Wed Jul 30 2014
Live Index (1447 articles)

Live Index – Wed, 30 Jul 2014 Premarket

PREMARKET WORLD NEWS

September E-mini S&Ps (ESU14 +0.32%) this morning are up +0.23% on better-than-expected earnings results from Twitter and Amgen, while European stocks were up +0.13% after better-than-expected earnings from Barclays Plc offset weaker-than-expected earnings results from Schneider Electric SE and Holcim Ltd. Another positive for European stocks was the unexpected increase in Eurozone Jul economic confidence. Russia’s Micex Stock Index climbed over 2% and the ruble gained for the first time in 5 days as investors judged the additional sanctions the U.S. and the EU imposed on Russia were milder than anticipated. Asian stocks closed mixed: Japan +0.18%, Hong Kong +0.37%, China -0.40%, Taiwan +0.59%, Australia +0.62%, Singapore -0.07%, South Korea +1.18%, India +0.37%. Japan’s Nikkei Stock Index posted a 6-month high as exporter stocks rallied after the yen weakened to a 3-1/2 week low against the dollar, which boosts the earnings prospects of exporters. Commodity prices are mixed. Sep crude oil (CLU14 +0.41%) is up +0.34%. Sep gasoline (RBU14 -0.02%) is down -0.08%. Aug gold (GCQ14 +0.05%) is up +0.01%. Sep copper (HGU14 -0.12%) is down -0.30%. Agriculture and livestock prices are mixed. The dollar index (DXY00 +0.10%) is up +0.09% at a 5-1/2 month high ahead of the results of today’s 2-day FOMC meeting. EUR/USD (^EURUSD) is down -0.07% at an 8-1/2 month low. USD/JPY (^USDJPY) is up +0.13% at a 3-1/2 week high. Sep T-note prices (ZNU14 -0.14%) are down -5 ticks.

The ECB’s quarterly bank lending survey said that while Eurozone credit standards in Q2 remained “relatively tight,” for the first time since Q2 of 2007, “Eurozone banks reported a net easing of credit standards on loans to enterprises in Q2 of 2014” and that “for loans to households, banks continued to ease credit standards in net terms.”

Eurozone Jul economic confidence unexpectedly rose +0.1 to 102.2, better than expectations of -0.1 to 101.9. The Jul business climate indicator fell -0.04 to 0.17, a bigger decline than expectations of -0.02 to 0.20 and the lowest in 9 months.

Japan Jun industrial production fell -3.3% m/m, a larger decline than expectations of -1.2% m/m and the most in 3-1/4 years. On an annual basis, Jun industrial production rose +3.2% y/y, less than expectations of +5.2% y/y.

U.S. STOCK PREVIEW

The 2-day FOMC meeting concludes today with a policy announcement. Fed Chair Yellen will not deliver a press conference after today’s FOMC meeting. Today’s July ADP employment report is expected to show a solid increase of +230,000. Today’s Q2 GDP report is expected to show an increase of +3.0% (q/q annualized), more than reversing the -2.9% decline seen in Q1 but resulting in virtually no net growth in the U.S. economy in the first half of 2014. The Treasury today will sell $ 29 billion of 7-year T-notes and $ 15 billion of 2-year floating-rate notes, concluding this week’s $ 108 billion T-note package.

There are 36 of the S&P 500 companies that report earnings today with notable reports including: Valero (1.20), WellPoint (2.26), Humana (2.19), Southern Co (0.67), Kraft (0.82), AllState (0.66), Whole Foods (0.39), Williams Co (0.22). Equity conferences this week include the following: Institute of Validation technology on Tue-Thu, and Marcus Evans 13th Annual Outage Management for Power Plants Conference on Tue-Thu.

PREMARKET U.S. STOCKS

WellPoint (WLP -2.61%) reported Q2 EPS of $ 2.44, better than consensus of $ 2.26.

Marriott (MAR -0.73%) reported Q2 adjusted EPS of 71 cents, higher than consensus of 67 cents.

Express Scripts (ESRX +2.09%) reported Q2 adjusted EPS of $ 1.23, better than consensus of $ 1.22.

U.S. Steel (X -0.61%) reported a Q2 EPS loss of -12 cents, a much smaller loss than consensus of -29 cents.

Owens-Illinois (OI -1.04%) reported Q2 EPS of 80 cents, weaker than consensus of 82 cents.

Edwards Lifesciences (EW -0.54%) reported Q2 EPS of 88 cents, above consensus of 77 cents, and then raised guidance on fiscal 2014 EPS outlook to $ 3.24-$ 3.34, higher than consensus of $ 3.19.

