Asian stocks swung between gains and losses as concern that oil near a nine-month high will crimp economic growth was countered by a surge in Alibaba.com Ltd. and gains by telecommunications companies.
Nikkei 225 9,554 +90.98 +0.96%
Hang Seng 21,549.28 +70.56 +0.33%
S&P/ASX 200 4,293.11 +1.91 +0.04%
Shanghai Composite 2,403.59 +22.16 +0.93%
Alibaba, China’s No. 1 e-commerce web portal, jumped 42 percent after its parent offered to privatize the company.
NTT DoCoMo Inc. , Japan’s largest mobile-phone operator by market value, climbed 2 percent after a report it expanded capacity to prevent service glitches.
Kumho Petro Chemical Co. , a Korean maker of synthetic rubber and chemicals, slid 4.3 percent as crude oil remained above $105 a barrel. Wilmar International Ltd. , the world’s No. 1 palm-oil processing company, dropped 11 percent after its earnings fell short of analyst forecasts.
Asian stocks fell, with the regional benchmark index retreating from a six-month high, as oil prices at a nine-month high threatened to curb spending and accelerate inflation, tempering optimism after Euro-area finance ministers agreed a bailout package for Greece.
Nikkei 225 9,463.02 -22.07 -0.23%
Hang Seng 21,478.72 +53.93 +0.25%
S&P/ASX 200 4,291.2 +35.10 +0.82%
Shanghai Composite 2,381.43 +17.83 +0.75%
Panasonic Corp., a Japanese electronics company, dropped 1.9 percent to 710 yen in Tokyo after saying it plans to re- enter the European mobile-device market with a smartphone in April.
Mazda Motor Corp., Japan’s least profitable major automaker, slumped 9.9 percent to 145 yen on a report it plans to raise capital.
DeNA Co., a social-networking service provider, rallied 8.2 percent to 2,576 yen. DeNA and South Korea’s web-portal operator Daum Communications Corp. said they have started providing “Daum Mobage,” a South Korean version of DeNA’s social gaming platform, targeting 10 million users within a year.
OneSteel Ltd. surged the most in almost three years in Sydney as Australia’s second-biggest steelmaker said it’s switching focus to iron ore away from its loss-making steel unit. The shares rose 12 percent to 82 Australian cents, the biggest jump since April 2009.
European stocks fell from a six- month high amid speculation a Greek bailout deal won’t be sufficient to solve the nation’s debt crisis.
European finance ministers approved a 130 billion-euro ($173 billion) bailout package for Greece early today by tapping into European Central Bank profits and convincing investors to provide more debt relief to the Mediterranean country. The deal includes a 53.5 percent writedown for investors in the nation’s debt, according to Luxembourg’s Jean-Claude Juncker, who chaired the talks. Finance ministers haggled into the night in Brussels over the terms of new loans and a possible contribution by central banks.
The odds that Greece will remain encumbered by debt were illustrated by an analysis by European and International Monetary Fund officials that highlighted what could go wrong with a country unable to grow out of its fiscal woes by devaluing its currency. In a worst-case scenario Greece’s debt might balloon to 160 percent of gross domestic product in 2020, it concluded.
Unless 90 percent of investors sign up to the bond swap, Greece may need to use force to secure the debt relief, entering legal difficulties. Finland and Germany are among the nations whose lawmakers must back the new loans and the International Monetary Fund must also decide how much it is willing to contribute to the package.
National benchmark indexes dropped in all of the western European markets, led by Greece’s ASE, which sank 3.5 percent. France’s CAC 40 fell 0.2 percent and Germany’s DAX slid 0.6 percent. The U.K.’s FTSE 100 Index declined 0.3 percent.
National Bank of Greece led declines in financial shares, falling 9.5 percent to 2.68 euros, after three days of gains. Intesa Sanpaolo SpA dropped 2.4 percent to 1.53 euros in Milan. Deutsche Bank AG, Germany’s largest lender, fell 2.1 percent to 33.85 euros. Julius Baer Group Ltd. declined 2.5 percent to 36.66 Swiss francs.
TNT Express NV fell 2.9 percent to 9.89 euros after the express-delivery service in takeover talks with United Parcel Service Inc. reported a fourth-quarter loss as reorganization costs and losses in emerging markets mounted.
Tullow Oil Plc dropped 3.6 percent to 1,543 pence, the largest decline in a month, after announcing results for an exploration well in Sierra Leone.
U.S. stocks erased gains, after the Standard & Poor’s 500 Index failed to hold above its highest close since 2008, as approval of Greece’s bailout was offset by economic concern with crude oil jumping to a nine-month high.
European finance ministers approved 130 billion euros ($173 billion) in aid for Greece by tapping into European Central Bank profits and coaxing investors into providing more debt relief to shield the region from a default. The S&P 500 briefly reversed gains as oil jumped after Iran said it stopped selling crude to France and Britain.
Dow 12,965.69 +15.82 +0.12%, Nasdaq 2,948.57 -3.21 -0.11%, S&P 500 1,362.21 +0.98 +0.07%
Wal-Mart (WMT) lost 3.9 percent to $60.07. Chief Executive Officer Mike Duke is working to contain Wal-Mart’s costs and last quarter started pulling the company’s greeters from store lobbies to help with customer-service tasks. The retailer is seeking to keep prices low as its low-income shoppers suffer from persistent unemployment.
Netflix Inc. slumped 3.7 percent to $117.40. Comcast Corp., the largest U.S. cable company, will debut a service streaming television shows and movies to current customers that competes with Internet and video rivals.
Weatherford International Ltd. tumbled 14 percent to $15.36. The oilfield-services and equipment provider said it hasn’t repaired material weakness in internal controls related to taxes and may restate results for 2008 through 2011.
Chevron (CVX) gained 1.6 percent to $108.41. Exxon Mobil Corp. (XOM) added 1.1 percent to $86.57.
Macy’s increased 1.2 percent to $36.69. Its profitability shrank less than analysts projected as it was able to sell women’s handbags and accessories with its planned promotions rather than by slashing prices during the holiday season. Planned promotions can be profitable while last-minute efforts to clear excess inventories erode margins.
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3234 -0,07%
GBP/USD $1,5778 -0,45%
USD/CHF Chf0,9122 +0,05%
USD/JPY Y79,73 +0,14%
EUR/JPY Y105,53 +0,09%
GBP/JPY Y125,80 -0,30%
AUD/USD $1,0661 -0,87%
NZD/USD $0,8338 -0,71%
USD/CAD C$0,9967 +0,34%
Change % Change Last
Oil $105.88 +0.04 +0.04%
Gold $1,760.80 +2.30 +0.13%
U.S. stock-index futures advanced, paring earlier gains, on concern that Greece’s debt crisis will persist even after a second international bailout. European finance ministers approved 130 billion euros ($173 billion) in aid for Greece by tapping into European Central Bank profits and coaxing investors into providing more debt relief to shield the region from a default. Greece’s debt may still balloon to 160 percent of gross domestic product in a worst-case scenario, analysis by the International Monetary Fund and European officials indicated. Global Stocks:
Nikkei 9,463.02 -22.07 -0.23%
Hang Seng 21,478.72 +53.93 +0.25%
FTSE 5,929.59 -15.66 -0.26%
CAC 3,454.35 -18.19 -0.52%
DAX 6,903.75 -44.50 -0.64%
Crude oil $105.05 (+1,8%).
Gold $1748.00 (+1,3%).
Asian stocks fell, with the regional benchmark index retreating from a six-month high, as oil prices at a nine-month high threatened to curb spending and accelerate inflation, tempering optimism after Euro-area finance ministers agreed a bailout package for Greece.
Nikkei 225 9,463.02 -22.07 -0.23%
Hang Seng 21,478.72 +53.93 +0.25%
S&P/ASX 200 4,291.2 +35.10 +0.82%
Shanghai Composite 2,381.43 +17.83 +0.75%
Panasonic Corp., a Japanese electronics company, dropped 1.9 percent to 710 yen in Tokyo after saying it plans to re- enter the European mobile-device market with a smartphone in April.
Mazda Motor Corp., Japan’s least profitable major automaker, slumped 9.9 percent to 145 yen on a report it plans to raise capital.
DeNA Co., a social-networking service provider, rallied 8.2 percent to 2,576 yen. DeNA and South Korea’s web-portal operator Daum Communications Corp. said they have started providing “Daum Mobage,” a South Korean version of DeNA’s social gaming platform, targeting 10 million users within a year.
OneSteel Ltd. surged the most in almost three years in Sydney as Australia’s second-biggest steelmaker said it’s switching focus to iron ore away from its loss-making steel unit. The shares rose 12 percent to 82 Australian cents, the biggest jump since April 2009.
Asian stocks rose, extending the benchmark gauge’s longest streak of weekly gains since 2005, after China cut reserve requirements for banks to fuel lending and buoy economic growth, boosting demand for riskier assets.
Nikkei 225 9,485.09 +100.92 +1.08%
Hang Seng 21,427.06 -64.56 -0.30%
S&P/ASX 200 4,256.1 +60.23 +1.44%
Shanghai Composite 2,363.6 +6.42 +0.27%
Japanese steelmakers rose after Credit Suisse raised their stock-price estimates and maintained their “outperform” ratings. The investment bank expects export prices to recover and input prices to fall.
Franshion Properties China Ltd., a developer that gets all of its revenue from the mainland, rose 7.4 percent in Hong Kong. China Shipping Container Lines Co., the country’s second-largest carrier of sea-cargo boxes, jumped 7.3 percent. Japanese steelmakers advanced after Credit Suisse Group AG boosted their share-price estimates.
