Mon Jul 06 2015
Live Index (1454 articles)

Live Index – Mon, 06 Jul 2015 Premarket


September E-mini S&Ps (ESU15 -0.63%) are down -0.62% at a 3-month low and European stocks are down -1.73% at a 4-3/4 month low after Greek voters voted ‘No’ to austerity measures. The ECB will meet today to discuss its next move and German Chancellor Merkel will meet with French President Hollande today before Eurozone leaders meet on Tuesday. Stocks recovered from their worst levels after Greek Finance Minister Vaoufakis resigned, which boosted speculation a last-minute deal with Greece’s creditors was possible. Another positive for European stocks was the upward revision to the Eurozone Jun Markit composite PMI which was revised higher to its best level since the data series began in 2012. Asian stocks closed mostly lower: Japan -2.08%, Hong Kong -3.18%, China +2.41%, Taiwan -1.09%, Australia -1.14%, Singapore -0.29%, South Korea -2.50%, India +0.41%. China’s Shanghai Composite closed higher after the government over the weekend suspended initial public offerings and the PBOC said it would provide liquidity for margin trading.

Commodity prices are mostly lower. Aug crude oil (CLQ15 -2.32%) is down -4.67% at a 2-1/2 month low, Aug gasoline (RBQ15 -1.57%) is down -3.31%. Metals prices are mixed. Aug gold (GCQ15 -0.30%) is up +0.07%. Sep copper (HGU15 -3.04%) is down -3.93% at a 5-month low. Agricultural prices are weaker as a stronger dollar and drier weather pressured grain prices.

The dollar index (DXY00 +0.38%) is up +0.35% at a 1-month high. EUR/USD (^EURUSD) is down -0.71% at a 1-week low. USD/JPY (^USDJPY) is up +0.09%.

Sep T-note prices (ZNU15 +0.26%) are up ticks at a 5-week high as global government bonds rally after the Sunday’s Greek ‘No’ vote to austerity increases the chances that Greece will be forced to exit the Eurozone.

In an attempt to stop the recent plunge in Chinese stocks, China’s State Council suspended initial public offerings and the China Securities Regulatory Commission (CSRC) said 21 brokerages pledged not to reduce any proprietary investments in the equity market as long as the Shanghai Composite Index stays below 4,500. The PBOC also said it will offer China Securities Finance Corp., which manages China’s short selling and margin trading, liquidity support, according to a statement on the CSRC website on Sunday.


Key U.S. news today includes: (1) final-Jun Markit U.S. services PMI (expected +0.1 to 54.9 after prelim-Jun -1.4 to 54.8), (2) Jun ISM non-manufacturing index (expected +0.7 to 56.4 after May’s -2.1 to 55.7), and (3) Jun Labor Market Conditions Index (expected 2.0 vs May’s 1.3).

None of the Russell 1000 companies report earnings today.

U.S. IPO’s scheduled to price today include: NephroGenex (NRX).

Equity conferences this week: none.


Celanese (CE +2.39%) was downgraded to ‘Neutral’ from ‘Buy’ at UBS.

Intuitive Surgical (ISRG +0.09%) was downgraded to ‘Underweight’ from ‘Equal Weight’ at Morgan Stanley.

Guess (GES -0.88%) was upgraded to ‘Neutral’ from ‘Underweight’ at Piper Jaffray.

Aegerion (AEGR -1.27%) was downgraded to ‘Sell’ from ‘Neutral’ at Guggenheim.

VMware (VMW +0.40%) was downgraded to ‘Market Perform’ from ‘Outperform’ at FBR Capital.

Bank of America (BAC -1.10%) and Citigroup (C -0.56%) both fell over 1% in pre-market trading as financial stocks fell across the globe following the results of the Greek referendum.

Humana (HUM -2.92%) jumped over 8% in pre-market trading after Aetna agreed to buy the health insurer for about $ 35 billion,

The Financial Times reported that Royal Bank of Scotland (RBS +0.89%) could potentially face a judgment of nearly $ 13 billion in a case related to the subprime mortgage crisis.

Pershing Square reported a 13.2% stake in Howard Hughes (HHC -0.81%) .

