Fri Sep 18 2015
Live Index (1451 articles)

Live Index – Fri, 18 Sep 2015 Premarket


December E-mini S&Ps (ESZ15 -0.89%) are down -0.71% and European stocks are down -2.39% on concern over global growth after the Fed refrained from raising interest rates Thursday due to “recent global economic and financial developments that may restrain economic activity.” Global government bonds rose as the 10-year T-note yield fell to a 2-week low, while Dec gold (GCZ15 +1.60%) climbed +1.77% to a 2-week high. Emerging markets rallied on the prospects that interest rates stay lower for longer while Asian stocks closed mixed: Japan -1.96%, Hong Kong +0.30%, China +0.38%, Taiwan +0.20%, Australia +0.46%, Singapore -0.56%, South Korea +0.76%, India +0.98%. China’s Shanghai Composite closed higher as property stocks rose after data showed China Aug home prices rose in more cities than the prior month.

The dollar index (DXY00 -0.31%) is down -0.32% at a 3-week low. EUR/USD (^EURUSD) is down -0.08% as it fell back from a 3-week high after dovish comments from ECB Executive Board member Coeure undercut the euro. USD/JPY (^USDJPY) is down -0.69% at a 1-week low as the slide in stocks boosts the safe-haven demand for the yen.

Dec T-note prices (ZNZ15 +0.41%) are up +18.5 ticks at a 2-week high.

ECB Executive Board member Coeure said that the euro has appreciated fairly significantly in recent weeks and that the outlook for global growth has clearly weakened. Coeure also said that risks to Eurozone economic growth are on the downside and the ECB is ready to extend QE beyond Sep 2016 if needed.

China Aug new home prices rose in 35 out of the 70 cities tracked by the government, more than 31 cities in July. Home prices in Aug dropped in 25 cities, fewer than 29 cities in July.


Key U.S. news today includes: (1) Aug leading indicators (expected +0.2%, Jul -0.2%), (2) Q2 household net worth change (Q1 +$ 1.629 trillion), and (3) the Treasury’s auction of $ 13 billion of 10-year TIPS.

There is 1 company in the Russell 1000 index that reports earnings today: Zayo Group (consensus $ 0.05).

U.S. IPO’s scheduled to price today include: Parsley Energy (PE).

Equity conferences during the remainder of this week include: Barclays Capital Global Financial Services Conference on Wed-Fri, Credit Suisse Basic Materials Conference on Wed-Fri, Goldman Sachs Communacopia Conference on Wed-Fri, Morgan Stanley Global Healthcare Conference on Wed-Fri, and AACR CRI-CIMT-EATI Immunotherapy Conference on Thu-Fri.





iRobot (IRBT +3.53%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Raymond James.

Helmerich & Payne (HP -0.49%) was downgraded to ‘Sector Perform’ from ‘Outperform’ at RBC Capital.

Aetna (AET +0.15%) was upgraded to ‘Buy’ from ‘Hold’ at Cantor.

Valspar (VAL -0.09%) was upgraded to ‘Overweight’ from ‘Neutral’ at JPMorgan Chase.

Jefferies keeps a ‘Buy’ rating on Eli Lilly (LLY +6.55%) and raises its price target on the stock to $ 115 from $ 105.

Clarcor (CLC -13.03%) and Wolverine World Wide (WWW -9.18%) were both downgraded to ‘Neutral’ from ‘Outperform’ at Baird.

Cognex (CGNX -0.13%) was initiated with a ‘Buy’ at Nomura with a price target of $ 52.

Canton Holdings reported an 11.2% stake in Lumos Networks (LMOS -1.06%) .

AK Steel (AKS -0.35%) jumped over 8% in after-hours trading after it raised guidance on Q3 EPS to a loss of between -7 cents and -2 cents, better than consensus of a loss of -23 cents.

Texas Instruments (TXN -1.13%) rose almost 1% in pre-market trading after it raised its quarterly dividend to 38 cents per share from 34 cents, and increaased its share repurchase program by $ 7.5 billion.

Adobe (ADBE -0.27%) fell almost 3% in after-hours trading after it reported Q3 EPS of 54 cents, higher than consensus of 50 cents, but then said it sees sees Q4 EPS of 56 cents-62 cents, below consensus of 64 cents.


Dec E-mini S&Ps (ESZ15 -0.89%) this morning are down -14.00 points (-0.71%). Thursday’s closes: S&P 500 -0.26%, Dow Jones -0.39%, Nasdaq +0.03%. The S&P 500 on Thursday retreated from a 4-week high and closed lower. Stocks were boosted by the Fed’s decision to leave rates unchanged but closed lower on (1) negative carryover from the -2.1% drop in the Shanghai Composite, (2) the -14.3 point decline in the Sep Philadelphia Fed business outlook survey to a 2-1/2 year low of -6.0, and (3) concern about the global economy after the Fed felt it could not raise interest rates.

Dec 10-year T-notes (ZNZ15 +0.41%) this morning are up +18.5 ticks at a 2-week high. Thursday’s closes: TYZ5 +25.00, FVZ5 +19.50. Dec T-notes on Thursday closed higher on the Fed’s decision not to raise interest rates, Fed Chair Yellen’s comment that we are “way below” our inflation target, and the larger-than-expected decline in the Sep Philadelphia Fed business outlook survey to a 2-1/2 year low.

The dollar index (DXY00 -0.31%) this morning is down -0.302 (-0.32%) at a 3-week low. EUR/USD (^EURUSD) is down -0.0009 (-0.08%). USD/JPY (^USDJPY) is down -0.83 (-0.69%) at a 1-week low. Thursday’s closes: Dollar Index -0.936 (-0.98%), EUR/USD +0.0145 (+1.28%), USD/JPY -0.56 (-0.46%). The dollar index on Thursday fell to a 3-week low and closed lower on the Fed’s decision not to raise interest rates and on U.S. economic concerns after the Sep Philadelphia Fed business outlook index fell to a 2-1/2 year low.

Oct crude oil (CLV15 -1.36%) this morning is down -50 cents (-1.07%) and Oct gasoline (RBV15 +0.33%) is up +0.0094 (+0.68%). Thursday’s closes: CLV5 -0.25 (-0.53%), RBV5 +0.0026 (+0.19%). Oct crude oil and gasoline prices on Thursday settled mixed. Crude oil prices were undercut by the larger-than-expected decline in the Sep Philadelphia Fed business outlook index to a 2-1/2 year low and by the ongoing crude oil supply glut with U.S. crude inventories nearly 100 million bbl above the 5-year seasonal average. Energy prices received a boost from the weaker dollar.

US1000 ETAug leading indicators expected +0.2%, Jul -0.2%.
1200 ETQ2 household net worth change, Q1 +$ 1.629 trillion.
1300 ETTreasury auctions $ 13 billion 10-year TIPS.
1500 ETUSDA Aug Cattle on Feed.
JPN0130 ETJapan Aug nationwide department store sales, Jul +3.4% y/y.
EUR0400 ETEurozone Jul current account balance, Jul +31.1 billion euros (nsa).
CompanyTickerTimeEvent DescriptionPeriodEstimate
Zayo Group Holdings IncZAYO USBef-mktQ4 2015 Earnings ReleaseQ4 20150.048
Seadrill LtdSDRL NO8:00Annual General MeetingY 2015
Multiple CompaniesNRG US9:00Business Update Call
Zayo Group Holdings IncZAYO US11:00Q4 2015 Earnings CallQ4 2015
HCC Insurance Holdings IncHCC USSpecial Meeting – M&A Vote
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