Live Index – Thu, 06 Aug 2015 Premarket
September E-mini S&Ps (ESU15 +0.01%) are little changed, down -0.02%, and European stocks are down -0.09% led by weakness in energy producers after the price of crude oil (CLU15 -0.82%) fell to a 4-1/2 month low. Losses in European stocks were muted after German Jun factory orders rose more than expected. The BOE, as expected, maintained its benchmark interest rate at 0.50% and kept its asset purchase target unchanged at 375 billion pounds following today’s monetary policy meeting. Asian stocks closed mostly lower: Japan +0.24%, Hong Kong -0.57%, China -0.89%, Taiwan -1.09%, Australia -1/13%, Singapore +0.17%, South Korea -1.27%, India +0.27%. Japan’s Nikkei Stock Index bucked the trend and closed up at a 2-week high as exporter stocks rallied on the prospects of improved earnings after the yen tumbled to a 1-3/4 month low against the dollar on Wednesday.
The dollar index (DXY00 +0.06%) is down -0.06%. EUR/USD (^EURUSD) is up +0.06% on the stronger-than-expected German Jun factory orders. USD/JPY (^USDJPY) is down -0.03%. The Russian ruble slid to a 5-1/2 month low against the dollar after the price of crude fell to a 4-1/2 month low.
Sep T-note prices (ZNU15 +0.07%) are up +2 ticks.
German Jun factory orders jumped +2.0% m/m and +7.2% y/y, stronger than expectations of +0.3% m/m and +5.2% y/y with the +7.2% y/y gain the biggest annual increase in 13 months.
Key U.S. news today includes: (1) July Challenger job cuts (June +42.7% y/y), and (2) weekly initial unemployment claims (expected +5,000 to 272,000, previous +12,000 to 267,000) and continuing claims (expected -13,000 to 2.249 million, previous +46,000 to 2.262 million).
There are 14 of the S&P 500 companies that report earnings today with notable reports including: Viacom (consensus $ 1.47), Duke Energy (0.99), Apache Corp (-0.28), NVIDIA (0.21), Consolidated Edison (0.63), Monster Beverage (0.91).
U.S. IPO’s scheduled to price today include: First Foundation (FFWM).
Equity conferences during the remainder of this week include: none.
Teradata (TDC +0.78%) reported Q2 EPS of 43 cents, well below consensus of 56 cents.
Albemarle (ALB -0.69%) reported Q2 EPS of 84 cents, higher than consensus of 82 cents.
Transocean (RIG +0.98%) climbed over 7% in pre-market trading after it reported Q2 EPS $ 1.11, more than double consensus of 50 cents and reported Q2 revenue of $ 1.88 billion, better than consensus of $ 1.70 billion.
American Water (AWK +0.72%) reported Q2 EPS of 68 cents, better than consensus of 67 cents.
Tesoro (TSO +1.34%) reported Q2 adjusted EPS of $ 4.62, well above consensus of $ 4.02.
Dun & Bradstreet (DNB +0.66%) reported Q2 EPS of $ 1.25, less than consensus of $ 1.31.
Tesla (TSLA +1.45%) reported a Q2 EPS loss of -48 cents, a narrower loss than consensus of -60 cents.
Andersons (ANDE +0.61%) reported Q2 EPS of $ 1.09, above consensus of 99 cents, although Q2 revenue of $ 1.21 billion was below consensus of $ 1.26 billion.
Masonite (DOOR -1.46%) reported Q2 EPS of 42 cents, below consensus of 50 cents.
Prudential (PRU +0.02%) reported Q2 adjusted EPS of $ 2.91, above consensus of $ 2.47.
Herbalife (HLF -2.39%) jumped 8% in after-hours trading after it reported Q2 EPS of $ 1.24, higher than consensus of $ 1.11.
Fitbit reported Q2 EPS of 21 cents, more than double consensus of 8 cents.
21st Century Fox (FOXA -7.02%) reported Q4 adjusted EPS of 39 cents, above consensus of 37 cents.
CBS (CBS -4.62%) reported Q2 adjusted EPS of 74 cents, higher than consensus of 72 cents.
Keurig Green Mountain (GMCR -2.10%) plunged 30% in after-hours trading after it reported Q3 adjusted EPS of 80 cents, better than consensus of 79 cents, but then lowered guidance on Q4 adjusted EPS to 70 cents-75 cents, well below consensus of 97 cents.