Billabong International Ltd. , an Australian surfwear company, jumped 8 percent in Sydney, extending its surge on Feb. 17, after saying it is considering a revised takeover offer.
European stocks rose for a fourth day, extending a six-month high, as euro-area finance ministers met in Brussels to discuss a Greek bailout and China cut banks’ reserve requirements to boost growth.
Finance ministers are meeting in Brussels to weigh the terms of new loans to Greece and a possible contribution by central banks. They also aim to start a bond exchange with private investors meant to stave off a Greek bankruptcy next month.
China cut the amount of cash that banks must set aside as reserves for the second time in three months to spur lending. Reserve requirements will fall by 50 basis points effective Feb. 24, the People’s Bank of China said.
National benchmarks gained in 17 of the 18 western European markets. France’s CAC 40 Index advanced 0.9 percent, while Germany’s DAX index added 1.4 percent. The U.K.’s FTSE 100 Index rose 0.6 percent.
TNT Express surged 60 percent to 10.13 euros after Europe’s second-largest package-delivery company rejected a $6.43 billion takeover offer from UPS.
A gauge of European energy companies rose 1 percent as oil rose to a nine-month high in New York after Iran said it halted some crude exports and investors bet that fuel demand will increase.
BP added 2.2 percent to 499.9 pence. Petroleum Geo-Services ASA jumped 9.2 percent to 87.65 kroner, its highest since Aug. 2, after fourth-quarter earnings before interest, taxes, depreciation and amortization beat analysts’ estimates.
BHP Billiton Ltd. climbed 2.6 percent to 2,075.5 pence, while Rio Tinto Group added 2.2 percent to 3,702.5 pence.
U.S. financial markets are closed today in observance of Presidents Day
Change % Change Last
Oil $105.00 +1.74 +1.70%
Gold $1,736.20 +10.30 +0.60%
Asian stocks rose, extending the benchmark gauge’s longest streak of weekly gains since 2005, after China cut reserve requirements for banks to fuel lending and buoy economic growth, boosting demand for riskier assets.
Nikkei 225 9,485.09 +100.92 +1.08%
Hang Seng 21,427.06 -64.56 -0.30%
S&P/ASX 200 4,256.1 +60.23 +1.44%
Shanghai Composite 2,363.6 +6.42 +0.27%
Japanese steelmakers rose after Credit Suisse raised their stock-price estimates and maintained their “outperform” ratings. The investment bank expects export prices to recover and input prices to fall.
Franshion Properties China Ltd., a developer that gets all of its revenue from the mainland, rose 7.4 percent in Hong Kong. China Shipping Container Lines Co., the country’s second-largest carrier of sea-cargo boxes, jumped 7.3 percent. Japanese steelmakers advanced after Credit Suisse Group AG boosted their share-price estimates.
Billabong International Ltd. , an Australian surfwear company, jumped 8 percent in Sydney, extending its surge on Feb. 17, after saying it is considering a revised takeover offer.
Asian stocks rose, with the regional benchmark index set to equal its longest streak of weekly advances, after U.S. economic reports beat estimates and optimism increased that Greece will get a second debt bailout, boosting demand for riskier assets.
Nikkei 225 9,384.17 +146.07 +1.58%
Hang Seng 21,457.24 +179.96 +0.85%
S&P/ASX 200 4,195.88 +14.02 +0.34%
Shanghai Composite 2,357.18 +0.32 +0.01%
Honda Motor Co., Japan’s second-largest carmaker by market value that generates 44 percent of its revenue in North America, rose 2.4 percent.
Mitsubishi UFJ Financial Group Inc., Japan’s biggest lender, led financial companies higher.
Billabong International Ltd., a global surfwear maker, surged 46 percent in Sydney after confirming a takeover approach.
Bridgestone Corp, the world’s biggest tiremaker by market value, jumped 4 percent to 1,833 yen after saying it expects net income will surge 63 percent to 168 billion yen ($2.1 billion) this year on growing sales. The Japanese tire company also said it will spend about 4.7 billion yen to boost production capacity.
European stocks advanced for a third day, pushing the Stoxx Europe 600 Index to a six-month high, as investors speculated that euro-area officials are nearing an agreement on a bailout for Greece.
Germany wants the currency area’s finance ministers to avoid separating the 130 billion-euro bailout for Greece from the planned bond swap with private creditors, officials from Europe’s largest economy said in a briefing to their country’s lawmakers. The finance chiefs of the 17 nations using the single currency meet on Feb. 20 in Brussels.
The Eurogroup meeting will probably approve the package and the debt exchange, three German officials involved in the telephone briefing yesterday said. A Finance Ministry spokesman declined to comment.
National benchmarks gained in every market except Norway. France’s CAC 40 Index and Germany’s DAX index both added 1.4 percent, while the U.K.’s FTSE 100 Index rose 0.3 percent.
A gauge of European banks advanced 1.4 percent making the biggest contribution to the Stoxx 600’s rally. Societe Generale, France’s second-largest lender, jumped 6.5 percent to 24.03 euros. Santander, Spain’s biggest bank, increased 2 percent to 6.41 euros. RBS climbed 3.2 percent to 27.6 pence and Barclays Plc added 1.4 percent to 248.35 pence. Banco Espirito Santo SA, Portugal’s largest bank, jumped 5.5 percent to 1.72 euros.
Piraeus Bank SA rallied 14 percent to 64.2 euro cents. Alpha Bank SA surged 16 percent to 1.81 euros.
Anglo American climbed 1.1 percent to 2,674 pence after the producer of metals and minerals from Africa to Brazil said that underlying earnings increased to $5.06 a share in 2011 from $4.13 a share in 2010.
Aegon NV rallied 7 percent to 3.99 euros. The Dutch insurer, which owns Transamerica Corp., said it aims to increase underlying pretax profit by 7 percent to 10 percent a year on average until 2015 and to post a return on equity of 10 percent to 12 percent. The company also reported fourth-quarter net income of 79 million euros.
U.S. stocks advanced, sending the Standard & Poor’s 500 Index near the highest level in about three years, amid optimism Greece will get a bailout.
Global stocks rallied as Germany expressed confidence that euro-area governments will agree on a 130 billion-euro ($171 billion) rescue for Greece within days, while seeking to keep a bond swap of the nation’s debt on track. German Chancellor Angela Merkel, Italian Prime Minister Mario Monti and Greek Prime Minister Lucas Papademos discussed plans in a conference call today and are optimistic finance ministers will resolve remaining issues when they meet on Feb. 20.
The S&P 500 has risen 8.3 percent so far this year as Europe stepped up efforts to tame its debt crisis and after reports on U.S. manufacturing, housing and jobs bolstered optimism in the world’s largest economy. Data today showed that the index of leading indicators rose in January and the cost of living climbed less than forecast, pointing to sustained economic growth with limited price pressures.
Dow 12,949.87 +45.79 +0.35%, Nasdaq 2,951.78 -8.07 -0.27%, S&P 500 1,361.23 +3.19 +0.23%
H.J. Heinz gained 4.55 percent. The company reported third-quarter earnings excluding some items of 95 cents a share, beating the average analyst estimate of 85 cents.
Campbell Soup added 2.62 percent. The company reported second-quarter earnings excluding some items of 64 cents a share.
Gilead tumbled 14 percent. Among eight patients with hepatitis C genotype 1 in a clinical trial, six had a viral relapse within four weeks after stopping a 12-week treatment with the medicine, GS-7977, plus ribavirin, Gilead said today in a statement. The two other patients are two weeks out from stopping treatment, and haven’t relapsed, the company said.
Change % Change Last
Oil $102.28 -0.03 -0.03%
Gold $1,729.10 +0.70 +0.04%
Resistance 3:1373 (high of 2011)
Resistance 2:1357 (Feb 15 high)
Resistance 1:1357 (session high)
Current price: 1345,25
Support 1:1334 (session low, Feb 10 low)
Support 2:1330 (Feb 6-7 low, earlier resistance, Jan 26 high)
Support 3:1317 (Feb 2 low)
U.S. stock futures fell as the euro area’s leaders remained divided over a bailout for Greece and Moody’s Investors Service reviewed global banks.
The euro area’s creditor countries struggled to reach an agreement over a bailout of Greece yesterday, seeking more control over how future aid is spent as the country faces possible default on a bond payment due on March 20.
Global Stocks:
Nikkei 9,238.1 -22.24 -0.24%
Hang Seng 21,277.28 -87.95 -0.41%
Shanghai Composite 2,356.86 -9.84 -0.42%
FTSE 5,866.67 -25.49 -0.43%
CAC 3,375.77 -14.58 -0.43%
DAX 6,708.96 -48.98 -0.72%
Crude oil: $101.46 (-0,3%).
Gold: $1712.10 (-0,9%).
Asian stocks fell, with the region’s benchmark index retreating from a six-month high, after a second bailout for Greece was postponed andWestpac Banking Corp. reported lower earnings.
Nikkei 225 9,238.1 -22.24 -0.24%
Hang Seng 21,277.28 -87.95 -0.41%
S&P/ASX 200 4,181.86 -71.54 -1.68%
Shanghai Composite 2,356.86 -9.84 -0.42%
Westpac, Australia’s second-largest lender, fell 3.5 percent as higher funding costs stemming from Europe’s crisis ate into profit.
BHP Billiton Ltd., the world’s No. 1 mining company, lost 2.2 percent in Sydney after metal prices dropped and rival Vale SA said earnings fell as customers pressed for discounts.
Phison Electronics Corp., a maker of controllers for flash memory, slid 6.9 percent in Taiwan on lower chip prices.