Amgen (AMGN +0.54%) rose 3% in after-hours trading after it reported Q2 EPS of $ 2.37, well above consensus of $ 2.07,and then raised guidance on fiscal 2014 EPS view to $ 8.20-$ 8.40 from $ 7.90-$ 8.20, higher than consensus of $ 8.09.

Global Payments (GPN +0.41%) reported Q4 cash EPS of $ 1.09, higher than consensus of $ 1.07.

Aflac (AFL -0.80%) reported Q2 EPS of $ 1.78, stronger than consensus of $ 1.59.

Fiserv (FISV +0.02%) reported Q2 EPS of 81 cents, better than consensus of 80 cents.

Amdocs (DOX -1.85%) reported Q3 EPS of 81 cents, higher than consensus of 79 cents.

Twitter (TWTR +1.74%) surged over 20% in after-hours trading after it reported Q2 EPS of 2 cents, higher than consensus of a -1 cent loss, and then raised guidance on 2014 revenue to $ 1.31 billion-$ 1.33 billion, better than consensus of $ 1.27 billion.

Buffalo Wild Wings (BWLD +1.47%) reported Q2 EPS of $ 1.25, better than consensus of $ 1.20.

American Express (AXP -0.16%) reported Q2 EPS of $ 1.43, above consensus of $ 1.38.

Ternium (TX +0.07%) reported Q2 EPS of 66 cents, well below consensus of 81 cents.

MARKET COMMENTS

Sep E-mini S&Ps (ESU14 +0.32%) this morning are up +4.50 points (+0.23%). The S&P 500 index on Tuesday closed lower: S&P 500 -0.45%, Dow Jones -0.42%, Nasdaq -0.21%. Bearish factors included (1) the +9.34% increase in the May S&P/CaseShiller Composite-20 home price index, less than expectations of +9.90% y/y and the slowest pace of increase in 15 months, and (2) concerns about new sanctions on Russia. Limiting weakness in stocks was the +4.5 point jump in Jul U.S. consumer confidence (Conference Board) to 90.9, the highest in 6-3/4 years.

Sep 10-year T-notes (ZNU14 -0.14%) this morning are down -5 ticks. Sep 10-year T-note futures prices on Tuesday closed higher. Bullish factors included (1) the unexpected -0.31% m/m decline in May S&P/CaseShiller Composite-20 home price index, the largest decline in 29 months, and (2) carry-over support from a rally in German bunds after the yield on the 10-year bund fell to 1.11%, the lowest since Bloomberg data began in 1989. T-note prices fell from their best levels after Jul U.S. consumer confidence rose more than expected to its highest in 6-3/4 years. Closes: TYU4 +8.00, FVU4 +3.50.

The dollar index (DXY00 +0.10%) this morning is up +0.073 (+0.09%) at a fresh 5-1/2 month high. EUR/USD (^EURUSD) is down -0.0009 (-0.07%) at an 8-1/2 month low and USD/JPY (^USDJPY) is up +0.13 (+0.13%) at a 3-1/2 week high. The dollar index on Tuesday climbed to a 5-1/2 month high and closed higher on expectations the dollar’s interest rate differentials will improve versus the euro and yen with the Fed expected to tighten monetary policy before the ECB and BOJ. EUR/USD tumbled to an 8-month low on concern the ECB will be forced to loosen monetary policy further as additional sanctions against Russia undercut European growth prospects. Closes: Dollar index +0.189 (+0.23%), EUR/USD -0.00308 (-0.23%), USD/JPY +0.261 (+0.26%).

Sep WTI crude oil (CLU14 +0.41%) this morning is up +34 cents (+0.34%) and Sep gasoline (RBU14 -0.02%) is down -0.0024 (-0.08%). Sep crude and gasoline prices on Tuesday settled mixed: CLU4 -0.70 (-0.69%), RBU4 +0.0187 (+0.66%). Sep crude fell to a 2-week low on bearish factors that included (1) the rally in the dollar index to a 5-1/2 month high and (2) concern that the shutdown of a Coffeyville, Kansas refinery because of a fire will curb the refinery’s crude demand and boost crude supplies at Cushing, OK, the delivery point for WTI futures. Gasoline closed higher on concern about reduced gasoline production after the shutdown of the 115,000 bpd refinery in Coffeyville, Kansas along with the shutdown of a 70,000 bpd refinery in St. John, New Brunswick.