Man Group reported a 5.31% stake in Perfect World (PWRD -0.25%) .

Point72 Asset Management reported a 5.1% passive stake in SPX Corp. (SPW -0.65%) .

Frigate Ventures reported a 6.8% passive stake in Novogen (NVGN unch) .


September E-mini S&Ps (ESU15 -0.63%) this morning are down -12.75 points (-0.62%0 at a 3-month low. Thursday’s closes: S&P 500 -0.03%, Dow Jones -0.16%, Nasdaq +0.09%. The S&P 500 on Thursday settled slightly lower on (1) the slightly weaker-than-expected +223,000 increase in U.S. Jun payrolls and the downward revision in May payrolls to +254,000 from +280,000, and (2) the -1.0% drop in U.S. May factory orders, weaker than expectations of -0.5%. On the supportive side for stocks, the U.S. Jun unemployment rate fell -0.2 to a 7-year low of 5.3%, a bigger decline than expectations of -0.1 to 5.4%.

Sep 10-year T-notes (ZNU15 +0.26%) this morning are up +24.5 ticks at a 5-week high. Thursday’s closes: TYU5 +13.00, FVU5 +10.00. Sep T-notes on Thursday closed higher on the weaker-than-expected +223,000 increase in U.S. Jun payrolls and Jun average hourly earnings, which may push back the timing of a Fed interest rate increase.

The dollar index (DXY00 +0.38%) this morning is up +0.341 (+0.35%) at a 1-month high. EUR/USD (^EURUSD) is down -0.0079 (-0.71%) at a 1-week low. USD/JPY (^USDJPY) is up +0.11 (+0.09%). Thursday’s closes: Dollar Index -0.197 (-0.20%), EUR/USD +0.00312 (+0.28%), USD/JPY -0.116 (-0.09%). The dollar index on Thursday settled lower on (1) the weaker-than-expected U.S. Jun payroll and average hourly earnings reports, which may push back a Fed interest rate increase, and (2) strength in EUR/USD on short covering ahead of the July 5 Greek referendum.

Aug WTI crude oil (CLQ15 -2.32%) this morning is down sharply by -$ 2.66 (-4.67%) at a 2-1/2 month low. Aug gasoline (RBQ15 -1.57%) is down -0.0673 (-3.31%). Thursday’s closes: CLQ5 -0.03 (-0.05%), RBQ5 +0.0275 (+1.37%). Aug crude oil and gasoline on Thursday settled mixed. Crude oil received support from a weaker dollar and the close-to-expected increase in U.S. Jun payroll report, which signals moderate economic growth that is beneficial for energy demand. Crude oil prices were undercut by the afternoon report from Baker Hughes that U.S. active oil rigs rose by +12 rigs to 640 rigs, the first increase in nearly 7 months.

US0945 ETFinal-Jun Markit U.S. services PMI expected +0.1 to 54.9, prelim-Jun -1.4 to 54.8. Final-Jun Markit U.S. Composite PMI, prelim-Jun -1.4 to 54.6.
1000 ETJun ISM non-manufacturing index expected +0.7 to 56.4, May -2.1 to 55.7.
1000 ETJun Labor Market Conditions Index expected 2.0, May 1.3.
1100 ETUSDA weekly grain export inspections.
1600 ETUSDA weekly crop progress.
JPN0100 ETJapan May leading index CI expected -0.1 to 106.3, Apr 106.4. May coincident index expected -1.7 to 109.3, Apr 111.0.
GER0200 ETGerman May factory orders expected unch m/m and +4.4% y/y, Apr +1.4% m/m and +0.4% y/y.
0330 ETGerman Jun Markit construction PMI, May 50.8.
UK0400 ETUK Jun new car registrations, May +2.4% y/y.
EUR0430 ETEurozone Jul Sentix investor confidence expected -1.6 to 15.5, Jun 17.1.
CompanyTickerTimeEvent DescriptionPeriodEstimate
AetnaAET US8:30Acquisition of Humana Inc by Aetna Inc Call
HumanaHUM US8:30Acquisition of Humana Inc by Aetna Inc Call
A Schulman IncSHLM USAft-mktQ3 2015 Earnings ReleaseQ3 20150.77
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