Sep E-mini S&Ps (ESU15 +0.01%) this morning are down -0.50 of a point (-0.02%). Wednesday’s closes: S&P 500 +0.31%, Dow Jones -0.06%, Nasdaq +0.76%. The S&P 500 on Wednesday closed higher on the +4.3 point increase in the Jul ISM non-manufacturing PMI to a 10-year high of 60.3, and mostly positive company Q2 earnings results with 75% of reporting S&P 500 companies having beaten earnings estimates. The main bearish factor was the weak July ADP employment report of +185,000, less than expectations of +215,000.
Sep 10-year T-note prices (ZNU15 +0.07%) this morning are up +2 ticks. Wednesday’s closes: TYU5 -16.5, FVU5 -7.75. Sep T-notes on Wednesday closed lower on the larger-than-expected increase in the U.S. July non-manufacturing ISM to a 10-year high and negative carry-over from comments made Tuesday by Atlanta Fed President Lockhart who said September may be the appropriate time for the Fed to begin raising interest rates.
The dollar index (DXY00 +0.06%) this morning is down -0.054 (-0.06%). EUR/USD (^EURUSD) is up +0.0006 (+0.06%). USD/JPY (^USDJPY) is down -0.04 (-0.03%). Wednesday’s closes: Dollar Index +0.027 (+0.03%), EUR/USD +0.00244 (+0.22%), USD/JPY +0.48 (+0.39%). The dollar index on Wednesday rose to a 3-1/4 month high and closed higher on the stronger-than-expected increase in the Jul ISM non-manufacturing index to a 10-year high and weakness in the yen as USD/JPY climbed to a 1-3/4 month high as a rally in stocks reduced the safe haven demand for the yen.
Sep crude oil (CLU15 -0.82%) this morning is down -50 cents (-1.11%) at a fresh 4-1/2 month low and Sep gasoline (RBU15 -0.40%) is down -0.0100 (-0.60%). Wednesday’s closes: CLU5 -0.59 (-1.29%), RBU5 -0.0119 (-0.71%). Sep crude and gasoline on Wednesday closed lower with Sep crude at a 4-3/4 month low and Sep gasoline at a 5-1/4 month low. Negative factors included (1) the rally in the dollar index to a 3-1/4 month high, (2) the unexpected +811,000 bbl increase in weekly EIA gasoline inventories (vs expectations of -200,000 bbl), and (3) the +709,000 bbl increase in EIA distillate inventories to a 3-1/2 year high. Crude oil found underlying support on the news that EIA crude stockpiles fell -4.41 million bbl to a 4-3/4 month low vs expectations of -1.6 million bbl.
|US||0730 ET||Jul Challenger job cuts, Jun +42.7% y/y.|
|0830 ET||Weekly initial unemployment claims expected +5,000 to 272,000, previous +12,000 to 267,000. Weekly continuing claims expected -13,000 to 2.249 million, previous +46,000 to 2.262 million.|
|0830 ET||USDA weekly Export Sales.|
|JPN||0100 ET||Japan Jun leading index CI expected +0.7 to 106.9, May 106.2. Jun coincident index expected +1.2 to 110.2, May 109.0.|
|GER||0200 ET||German Jun factory orders expected +0.3% m/m and +5.2% y/y, May -0.2% m/m and +4.7% y/y.|
|0330 ET||German Jul Markit construction PMI, Jun 50.7.|
|UK||0400 ET||UK Jul new car registrations, Jun +12.9% y/y.|
|0430 ET||UK Jun industrial production expected +0.1% m/m and +2.2% y/y, May +0.4% m/m and +2.1% y/y.|
|0430 ET||UK Jun manufacturing production expected +0.1% m/m and +0.4% y/y, May -0.6% m/m and +1.0% y/y.|
