference

Thursday

Bank of England monetary policy announcement and minutes
Earnings: Tencent, Michaels Cos., Intl. Game Technology, Lands’ End, Adobe Systems
8:30 a.m.: Jobless claims
8:30 a.m.: Philly Fed business outlook survey
8:30 a.m.: Current account
10 a.m.: JOLTS
10 a.m.: Leading indicators
10:30 a.m.: Natural gas inventories
4:30 p.m.: Fed balance sheet/Money supply

Stocks Tick Lower

U.S. stocks traded lower Thursday, but holding much of the week’s gains, after service sector reports and ahead of Friday’s jobs data.

The ISM non-manufacturing survey for February came in at 53.4. The figure was expected at 53, down from 53.5 in January.

January factory orders rose 1.6 percent.

The 2-year Treasury yield edged lower to 0.84 percent. The 10-year yield held steady at 1.85 percent.

The U.S. dollar index extended losses, with the euro at $1.093.

The final February Markit services PMI was 49.7, down from January’s final 53.2 print

Oil held lower in choppy trade but remained above $34 a barrel as of 9:53 a.m.
Coming Up:
Thursday
Earnings: Kroger, Royal Ahold, Barnes and Noble, Joy Global, Broadcom, Embraer, Ciena, Trina Solar, Cooper Cos.
10:30 a.m.: Natural gas inventories
10:45 a.m.: Dallas Fed President Rob Kaplan speaks
Friday
Earnings: Staples, WPP Group
8:30 a.m. Employment report; international trade
1 p.m.: Oil rig count

Stocks Slightly Higher After Data

U.S. stocks traded mostly higher Friday, on pace to end the week with solid gains, as oil prices rose amid some data reports.

Personal income in January rose 0.5 percent, while personal spending rose 0.5 percent. The core PCE, which excludes food and energy, rose 0.3 percent.

The core PCE price index, the Fed’s preferred inflation measure, increased 1.7 percent in the 12 months through January, the largest rise since July 2014, after rising 1.5 percent in December.

Stocks pared gains following the report and the Dow Jones industrial average briefly fell into negative territory. Oil also came off session highs.

As of this morning, the major U.S. averages were on pace to end the week with gains of more than 2 percent.

The S&P 500 closed above the key 1,950 resistance level Thursday as stocks rallied into the close. Both the S&P 500 and Dow Jones industrial average were within 10 percent of their 52-week intraday highs, out of correction territory.

Coming Up:

G-20 meets in Shanghai
10 a.m. Consumer sentiment, personal income, consumer spending
Earnings: J.C. Penney, Foot Locker, Sotheby’s, Sempra Energy, AmericanTower, Centerpoint, Liberty Media, Telefonica, Rowan Cos

Saturday:
Earnings: Berkshire Hathaway

Stocks Lower on Weak Service Data

WEDNESDAY – U.S. stocks were lower on Wednesday, erasing initial gains, despite an oil bounce and decent jobs data.

The Dow briefly rose 100 points shortly after the open and fell 100 after the ISM non-manufacturing index reading for January came in weaker than expected.

Coming Up This Week:

Wednesday

Earnings: MetLife, Allstate, AvalonBay, Boston Properties, GoPro, Lincoln Natl., NXP Semiconductor, Yum Brands
9:45 a.m. Services PMI
10 a.m. ISM nonmanufacturing
10:30 a.m.: Oil inventories

Thursday

Earnings: AstraZeneca, ConocoPhillips, Philip Morris, Cigna, Clorox, Credit Suisse, Dunkin Brands, NY Times, Tempur Sealy, Hartford Fincl., LinkedIn, News Corp., Symantec, Decker’s Outdoor, DeVry Education, Lions Gate
7:30 a.m.: Challenger Job-Cut Report
8:30 a.m. Initial claims; productivity and costs
10 a.m. Factory orders
10:30 a.m.: Natural gas inventories
4:30 p.m.: Fed Balance Sheet/Money Supply
5 p.m. Cleveland Fed President Loretta Mester on economy, policy

Friday

Earnings: BNP Paribas, Nippon Telegraph, Estee Lauder, Toyota Motors, Tyson Foods, Moody’s, Weyerhaeuser, Aon, CME Group, Ametek
8:30 a.m. Employment report; international trade
1 p.m.: Oil rig count
3 p.m. Consumer credit, Treasury STRIPS

Knight Cap: Stocks Set to Slingshot Higher

According to Knight Capital managing director Peter Kenny, concerns over Q4 earnings are wildly  overdone. Not only that, he sees stocks moving up to 5% higher from here until the next round of debt ceiling debates start kicking in next month.

Kenny says Q4 earnings will not be as “ugly as many people are projecting.” Given that some of those people are corporate CEOs, the burden of proof for supporting this statement falls to Kenny. His bullish thesis stems from the following:

  • The U.S. hit an earnings trough in the middle or back end of 2012
  • GDP estimates for 2013 are strong
  • There’s still money on the sidelines waiting to be poured into stocks either on dips or to chase stocks higher if that dip never happens

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