Thu May 21 2015
Live Index (1356 articles)
Share

Live Index – Thu, 21 May 2015 Premarket

PREMARKET WORLD NEWS

June E-mini S&Ps (ESM15 -0.12%) this morning are down -0.21% ahead of economic data on U.S. Apr existing home sales and weekly jobless claims to gauge the timing of a Fed interest rate increase after Wednesday afternoon’s Apr 28-29 FOMC minutes reinforced the message that rates could rise at any Fed meeting. European stocks are down -0.52 % after the Eurozone May composite PMI unexpectedly weakened. Asian stocks closed mixed: Japan +0.03%, Hong Kong -0.22%, China +1.87%, Taiwan -1.10%, Australia +0.93%, Singapore +0.01%, South Korea -1.02%, India -0.10%. Japan’s Nikkei Stock Index climbed to a new 15-year high on expectations that the weak yen will continue to give Japan’s economy a boost after Wednesday’s economic data showed Japan Q1 GDP rose +2.4% q/q annualized, the fastest pace of growth in a year. China’s Shanghai Composite Stock Index rose to a 3-week high on speculation China will expand stimulus after a gauge of Chinese manufacturing activity contracted for a third month.

Commodity prices are mostly higher. Jul crude oil (CLN15 +1.03%) is up +1.38% and Jul gasoline (RBN15 +0.59%) is up +0.99% after Wednesday’s weekly EIA data showed U.S. crude stockpiles declined, indicating the supply glut may be easing. Metals prices are higher with a weaker dollar. Jun gold (GCM15 +0.02%) is up +0.05%. Jul copper (HGN15 +0.49%) is up +0.46%. Agricultural prices are higher.

The dollar index (DXY00 -0.28%) is down -0.37%. EUR/USD (^EURUSD) is up +0.59%. USD/JPY (^USDJPY) is down -0.28%.

Jun T-note prices (ZNM15 +0.01%) are up +3 ticks.

The May Eurozone composite PMI fell -0.5 to 53.4, weaker than expectations of unch at 53.9. The May Markit manufacturing PMI unexpectedly rose +0.3 to 52.3, stronger than expectations of -0.2 to 51.8 and the fastest pace of expansion in 13 months.

The China May HSBC flash manufacturing PMI rose +0.2 to 49.1, weaker than expectations of +0.4 to 49.3 and the third month the index has remained below the contraction/expansion level of 50.0.

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) weekly initial unemployment claims (expected +6,000 to 270,000 after last week’s -1,000 to 264,000) and continuing claims (expected +5,000 to 2.234 million after unchanged at 2.229 million), (2) preliminary May Markit manufacturing PMI (expected +0.4 to 54.5 after April’s -1.6 to 54.1), (3) regional confidence surveys including the Apr Chicago Fed national activity index (expected +0.42 to 0.00 after March’s -0.24 to -0.42), May Philadelphia Fed business outlook survey (expected +0.5 to 8.0 after April’s +2.5 to 7.5), and May Kansas City Fed manufacturing activity survey (expected +3 to -4 after April’s -3 to -7), (4) Apr existing home sales (expected +0.6% to 5.22 million after March’s +6.1% to 5.19 million), (5) Apr leading indicators (expected +0.3% after March’s +0.2%), and (6) the Treasury’s auction of $ 13 billion of 10-year TIPS.

There are 7 of the S&P 500 companies report earnings today: HP (consensus $ 0.86), Best Buy (0.29), GAP (0.56), Ross Stores (1.28), Intuit (2.75), Dollar Tree (0.75), Patterson Cos (0.65).

U.S. IPO’s scheduled to price today include: Emerald Oil (EOX), Manhattan Bridge Capital (LOAN).

Equity conferences during the remainder of this week include: BMO Farm to Market Conference on Wed-Thu, Janney Montgomery Scott-Company Marketing: Biotechnology-Southeast on Fri.

PREMARKET U.S. STOCKS

Dollar Tree (DLTR -1.66%) lowered guidance on Q2 EPS ex-acquisition costs to 63 cents-68 cents, below consensus of 70 cents.

Bon-Ton Stores (BONT -1.49%) reported a Q1 EPS loss of -$ 1.74, a larger loss than consensus of -$ 1.56.

Omnicare (OCR +2.48%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Cowen.

Citigroup maintains a ‘Buy’ rating on Netflix (NFLX +0.82%) and raised its price target on the stock to $ 722 from $ 584.

Vodafone (VOD +2.60%) was upgraded to ‘Neutral’ from ‘Reduce’ at Nomura.

Nike (NKE -0.03%) was initiated with a ‘Buy’ at Jefferies with a price target of $ 120.

