Live Index – Wed, 19 Feb 2014 Premarket

March E-mini S&Ps (ESH14 -0.34%) this morning are down -0.34% and European stocks are down -0.55% as emerging-market currencies dropped after anti-government protests escalated in Ukraine and Thailand. Asian stocks closed mixed: Japan -0.52%, Hong Kong +0.34%, China +1.15%, Taiwan +0.24%, Australia +0.29%, Singapore +0.59%, South Korea -0.29%, India +0.43%. China’s Shanghai Stock Index erased early losses and rallied up to a 2-month high and closed higher after Chinese money-market rates dropped to a 9-month low. Commodity prices are mixed. Mar crude oil (CLH14 +0.68%) is up +0.45%. Mar gasoline (RBH14 -0.08%) is down -0.20%. Apr gold (GCJ14 -0.54%) is down -0.39%. March copper (HGH14 +0.03%) is down -0.12%. Agriculture and livestock prices are mixed. The dollar index (DXY00 +0.03%) is up +0.01%. EUR/USD (^EURUSD) is down -0.09%. USD/JPY (^USDJPY) is down -0.38%. March T-note prices (ZNH14 +0.17%) are up +9 ticks at a 1-week high.

UK Jan jobless claims fell -27,600, a bigger decline than expectations of -20,000. The Jan claimant count rate fell -0.1 to 3.6%, right on expectations and the lowest in 5 years.

The UK Dec ILO unemployment rate unexpectedly rose +0.1 to 7.2% in the three months through Dec, higher than expectations of unch at 7.1%.

Eurozone Dec construction output rose +0.9% m/m and fell -0.2% y/y, while Nov was revised upward to -0.2% m/m and -1.6% y/y from the originally reported -0.6% m/m and -1.7% y/y.

Japan Jan nationwide department store sales rose +2.9% y/y, the most in 7-months.

The Japan Dec leading index CI was revised down ward to 111.7 from the originally reported 112.1, still the highest level in 6-1/2 years.

The Japan Dec all industry activity index unexpectedly fell -0.1% m/m, weaker than expectations of +0.1% m/m.

Today’s Jan housing starts report is expected to show a -4.9% decline to 950,000, adding to the -9.8% decline to 999,000 seen in December. Meanwhile, Jan building permits are expected to fall by -1.6% to 975,000, adding to December’s decline of -2.6% to 991,000. Today’s Jan PPI report is expected to strengthen slightly to +1.2% y/y from +1.1% in December. The Jan core PPI is expected to jump to +1.4% y/y from +1.1% in December.

There are 8 of the S&P 500 companies that report earnings today: Devon Energy (consensus $ 1.08), Host Hotels (0.31), Garmin (0.62), Health Care REIT (0.97), Allegion (0.59), Marriott (0.49), Williams Companies (0.21), Safeway (0.48). Equity conferences during the remainder of this week include EnerCom Oil & Services Conference on Tue-Wed, Mitsubishi Tokyo Utility Conference on Tue-Wed, Consumer Analyst Group of New York Conference on Tue-Fri, and Barclays Industrial Select Conference on Wed-Thu.

Con-way (CNW -0.08%) was downgraded to ‘Hold’ from ‘Buy’ at Wunderlich.

Zale (ZLC -0.20%) surged over 40% in pre-market trading after it agreed to be acquired by Signet Jewelers for $ 1.4 billion or $ 21 per share.

Garmin (GRMN +2.37%) reported Q4 EPS of 76 cents, stronger than consensus of 62 cents.

Host Hotels & Resorts (HST -0.68%) reported Q4 EPS of 33 cents, better than consensus of 31 cents.

Crossroads (CRDS -1.27%) filed patent infringement suits against Cisco (CSCO -0.66%) , NetApp (NTAP -0.25%) and Quantum (QTM +4.35%) .

Forest Labs reported a 13.2% stake in Trevena (TRVN +0.87%) .

Oceaneering (OII +1.85%) reported Q4 EPS of 86 cents, better than consensus of 84 cents.

CF Industries (CF -2.36%) reported Q4 EPS of $ 5.71, well ahead of consensus of $ 4.49.

Panera Bread (PNRA -2.83%) reported Q4 EPS of $ 1.96, better than consensus of $ 1.94.

Herbalife (HLF +3.83%) gained 3% in after-hours trading after it reported Q4 adjusted EPS of $ 1.28, higher than consensus of $ 1.25.

Flowserve (FLS -0.21%) reported Q4 adjusted EPS of $ 1.10, stronger than consensus of $ 1.01.

Fluor (FLR +0.58%) reported Q4 EPS of $ 1.01, higher than consensus of 98 cents.

Analog Devices (ADI +0.91%) reported Q1 EPS ex-items of 49 cents, better than consensus of 48 cents.

Bruker (BRKR -0.64%) reported Q4 adjusted EPS of 31 cents, higher than consensus of 28 cents.

Columbia Sportswear (COLM +2.21%) reported Q4 EPS of $ 1.05, stronger than consensus of 92 cents.

Mar E-mini S&Ps (ESH14 -0.34%) this morning are down -6.25 points (-0.34%). The S&P 500 on Tuesday rebounded from early losses and posted a 3-week high as weaker-than-expected U.S. economic data was offset by increased M&A activity. The Feb Empire manufacturing index fell -8.03 to 4.48, a bigger decline than expectations of -4.01 to 8.50, and the Feb NAHB housing market index unexpectedly plunged -10 points to a 9-month low of 46. Stocks recovered on increased M&A activity after Actavis Plc agreed to buy Forest Laboratories for $ 25 billion. Closes: S&P 500 +0.12%, Dow Jones -0.15%, Nasdaq 100 +0.42%.

Mar 10-year T-notes (ZNH14 +0.17%) this morning are up +9 ticks at a 1-week high. Mar 10-year T-note futures prices on Tuesday rose to a 1-week high on speculation the U.S. economy is stumbling after the Feb Empire manufacturing index fell more than expected and the Feb NAHB housing market index unexpectedly plunged to a 9-month low. Closes: TYH4 +10.00, FVH4 +7.00.

The dollar index (DXY00 +0.03%) this morning is up +0.007 (+0.01%). EUR/USD (^EURUSD) is down -0.0012 (-0.09%). USD/JPY (^USDJPY) is down -0.39 (-0.38%). The dollar index on Tuesday closed lower on bigger-than-expected declines in the Feb Empire manufacturing index and the Feb NAHB housing market index. USD/JPY posted a 2-week high as the yen weakened after Japan Q4 GDP was weaker than expected and after the BOJ increased and extended its lending programs, a sign of easier monetary policy. Closes: Dollar index -0.128 (-0.16%), EUR/USD +0.00658 (+0.48%), USD/JPY +0.573 (+0.56%).

Mar WTI crude oil (CLH14 +0.68%) this morning is up +46 cents (+0.45%) and Mar gasoline (RBH14 -0.08%) is down -0.0058 (-0.20%). Mar crude and gasoline prices Tuesday closed higher. Mar crude rose to a 4-month high and Mar gasoline posted a 1-3/4 month nearest-futures high on bullish factors that included (1) a weaker dollar, (2) a rally in the S&P 500 to a 3-week high, and (3) expectations for the EIA to report on Thu that crude supplies at Cushing, OK, the delivery point for WTI futures, fell -1 million bbl as flows increased through the southern portion of the Keystone XL pipeline from Cushing to the Gulf Coast. Closes: CLH4 +2.13 (+2.12%), RBH4 +0.0270 (+0.96%).