% Değişimi
Petrol $100.64 +1.97 +2.00%
Altın $1,724.60 -0.30 -0.02%
Change % Change Last
Oil $99.74 -0.10 -0.10%
Gold $1,730.50 -10.70 -0.61%
Asian stocks swung between gains and losses as rising commodity prices pushed energy and mining shares higher, while the yen’s rise weighed on Japanese exporters.
Nikkei 225 8,841 -8.25 -0.09%
Hang Seng 20,502 +62.53 +0.31%
S&P/ASX 200 4,288 +17.03 +0.40%
Shanghai Composite Closed
Woodside Petroleum Ltd. (WPL), an Australian oil and gas producer, added 1.5 percent.
Honda Motor Co., Japan’s second-largest carmaker by market value, dropped 1.9 percent after Prime Minister Yoshihiko Noda call for “bold” action failed to stem the yen’s appreciation.
NEC Corp. slid 7.1 percent in Tokyo after the electronics maker forecast its third loss in four years.
Hong Kong-based GCL-Poly Energy Holdings Ltd. led gains among solar panel makers in on speculation the market in China and Germany will expand.
Change % Change Last
Oil $99.09 +0.14 +0.14%
Gold $1,665.50 +1.00 +0.06%
Asian stocks rose, spurring a record start to the year for the regional benchmark index, amid signs China will relax credit controls and after confidence among U.S. home builders beat estimates.
Nikkei 225 8,640 +89.10 +1.04%
Hang Seng 19,943 +256.03 +1.30%
S&P/ASX 200 4,215 -3.11 -0.07%
Shanghai Composite 2,296 +29.69 +1.31%
Toyota Motor Corp. (7203), the world’s biggest carmaker by market value, advanced 1.4 percent in Tokyo.
Sumco Corp. (3436) led gains in semiconductor-related companies after ASML Holding NV, Europe’s largest maker of semiconductor equipment, forecast higher first- quarter orders.
Agile Property Holdings (3383) Ltd., a Chinese property developer, rose 6.9 percent in Hong Kong on speculation China may ease capital requirements for lenders.
Asian stocks rose, with a regional benchmark index set for the highest close in six weeks, as economic reports in the U.S. and Germany beat estimates and oil prices gained.
Nikkei 225 8,551 +84.18 +0.99%
Hang Seng 19,668 +40.24 +0.21%
S&P/ASX 200 4,218 +2.25 +0.05%
Shanghai Composite 2,266 -31.99 -1.39%
Fanuc Corp. (6954), a Japanese maker of factory automation systems that gets 75 percent of its sales abroad, rose 4.2 percent.
Inpex Corp. (1605), Japan’s biggest energy explorer, advanced 1.8 percent.
BHP Billiton Ltd. (BHP), Australia’s No. 1 oil and gas producer, gained 0.8 percent after reporting plans to boost exploration spending.
Tokyo Electric Power Co. surged 7.8 percent after the utility said it will raise power prices.
U.S. stock futures rose as China’s economic slowdown fueled speculation monetary policy will ease.
Spanish borrowing costs plunged at an auction as investors ignored S&P downgrades last week.
Manufacturing in the New York region expanded in January at the fastest pace in nine months.
Global stocks:
Nikkei 8,466 +88.04 +1.05%
Hang Seng 19,628 +615.55 +3.24%
Shanghai Composite 2,298 +92.18 +4.18%
FTSE 5,686 +29.03 +0.51%
CAC 3,252 +26.78 +0.83%
DAX 6,303 +83.43 +1.34%
Crude oil: $100.30 (+1,6%).
Gold: $1658.30 (+1,7%).
Intel (INTC) was downgraded to a Neutral from Overweight at JPMorgan.
Asian stocks rose, with the regional benchmark index heading for the highest close in almost six weeks, after French borrowing costs fell and the slowest Chinese growth since 2009 added to speculation policy makers will ease lending curbs in the world’s No. 2 economy.
Nikkei 225 8,466 +88.04 +1.05%
Hang Seng 19,628 +615.55 +3.24%
S&P/ASX 200 4,216 +68.40 +1.65%
Shanghai Composite 2,298 +92.18 +4.18%
Financial companies contributed the most to gains on the MSCI Asia Pacific Index amid optimism Europe’s debt crisis won’t throw the global financial system into disarray. HSBC rose 3.3 percent to HK$61.60.Westpac Banking Corp. (WBC), Australia’s No. 2 lender by market value, advanced 1.4 percent to A$20.66.
Chinese developers rose in Hong Kong. Agile Property added 9 percent to HK$8.39, while Country Garden Holdings Co. (2007) climbed 4.2 percent to HK$3.26.
Paladin Energy surged after reporting a 24 percent gain in output and forecasting a price increase for nuclear fuel. The shares advanced 12 percent to A$1.71.19 Jan:
Bank of America (BAC), EPS cons. $0.21
Intel Corp (INTC), EPS cons. $0.61
Microsoft Corp (MSFT), EPS cons. $0.77
Asian stocks fell ahead of a debt sale today by France after Standard & Poor’s stripped the country of its top credit rating and cut eight other European nations on concern the region hasn’t done enough to contain its debt crisis.
Nikkei 225 8,378 -121.66 -1.43%
Hang Seng 19,012 -192.22 -1.00%
S&P/ASX 200 4,147 -48.65 -1.16%
Shanghai Composite 2,206 -38.39 -1.71%
Financial companies contributed the most to the decline in the MSCI Asia Pacific Index. Mitsubishi UFJ Financial Group Inc. (8306), Japan’s biggest lender, fell 2.7 percent to 325 yen. HSBC Holdings Plc (HSBA), Europe’s biggest lender, lost 0.7 percent to HK$59.75. Hutchison Whampoa Ltd. (13), an operator of retail chains and ports that gets 53 percent of its revenue in Europe, slid 1.5 percent to HK$67.20.
Nikkei 225 8,489 -71.40 -0.83%
Hang Seng 18,813 +86.10 +0.46%
S&P/ASX 200 4,143 -45.16 -1.08%
Shanghai Composite 2,148 -20.94 -0.97%
Asian stocks retreated, snapping a two-day rally, after Australia’s services industry shrank and the euro weakened ahead of France’s plans to sells as much as 8 billion euros ($10.4 billion) of debt today. France plans to sell as much as 8 billion euros of debt today in the country’s first test this year of investor appetite for its bonds amid threats of a downgrade of its AAA rating by credit companies. Luxembourg Prime Minister Jean-Claude Juncker said the European Union is facing a recession of unknown scope.
Asian exporters declined as the euro dropped toward an 11- year low against the yen and fell to a four-month low against the won. A weaker euro cuts the value of European income at Japanese and South Korean companies when repatriated.
Sony Corp., a Japanese electronics maker that gets 21 percent of its sales from Europe, fell 2.2 percent as a weaker euro cut the earnings outlook for exporters.
Canon Inc., a camera maker that depends on Europe for almost a third of its sales, lost 1.2 percent to 3,390 yen.
Samsung Electronics Co., the world’s second-largest maker of mobile phones by sales, sank 2.3 percent to 1.055 million won in Seoul.
Change % Change Last
Oil $99.45 +0.09 +0.09%
Gold $1,551.10 -13.00 -0.83%
Change % Change Last
Nikkei 225 8,560 +104.76 +1.24%
Hang Seng 18,727 -150.10 -0.80%
S&P/ASX 200 4,188 +86.68 +2.11%
Shanghai Composite 2,169 -30.03 -1.37%
FTSE 100 5,668 -31.46 -0.55%
CAC 40 3,194 -51.75 -1.59%
DAX 6,112 -55.02 -0.89%
Dow 12,418.95 +21.57 +0.17%
Nasdaq 2,648.36 -0.36 -0.01%
S&P 500 1,277.32 +0.26 +0.02%
10 Year Yield 1.99% +0.03 --
S&P 500 1,249.67 -15.76 -1.25%
10 Year Yield 1.91% -0.10 --
Resistance 3:1267 (high of December)
Resistance 2:1264 (Dec 27-28 high)
Resistance 1:1253 (session high)
Current price: 1251,00
Support 1 : 1245/42 (support line from Dec 28, Dec 28 low)
Support 2 : 1237 (38,2 % FIBO 1195-1264)
Support 3 : 1235 (Dec 22 low)
Stock futures rose as Italy auctioned 7.02 billion euros ($9 billion) of bonds, falling short of the target, as borrowing costs declined in its final debt sale of the year. Italian Prime Minister Mario Monti said a package of measures that aim to spur growth will be ready before a meeting of European finance ministers on January 23. He said his government will first focus on making Italy’s debt sustainable and doesn’t “rule out” more aggressive efforts to reduce existing debt.
Nikkei 8,399 -24.73 -0.29%
Hang Seng 18,398 -120.75 -0.65%
Shanghai Composite 2,174 +3.55 +0.16%
FTSE 5,522 +14.60 +0.27%
CAC 3,078 +6.92 +0.23%
DAX 5,796 +24.58 +0.43%
Crude oil: $99,61 (+0,3%).
Gold: $1535,70 (-1,8%).
Gold continues to drop fifth straight day against the dollar strengthening. The dollar index for the six major world currencies has increased since the beginning of the day at 0.85%, rising above the level of 80.8 points.
Today, the Italian government has successfully implemented a 6-month treasury bills in the amount of 9 billion euros ($ 11.8 billion). The average yield on them was 3.25% per annum, which exactly half that at the November auction. At the same amount of money claimed by investors to participate in the auction, is 1.7 times higher than the amount collected. In November, investors offered 1.5 times greater than the required amount.Against this background, the yield on 10-year Italian government bonds, which experts regard as the most accurate barometer of the investment trust, fell 12 basis points to 6.75% per annum.