 

GLOBAL EVENT CALENDAR07/30/2014
US0700 ETWeekly MBA mortgage applications, previous +2.4%, refi sub-index +4.1% and purchase sub-index +0.3%.
0815 ETJul ADP employment change expected +230,000, Jun +281,000.
0830 ETQ2 GDP expected +3.0% q/q annualized, Q1 -2.9%. Q2 personal consumption expected +1.9% q/q annualized, Q1 +1.0%. Q2 GDP price index expected +1.8%, Q1 +1.3%. Q2 core PCE expected +1.9%, Q1 +1.2%.
1030 ETEIA Weekly Petroleum Status Report.
1130 ETTreasury auctions $ 15 billion of 2-year floating-rate notes.
1300 ETTreasury auctions $ 29 billion of 7-year T-notes.
1400 ETFOMC announces policy decision with market expectations of no change in the federal funds rate target of zero to 0.25% and a further $ 10 billion cut in QE3 to $ 25 billion per month.
JPN0000 ETJapan Jun vehicle production, May +6.1% y/y.
2130 ETJapan Jun labor cash earnings expected +0.8% y/y, May +0.6% y/y.
UK0430 ETUK Jul Lloyds business barometer, Jun 51.
1905 ETUK GfK consumer confidence expected +1 to 2, Jun 1.
EUR0500 ETEurozone Jul economic confidence expected -0.1 to 101.9, Jun 102.0. Jul business climate indicator expected 0.02 to 0.20, Jun 0.22.
0500 ETRevised Eurozone Jul consumer confidence expected unrevised at -8.4.
GER0800 ETGerman Jul CPI (EU harmonized) expected +0.2% m/m and +0.8% y/y, Jun +0.4% m/m and +1.0% y/y.
U.S. STOCK CALENDAR07/30/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
Hess CorpHES USBef-mktQ2 2014 Earnings ReleaseQ2 20141.176
Hospira IncHSP USBef-mktQ2 2014 Earnings ReleaseQ2 20140.57
MeadWestvaco CorpMWV USBef-mktQ2 2014 Earnings ReleaseQ2 20140.501
Valero Energy CorpVLO USBef-mktQ2 2014 Earnings ReleaseQ2 20141.199
Pitney Bowes IncPBI USBef-mktQ2 2014 Earnings ReleaseQ2 20140.46
Lorillard IncLO USBef-mktQ2 2014 Earnings ReleaseQ2 20140.883
Dominion Resources Inc/VAD USBef-mktQ2 2014 Earnings ReleaseQ2 20140.62
ADT Corp/TheADT USBef-mktQ3 2014 Earnings ReleaseQ3 20140.467
Goodyear Tire & Rubber Co/TheGT USBef-mktQ2 2014 Earnings ReleaseQ2 20140.793
WellPoint IncWLP US6:00Q2 2014 Earnings ReleaseQ2 20142.262
Humana IncHUM US6:00Q2 2014 Earnings ReleaseQ2 20142.185
Sealed Air CorpSEE US7:00Q2 2014 Earnings ReleaseQ2 20140.382
Rockwell Automation IncROK US7:00Q3 2014 Earnings ReleaseQ3 20141.552
American Tower CorpAMT US7:00Q2 2014 Earnings ReleaseQ2 20141.06
Wisconsin Energy CorpWEC US7:00Q2 2014 Earnings ReleaseQ2 20140.516
Garmin LtdGRMN US7:00Q2 2014 Earnings ReleaseQ2 20140.755
Public Service Enterprise Group IncPEG US7:30Q2 2014 Earnings ReleaseQ2 20140.506
Southern Co/TheSO US7:30Q2 2014 Earnings ReleaseQ2 20140.665
Owens-Illinois IncOI US8:00Q2 2014 Earnings CallQ2 2014
Pitney Bowes IncPBI US8:00Q2 2014 Earnings CallQ2 2014
Genworth Financial IncGNW US8:00Q2 2014 Earnings CallQ2 2014
Phillips 66PSX US8:00Q2 2014 Earnings ReleaseQ2 20141.685
WellPoint IncWLP US8:30Q2 2014 Earnings CallQ2 2014
McKesson CorpMCK US8:30Annual General MeetingY 2014
Sealed Air CorpSEE US8:30Q2 2014 Earnings CallQ2 2014
Rockwell Automation IncROK US8:30Q3 2014 Earnings CallQ3 2014
ADT Corp/TheADT US8:30Q3 2014 Earnings CallQ3 2014
American Tower CorpAMT US8:30Q2 2014 Earnings CallQ2 2014
