Tue Jan 05 2016
Live Index (1454 articles)

Live Index – Tue, 05 Jan 2016 Premarket


March E-mini S&Ps (ESH16 -0.61%) are down -0.66% and European stocks are down -0.57% at a 3-month low as China’s Shanghai Composite extended Monday’s sell-off and fell to a new 2-1/2 month low. Deflation concerns also hurt European equities and knocked EUR/USD down to a 1-month low after Eurozone Dec CPI rose less than expected. Asian stocks settled mostly lower: Japan -0.42%, Hong Kong -0.65%, China -0.26%, Taiwan -0.48%, Australia -1.63%, Singapore -0.06%, South Korea +0.64%, India -0.17%. China’s Shanghai Composite recovered from its worst levels in late trading after China moved to support the market with state-controlled funds buying equities and after people familiar with the matter said that regulators will extend the selling ban by major investors beyond Friday’s expiration date.

The dollar index (DXY00 +0.41%) is up +0.41% at a 2-week high. EUR/USD (^EURUSD) is down -0.64% at a 1-month low after weaker-than-expected Eurozone Dec consumer price data fueled speculation the ECB may need to expand QE. USD/JPY (^USDJPY) is down -0.39%.

Mar T-note prices (ZNH16 +0.14%) are up +6 ticks.

The Eurozone Dec CPI estimate rose +0.2% y/y, less than expectations of +0.3% y/y. The Dec core CPI rose +0.9% y/y, less than expectations of +1.0% y/y.


Key U.S. news today includes: (1) (1) Dec New York ISM (Nov -5.1 to 60.7), and (2) Dec total vehicle sales (expected 18.00 million, Nov 18.05 million) and Dec domestic vehicle sales (expected 14.20 million, Nov 13.99 million).

None of Russell 3000 companies report earnings today.

U.S. IPO’s scheduled to price today: none.

Equity conferences this week: J.P. Morgan Tech Forum on Tue, Goldman Sachs Health Care CEO Unscripted Conference on Tue, Goldman Sachs Global Energy Conference on Wed, and Citi Global Internet, Media & Telecommunications Conference on Wed-Thu.









Nordstrom (JWN +0.64%) was downgraded to ‘Neutral’ from ‘Buy’ at Citigroup.

Eli Lilly (LLY -1.65%) may move lower at the start of trading today after it lowered guidance on fiscal 2016 EPS to $ 3.45-$ 3.55, below consensus of $ 3.65.

JC Penney (JCP +4.65%) was upgraded to ‘Neutral’ from ‘Sell’ at Citigroup.

First Solar (FSLR +1.11%) rose over 2% in pre-market trading after it was upgraded to ‘Buy’ from ‘Neutral at Goldman Sachs.

SolarEdge Technologies (SEDG -0.60%) rose nearly 2 % in pre-market trading after the stock was added to the ‘Conviction Buy’ list at Goldman Sachs.

Fresh Del Monte Produce (FDP -1.93%) was rated a new ‘Buy’ at Wunderlich Securities with a 12-month price target of $ 45.

DDR Corp. (DDR -1.72%) lowered guidance on its 2016 operating FFO to $ 1.19-$ 1.25 a share from a previous FFO estimate of $ 1.26.

Intercontinental Excahnge (ICE -1.90%) was reinstated a ‘Buy’ and added to the ‘Conviction Buy’ list at Goldman Sachs with a price target of $ 310.

General Electric reported a 33% stake in NeoGenomics (NEO -3.94%) .

Smith & Wesson (SWHC +5.91%) rose over 4% in after-hours trading after it raised guidance on Q3 adjusted EPS to 39 cents-41 cents, higher than consensus of 29 cents, and then raised guidance on fiscal 2016 adjusted EPS to $ 1.36-$ 1.41 from a prior estimate of $ 1.26-$ 1.31.

Gilead (GILD -3.14%) climbed +0.4% in after-hours trading after its fixed-dose combination of Sovaldi and velpatasvir was granted priority review by the U.S. FDA for the treatment of Hepatitis C.

Acceleron (XLRN -8.00%) fell over 2% in after-hours trading after the company proposed a $ 150 million offering of common stock.

Progressive Waste Solutions (BIN -1.44%) jumped 6% in after-hours trading after it said it was exploring the prospects of a potential sale of the company.