February gold in electronic trading on the New York Stock Exchange on Comex fell to 1570.50 dollars per troy ounce.
Nikkei 8,441 -38.78 -0.46%
Hang Seng 18,629 +250.94 +1.37%
Shanghai Composite 2,166 -23.90 -1.09%
CAC 3,104 +1.95 +0.06%
DAX 5,896 +16.73 +0.28%
Crude oil: $99.89 (+0,1%).
Gold: $596,20 (-0,6%).
Nikkei 225 8,479 +84.18 +1.00%
Hang Seng 18,629 +250.94 +1.37%
S&P/ASX 200 4,140 +49.59 +1.21%
Shanghai Composite 2,190 -15.11 -0.69%
Nikkei 225 8,395 -64.82 -0.77%
Hang Seng 18,629 +250.94 +1.37%
S&P/ASX 200 4,140 +49.59 +1.21%
Shanghai Composite 2,205 +18.49 +0.85%
Nikkei 225 8,460 +123.50 +1.48%
Hang Seng 18,416 +336.25 +1.86%
S&P/ASX 200 4,140 +86.42 +2.13%
Shanghai Composite 2,191 -24.78 -1.12%
Nikkei 225 8,654 +117.36 +1.37%
Hang Seng 18,555 -31.60 -0.17%
S&P/ASX 4,253 +49.83 +1.19%
Shanghai Composite 2,292 -23.73 -1.02%
Nikkei 225 8,536 -128.12 -1.48%
Hang Seng 18,586 -521.58 -2.73%
S&P/ASX 4,203 -77.66 -1.81%
Shanghai Composite 2,315 -14.55 -0.62%
Nikkei 225 8,722 +147.01 +1.71%
Hang Seng 19,238 +295.84 +1.56%
S&P/ASX 4,292 +30.48 +0.72%
Shanghai Composite 4,292 +30.48 +0.72%
Nikkei 225 8,575 -120.82 -1.39%
Hang Seng 18,926 -254.08 -1.32%
S&P/ASX 4,262 -59.35 -1.37%
Shanghai Composite 2,326 -7.32 -0.31%
Nikkei 225 8,696 +52.23 +0.60%
Hang Seng 19,180 +139.30 +0.73%
S&P/ASX 4,321 +33.32 +0.78%
Shanghai Composite 2,333 -27.43 -1.16%
Nikkei 225 8,435 -43.21 -0.51%
Hang Seng 17,989 -266.85 -1.46%
S&P/ASX 4,120 +17.71 +0.43%
Shanghai Composite 2,333 -78.98 -3.27%
Nikkei 225 8,287 +127.48 +1.56%
Hang Seng 18,038 +348.33 +1.97%
S&P/ASX 4,058 +73.86 +1.85%
Shanghai Composite 2,383 +2.81 +0.12%
Nikkei 225 8,165 -149.56 -1.80%
Hang Seng 17,935 +70.67 +0.40%
S&P/ASX 4,044 -6.81 -0.17%
Shanghai Composite 2,398 +2.49 +0.10%
Nikkei 225 closed
Hang Seng 17,864 -387.16 -2.12%
S&P/ASX 4,051 -81.98 -1.98%
Shanghai Composite 2,395 -17.56 -0.73%
Today is the deadline for the Congressional Budget Office to receive information for scoring a proposal in advance of the supercommittee’s Nov. 23 target date for reaching a deal.
Crude oil: $96.32 (-1,2%).
Gold: $1710,50 (-0,9%).
Nikkei 225 8,348 -26.64 -0.32%
Hang Seng 18,226 -265.38 -1.44%
S&P/ASX 4,163 -13.94 -0.33%
Shanghai Composite 2,415 -1.43 -0.06%
Nikkei 225 8,375 -104.72 -1.23%
Hang Seng 18,470 -347.84 -1.85%
S&P/ASX 4,177 -81.26 -1.91%
Shanghai Composite 2,417 -46.48 -1.89%
Nikkei 225 8,463 -78.77 -0.92%
Hang Seng 18,961 -387.54 -2.00%
S&P/ASX 4,247 -38.24 -0.89%
Shanghai Composite 2,467 -62.80 -2.48%
Nikkei 225 8,542 -61.77 -0.72%
Hang Seng 19,356 -152.02 -0.78%
S&P/ASX 4,286 -18.93 -0.44%
Shanghai Composite 2,530 +1.05 +0.04%
Nikkei 225 8,604 +89.23 +1.05%
Hang Seng 19,508 +371.01 +1.94%
S&P/ASX 4,305 +8.06 +0.19%
Shanghai Composite 2,529 +47.63 +1.92%
Currently FTSE 5,579 +33.04 +0.60%, CAC 3,193 -2.41 -0.08%, DAX 6,105 -28.02 -0.46%.
Change % Change Last
Nikkei 225 8,640 -195.10 -2.21%
Hang Seng 19,243 -491.21 -2.49%
S&P/ASX 200 4,172 -12.83 -0.31%
Shanghai Composite 2,508 +3.98 +0.16%
FTSE 100 5,546 +61.54 +1.12%
CAC 40 3,195 +84.88 +2.73%
DAX 6,133 +167.55 +2.81%
Dow 11,836.04 +178.08 +1.53%
Nasdaq 2,639.98 +33.02 +1.27%
S&P 500 1,237.90 +19.62 +1.61%
10 Year Yield 2.01% +0.00 --
Oil $92.89 +0.38 +0.41%
Gold $1,738.70 +9.10 +0.53%
Currently FTSE 5,507 +22.82 +0.42%, CAC 3,169 +58.82 +1.89%, DAX 6,076 +110.39 +1.85%.European stocks advanced, Europen stocks erasing earlier losses after Greek Prime Minister George Papandreou’s ruling party split over his call for a referendum on the latest bailout package, sparking speculation the vote may not happen.
Change % Change Last
Nikkei 225 8,640 -195.10 -2.21%
Hang Seng 19,734 +363.75 +1.88%
S&P/ASX 200 4,185 -48.26 -1.14%
Shanghai Composite 2,504 +34.09 +1.38%
FTSE 100 5,484 +62.53 +1.15%
CAC 40 3,111 +42.26 +1.38%
DAX 5,966 +131.12 +2.25%
Dow 11,836.04 +178.08 +1.53%
Nasdaq 2,639.98 +33.02 +1.27%
S&P 500 1,237.90 +19.62 +1.61%
10 Year Yield 2.01% +0.00 --
Oil $92.89 +0.38 +0.41%
Gold $1,738.70 +9.10 +0.53%
Change % Change Last
Nikkei 225 8,836 -152.87 -1.70%
Hang Seng 19,370 -494.91 -2.49%
S&P/ASX 200 4,233 -65.20 -1.52%
Shanghai Composite 2,470 +1.77 +0.07%
FTSE 100 5,422 -122.65 -2.21%
CAC 40 3,068 -174.51 -5.38%
DAX 5,835 -306.83 -5.00%
Dow 11,657.96 -297.05 -2.48%
Nasdaq 2,606.96 -77.45 -2.89%
S&P 500 1,218.28 -35.02 -2.79%
10 Year Yield 2.00% -0.17 --
Oil $91.38 -0.81 -0.88%
Gold $1,720.20 +8.40 +0.49%
U.S. stock futures fell also as China's official PMI unexpectedly fell to 50.4 from 51.2 in September.
Company news:
Bank stocks are falling hard premarket on fears that Greece's referendum could scuttle the bailout deal: BAC -6.3%, JPM -5.3%. BAC’ shares also may be weighed by pressure to reverse its planned monthly debit card fee after more rivals decide to drop similar plans.
Jon Peddie Research estimates PC graphics chip shipments rose 18.4% Y/Y in Q3, and that Intel's (INTC) market share rose to 60.4%, Nvidia's and AMD’s share fell.
Currently FTSE 5,389 -155.06 -2.80%, CAC 3,112 -131.21 -4.05%, DAX 5,848 -293.02 -4.77%.
European stocks dropped as the announcement of a Greek referendum spurred concern that the country may default.
Nikkei 225 8,836 -152.87 -1.70%
Hang Seng 19,370 -494.91 -2.49%
S&P/ASX 4,233 -65.21 -1.52%
Shanghai Composite 2,470 +1.77 +0.07%
Change % Change Last
Nikkei 225 8,988 -62.08 -0.69%
Hang Seng 19,865 -154.37 -0.77%
S&P/ASX 200 4,298 -55.15 -1.27%
Shanghai Composite 2,468 -5.16 -0.21%
FTSE 100 5,544 -158.02 -2.77%
CAC 40 3,243 -105.79 -3.16%
DAX 6,141 -204.85 -3.23%
Dow 11,955.01 -276.10 -2.26%
Nasdaq 2,684.41 -52.74 -1.93%
S&P 500 1,253.30 -31.79 -2.47%
10 Year Yield 2.18% -0.13 --
Oil $92.53 -0.66 -0.71%
Gold $1,716.20 -9.00 -0.52%
Hang Seng 19,865 -154.37 -0.77%
S&P/ASX 4,298 -55.15 -1.27%
Shanghai Composite 2,468 -5.16 -0.21%
Hang Seng 19,591 +524.42 +2.75%
S&P/ASX 4,348 +105.66 +2.49%
Shanghai Composite 2,433 +5.18 +0.21%
Hang Seng 18,972 +3.93 +0.02%
S&P/ASX 4,243 +14.62 +0.35%
Shanghai Composite 2,428 +18.66 +0.77%
Change % Change Last
Nikkei 225 8,762 -81.67 -0.92%
Hang Seng 18,968 +196.38 +1.05%
S&P/ASX 200 4,228 -27.16 -0.64%
Shanghai Composite 2,410 +39.34 +1.66%
FTSE 100 5,526 -22.52 -0.41%
CAC 40 3,174 -46.17 -1.43%
DAX 6,047 -8.52 -0.14%
Dow 11,706.62 -207.00 -1.74%
Nasdaq 2,638.42 -61.02 -2.26%
S&P 500 1,229.05 -25.14 -2.00%
10 Year Yield 2.13% -0.11 --
Oil $92.77 -0.40 -0.43%
Gold $1,704.10 +3.70 +0.22%
U.S. stocks fell, halting a three- day gain in the Standard & Poor’s 500 Index, after United Parcel Service Inc. sank and economic reports missed estimates as investors awaited tomorrow’s European summit. Stocks extended losses after consumer confidence unexpectedly slumped in October to the lowest level since March 2009, when the U.S. economy was in a recession, as Americans’ outlooks for employment and incomes soured. Separate data showed that home prices in 20 U.S. cities dropped more than forecast in August, highlighting one of the obstacles facing the economic recovery in its third year. European leaders will hold a summit tomorrow as they seek to bolster the region’s rescue fund, recapitalize banks and provide debt relief to Greece. Boosting the effectiveness of the European Financial Stability Facility will require further talks with investors as German lawmakers prepare to vote on its new powers, a European Union document showed.
