Live Index – Wed, 29 Apr 2015 Premarket
June E-mini S&Ps (ESM15 -0.25%) this morning are down -0.12% before U.S. Q1 GDP data and the FOMC decision. European stocks are up +0.07% as they fluctuate between minor gains and losses. Weakness in European stocks was muted after the Eurozone Apr business climate indicator unexpectedly rose +0.09 to 0.32, an 11-month high. Asian stocks closed mostly lower: Japan closed for holiday, Hong Kong -0.15%, China +0.01%, Taiwan -1.03%, Australia -1.85%, Singapore -0.23%, South Korea -0.19%, India -0.62%.
Commodity prices are mostly lower. Jun crude oil (CLM15 -0.63%) is down -0.51% and Jun gasoline (RBM15 -0.78%) is down -0.61% ahead of today’s EIA data that is expected to show crude inventories rose +2.5 million bbl to a new record high Metals prices are weaker. Jun gold (GCM15 -0.54%) is down -0.58% and May copper (HGK15 -0.50%) is down -0.36%. Agriculture prices are mixed.
The dollar index (DXY00 -0.18%) is down -0.14% to a 1-1/2 month low on speculation the FOMC will signal that it will delay an interest rate increase. EUR/USD (^EURUSD) is up +0.14% at a 3-week high after a gauge of Eurozone business confidence rose to an 11-month high. USD/JPY (^USDJPY) is up +0.32%. GBP/USD rose +0.17% to a 1-3/4 month high on speculation the BOE may soon tighten monetary policy after UK Apr nationwide house prices rose a more-than-expected +1.0% m/m, the most in 10 months.
Jun T-note prices (ZNM15 -0.28%) are down -7.5 ticks at a 2-week low on negative carry-over from a slide in German bund prices to a 1-1/4 month low. The 10-year German bund yield jumped 8 bp to a 1-1/4 month high of 0.249% on weak demand for Germany’s 5-year note auction that received only 3.649 billion euros of bids, short of its 4 billion-euro sales goal.
The ECB raised the amount of Emergency Liquidity Assistance to the Bank of Greece by +1.4 billion euros to 76.9 billion euros. Data from the Bank of Greece show Greek Mar bank deposits by businesses and households fell -1.4% m/m to 138.6 billion euros, the sixth consecutive month of outflows and the lowest since Jan 2005.
Key U.S. reports today include: (1) the 2-day FOMC meeting that ends today (rates expected unchanged), (2) weekly MBA mortgage applications (previous +2.3% with purchase sub-index +5.0% and refi sub-index +0.6%), (3) Q1 GDP (expected +1.0% q/q annualized after Q4’s +2.2%), (4) March pending home sales (expected +1.0% m/m after Feb’s +3.1% m/m), and (5) the Treasury’s sale of $ 13 billion of 2-year floating rate notes and $ 29 billion of 7-year T-notes.
There are 42 of the S&P 500 companies that report earnings today with notable reports including: MasterCard (consensus $ 0.80), Time Warner (1.09), Waste Management (0.48), Williams Companies (0.14), Humana (2.55), NextEra Energy (1.27), Murphy Oil (-0.88).
U.S. IPO’s scheduled to price today include: Black Stone Minerals (BSM), and Viondvax Pharmaceuticals (BVXV). IPOs that are scheduled to trade today include: Enviva Partners (EVA), and Springleaf Holdings (LEAF).
Equity conferences this week include: Milken Institute Global Conference on Mon-Wed.
Humana (HUM +0.55%) reported Q1 EPS of $ 2.47, below consensus of $ 2.55.
U.S. Steel (X +1.98%) slid 7% in after-hours trading after it reported an unexpected Q1 adjusted EPS loss of -7 cents, well below consensus of a 12 cent profit.
Aflac (AFL +0.62%) reported Q1 EPS with-items of $ 1.51, below consensus of $ 1.54.
