Technical NotesOil Services ETF $OIH moved below $284.52 completing a double top pattern.AT&T an S&P 100 stock moved above $19.39 extending an intermediate uptrend. PayPal a NASDAQ 100 stock moved below $71.17 extending an intermediate downtrend. Cenovus a TSX 60 stock moved below $25.03 completing a double top pattern. Trader's CornerEquity Indices and Related ETFsDaily Seasonal/Tec...Read More
(In first sentence, corrects name to National Mining Agency,not National Mining Association) By Oliver Griffin BOGOTA, Dec 7 (Reuters) - Colombia is preparing tolaunch a national mining company, the president of thegovernment's National Mining Agency (ANM) said on Wednesday,adding that coal mining royalties during the year had more thandoubled. The government of President Gustavo Petro has pledge...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade. Index futures eased 3 points following release of revised third quarter U.S. Non-farm Productivity at 8:30 AM EST. Consensus was an increase of 0.7% versus a gain of 0.3% in the second quarter. Actual was an increase of 0.8%.Bank of Canada's interest rate to Canada's major banks to be r...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of the U.S October Trade Report at 8:30 AM EST. Consensus was a deficit of $79.90 billion versus a deficit of $73.30 billion in September. Actual was a deficit of $78.2 billion.The Canadian Dollar was virtually unchanged at U.S.73.41 c...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points in pre-opening trade.Broadcom slipped $0.80 to $540.00 after Susquehanna lowered its target price from $680 to $650.Lululemon added $0.03 to $386.02 after Stifel Nicolaus raised its target price from $400 to $450. Tractor Supply (TSCO $224.94) is expected to open higher after Wells Fargo raised its target pr...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 60 points in pre-opening trade.Index future moved strongly lower following release of the U.S. November Employment Report at 8:30 AM EST. Consensus for Non-farm Payrolls was an increase of 200,000 versus a gain of 261,000 in October. Actual was an increase of 263,000. Consensus for the November Unemployment Rate was 3...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 7:30 AM EST.October core PCE Price Index released at 8:30 AM EST is expected to increase 0.3% versus a gain of 0.5% in September. On a year-over-year basis, October core PCE Price Index is expected to increase 5.0 versus a gain of 5.1% in September. Snowflake $SNOW dropped $7.30 to $135.60 after the company of...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.Investors are focusing on a speech by Federal Reserve Chairman Powell scheduled at 1:30 PM ESTIndex futures dropped 5 points following release of revised real third quarter GDP at 8:30 AM EST showing growth at 2.9% versus previous growth at 2.6%.NetApp $NTAP dropped $7.79 to $64.00 after t...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.The Canadian Dollar slipped 0.15 to US73.92 cents following release of Canada's September real GDP report at 8:30 AM EST. Consensus for the third quarter was an annualized gain of 1.5% versus a gain of 3.3% in the second quarter. Actual was a gain of 2.9%.Bank of Nova Scotia (BNS.TO $71.46...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 31 points in pre-opening trade.Index futures responded to civil unrest in China due to increased COVID 19 restrictions. The Shanghai Composite Index dropped 23.14 to 3078.55. In response, Crude oil dropped $2.40 to $73.86 per barrel.Apple $APPL dropped $2.75 to $145.36 after lowering iPhones production expectations fr...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. U.S. equity markets close today at 1:00 PM EST.Peoples Bank of China has lowered its lending rate to major Chinese banks by 0.25%.Activision Blizzard dropped $2.59 to $74.00 on reports that the Federal Trade Commission may launch an anti-trust lawsuit against Microsoft's propose acquisiti...Read More
With U.S. equity markets on holidays today, no pre-opening comments are offered. Responses to FOMC Meeting Minutes Minutes were released at 2:00 PM EST yesterdayU.S. equity indices moved higher after 2:00 PM ESTU.S. Dollar and related ETN: UUP moved lower after 2:00 PM ESTLong term U.S. Treasury bond yields moved lower. Long term U.S. Treasury bond prices moved higher after 2:00 PM ESTGold p...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.Index futures were virtually unchanged following release of October Durable Goods Orders at 8:30 AM EST. Consensus was an increase of 0.5% versus a gain of 0.4% in September. Actual was an increase of 1.0%. Excluding transportation orders, consensus was an increase of 0.1% versus unchanged...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US74.60 cents following release of Canada's September Retail Sales report at 8:30 AM EST. Consensus was an decrease of 0.5% versus a gain of 0.7% in September. Actual was a decrease of 0.5%. Dell Computer $DELL advanced $1.83 to $42.90 after...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade.Walt Disney advanced $8.19 to $99.99 after Bob Iger was renamed Chief Executive Offices effective immediately. JM Smucker gained $1.60 to $146.14 after reporting higher than consensus fiscal third quarter revenues and earnings. The company also raised guidance for the current fiscal year...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 33 points in pre-opening trade.Today is the last trade date for November index and stock options and futures. Volume is expected to be higher than average. Gap Stores $GPS advanced $1.20 to $13.91 after reporting higher than consensus fiscal third quarter revenues. Palo Alto Networks $PANW jumped $8.88 to $165.44 after...Read More
(Corrects paragraph 4 to say Rio Tinto raised its offer twiceto C$43, not thrice to C$45. The error also appeared in the previous update of the story) By Melanie Burton MELBOURNE, Nov 18 (Reuters) - Rio Tinto Ltd said on Friday it would plough ahead with a $3.3 billion bid tobuy the 49% of Canada's Turquoise Hill Resources thatit does not already own, after it ended separate talks withdissenting...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points at 7:30 AM EST.U.S. equity index futures were waiting for economic news at 8:30 AM EST. October U.S. Housing Starts are expected to slip to 1.410 million units from 1.439 million units in September. November Philly Fed Index is expected to improve to -8.2 from -8.7 in October. Nvidia gained $2.10 to $161.20...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.Index futures improved slightly following release of the October U.S. Retail Sales report at 8:30 AM EST. Consensus was an increase of 0.8%. Actual was an increase of 1.3%. Excluding auto sales, October Retail Sales was expected to increase 0.4% versus a gain of 0.1% in September. Actual...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 77 points in pre-opening trade.Equity index futures moved higher following release of economic news at 8:30 AM EST. October Producer Price Index was expected to increase 0.4% versus a gain of 0.4% in September. Actual was an increase of 0.2% On a year-over-year basis October PPI was expected to increase 8.3% versus 8.5...Read More