S&P 500 1,244 -10.47 -0.83%, NASDAQ 2,672 -27.27 -1.01%, Dow 11,839 -74.33 -0.62%
All 10 groups in the S&P 500 retreated as a gauge of financial stocks slid 2 percent.
UPS, the largest package- delivery company and a proxy for the economy, retreated 1.9 percent after international shipping growth began to cool while U.S. expansion stagnated. The company’s total U.S. volume was flat in the third quarter because of “the slow U.S. economy,” Atlanta-based UPS said today in a statement. A 4.6 percent increase in shipments outside the U.S. trailed the 6.2 percent gain in the previous three months.
3M Co. (MMM), the maker Scotch-Brite sponges, lost 5.2 percent after cutting its 2011 profit forecast. The maker of auto parts and Scotch-Brite sponges cut its 2011 profit forecast after reporting third-quarter profit that fell short of analysts’ estimates.
Netflix plunged 35 percent to $77.74. The company faces rising content costs, a customer revolt over a price increase and startup costs as it expands into Latin America, followed by the U.K. and Ireland in early 2012.
European stocks fluctuated as the region’s leaders prepared for tomorrow’s summit on the euro-area debt crisis.
Currently FTSE 5,556 +8.27 +0.15%, CAC 3,207 -13.89 -0.43%, DAX 6,080 +24.56 +0.41%.
Nikkei 225 8,844 +165.09 +1.90%
Hang Seng 18,772 +746.10 +4.14%
S&P/ASX 4,255 +113.17 +2.73%
Shanghai Composite 2,370 +53.06 +2.29%
Nikkei 225 8,844 +165.09 +1.90%
Hang Seng 18,772 +746.10 +4.14%
S&P/ASX 4,255 +113.17 +2.73%
Shanghai Composite 2,370 +53.06 +2.29%
Hang Seng 18,053 +69.82 +0.39%
S&P/ASX 4,142 -3.04 -0.07%
Shanghai Composite 2,317 -14.09 -0.60%
Currently FTSE 5,475 +64.78 +1.20%, CAC 3,177 +36.07 +1.15%, DAX 5,966 +88.23 +1.50%.
European stocks rose amid conflicting reports that France and Germany have reached a deal on expanding the region’s rescue fund.
Currently FTSE 5,377 -59.65 -1.10%, CAC 3,110 -56.20 -1.78%, DAX 5,822 -37.48 -0.64%.
European stocks fell as concern that France may lose its top credit rating added pressure on the region’s leaders to find a solution to the debt crisis and as China’s economy grew at the slowest pace in two years.
Hang Seng 18,105 -769.30 -4.08%
S&P/ASX 4,187 -88.51 -2.07%
Shanghai Composite 2,383 -56.96 -2.33%
U.S. stock futures declined, as a German government spokesman damped expectations for a swift resolution to Europe’s debt crisis and a report showed New York- area manufacturing shrank more than forecast.
Germany said European Union leaders won’t provide the complete fix to the euro-area debt crisis that global policy makers are pushing for at an Oct. 23 summit. Group of 20 finance ministers and central bankers concluded weekend talks in Paris endorsing parts of an emerging plan to avoid a Greek default, bolster banks and curb contagion.
Company news:
- Citigroup: Q3 EPS of $1.23 beats by $0.42. Revenue of $20.8B (flat Y/Y) beats by $1.2B. Shares +2.4% premarket.
Currently FTSE 5,508 +41.65 +0.76%, CAC 3,234 +15.94 +0.50%, DAX 6,017 +49.47 +0.83%.
European stocks advanced after Group of 20 finance chiefs endorsed parts of a plan to halt the region’s debt crisis.
G-20 finance ministers and central bank governors concluded weekend talks in Paris endorsing parts of the emerging plan to avoid a Greek default, bolster banks and curb contagion. They set an Oct. 23 summit of European leaders in Brussels as the deadline for the euro area to deliver a deal.
Company news:
BP Plc surged 4.8% after saying that Anadarko Petroleum Corp. will pay $4 billion to settle all claims for last year’s Gulf of Mexico oil spill.
17 Oct Wells Fargo & Co $0.720
18 Oct Bank of America Corp $0.200
18 Oct Goldman Sachs Group -$0.020
18 Oct Coca-Cola $1.015
18 Oct Johnson & Johnson $1.208
18 Oct Apple $7.280
18 Oct Intel $0.651
Hang Seng 18,784 +282.06 +1.52%
S&P/ASX 4,275 +69.76 +1.66%
Shanghai Composite 2,440 +8.41 +0.35%
Hang Seng 18,421 -336.66 -1.79%
S&P/ASX 4,206 -38.94 -0.92%
Shanghai Composite 2,431 -7.42 -0.30%
Hang Seng 18,589 +259.57 +1.42%
S&P/ASX 4,245 +40.17 +0.96%
Shanghai Composite 2,437 +16.76 +0.69%
Currently FTSE 5,428 +32.24 +0.60%, CAC 3,202 +48.02 +1.52%, DAX 5,957 +92.36 +1.57%.
European stocks gained as European Union Commissioner Olli Rehn said the debt crisis a can be resolved, outweighing earnings from Alcoa Inc. (AA) that missed estimates.
Hang Seng 18,173 +462.28 +2.61%
S&P/ASX 4,228 +26.58 +0.63%
Shanghai Composite 2,349 +3.73 +0.16%
Hang Seng 17,565 -142.01 -0.80%
S&P/ASX 4,201 +38.14 +0.92%
Shanghai Composite 2,341 -18.03 -0.76
Currently FTSE 5,194 +92.27 +1.81%, CAC 3,047 +72.96 +2.45%, DAX 5,596 +122.61 +2.24%.
Hang Seng 17,047 +796.97 +4.90%
S&P/ASX 4,070 +143.41 +3.65%
Shanghai Composite closed
Currently FTSE 5,010 +65.28 +1.32%, CAC 2,908 +57.68 +2.02%, DAX 5,300 +82.93 +1.59%.
European stocks advanced amid speculation policy makers are examining measures to shield banks from the sovereign-debt crisis.
Company news:
Nikkei 225 8,456 -89.36 -1.05%
Hang Seng 16,250 -571.88 -3.40%
S&P/ASX 200 3,872 -24.91 -0.64%
Shanghai Composite 2,359 -6.12 -0.26%
FTSE 100 4,944 -131.06 -2.58%
CAC 40 2,851 -76.28 -2.61%
DAX 5,217 -159.99 -2.98%
Dow 10,808.71 +153.41 +1.44%
Nasdaq 2,405 +68.99 +2.95%
S&P 500 1,123.95 +24.72 +2.25%
10 Year Yield 1.78% -0.00 --
Oil $77.12 +1.45 +1.92%
Gold $1,622.90 +6.90 +0.43%
U.S. stock-index futures declined as Europe’s policy makers struggled to reassure investors they can contain the region’s debt crisis.
Hang Seng 17,992 -138.07 -0.76%
S&P/ASX 4,040 +34.94 +0.87%
Shanghai Composite 2,392 -22.99 -0.95%
European stocks climbed as finance ministers and central bankers urged policy makers in Europe to intensify efforts to contain the region’s debt crisis.
Equity futures trimmed losses as a European Central Bank official said policy makers may reintroduce 12-month loans to banks to ease funding strains.
Global stocks dropped today as a pledge by Group of 20 nations to tackle rising risks failed to ease concern the global economy is on the brink of another recession. Policy makers are “committed to a strong and coordinated international response to address the renewed challenges facing the global economy,” G-20 finance ministers and central bank governors said in a statement late yesterday in Washington.