Willis Group (WSH +0.53%) reported Q1 EPS of $ 1.26, weaker than consensus of $ 1.39.
Owens-Illinois (OI +2.36%) reported Q1 EPS of 44 cents, above consensus of 42 cents, but Q1 revenue of $ 1.40 billion was below consensus of $ 1.42 billion.
Panera Bread (PNRA +0.42%) reported Q1 EPS ex-items of $ 1.41, below consensus of $ 1.44.
Tempur Sealy (TPX +0.43%) reported Q1 adjusted EPS of 55 cents, higher than consensus of 48 cents.
Western Digital (WDC -1.01%) reported Q3 EPS of $ 1.87, less than consensus of $ 1.89.
Wynn Resorts (WYNN +1.28%) reported Q1 adjusted EPS of 70 cents, well below consensus of $ 1.33.
Kraft Foods (KRFT +0.01%) reported Q1 un-adjusted EPS of 72 cents, weaker than consensus of 81 cents.
Smart & Final Stores (SFS +0.90%) reported Q1 adjusted EPS of 10 cents, better than consensus of 9 cents.
GoPro (GPRO +4.05%) jumped 11% in after-hours trading after it reported Q1 EPS of 24 cents, above consensus of 18 cents.
Buffalo Wild Wings (BWLD +2.54%) reported Q1 EPS of $ 1.52, weaker than consensus of $ 1.63.
Edison International (EIX +1.07%) reported Q1 EPS of 90 cents, higher than consensus of 79 cents.
Akamai (AKAM -1.26%) reported Q1 EPS of 61 cents, right on consensus, and Q1 revenue of $ 527 million was slightly ahead of consensus at $ 526.18 million.
Express Scripts (ESRX +0.76%) reported Q1 adjusted EPS of $ 1.10, right on conensus $ 1.10, although Q1 revenue of $ 24.90 billion was better than consensus of $ 24.34 billion.
Total System (TSS +0.42%) reported Q1 adjusted continuing operating EPS of 54 cents, better than consensus of 46 cents.
June E-mini S&Ps (ESM15 -0.25%) this morning are down -2.50 points (-0.12%). Tuesday’s closes: S&P 500 +0.28%, Dow Jones +0.40%, Nasdaq -0.22%. The S&P 500 on Tuesday closed higher on the stronger-than-expected +0.9% m/m increase in the Feb S&P CaseShiller composite-20 home price index and strength in health-care stocks after Merck boosted its earnings guidance. The stock market was able to shake off the unexpected -6.2 point decline in U.S. Apr consumer confidence index from the Conference Board to a 4-month low of 95.2.
Jun 10-year T-notes (ZNM15 -0.28%) this morning are down -7.5 ticks to a fresh 2-week low. Tuesday’s closes: TYM5 -11.50, FVM5 -5.50. Jun 10-year T-notes on Tuesday closed lower on supply pressures during this week’s T-note auction package and on the larger-than-expected increase in Feb S&P CaseShiller home price index. T-notes received support from the decline in the U.S. Apr consumer confidence index to a 4-month low.
The dollar index (DXY00 -0.18%) this morning is down -0.131 (-0.14%) to a 1-1/2 month low. EUR/USD (^EURUSD) is up +0.0015 (+0.14%) to a 3-week high. USD/JPY (^USDJPY) is up +0.38 (+0.32%). Tuesday’s closes: Dollar Index -0.673 (-0.70%), EUR/USD +0.00904 (+0.83%), USD/JPY -0.175 (-0.15%). The dollar index on Tuesday fell to a 1-3/4 month low on ideas that the FOMC at the conclusion of its meeting on Wednesday may signal that it will wait longer to raise interest rates due to the soft U.S. economy. USD/EUR saw continued weakness as the euro continued to get a boost from Monday’s news that Greek Prime Minister Tsipras is being more aggressive in seeking a bailout deal with the Eurozone.