Express Scripts Holding CoESRX US8:30Q2 2014 Earnings CallQ2 2014
Franklin Resources IncBEN US8:30Q3 2014 Earnings ReleaseQ3 20140.951
CH Robinson Worldwide IncCHRW US8:30Q2 2014 Earnings CallQ2 2014
Aflac IncAFL US9:00Q2 2014 Earnings CallQ2 2014
Anadarko Petroleum CorpAPC US9:00Q2 2014 Earnings CallQ2 2014
Hospira IncHSP US9:00Q2 2014 Earnings CallQ2 2014
AGL Resources IncGAS US9:00Q2 2014 Earnings CallQ2 2014
Goodyear Tire & Rubber Co/TheGT US9:00Q2 2014 Earnings CallQ2 2014
Ameriprise Financial IncAMP US9:00Q2 2014 Earnings CallQ2 2014
Humana IncHUM US9:30Q2 2014 Earnings CallQ2 2014
Newmont Mining CorpNEM US10:00Q2 2014 Earnings CallQ2 2014
Hess CorpHES US10:00Q2 2014 Earnings CallQ2 2014
MeadWestvaco CorpMWV US10:00Q2 2014 Earnings CallQ2 2014
Valero Energy CorpVLO US10:00Q2 2014 Earnings CallQ2 2014
Marriott International Inc/DEMAR US10:00Q2 2014 Earnings CallQ2 2014
CA IncCA US10:00Annual General MeetingY 2014
Dominion Resources Inc/VAD US10:00Q2 2014 Earnings CallQ2 2014
Boston Properties IncBXP US10:00Q2 2014 Earnings CallQ2 2014
Kimco Realty CorpKIM US10:00Q2 2014 Earnings CallQ2 2014
Garmin LtdGRMN US10:30Q2 2014 Earnings CallQ2 2014
Equity ResidentialEQR US11:00Q2 2014 Earnings CallQ2 2014
Public Service Enterprise Group IncPEG US11:00Q2 2014 Earnings CallQ2 2014
Newfield Exploration CoNFX US11:00Q2 2014 Earnings CallQ2 2014
Franklin Resources IncBEN US11:00Q3 2014 Earnings CallQ3 2014
Phillips 66PSX US11:00Q2 2014 Earnings CallQ2 2014
Cincinnati Financial CorpCINF US11:00Q2 2014 Earnings CallQ2 2014
Southern Co/TheSO US13:00Q2 2014 Earnings CallQ2 2014
Wisconsin Energy CorpWEC US14:00Q2 2014 Earnings CallQ2 2014
Unum GroupUNM US16:00Q2 2014 Earnings ReleaseQ2 20140.874
Kraft Foods Group IncKRFT US16:00Q2 2014 Earnings ReleaseQ2 20140.822
Allstate Corp/TheALL US16:05Q2 2014 Earnings ReleaseQ2 20140.655
Akamai Technologies IncAKAM US16:30Q2 2014 Earnings CallQ2 2014
Lam Research CorpLRCX US17:00Q4 2014 Earnings CallQ4 2014
Allegion PLCALLE US17:00Q2 2014 Earnings ReleaseQ2 20140.638
Whole Foods Market IncWFM US17:00Q3 2014 Earnings CallQ3 2014
Western Digital CorpWDC US17:00Q4 2014 Earnings CallQ4 2014
Kraft Foods Group IncKRFT US17:00Q2 2014 Earnings CallQ2 2014
Lam Research CorpLRCX USAft-mktQ4 2014 Earnings ReleaseQ4 20141.234
Murphy Oil CorpMUR USAft-mktQ2 2014 Earnings ReleaseQ2 20141.216
Hartford Financial Services Group Inc/TheHIG USAft-mktQ2 2014 Earnings ReleaseQ2 20140.673
Tesoro CorpTSO USAft-mktQ2 2014 Earnings ReleaseQ2 20141.819
Noble Corp plcNE USAft-mktQ2 2014 Earnings ReleaseQ2 20140.656
Akamai Technologies IncAKAM USAft-mktQ2 2014 Earnings ReleaseQ2 20140.554
FMC CorpFMC USAft-mktQ2 2014 Earnings ReleaseQ2 20141.019
Whole Foods Market IncWFM USAft-mktQ3 2014 Earnings ReleaseQ3 20140.388
Western Digital CorpWDC USAft-mktQ4 2014 Earnings ReleaseQ4 20141.731
Williams Cos Inc/TheWMB USAft-mktQ2 2014 Earnings ReleaseQ2 20140.217
Lincoln National CorpLNC USAft-mktQ2 2014 Earnings ReleaseQ2 20141.363
MetLife IncMET USAft-mktQ2 2014 Earnings ReleaseQ2 20141.412
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