Hang Seng 17,611 -301.30 -1.68%
S&P/ASX 3,930 -34.91 -0.88%
Shanghai Composite 2,419 -23.81 -0.97%
Hang Seng 18,804 -211.11 -1.11%
S&P/ASX 4,072 +31.55 +0.78%
Shanghai Composite 2,513 +65.61 +2.68%
S&P/ASX 4,082 -67.89 -1.64%
Shanghai Composite 2,441 -41.72 -1.68%
Shanghai Composite 2,471 -26.45 -1.06%
FTSE 5,174 +44.63 +0.87%
CAC 2,895 +40.12 +1.41%
DAX 5,166 +94.03 +1.85%
Dow 11,105.85 +44.73 +0.40%
Nasdaq 2,532 +37.06 +1.49%
S&P 1,172.87 +10.60 +0.91%
10 Year Yield 1.99% +0.06 --
Oil $89.94 +1.75 +1.98%
Gold $1,840.00 +9.90 +0.54%
Shanghai Composite 2,471 -26.45 -1.06%
FTSE 5,174 +44.63 +0.87%
CAC 2,895 +40.12 +1.41%
DAX 5,166 +94.03 +1.85%
Dow 11,105.85 +44.73 +0.40%
Nasdaq 2,532 +37.06 +1.49%
S&P 1,172.87 +10.60 +0.91%
10 Year Yield 1.99% +0.06 --
Oil $89.94 +1.75 +1.98%
Gold $1,840.00 +9.90 +0.54%
The broad market remains mired in negative territory with a loss of more than 1%. Of the major sectors, only utilities, consumer discretionary, and tech have managed to limit their losses to less than 1% (they are all down 0.8%). In contrast, aggressive selling continues to take materials stocks lower; as such, the sector is now down 2.5%.
Financials were a source of leadership yesterday, when the sector surged almost 5%, but today the group is grappling with some selling pressure that took the sector to an early loss of more than 1%. The sector has since cut that loss in half, but it is still one of the worst performing sectors of early trade. Insurance issues AIG (AIG 25.03, -0.36) and Hartford Financial (HIG 17.66, -0.17) and regional banking plays PNC Financial (PNC 48.51, -0.57) and Comerica (CMA 23.27, -0.27) are in the worst shape.
U.S. stocks were headed for a slightly lower open Thursday, following separate reports showing the U.S. trade gap narrowed in July and jobless claims rose more than expected in the latest week.
Investors remain on edge ahead of President Obama's highly anticipated jobs speech Thursday evening.
Europe is a continued point of concern for investors who are also focusing on the U.S. economy and jobs. Just last week, the government released a dismal jobs report that showed zero growth, bolstering concern for the overall economy.
Stocks are coming off of sharp gains Wednesday, following a three-day rout.
Economy: Filings for first-time unemployment benefits rose 2,000 to 414,000 in the week ending Sept. 2, the Labor Department reported Thursday. That was up from the 409,000 claims filed the week before, and worse than the 400,000 claims economists surveyed by Briefing.com had expected.
The U.S. trade gap narrowed to $44.8 billion in July, led by a surge in exports. Trade balance figures were expected to show the deficit widened to $51.5 billion in July from $53.1 billion in June.
Once the stock market opens, investors will be monitoring a speech from Federal Reserve Chairman Ben Bernanke at 17:30 GMT. Fed watchers are looking for any hints that the central bank is considering further stimulus measures, beyond its latest pledge to keep interest rates low until mid 2013.
After the market closes, President Obama will wrap up the busy day with a speech on job creation at 23:00 GMT. He is expected to propose roughly $300 billion in stimulus measures to get job creation back on track.
On the European front, the Bank of England voted to leave interest rates. unchanged at 0.5%.
The European Central Bank also opted to keep its key interest rate unchanged at 1.5%.The ECB last raised its rates in July to combat rising inflation, but economists had expected the central bank to put its rate hikes on hold, due to weak economic growth in the region.
Investors will be monitoring ECB president Jean-Claude Trichet's latest assessment on Europe's economy.
Companies: AOL (AOL) will be in the spotlight as the AOL-TechCrunch fiasco continues. Inside sources say TechCrunch's founder Michael Arrington will be fired, after news broke of his new venture -- CrunchFund.
World markets:
Oil for October delivery slipped 5 cents to $89.29 a barrel.
Gold futures for December delivery rose $15.90 to $1,833.50 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 2.04% from 2.02% late Wednesday.
The stock market is gradually adding to its opening gain. Stocks now sit at session highs.
Financial stocks have extended their lead (+2.1%) over the rest of the market. Regional lenders like Regions Financial (RF 4.11, +0.21) and insurance and financial services issues like Hartford Financial (HIG 17.48, +0.77) are atop the list of leaders.
Japan's benchmark stock indices ended Wednesday's session higher, rallying from Tuesday's 2-1/2 year low. The Nikkei ended up 172.84 points, or 2.01%, to stand at 8763.41. The broader-based TOPIX was higher by 12.44 points at 753.64.
All three major equity averages are down in excess of 2%. To little surprise, then, weakness is widespread.
Industrials, financials, and energy stocks are in the worst shape. The three sectors are all contending with losses of at least 3%. Telecom, which is down 1.5%, represents the best performing sector this morning.
Spreadbetters Cantor Index are calling the FTSE down 1, the DAX down 34, the CAC down 12 and the Eurostoxx 50 down 9.
Nikkei +132.75 (+1.5%) 8,772.36
Topix +9.58 (+1.3%) 751.82
DAX -96.94 (-1.71%) 5,584
CAC -20.55 (-0.65%) 3,119
FTSE-100 -74.75 (-1.44%) 5,131
Dow -170.81 (-1.51%) 11,149.90
Nasdaq -48.06 (-1.95%) 2,420
S&P500 -18.33 (-1.56%) 1,159
Oil -0.32 (-0.38%) $84.98
10-Years 2.22% -0.04
Stocks are drifting along in a narrow trading range. That has kept the broad market down with a loss of 1%. Financials, which offered, leadership in the early going, have been mired near the neutral line.
Oil was little changed near its highest in a week on speculation that the Federal Reserve may announce new measures to stimulate the economy, and after U.S. crude inventories declined.Corrently oil futures for Oktober delivery are at $85.56 per barrel (+0.5%).
Majors close
Nikkei 225 -93.40 -1.07% 8,639.61
FTSE 100 +76.43 +1.49% 5,205.85
CAC 40 +55.18 +1.79% 3,139.55
DAX +148.70 +2.69% 5,681.08
Dow +143.95 +1.29% 11,320.71
Nasdaq +21.63 +0.88% 2,467.69
S&P 500 +15.25 +1.31% 1,177.60
10 Year Yield 2.26% +0.12
Japanese stocks fell ahead of a meeting of central bankers this week as investors questioned whether any stimulus announced by Federal Reserve Chairman Ben S. Bernanke would be enough to prop up a weakening U.S. economy.
Toyota Motor Corp. (7203), the world’s biggest carmaker, dropped 1.6 percent. Sony Corp., Japan’s No. 1 exporter of consumer electronics, slid 2.9 percent. Mitsubishi UFJ Financial Group Inc. (8306) led banking shares lower after Moody’s Investors Service downgraded the debt ratings of Japan’s biggest lenders. Moody’s also lowered its rating on Japanese sovereign debt.
The Nikkei 225 Stock Average dropped 1.1 percent to 8,639.61 at the 3 p.m. close of trading in Tokyo after weaker weaker-than-estimated U.S. economic data eroded investor confidence ahead of a meeting this week in Jackson Hole, Wyoming, where Bernanke is expected to signal new stimulus.
Japanese shares extended declines in afternoon trading after measures announced by Finance Minister Yoshihiko Noda to protect Japanese exporters failed to weaken the yen. The Topix index dropped 1.1 percent to 742.24.
European stocks climbed for a third day after a report on U.S. durable-goods orders beat forecasts amid ongoing speculation that the Federal Reserve will act to bolster the economy.
Daimler AG (DAI) and Fiat SpA (F) led a gauge of automakers to the biggest gain in 13 months. Ageas, the majority owner of Belgium’s largest life insurer, surged 21 percent after announcing a buyback. WPP Plc (WPP), the world’s largest advertising company, advanced 7.4 percent as profit beat estimates. Heineken NV (HEIA), the world’s third-biggest brewer by volume, tumbled the most since 2003 after saying earnings are unlikely to grow this year.
The Stoxx Europe 600 Index rose 1.4 percent to 229.79 at the 4:30 p.m. close in London, extending the advance from the two-year low reached at the end of last week to 3 percent. The gauge has still fallen 21 percent from this year’s peak on Feb. 17 as European and U.S. economic data that trailed economists’ forecasts added to concern the global recovery is at risk.
“Everyone is waiting for Friday’s meeting of the Federal Reserve,” said John Plassard, a director at Louis Capital Markets in Geneva. “Until then, every bit of good news, such as the strong durable-goods numbers, will support the markets.”
U.S. stocks rose, extending the biggest rally for the Standard & Poor’s 500 Index in a week, after reports on durable-goods orders and home prices beat forecasts and financial companies advanced.
Bank of America Corp. (BAC) surged 9.2 percent after Meredith Whitney, who predicted Citigroup Inc. (C)’s dividend cut three years ago, said it has no urgent need to raise capital. A gauge of 12 homebuilders in S&P indexes increased 1.7 percent. Newmont Mining Corp. (NEM) slumped 2.4 percent after gold futures plunged the most since 2008 as demand for haven waned.
The durable-goods data wiped out a 1.4 percent retreat in futures on the index. The Dow Jones Industrial Average added 72.13 points, 0.7 percent, to 11,248.89.
“Any time you see life in the walking dead, it certainly makes you feel a lot better,” Bruce McCain, who helps oversee $22 billion as chief investment strategist at the private- banking unit of KeyCorp in Cleveland, said in a telephone interview. “There’s so much pessimism priced into the market that if we get any decent news, it’s going to buoy investors’ spirits. If investors can be reassured that a disaster is not imminent, that’s good for the market.”
With traders awaiting a speech on Aug. 26 by Federal Reserve Chairman Ben S. Bernanke in Jackson Hole, Wyoming, trading is being affected more than usual by levels monitored by analysts who base forecasts on price and volume history.
