Live Index – Thu, 31 Dec 2015 Premarket
March E-mini S&Ps (ESH16 -0.11%) are up +0.02% as higher crude oil prices give energy producer stocks a boost, while European stocks are down -0.30% as Chinese stocks settled lower. Thin, uninspired trade is the main theme on the last trading day of the year with Germany, Switzerland and Italy closed today, while the UK, France and the Netherlands close early. The Russian ruble fell to a 1-year low against the dollar as weaker-than-expected Dec consumer prices may allow Russia’s central bank to ease monetary policy. Asian stocks settled mixed: Japan and South Korea closed for holiday, Hong Kong +0.15%, China -0.94%, Taiwan +0.70%, Australia -0.45%, Singapore -0.10%, India +0.61%.
The dollar index (DXY00 +0.20%) is up +0.12%. EUR/USD (^EURUSD) is down -0.37%. USD/JPY (^USDJPY) is down -0.10%. The Chinese yuan weakened to 6.4939 per dollar, a 4-1/2 year low.
Mar T-note prices (ZNH16 +0.14%) are up +6.5 ticks.
Russian Dec CPI rose +12.9% y/y, weaker than expectations of +13.0% y/y and the slowest pace of increase in 13 months.
The Russia Dec Markit services PMI fell -2.0 to 47.8, weaker than expectations of -1.5 to 48.3.
Key U.S. news today includes: (1) weekly initial unemployment claims (expected +3,000 to 270,000, previous -5,000 to 267,000) and continuing claims (expected +1,000 to 2.196 million, previous -47,000 to 2.195 million), (2) Dec Milwaukee ISM (expected +3.16 to 48.50, Nov -1.32 to 45.34), and (3) Dec Chicago PMI (expected +1.3 to 50.0, Nov -7.5 to 48.7).
None of Russell 3000 companies report earnings today.
U.S. IPO’s scheduled to price today: none.
Equity conferences this week: none.
Fidelity National reported that it increased its stake in Del Frisco’s Restaurant Group (DFRG -0.68%) to 9.31% from 8.10%.
Chimerix (CMRX +13.30%) jumped nearly 5% in after-hours trading after Point72 Asset reported an initial 5.3% passive stake in the company.
Lockheed Martin (LMT -0.30%) was awarded a $ 1.06 billion definitization modification pact for 32 C-130J aircraft from the U.S. Department of Defense.
Spectra Energy Partners (SEP +3.69%) said it shut its 932-mile Platte pipeline that carries 145,000 bpd of crude oil to wood River, Il., from Guernsey, WY., due to flooding along the Mississippi River
Fairholme Capital Management reported a 26% stake in Sears Holdings (SHLD -3.29%) .
The Daily Mail reported that “corporate financiers” have been working over the holiday on a possible merger between Vodafone Group Plc (VOD -0.86%) and Liberty Global Plc (LBTYA +0.47%) in early 2016.
Scorpio Bulkers (SALT -2.78%) announced the sale of 5 vessels, 3 Capesize dry bulk vessels and 2 newbuilding Capesize dry bulk vessels, for $ 167 million.
Mar E-mini S&Ps (ESH16 -0.11%) this morning are little changed, up +0.50 of a point (+0.02%). Wednesday’s closes: S&P 500 -0.72%, Dow Jones -0.66%, Nasdaq -0.83%. The S&P 500 on Wednesday closed lower on weakness in energy producers after an unexpected increase in weekly EIA crude inventories fueled a sell-off in crude oil prices, and on the unexpected -0.9% m/m decline in U.S. Nov pending home sales, weaker than expectations of +0.7% m/m.
Mar 10-year T-notes (ZNH16 +0.14%) this morning are up +6. ticks. Wednesday’s closes: TYH6 -1.50, FVH6 +0.25. Mar T-notes on Wednesday fell to a 2-week low and closed lower on weak demand for the Treasury’s 7-year T-note auction that had a bid-to-cover ratio of 2.34 (below the 12-auction average of 2.46) and on an increase in inflation expectations after the 10-year T-note breakeven inflation rate climbed to a 3-week high.
The dollar index (DXY00 +0.20%) this morning is up +0.115 (+0.12%). EUR/USD (^EURUSD) is down -0.0040 (-0.37%). USD/JPY (^USDJPY) is down -0.12 (-0.10%). Wednesday’s closes: Dollar Index +0.165 (+0.17%), EUR/USD +0.0013 (+0.12%), USD/JPY +0.06 (+0.05%). The dollar index on Wednesday closed higher on weakness in the Chinese yuan which fell to a 4-1/2 year low against the dollar, and on weakness in the commodity currencies of Canada and Australia after the price of crude oil plummeted.
Feb crude oil (CLG16 -0.66%) this morning is up +4 cents (+0.11%) and Feb gasoline (RBG16 -0.23%) is up +0.0030 (+0.24%). Wednesday’s closes: CLG6 -1.27 (-3.35%), RBG6 -0.0284 (-2.21%). Feb crude oil and gasoline on Wednesday closed lower on a stronger dollar, the unexpected +2.63 million bbl increase in weekly EIA crude inventories (vs expectations of -2.5 million bbls), and the +892,000 bbl increase in crude stockpiles at Cushing, OK, the delivery point of WTI futures, to a record 63 million bbl.
|US||0830 ET||Weekly initial unemployment claims expected +3,000 to 270,000, previous -5,000 to 267,000. Weekly continuing claims expected +1,000 to 2.196 million, previous -47,000 to 2.195 million.|
|0830 ET||USDA weekly Export Sales.|
|0900 ET||Dec Milwaukee ISM expected +3.16 to 48.50, Nov -1.32 to 45.34.|
|0945 ET||Dec Chicago PMI expected +1.3 to 50.0, Nov -7.5 to 48.7.|
|CHI||2000 ET||China Dec manufacturing PMI expected +0.2 to 49.8, Nov -0.2 to 49.6. Dec non-manufacturing PMI, Nov +0.5 to 53.6.|
|JPN||n/a||Japanese markets closed for a Bank Holiday.|