Best Buy (BBY -3.43%) jumped over 9% in pre-market trading after reported Q1 EPS of 37 cents, better than consensus of 29 cents.

CVS Health (CVS -1.03%) agreed to acquire Omnicare (OCR) for $ 98 a share.

Salesforce.com (CRM -1.85%) rallied more than 6% in after-hours trading on postive earnings.

Williams-Sonoma (WSM -0.43%) rallied 4% in after-hours trading on positive earnings.

NetApp (NTAP -0.06%) fell 8% in after-hours trading on disappointing earnings and then was downgraded to ‘Underweight’ from ‘Neutral’ at JPMorgan Chase.

MARKET COMMENTS

June E-mini S&Ps (ESM15 -0.12%) this morning are down -4.50 points (-0.21%). Wednesday’s closes: S&P 500 -0.09%, Dow Jones -0.15%, Nasdaq +.03%. The S&P 500 on Wednesday closed slightly lower as some long liquidation pressure emerged. However, stocks saw support from the FOMC minutes, which said that many members believed that rates would not be raised at the June meeting. In addition, there was some carry-over support from the +0.35% rally in the Euro Stoxx on relief that the ECB did not raise the haircut on Greek bank collateral and only needed to raise the Greek ELA by 200 million euros.

June 10-year T-notes (ZNM15 +0.01%) this morning are up +3 ticks. Wednesday’s closes: TYM5 +7.50, FVM5 +6. Jun T-notes on Wednesday closed higher on some relief that the April 28-29 FOMC minutes downplayed the chances for a rate hike in June. The main bearish factor was the -0.22 point sell-off in June German bund prices.

The dollar index (DXY00 -0.28%) this morning is down -0.355 (-0.37%). EUR/USD (^EURUSD) is up +0.0065 (+0.59%). USD/JPY (^USDJPY) is down -0.34 (-0.28%). Wednesday’s closes: Dollar Index +0.359 (+0.38%), EUR/USD -0.0056 (-0.50%), USD/JPY +0.66 (+0.55%). The dollar index on Wednesday closed higher on technical buying with the new 2-week high. EUR continued to see weakness from the ECB’s statement earlier this week about boosting the size of QE in May-June to offset reduced liquidity during the summer.

July WTI crude oil (CLN15 +1.03%) is up +82 cents (+1.39%). July gasoline (RBN15 +0.59%) is up +0.0201 (+0.99%). Wednesday’s closes: CLN5 +0.99 (+1.71%), RBN5 +0.0438 (+2.21%). Jul crude oil and gasoline prices on Wednesday closed sharply higher on a bullish weekly EIA report. The EIA report showed a (1) -2.67 million bbl decline in U.S. crude oil inventories (vs expectations of -2 million bbls), (2) a -2.77 million bbl drop in gasoline inventories, and (3) a sharp -1.2% drop in U.S. crude oil production.