EUR/USD
Offers: $1.4470, $1.4490/00
Bids: $1.4400, $1.4380/70
GBP/USD
Offers: $1.6515/25
Bids: $1.6425/20
USD/JPY
Offers: Y76.85/90, Y77.20/25, Y77.40/45
Bids: Y76.45/40, Y76.35/30, Y75.95/90
AUD/USD
Offers: $1.0590/00
Bids: $1.0445/40, $1.0390/80, $1.0365/60
EUR/JPY:
Offers: Y111.00/10, Y111.50/60, Y112.35/40
Bids: Y110.05/00, Y109.30/20
The S&P Sep contract was last down 24 points at 1165.8, having touched a low at 1162.6. Nasdaq futures were last down 50.00 points at 2125.25, just shy of the 2121.5 low.
Stocks are slowly drifting deeper into negative territory. They now trade only narrowly above session lows.
Action this afternoon comes in stark contrast to what was exhibited this morning, when more than 90% of the names in the S&P 500 had advanced to give the stock market a gain of more than 1%. Although it may now be a moot point, the move had more than offset the prior session's loss.
Japanese shares are down slightly with cement manufacturing and machinery weighing.
Taiheiyo Cement Corp. (5233) is down 2.65% and Hitachi Ltd. (6501) is down 2.32%.
Aluminum manufacturing is providing support, with Nippon Light Metal Co. (5701) up 2.82%.
The Nikkei is down 0.44% at 9068.39.
Following US gains and despite a mixed Asian session the FTSE 100 is seen higher by 23 points with the Dax up 26 and Cac up 7.
Stocks have begun to pull back from a strong upward push that came with the open, but the broad market continues to boast a gain of more than 1%.
To little surprise, financials are leading the action. The sector has been a driving force behind broad market action all week. Today, the sector is up 1.8%, which makes it the top performing sector.
Tech stocks aren't far behind, however. The sector's 1.6% gain has been helped along by a positive response to the latest quarterly report from Dow component Cisco (CSCO 15.64, +1.91)
Intesa Sanpaolo, Unicredit and Mediobanca shares are suspended from trading due to excessive volatility. Traders also note story doing the rounds that BNP Paribas faces another E713mln write-downs related to its Greek debt exposure.
Nikkei 8,944 -153.08 -1.68%
Hang Seng 19,576 -914.44 -4.46%
S&P/ASX 4,035 +48.72 +1.22%
Shanghai Composite 2,526 -0.75 -0.03%
FTSE 100 -142.18 -2.71% 5,104.81
CAC 40 -153.37 -4.68% 3,125.19
DAX -312.89 -5.02% 5,923.27
Dow -633.78 -5.54% 10,810.83
Nasdaq -174.72 -6.90% 2,357.69
S&P 500 -79.85 -6.66% 1,119.53
10 Year Yield 2.34% -0.22 --
Oil $81.01 -0.30 -0.37%
Gold $1,717.00 +3.80 +0.22%
Majors close:
Nikkei -207.45 (-2.11%) 9,637.14
Topix -17.21 (-2.04%) 826.75
DAX -156.16 (-2.30%) 640.59
CAC -67.85 (-1.93%) 3,454.94
FTSE-100 -133.88 (-2.34%) 5,584.51
Dow +29.82 (+0.25%) 11,896.40
Nasdaq +6.29 (+0.50%) 1,260.34
S&P500 +23.83 (0.89%) 2,693.07
10-Years 2.62% +0.009
Oil -1.860 (-1.98%) 91.930
Gold -21.800 (-1.33%) 1,666.300
Most Asian stock markets closed lower by 2% on Wednesday.
Investors remained cautious as questions about the US economic recovery linger amid weak US macroeconomic data. The markets was also under speculations about EU debt crisis as Italy’s 10-year yield jumped to the most since 1997 Tuesday.
So many investors dumped equities in favor of investments perceived to be safer, such as gold. The gold hit a new life-time high at the Asian session.
Port operator Cosco Pacific Ltd. plunged 7.6%, and merchandise trading firm Li & Fung Ltd. sank 5%.
Shares of China Cosco Holdings Co. tumbled 5.2% in Hong Kong, after UOB Kay Hian cut its price target, saying the shipping company is expected to post a loss in the first half of the year.
Many of the region’s steel makers were also hard-hit, with JFE Holdings Inc. dropping 3.3% in Tokyo, BlueScope Steel Ltd. stumbling 5.4% in Sydney, and Hyundai Steel Co. giving up 3.9% in Seoul.
Such concerns helped the financial sector lose ground in Asia, with Sumitomo Mitsui Trust Holdings Inc. down 2.7% in Tokyo, Australia & New Zealand Banking Group Ltd. dropping 2.6% in Sydney, and HSBC Holdings PLC losing 1.2% in Hong Kong.
European stock equities also ended the day lower by 2%.
The markets remain under pressure by concerns over possible slowdown in global economy growth. On Wednesday both French and Belgium 10-year bond spreads over German Bunds were at record widens, boosting worries about EU debt crisis.
The exchanges received support from beating PMI services data from UK and EU in a whole.
Then Italian PM Berlusconi spoke, denying a problem and blaming the current crisis on international speculation. He said the nation's banks - having passed the stress tests – “are solid”, and noted that “Italy is well capitalized and can finance the economy”.
Morning inventories data from EIA put pressure on the markets as showed a rise in stockpiles by 1 mln barrels in the week ended June 23.
Cairn Energy PLC was among Wednesday’s worst performers in London, dropping 5.1%. The oil and gas exploration company said its LF7-1 well, drilled in a basin off the coast of Greenland, didn’t find oil.
Mining stocks were also lower, including a 4.2% pullback for BHP Billiton PLC (-4.22%) . Credit Suisse downgraded BHP to a neutral rating from outperform, saying Rio Tinto PLC (-3.86%) is its preferred play in the sector.
The banking sector of the region appeared under pressure after French bank Societe Generale (-9%) warned that its 2012 earnings target will be hard to achieve after taking writedowns on its Greek bond holdings.
Most other banks saw shares fall, including a 6.6% retreat for Credit Agricole SA in Paris and a 3.7% pullback for Commerzbank AG in Frankfurt.
US stocks rebounded to the green zone.
Concerns about slowdown in global economy remained as the US debt ceiling bill was signed Tuesday. A fall in ISM Non-Manufacturing put pressure on the markets during the afternoon.
Despite the disappointing U.S. macroeconomic data and continuing concerns over US economy, the stock markets received a strong support from a bundle number of positive corporate reports.
Partly the markets were supported by some upbeat comments from Fed governors Donald Kohn, Vincent Reinhart and Brian Madigan, who told the Wall Street Journal that the Fed may consider another round of stimulus.
Economy: According to the report drom ADP Employer Services, companies in the U.S. added 114K workers to payrolls in July, beating estimated gain of 101K. The June figure was revised down to a gain of 145K from a previously reported 157K.
June factory orders declined by 0.8% after rising 0.6% last period, but up from forecasted drop by 1.0%.
Crude oil stocks change from EIA showed a rise in stockpiles by 1 mln barrels in the week ended June 23.
Japan's benchmark stock indices ended session mixed, unable to hold gains after the BOJ moved on policy. The Nikkei ended higher by 22.04 points, or 0.23%, to stand at 9659.18. The broader-based TOPIX was down 0.48 points at 826.27.
Nikkei -207.45 (-2.11%) 9,637.14
Topix -17.21 (-2.04%) 826.75
DAX -156.16 (-2.30%) 640.59
CAC -67.85 (-1.93%) 3,454.94
FTSE-100 -133.88 (-2.34%) 5,584.51
Dow +29.82 (+0.25%) 11,896.40
Nasdaq +6.29 (+0.50%) 1,260.34
S&P500 +23.83 (0.89%) 2,693.07
10-Years 2.62% +0.009
Oil -1.860 (-1.98%) 91.930
Gold -21.800 (-1.33%) 1,666.300
Currently S&P industry groups are mixed. Basic Materials sector suffer the biggest losses (-1.1%). Top gainers are Technology, Services and Conglomerates (each +0.6%).
Investors remain cautious as questions about the economic recovery linger.
ISM Non-Manufacturing missed estimates. Better-than-expected statistics from ADP don't suspport the markets as last month ADP data were also significantly higher forecasts, but followed two days later government report showed substantial lower payrolls than expected.
Majors close:
Nikkei -120.42 (-1.21%) 9,844.59
Topix -7.74 (-0.91%) 843.96
DAX -157.23 (-2.26%) 6,796.75
CAC -65.26 (-1.82%) 3,522.79
FTSE-100 -56.04 (-0.97%) 5,718.39
Dow -265.87 (-2.19%) 11,866.60
Nasdaq -75.37 (-2.75%) 2,669.24
S&P500 -32.89 (-2.56%) 1,254.05
10-Years 2.61% -0.14
Oil -0.58 (-0.62%) 93.19
Gold +19 (+1.16%) 1,664
The markets fell after Monday’ weak macroeconomic data from the U.S. According to the Institute for Supply Management (ISM), US manufacturing index of business activity dropped to 50.9 in July, down from 55.3 in June.
Purchasing managers index data from Brazil and the U.K. also showed a contraction in July manufacturing activity.
Average forecast was a reduction to 53.0 points.
Japanese exporters strained under the weight of a strengthened yen, which fueled speculation that Tokyo might intervene to curb the currency’s rise. Today Japanese Finance Minister Yoshihiko Noda said the nation’s currency is overvalued and he’s watching markets closely.
As a result, shares of Japanese export-aimed companies dropped: Nikon Corp. -2.85%, Komatsu Ltd. -1.88%, Nintendo Co. -2.78%.