Jun WTI crude oil (CLM15 -0.63%) this morning is down -29 cents (-0.51%) and Jun gasoline (RBM15 -0.78%) is down -0.0121 (-0.61%). Tuesday’s closes: CLM5 +0.07 (+0.12%), RBM5 -0.0144 (-0.72%). June crude oil and gasoline prices on Tuesday settled mixed with crude oil seeing weakness on expectations for Wednesday’s EIA report to show a +2.5 million bbl increase in U.S. crude oil inventories to a new record high.
|US||0700 ET||Weekly MBA mortgage applications, previous +2.3% with purchase sub-index +5.0% and refi sub-index +0.6%.|
|0830 ET||Q1 GDP expected +1.0% (q/q annualized), Q4 +2.2%. Q1 personal consumption expected +1.7%, Q4 +4.4%. Q1 GDP price index expected +0.5%, Q4 +0.1%. Q1 core PCE deflator expected +1.0% q/q, Q4 +1.1% q/q.|
|1000 ET||Mar pending home sales expected +1.0% m/m and +5.1% y/y, Feb +3.1% m/m and +12.0% y/y.|
|1030 ET||EIA Weekly Petroleum Status Report.|
|1130 ET||Treasury auctions $ 13 billion 2-year floating rate notes.|
|1300 ET||Treasury auctions $ 29 billion 7-year T-notes.|
|1400 ET||FOMC announces interest rate decision.|
|GER||0200 ET||German May GfK consumer confidence, Apr 10.0.|
|0800 ET||German Apr CPI (EU harmonized) expected -0.1% m/m and +0.2% y/y, Mar +0.5% m/m and +0.1% y/y.|
|EUR||0400 ET||Eurozone Mar M3 money supply expected +4.3% y/y and +4.1% 3-mo avg, Feb +4.0% y/y and +3.8% 3-mo avg.|
|0500 ET||Eurozone Apr business climate indicator expected -0.03 to 0.20, Mar 0.23. Apr economic confidence expected unch at 103.9.|
|0500 ET||Revised Eurozone Apr consumer confidence, previous -0.9 to -4.6.|
|UK||0200 ET||UK Apr nationwide house prices expected +0.2% m/m and +4.1% y/y, Mar +0.1% m/m and +5.1% y/y.|
|0600 ET||UK Apr CBI reported sales expected +7 to 25, Mar 18.|
|1905 ET||UK Apr GfK consumer confidence expected unch at 4.|
|JPN||n/a||Japanese markets closed for Showa Day.|
|1950 ET||Japan Mar industrial production expected -2.3% m/m and -3.4% y/y, Feb -3.1% m/m and -2.0% y/y/|
|Hess Corp||HES US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||-1.06|
|Eaton Corp PLC||ETN US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.984|
|General Dynamics Corp||GD US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||1.945|
|Goodyear Tire & Rubber Co/The||GT US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.443|
|Starwood Hotels & Resorts Worldwide Inc||HOT US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.562|
|International Paper Co||IP US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.8|
|Northrop Grumman Corp||NOC US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||2.277|
|PG&E Corp||PCG US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.7|
|Exelon Corp||EXC US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.689|
|Praxair Inc||PX US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||1.436|
|Time Warner Inc||TWX US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||1.092|
|Waste Management Inc||WM US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.478|
|Level 3 Communications Inc||LVLT US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.353|
