Live Index – Fri, 29 Apr 2016 Premarket

Jun E-mini S&Ps (ESM16 -0.14%) are down -0.10% on negative carryover from yesterday’s drop to a 1-1/2 week low. Losses in stocks were contained as -0.40% fall in the dollar index to an 8-month low boosts commodity prices and gives raw-material and mining stocks a lift. May silver (SIK16 +1.72%) is up +1.61% at a 1-1/4 year high, and Jun crude oil (CLM16 +0.93%) is up +0.98% at a 5-3/4 month high. European stocks are down -1.79% as travel and leisure stocks slide, led by a nearly 3% drop in British Airways parent IAG SA after it said the Brussels terror attacks will undercut Q2 revenue. European bank stocks are also weaker, led by a nearly 2% fall in Royal Bank of Scotland Group Plc after it reported a -968-million-pound loss for Q1, wider than expectations of a -957 million-pound loss. Asian stocks settled mostly lower: Japan closed for holiday, Hong Kong -1.50%, China -0.25%, Taiwan -1.13%, Australia +0.51%, Singapore -0.83%, South Korea -0.43%, India +0.01%.

The dollar index (DXY00 -0.42%) is down -0.40% at an 8-month low. EUR/USD (^EURUSD) is up +0.37% at a 2-week high. USD/JPY (^USDJPY) is down -1.00% at a 1-1/2 year low.

Jun T-note prices (ZNM16 -0.02%) are down -2.5 ticks.

The Eurozone Apr CPI estimate fell -0.2% y/y, weaker than expectations of -0.1% y/y. The Apr core CPI rose +0.8% y/y, weaker than expectations of +0.9% y/y.

Eurozone Q1 GDP rose +0.6% q/q and +1.6% y/y, stronger than expectations of +0.4% q/q and +1.4% y/y.

German Mar retail sales unexpectedly fell -1.1% m/m, weaker than expectations of +0.4% m/m and the biggest decline in 1-1/2 years.

Key U.S. news today includes: (1) Dallas Fed President Robert Kaplan’s speech to the Official Monetary and Financial Institutions Forum in London, (2) Mar personal spending (expected +0.2%, Feb +0.1%) and Mar personal income (expected +0.3%, Feb +0.2%), (3) Mar PCE deflator (expected +0.1% m/m and +0.8% y/y, Feb -0.1% m/m and +1.0% y/y) and Mar core PCE deflator (expected +0.1% m/m and +1.5% y/y, Feb +0.1% m/m and +1.7% y/y), (4) Q1 employment cost index (expected +0.6%, Q4 +0.6%), (5) Apr Milwaukee ISM (Mar +2.57 to 57.78), (6) Apr Chicago PMI (expected -0.8 to 52.8, Mar +6.0 to 53.6), f7) Final-April University of Michigan U.S. consumer sentiment index (expected +0.3 to 90.0, preliminary-April -1.3 to 89.7), (8) U.S. retail sales benchmark revisions.

There are 22 of the S&P 500 companies that report earnings today with notable reports including: Exxon (consensus $ 0.29), Chevron (-0.18), Moody’s (1.06), Phillips 66 (0.88).

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

Equity conferences this week include: none.

Gilead (GILD -3.69%) dropped over 4% in pre-market trading after it reported Q1 adjusted EPS of $ 3.03, below consensus of $ 3.15, as sales of Harvoni were only $ 3.02 billion, below estimates of $ 3.17 billion.

Amazon.com (AMZN -0.75%) rallied 13% in pre-market trading after it reported Q1 revenue of $ 29.1 billion, higher than consensus of $ 27.97 billion, and said it sees Q2 revenue of $ 28 billion-$ 30.5 billion, above consensus of $ 28.3 billion.

Expedia (EXPE -0.72%) rallied over 10% in after-hours trading after it reported an unexpected Q1 adjusted EPS profit of 6 cents, better than consensus of a 6 cent loss.

LinkedIn (LNKD +3.50%) gained almost 7% in after-hours trading after it reported Q1 adjusted EPS of 74 cents, well above consensus of 60 cents.

Skyworks Solutions (SWKS -0.75%) slipped over 3% in after-hours trading after it reported Q2 adjusted EPS of $ 1.25, below consensus of $ 1.32, and said it sees Q3 adjusted EPS of $ 1.21, weaker than consensus of $ 1.32.

Outerwall (OUTR -5.02%) jumped over 8% in after-hours trading after it reported Q1 core EPS from continuing operations of $ 2.44, well above consensus of $ 1.33.