Loss-based banks in China have put pressure on the indices of Hong Kong and Shanghai. In Hong Kong, shares of Industrial & Commercial Bank of China Ltd. -3.67% lost after reports that Goldman Sachs sold 638 million shares in Hong Kong.
Shares of HSBC Holdings PLC rose 1.23% in Hong Kong after the quarterly report exceeded expectations and disclosure of plans to reduce 30 thousand workers in 2013.
Against the background of falling oil futures declined yesterday that because of fears of slowing U.S. economy, also suffered the loss of the energy sector: the Hong Kong stock Cnooc Ltd. decreased by 1.02%, Aluminum Corp. of China Ltd., or Chalco dropped by 2.67%. In Sydney, shares of Chalco lost 1.44%.
Meanwhile, a decline for Chinese banks weighed on stocks in Hong Kong as well as Shanghai.
Mainland China-based banks were mostly lower in Hong Kong. Shares of Industrial & Commercial Bank of China Ltd. dropped by 3.7% following media reports that Goldman Sachs International had sold 638 million Hong Kong-listed shares of the Chinese lender for a client.
Shares of HSBC Holdings PLC climbed by 1.2% in Hong Kong and provided support to the broader market a day after the company reported better-than-expected first-half results and announced a plan to cut 30,000 jobs by 2013.
Several resource-sector stocks also fell in the region after commodity prices declined in U.S. trading. Shares of energy major Cnooc Ltd. dropped 1%, and Aluminum Corp. of China Ltd., or Chalco, gave up 2.7% in Hong Kong. Chalco’s shares also lost 1.4% in Shanghai trading.
European stock exchanges plunged to a 10-month low.
European stocks shed amid concern that a slowdown in the world’s largest economy may derail global growth. Surged bond yields in Italy reawakened concern that the region’s debt crisis will worsen amid slowing global growth. Italy’s 10-year yield jumped to the most since 1997.
Market participants also concerned that the crafted agreement between Barack Obama and congressional leaders to raise the federal debt ceiling and spending reduction may lead to slowdown in economic recovery. Yesterday they approved legislation to hike the U.S. debt limit by at least $2.1 trillion and cut federal spending by $2.4 trillion.
The Switzerland’s SMI index (SMIC) tumbled 4.1% as the euro and the US dollar dropped to a record low against the franc: Swiss Re AG (SREN) -5.44%, ABB Ltd. - 4.64%, Nestle SA - 1.29%
In Italy Fiat Industrial SpA’ shares fell by 8.43% and Parmalat SpA IT: PLT decreased by 2.70%.
In London banking sector was the worst performer : shares of Rio Tinto PLC fell by 1.91%, shares of BHP Billiton PLC went down by 1.93%.
US stocks eased 2%-3% on Tuesday.
The markets plummeted down amid concern that the agreement between Barack Obama and congressional leaders on federal debt ceiling and spending reduction may lead to slowdown in economic recovery. On Tuesday the Senate and President Obama approved approved the legislation plan to hike the U.S. debt limit by at least $2.1 trillion and cut federal spending by $2.4 trillion.
IMF' chief Lagarde said that “By reducing a major uncertainty in the markets and bolstering U.S. fiscal credibility, this agreement is good for both the U.S. and the global economy.” Then he added “Raising the debt ceiling means a severe economic disruption has been avoided, and the accompanying deficit reduction deal is an important step toward fiscal consolidation.”
Economy: June US personal income coincided with the forecast of 0.1% compared with previous growth of 0.2%. June US personal spending fell by 0.1%, the first decline in the last 2 years. Analysts expected the figure remain unchanged (0.0%) after its rising by 0.1% in May.
Corporate news: Shares of NYSE Euronext (NYX) plunged 5% as the stock exchange operator posted a 19% drop in second-quarter profit, due in part to costs associated with its Deutsche Boerse merger.
General Motors (GM) reported July U.S. sales added 7.6% to 214,915 vehicles vs. expected +7%. On Tuesday shares of General Motors added 3.6%
Ford Motor (F) reported July U.S. sales advanced by 9% to 180,865 vehicles vs. expected +7.6%. On Tuesday shares of Ford Motor advanced by 4.1%.
Shares of MetroPCS Communications (CPS), the largest retailer in Germany, plunged 36.6% as the company’s Q2 profit rose at 306 million euros compared with 334 million euros a year earlier. Its Media-Saturn household electronics unit suffered in the first quarter the first loss in 20 years. EPS $0.24 vs. est. $0.29.
Shares of SM Energy Company (SM) went up by 9.5% as the company reported a massive 2Q beat on strong volumes/lower costs, upped 2011 guidance and established a big 2012 volume target. EPS $0.91 vs. est. $0.55. Production for 2012 expected to increase by 35%-40%.
Oil continues to get down Wednesday, although prices hold off the lows. The front-month WTI contract declined 37 cents to $93.42 per barrel, having touched a low at $93.10.
Nikkei -120.42 (-1.21%) 9,844.59
Topix -7.74 (-0.91%) 843.96
DAX -157.23 (-2.26%) 6,796.75
CAC -65.26 (-1.82%) 3,522.79
FTSE-100 -56.04 (-0.97%) 5,718.39
Dow -265.87 (-2.19%) 11,866.60
Nasdaq -75.37 (-2.75%) 2,669.24
S&P500 -32.89 (-2.56%) 1,254.05
10-Years 2.61% -0.14
Oil -0.58 (-0.62%) 93.19
Gold +19 (+1.16%) 1,664
Nikkei 9,833 -68.32 -0.69%
Hang Seng 22,420 -150.58 -0.67%
S&P/ASX 4,425 -39.13 -0.88%
Shanghai Composite 2,702 -7.05 -0.26%
A surprise drop in jobless claims suported the markets (398K vs. est. 425K and prev. 418K), but investors rare still worry about the impending debt ceiling deadline.
The majors trade without certain direction with the Nasdaq is pacing today's gains (+0.1%), while the S&P and Dow are holding some losses. Participants are now taking about pending home sales for June improved 2.4% month over month. The consensus among economists had actually called for a 3.0% slip.
EUR/USD $1.4350, $1.4400, $1.4500
EUR/JPY Y110.50
GBP/USD $1.6020
AUD/USD $1.1025
U.S. stocks were set to open little changed Wednesday, as investors worried about the impending debt ceiling deadline, and lawmakers showed little evidence they are moving closer to a deal.
On Thursday, the House will vote on the debt ceiling plan favored by Republicans. Even if the measure passes, it is expected to die in the Senate, and President Obama has threatened to veto it.
Economy: The Labor Department reported 398,000 Americans filed for initial unemployment benefits last week (the first time claims have dropped below 400,000 in more than three months). Economists had expected 415,000 claims.
Investors are also looking ahead to Friday's monthly GDP report. The government will report how much the economy expanded in the second quarter.
A survey of economists forecasts the economy grew only at a 1.8% annual rate in the second quarter, which would be a slight slowdown from the first quarter, when it grew 1.9%.
Companies: Oil producer Exxon Mobil (XOM, Fortune 500) reported earnings per share of $2.18, missing analyst estimates of $2.33 per share. Revenues came in at $125.4 billion, up from $92.5 billion over the same period last year. Shares dropped more than 1% in premarket trading.
Investors will also get results from MetLife (MET, Fortune 500) and Starbucks (SBUX, Fortune 500) after Thursday's closing bell.
Nikkei 9,901 -145.84 -1.45%
Hang Seng 22,515 -26.32 -0.12%
S&P/ASX 4,464 -73.59 -1.62%
Shanghai Composite 2,709 -14.71 -0.54%
EUR/USD $1.4350, $1.4400, $1.4500
EUR/JPY Y110.50
GBP/USD $1.6020
AUD/USD $1.1025
Gold $1600
Nikkei 10,047 -50.53 -0.50%
S&P/ASX 4,537 -35.93 -0.79%
Shanghai Composite 2,723 +20.47 +0.76%
S&P industry groups are trading mixed and mostly didn’t changed more than by 0.3%.
The led gainer is Technology sector (+0.7%) due to strong earnings reports and forecasts: Sanmina-SCI Corp. +22%, Lexmark International Inc.+17%, Sanmina-SCI Corp. And Broadcom Corp. +10%.
Conglomerats and Industrial Goods sustain the largest losses (-1.3% and -1.5% respectively)
U.S. stocks shed on debt ceiling debate, but are supported by a wave of corporate earnings: Broadcom +10%, Lexmark +20%.
EUR/USD $1.4450, $1.4430, $1.4400, $1.4350
USD/JPY Y77.75, Y78.10, Y78.75
GBP/USD $1.6000
AUD/USD $1.0900, $1.1100
USD/CAD C$0.9540
U.S. stocks were poised for a flat open Tuesday after President Obama's warning on the risk of a potentially devastating default.
Stocks started the week in the red Monday.
Economy: The Conference Board's July consumer confidence report and the Commerce Department's new home sales report, will be out at 14:00 GMT.
Economists expect that consumer confidence fell slightly in July. New home sales for June are expected to remain roughly unchanged at an annual rate of 320,000 units.
Companies: Ford (F, Fortune 500) reported better than expected quarterly net income of $2.4 billion, down 7% from a year earlier. Sales climbed 13% to $35.5 billion. Shares gained 2% in premarket trading.
Before the opening bell, BP (BP) reported earnings of $5.6 billion - a stark contrast to last year's second-quarter loss of $17.2 billion, when the company was struggling with the Gulf oil spill.
Delivery company UPS (UPS, Fortune 500) reported earnings per share of $1.05, beating expectations by one cent.
3M (MMM, Fortune 500) reported earnings per share of $1.60 per share, that in-line with forecasts. Shares dropped 3% in premarket trading.
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