|AMETEK Inc||AME US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.627|
|Hudson City Bancorp Inc||HCBK US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.023|
|Garmin Ltd||GRMN US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.57|
|MasterCard Inc||MA US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.803|
|MeadWestvaco Corp||MWV US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.263|
|ADT Corp/The||ADT US||Bef-mkt||Q2 2015 Earnings Release||Q2 2015||0.497|
|Humana Inc||HUM US||6:00||Q1 2015 Earnings Release||Q1 2015||2.552|
|Anthem Inc||ANTM US||6:00||Q1 2015 Earnings Release||Q1 2015||2.663|
|CBRE Group Inc||CBG US||6:30||Q1 2015 Earnings Release||Q1 2015||0.258|
|NextEra Energy Inc||NEE US||7:30||Q1 2015 Earnings Release||Q1 2015||1.265|
|Southern Co/The||SO US||7:30||Q1 2015 Earnings Release||Q1 2015||0.579|
|Owens-Illinois Inc||OI US||8:00||Q1 2015 Earnings Call||Q1 2015|
|Anthem Inc||ANTM US||8:00||Q1 2015 Earnings Call||Q1 2015|
|Mondelez International Inc||MDLZ US||8:00||Q1 2015 Earnings Release||Q1 2015||0.375|
|Genworth Financial Inc||GNW US||8:00||Q1 2015 Earnings Call||Q1 2015|
|Avery Dennison Corp||AVY US||8:30||Q1 2015 Earnings Release||Q1 2015||0.694|
|Franklin Resources Inc||BEN US||8:30||Q2 2015 Earnings Release||Q2 2015||0.861|
|Franklin Resources Inc||BEN US||8:30||Q2 2015 Earnings Call – Pre-Recorded||C2 2015|
|Express Scripts Holding Co||ESRX US||8:30||Q1 2015 Earnings Call||Q1 2015|
|AMETEK Inc||AME US||8:30||Q1 2015 Earnings Call||Q1 2015|
|Anthem Inc||ANTM US||8:30||Q1 2015 Earnings Call||C1 2015|
|LyondellBasell Industries NV||LYB US||8:30||Investor Day||Y 2015|
|ADT Corp/The||ADT US||8:30||Q2 2015 Earnings Call||Q2 2015|
|Norfolk Southern Corp||NSC US||8:45||Q1 2015 Earnings Release||Q1 2015||1.001|
|Norfolk Southern Corp||NSC US||8:45||Q1 2015 Earnings Call||Q1 2015|
|Aflac Inc||AFL US||9:00||Q1 2015 Earnings Call||Q1 2015|
|NextEra Energy Inc||NEE US||9:00||Q1 2015 Earnings Call||Q1 2015|
|General Dynamics Corp||GD US||9:00||Q1 2015 Earnings Call||Q1 2015|
|Goodyear Tire & Rubber Co/The||GT US||9:00||Q1 2015 Earnings Call||Q1 2015|
|Humana Inc||HUM US||9:00||Q1 2015 Earnings Call||Q1 2015|
|International Paper Co||IP US||9:00||Q1 2015 Earnings Call||Q1 2015|
|Range Resources Corp||RRC US||9:00||Q1 2015 Earnings Call||Q1 2015|
|CBRE Group Inc||CBG US||9:00||Q1 2015 Earnings Call||Q1 2015|
|MasterCard Inc||MA US||9:00||Q1 2015 Earnings Call||Q1 2015|
|Hess Corp||HES US||10:00||Q1 2015 Earnings Call||Q1 2015|
|Eaton Corp PLC||ETN US||10:00||Q1 2015 Earnings Call||Q1 2015|
|Gannett Co Inc||GCI US||10:00||Annual General Meeting||Y 2015|
|Waste Management Inc||WM US||10:00||Q1 2015 Earnings Call||Q1 2015|
|Level 3 Communications Inc||LVLT US||10:00||Q1 2015 Earnings Call||Q1 2015|
|Mondelez International Inc||MDLZ US||10:00||Q1 2015 Earnings Call||Q1 2015|
|MeadWestvaco Corp||MWV US||10:00||Q1 2015 Earnings Call||Q1 2015|
|Discover Financial Services||DFS US||10:00||Annual General Meeting||Y 2015|
|Marathon Petroleum Corp||MPC US||10:00||Annual General Meeting||Y 2015|
|PG&E Corp||PCG US||10:30||Q1 2015 Earnings Call||Q1 2015|