Pandora Media (P -0.11%) rose over 6% in after-hours trading after it reported a Q1 adjusted EPS loss of 20 cents, narrower than consensus of 32 cents

Molina Healthcare (MOH -1.53%) slumped over 11% in after-hours trading after it reported Q1 adjusted EPS of 51 cents, well below consensus of 81 cents, and then lowered guidance on 2016 adjusted EPS to $ 2.50-$ 2.95 from a previous forecast of $ 3.86.

B&G Foods (BGS -0.45%) rose 6% in after-hours trading after it reported Q1 adjusted EPS of 65 cents, higher than consensus of 51 cents, and then raised guidance on 2016 adjusted EPS to $ 2.05-$ 2.15 from a March 15 forecast of $ 1.90-$ 2.00.

Synaptics (SYNA -5.62%) tumbled over 12% in after-hours trading after it reported Q3 adjusted EPS of $ 1.21, well below consensus of $ 1.51, and said it sees Q4 revenue of $ 300 million-$ 340 million, well below consensus of $ 478.9 million.

Regal Entertainment Group (RGC +1.12%) gained nearly 4% in after-hours trading after it reported Q1 adjusted EPS of 27 cents, better than consensus of 25 cents.

Qlik Technologies (QLIK +3.25%) rose over 3% in after-hours trading after it raised guidance on fiscal year adjusted EPS to 42 cents-45 cents from a February 11 estimate of 41 cents-44 cents.

NeoPhotonics (NPTN -3.75%) sank over 12% in after-hours trading after it reported Q1 adjusted EPS of 15 cents, higher than consensus of 14 cents, but said it sees Q2 adjusted EPS of 8 cents-15 cents, weaker than consensus of 17 cents.

Gigamon (GIMO -3.52%) jumped over 10% in after-hours trading after it reported Q1 adjusted EPS of 22 cents, higher than consensus of 18 cents.

NeuStar (NSR -1.67%) slumped over 10% in after-hours trading after it said it sees fiscal year revenue of $ 1.22 billion-$ 1.24 billion, below the midpoint estimate of $ 1.24 billion.

June E-mini S&Ps (ESM16 -0.14%) this morning are down -2.00 points (-0.10%). Thursday’s closes: S&P 500 -0.92%, Dow Jones -1.17%, Nasdaq -1.19%. The S&P 500 on Thursday closed lower on disappointment that the BOJ did not expand its easing measures after its policy meeting and on the +0.5% increase in U.S. Q1 GDP (q/q annualized), weaker than expectations of +0.7%. The stock market was also dragged lower by a -3% drop in Apple after billionaire investor Carl Icahn said he sold his stake in the company. Stocks received an early boost from M&A activity after Abbott Labs agreed to buy St. Jude Medical for $ 25 billion and Comcast agreed to buy Dreamworks SKG for $ 3.8 billion.

June 10-year T-note prices (ZNM16 -0.02%) this morning are down -2.5 ticks. Thursday’s closes: TYM6 +5.50, FVM6 +6.00. Jun T-notes on Thursday climbed to a 1-week high and settled higher on increased safe-haven demand for T-notes on weak stocks and on the weaker-than-expected U.S. Q1 GDP report of +0.5%. T-notes were undercut by the rise in the U.S. Q1 core PCE to +2.1%, above the Fed’s 2.0% target and the fastest pace of increase in 4 years.

The dollar index (DXY00 -0.42%) this morning is down -0.373 (-0.40%) at an 8-month low. EUR/USD (^EURUSD) is up +0.0042 (+0.37%) at a 2-week high. USD/JPY (^USDJPY) is down -1.08 (-1.00%) at a 1-1/2 year low. Thursday’s closes: Dollar Index -0.626 (-0.66%), EUR/USD +0.0030 (+0.26%), USD/JPY -3.35 (-3.01%). The dollar index on Thursday fell to a 2-week low and closed lower on the plunge in USD/JPY to a 1-week low after the BOJ refrained from expanding stimulus measures and on the weaker-than-expected U.S. Q1 GDP report of +0.5%, which bolsters the case for the Fed to continue to delay another interest rate increase.

June WTI crude oil (CLM16 +0.93%) this morning is up +45 cents (+0.98%) at a 5-3/4 month high. June gasoline (RBM16 -0.06%) is down -0.0020 (-0.12%). Thursday’s closes: CLM6 +1.29 (+2.93%), RBM6 +0.0193 (+1.97%). Jun crude and gasoline on Thursday closed higher with Jun crude at a 5-3/4 month high and Jun gasoline at 4-3/4 month high. Crude oil received a boost from the fall in the dollar index to a 2-week low and from positive carryover from Wednesday’s EIA data showing a -0.2% fall in U.S. crude production to a 1-1/2 year low.