|0700 ET||BOE announces interest rate decision and asset purchase target expected no change to the 0.50% benchmark rate or to the 375 billion pound asset purchase target.|
|1000 ET||UK Jul NIESR GDP estimate, Jun +0.7% q/q.|
|Becton Dickinson and Co||BDX US||Bef-mkt||Q3 2015 Earnings Release||Q3 2015||2.003|
|Mylan NV||MYL US||Bef-mkt||Q2 2015 Earnings Release||Q2 2015||0.89|
|Molson Coors Brewing Co||TAP US||Bef-mkt||Q2 2015 Earnings Release||Q2 2015||1.323|
|Allergan plc||AGN US||Bef-mkt||Q2 2015 Earnings Release||Q2 2015||4.393|
|Teradata Corp||TDC US||Bef-mkt||Q2 2015 Earnings Release||Q2 2015||0.557|
|Viacom Inc||VIAB US||Bef-mkt||Q3 2015 Earnings Release||Q3 2015||1.47|
|Michael Kors Holdings Ltd||KORS US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||0.729|
|Duke Energy Corp||DUK US||7:00||Q2 2015 Earnings Release||Q2 2015||0.992|
|L Brands Inc||LB US||7:30||July 2015 Sales and Revenue Call||2015|
|Apache Corp||APA US||8:00||Q2 2015 Earnings Release||Q2 2015||-0.276|
|Becton Dickinson and Co||BDX US||8:00||Q3 2015 Earnings Call||Q3 2015|
|Dun & Bradstreet Corp/The||DNB US||8:00||Q2 2015 Earnings Call||Q2 2015|
|Michael Kors Holdings Ltd||KORS US||8:00||Q1 2016 Earnings Call||Q1 2016|
|Tesoro Corp||TSO US||8:30||Q2 2015 Earnings Call||Q2 2015|
|Allergan plc||AGN US||8:30||Q2 2015 Earnings Call||Q2 2015|
|Teradata Corp||TDC US||8:30||Q2 2015 Earnings Call||Q2 2015|
|CF Industries Holdings Inc||CF US||8:30||Q2 2015 Earnings Call||Q2 2015|
|Viacom Inc||VIAB US||8:30||Q3 2015 Earnings Call||Q3 2015|
|FMC Corp||FMC US||9:00||Q2 2015 Earnings Call||Q2 2015|
|Harman International Industries Inc||HAR US||9:00||Investor Day||Y 2015|
|Progressive Corp/The||PGR US||9:00||Investor Relations Conference Call|
|Marathon Oil Corp||MRO US||9:00||Q2 2015 Earnings Call||Q2 2015|
|Red Hat Inc||RHT US||9:00||Annual General Meeting|
|Transocean Ltd||RIG US||9:30||Q2 2015 Earnings Call||Q2 2015|
|Duke Energy Corp||DUK US||10:00||Q2 2015 Earnings Call||Q2 2015|
|Mylan NV||MYL US||10:00||Q2 2015 Earnings Call||Q2 2015|
|Molson Coors Brewing Co||TAP US||11:00||Q2 2015 Earnings Call||Q2 2015|
|Prudential Financial Inc||PRU US||11:00||Q2 2015 Earnings Call||Q2 2015|
|Molson Coors Brewing Co||TAP US||13:00||Q2 2015 Earnings Call – Follow-up Session||C2 2015|
|Apache Corp||APA US||14:00||Q2 2015 Earnings Call||Q2 2015|
|NVIDIA Corp||NVDA US||16:20||Q2 2016 Earnings Release||Q2 2016||0.208|
|NVIDIA Corp||NVDA US||17:00||Q2 2016 Earnings Call||Q2 2016|
|Monster Beverage Corp||MNST US||17:00||Q2 2015 Earnings Call||Q2 2015|
|Consolidated Edison Inc||ED US||Aft-mkt||Q2 2015 Earnings Release||Q2 2015||0.634|
|EOG Resources Inc||EOG US||Aft-mkt||Q2 2015 Earnings Release||Q2 2015||0.101|
|Mohawk Industries Inc||MHK US||Aft-mkt||Q2 2015 Earnings Release||Q2 2015||2.617|
|Monster Beverage Corp||MNST US||Aft-mkt||Q2 2015 Earnings Release||Q2 2015||0.911|
|L Brands Inc||LB US||July 2015 Sales and Revenue Release||2015|
|United Parcel Service Inc||UPS US||Roadshow – Boston||Y 2015|
|Principal Financial Group Inc||PFG US||Roadshow – Tokyo – Day 1||Y 2015|
|Ralph Lauren Corp||RL US||Annual General Meeting|
|Red Hat Inc||RHT US||Annual General Meeting|
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