|Time Warner Inc||TWX US||10:30||Q1 2015 Earnings Call||Q1 2015|
|Garmin Ltd||GRMN US||10:30||Q1 2015 Earnings Call||Q1 2015|
|Coca-Cola Co/The||KO US||11:00||Annual General Meeting|
|Franklin Resources Inc||BEN US||11:00||Q2 2015 Earnings Call||Q2 2015|
|WW Grainger Inc||GWW US||11:00||Annual General Meeting||Y 2015|
|McGraw Hill Financial Inc||MHFI US||11:00||Annual General Meeting||Y 2015|
|Exelon Corp||EXC US||11:00||Q1 2015 Earnings Call||Q1 2015|
|Praxair Inc||PX US||11:00||Q1 2015 Earnings Call||Q1 2015|
|TECO Energy Inc||TE US||11:00||Annual General Meeting||Y 2015|
|Cincinnati Financial Corp||CINF US||11:00||Q1 2015 Earnings Call||Q1 2015|
|Equity Residential||EQR US||11:00||Q1 2015 Earnings Call||Q1 2015|
|Under Armour Inc||UA US||11:00||Annual General Meeting|
|Avery Dennison Corp||AVY US||12:00||Q1 2015 Earnings Call||Q1 2015|
|Northrop Grumman Corp||NOC US||12:00||Q1 2015 Earnings Call||Q1 2015|
|Ameriprise Financial Inc||AMP US||12:00||Annual General Meeting||Y 2015|
|Starwood Hotels & Resorts Worldwide Inc||HOT US||13:00||Q1 2015 Earnings Call||Q1 2015|
|Southern Co/The||SO US||13:00||Q1 2015 Earnings Call||Q1 2015|
|Stryker Corp||SYK US||14:00||Annual General Meeting||Y 2015|
|Unum Group||UNM US||16:00||Q1 2015 Earnings Release||Q1 2015||0.888|
|Realty Income Corp||O US||16:00||Q1 2015 Earnings Release||Q1 2015||0.666|
|Prologis Inc||PLD US||16:30||Annual General Meeting||Y 2015|
|XL Group PLC||XL US||17:00||Q1 2015 Earnings Call||Q1 2015|
|Varian Medical Systems Inc||VAR US||17:00||Q2 2015 Earnings Call||Q2 2015|
|Microsoft Corp||MSFT US||17:00||Analyst Briefing||Y 2015|
|Vertex Pharmaceuticals Inc||VRTX US||17:00||Q1 2015 Earnings Call||Q1 2015|
|Marriott International Inc/MD||MAR US||17:00||Q1 2015 Earnings Release||Q1 2015||0.695|
|XL Group PLC||XL US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||0.748|
|Lincoln National Corp||LNC US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||1.488|
|Murphy Oil Corp||MUR US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||-0.877|
|Eversource Energy||ES US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||0.803|
|Varian Medical Systems Inc||VAR US||Aft-mkt||Q2 2015 Earnings Release||Q2 2015||1.007|
|Williams Cos Inc/The||WMB US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||0.137|
|Noble Corp plc||NE US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||0.508|
|Vertex Pharmaceuticals Inc||VRTX US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||-0.769|
|Macerich Co/The||MAC US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||0.831|
|QEP Resources Inc||QEP US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||-0.311|
|Equinix Inc||EQIX US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||2.735|
|Equinix Inc||EQIX US||17:30||Q1 2015 Earnings Call||Q1 2015|
|Ball Corp||BLL US||Annual General Meeting|
|Equifax Inc||EFX US||Investor Meeting – New York||Y 2015|
|Eversource Energy||ES US||Annual General Meeting|
|Marathon Oil Corp||MRO US||Annual General Meeting|
|Amgen Inc||AMGN US||FDA Adcomm, talimogene laherparepvec, metastatic melanoma|
|BorgWarner Inc||BWA US||Annual General Meeting|