Exelixis (EXEL -2.66%) climbed over 8% in after-hours trading after a Phase 3 study showed its Cabozantinib drug shrank kidney cancer tumors in 75% of patients tested.


Mar E-mini S&Ps (ESH16 -0.61%) this morning are down -13.25 points (-0.66%). Monday’s closes: S&P 500 -1.53%, Dow Jones -1.58%, Nasdaq -2.08%. The S&P 500 on Monday slumped to a 2-3/4 month low and closed sharply lower on negative carryover from a -6.86% plunge in China’s Shanghai Composite tied to the China Dec manufacturing PMI report of +0.1 to 49.7, weaker than expectations of +0.2 to 49.8, and the unexpected -0.4 point drop in the Dec ISM U.S. manufacturing index to a 6-1/2 year low of 48.2, weaker than expectations of +0.4 to 49.0. Stocks were also undercut by the unexpected -0.4% decline in U.S. Nov construction spending, weaker than expectations of +0.6% and the biggest decline in 17 months.

Mar 10-year T-notes (ZNH16 +0.14%) this morning are up +6 ticks. Monday’s closes: TYH6 +8.00, FVH6 +4.75. Mar T-notes on Monday rose to a 1-1/2 week high and closed higher on the plunge in global stocks, which boosted the safe-haven demand for T-notes. T-notes were also boosted by U.S. growth concerns after the Dec ISM U.S. manufacturing index fell to a 6-1/2 year low.

The dollar index (DXY00 +0.41%) this morning is up +0.409 (+0.41%) at a 2-week high. EUR/USD (^EURUSD) is down -0.0069 (-0.64%) to a 1-month low. USD/JPY (^USDJPY) is down -0.46 (-0.39%). Monday’s closes: Dollar Index +0.186 (+0.19%), EUR/USD -0.0025 (-0.23%), USD/JPY -1.11 (-0.92%). The dollar index on Monday climbed to a 2-week high and settled higher on the plunge in EUR/USD to a 1-month low after German Dec CPI rose less than expected, which may prompt the ECB to boost stimulus measures. In addition, there was weakness in the Chinese yuan which tumbled to a 4-1/2 year low against the dollar on speculation that economic weakness in China may push the PBOC into expand its stimulus measures.

Feb crude oil (CLG16 -0.57%) this morning is unchanged and Feb gasoline (RBG16 +0.41%) is up +0.0132 (+1.02%). Monday’s closes: CLG6 -0.16 (-0.43%), RBG6 +0.0185 (+1.46%). Feb crude oil and gasoline on Monday both posted 2-week highs but settled mixed. Feb crude fell back from a 2-week high on a rally in the dollar index to a 2-week high and on global energy demand concerns after the China Dec manufacturing PMI contracted for a fifth month and the Dec ISM U.S. manufacturing index contracted by the most in 6-1/2 years. Crude oil prices found support on geopolitical concerns after Saudi Arabia cut diplomatic ties with Iran when demonstrators in Tehran attacked the Saudi embassy, and on increased refinery demand for gasoline after the crack spread climbed to a 1-1/2 week high.

US0945 ETDec New York ISM, Nov -5.1 to 60.7.
n/aDec total vehicle sales expected 18.00 million, Nov 18.05 million. Dec domestic vehicle sales expected 14.20 million, Nov 13.99 million.
JPN0000 ETJapan Dec vehicle sales, Nov +0.3% y/y.
GER0355 ETGerman Dec unemployment change expected -8,000, Nov -13,000. Dec unemployment rate expected unch at 6.3%.
UK0430 ETUK Dec Markit/CIPS construction PMI expected +0.7 to 56.0, Nov 55.3.
EUR0500 ETEurozone Dec CPI estimate expected +0.4% y/y, Nov +0.2% y/y. Dec core CPI expected +1.0% y/y, Nov +0.9% y/y.
CHI2045 ETChina Dec Westpac-MNI consumer sentiment, Nov 113.1.
CompanyTickerTimeEvent DescriptionPeriodEstimate
Eli Lilly & CoLLY US9:00Q4 2016 Guidance CallQ4 2016
Ford Motor CoF US9:15December 2015 Sales and Revenue Release2015
Ford Motor CoF US10:00December 2015 Sales and Revenue Call2015
Delta Air Lines IncDAL USDecember 2015 Sales and Revenue Release – Traffic Results2015
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