GLOBAL EVENT CALENDAR05/21/2015
US0830 ETWeekly initial unemployment claims expected +6,000 to 270,000, previous -1,000 to 264,000. Weekly continuing claims expected +5,000 to 2.234 million, previous unch at 2.229 million.
0830 ETApr Chicago Fed national activity index expected +0.42 to 0.00, Mar -0.24 to -0.42.
0830 ETUSDA weekly Export Sales.
0945 ETPreliminary May Markit manufacturing PMI expected +0.4 to 54.5, April -1.6 to 54.1.
1000 ETMay Philadelphia Fed business outlook survey expected +0.5 to 8.0, Apr +2.5 to 7.5
1000 ETApr existing home sales expected +0.6% to 5.22 million, Mar +6.1% to 5.19 million.
1000 ETApr leading indicators expected +0.3%, Mar +0.2%.
1100 ETMay Kansas City Fed manufacturing activity survey expected +3 to -4, Apr -3 to -7.
1100 ETTreasury announces amount of 2-year T-notes (previous $ 26 billion), 2-year floating-rate notes (previous $ 15 billion), 5-year T-notes (previous $ 35 billion), and 7-year T-notes (previous $ 29 billion) to be auctioned May 26-28
1300 ETTreasury auctions $ 13 billion of 10-year TIPS.
1900 ETSan Francisco Fed President John Williams speaks on a panel at Stanford on Impact of Reform in Practice Central Bank Governance and Oversight Reform.
JPN0030 ETJapan Mar all-industry activity index expected -0.5% m/m, Feb +0.1% m/m.
GER0330 ETGerman May Markit/BME manufacturing PMI expected -0.1 to 52.0, Apr 52.1. May Markit services PMI expected -0.1 to 53.9, Apr 54.0.
EUR0400 ETEurozone May Markit manufacturing PMI expected -0.2 to 51.8, Apr 52.0. May composite PMI expected unch at 53.9.
1000 ETEurozone May consumer confidence expected -0.2 to -4.8, Apr -4.6.
n/aECB President Mario Draghi speaks at an ECB Forum on central banking in Sintra, Portugal.
UK0430 ETUK Apr retail sales including auto fuel expected +0.4% m/m and +3.7% y/y, Mar -0.5% m/m and +4.2% y/y.
0430 ETUK Apr retail sales ex auto fuel expected +0.2% m/m and +3.7% y/y, Mar +0.2% m/m and +5.0% y/y.
0600 ETUK May CBI trends total orders expected +2 to 3, Apr 1. May CBI trends selling prices, Apr -3.
U.S. STOCK CALENDAR05/21/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Patterson Cos IncPDCO USBef-mktQ4 2015 Earnings ReleaseQ4 20150.65
Dollar Tree IncDLTR USBef-mktQ1 2016 Earnings ReleaseQ1 20160.745
Best Buy Co IncBBY US7:00Q1 2016 Earnings ReleaseQ1 20160.293
Aflac IncAFL US8:00Analysts BriefingY 2015
Best Buy Co IncBBY US8:00Q1 2016 Earnings CallQ1 2016
L Brands IncLB US8:30Annual General MeetingY 2015
KeyCorpKEY US8:30Annual General MeetingY 2015
ACE LtdACE US8:45Annual General MeetingY 2015
Home Depot Inc/TheHD US9:00Annual General MeetingY 2015
Lincoln National CorpLNC US9:00Annual General MeetingY 2015
Comcast CorpCMCSA US9:00Annual General MeetingY 2015
FLIR Systems IncFLIR US9:00Analyst and Investor DayY 2015
Dollar Tree IncDLTR US9:00Q1 2016 Earnings CallQ1 2016
L Brands IncLB US9:15Q1 2016 Earnings CallQ1 2016
Interpublic Group of Cos Inc/TheIPG US9:30Annual General MeetingY 2015
Marsh & McLennan Cos IncMMC US10:00Annual General MeetingY 2015
McDonald’s CorpMCD US10:00Annual General MeetingY 2015
Unum GroupUNM US10:00Annual General MeetingY 2015
Cablevision Systems CorpCVC US10:00Annual General Meeting
Mohawk Industries IncMHK US10:00Annual General Meeting
Patterson Cos IncPDCO US10:00Q4 2015 Earnings CallQ4 2015
Quanta Services IncPWR US10:00Annual General Meeting
NextEra Energy IncNEE US11:00Annual General MeetingY 2015
Hasbro IncHAS US11:00Annual General MeetingY 2015
AvalonBay Communities IncAVB US11:00Annual General MeetingY 2015
Level 3 Communications IncLVLT US11:00Annual General MeetingY 2015
Dr Pepper Snapple Group IncDPS US11:00Annual General MeetingY 2015
Vornado Realty TrustVNO US11:30Annual General MeetingY 2015
Intel CorpINTC US11:30Annual General MeetingY 2015
Goldman Sachs Group Inc/TheGS US11:30Annual General MeetingY 2015
Mattel IncMAT US12:00Annual General MeetingY 2015
Gap Inc/TheGPS US16:00Q1 2016 Earnings ReleaseQ1 20160.556
Ross Stores IncROST US16:00Q1 2016 Earnings ReleaseQ1 20161.278
Ross Stores IncROST US16:15Q1 2016 Earnings CallC1 2016
Ross Stores IncROST US16:15Q1 2016 Earnings CallQ1 2016
Intuit IncINTU US16:30Q3 2015 Earnings CallQ3 2015
Gap Inc/TheGPS US17:00Q1 2016 Earnings CallQ1 2016
Hewlett-Packard CoHPQ US17:00Q2 2015 Earnings CallQ2 2015
Hewlett-Packard CoHPQ USAft-mktQ2 2015 Earnings ReleaseQ2 20150.857
Intuit IncINTU USAft-mktQ3 2015 Earnings ReleaseQ3 20152.747
Equifax IncEFX USInvestor Meeting – FrankfurtY 2015
Leucadia National CorpLUK USAnnual General MeetingY 2015
Robert Half International IncRHI USAnnual General Meeting
Williams Cos Inc/TheWMB USAnnual General Meeting
Flowserve CorpFLS USAnnual General Meeting
Expeditors International of Washington IncEXPD USAnnual General MeetingY 2015
CBS CorpCBS USAnnual General Meeting
Martin Marietta Materials IncMLM USAnnual General Meeting
VeriSign IncVRSN USAnnual General Meeting
Navient CorpNAVI USAnnual General Meeting

Copyright (2015) © LiveIndex.org


Tags PMI, Premarket
Live Index

Live Index