U.S. equity index futures were higher this morning. S&P 500 futures were up 29 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for the June Empire State Manufacturing Survey was unchanged versus a drop of 11.60 in May. Actual was a drop of 1.2. Consensus for May Retail Sales was an increase of 0.1% versus a gain of...Read More
(Corrects to "largest" from "only" processor in secondparagraph) By Praveen Menon and Riya Sharma June 14 (Reuters) - Australia's Lynas Rare Earths has signed a $120 million follow-on contract with the U.S.Department of Defense to build a commercial heavy rare earthsseparation facility in Texas, the firm said on Tuesday. Lynas is the world's largest processor of rare earthsouts...Read More
U.S. equity index futures were higher this morning. S&P 500 futures advanced 20 points in pre-opening trade. Index futures moved slightly higher following release of the May Producer Price Index at 8:30 AM EDT. PPI was expected to increase 0.8% versus a gain of 0.5% in April. Actual was an increase of 0.8%. On a year-over-year basis, May Producer Price Index was expected to increase 10.9% vers...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 82 points in pre-opening trade.World equity indices moved lower this morning in response to continued strength in the U.S. Dollar. Indices are responding to anticipation of tightening U.S. monetary policy to be announced by the Federal Reserve on Wednesday. The Canadian Dollar dropped another 0.47 to US77.75 cents.BP...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 44 points in pre-opening trade.U.S. equity index futures moved lower following release of the May Consumer Price Index at 8:30 AM EDT. May U.S. Consumer Price Index to be released at 8:30 AM EDT on Friday was expected to increase 0.7% versus a gain of 0.3% in April. Actual was an increase of 1.0%. On a year-over-year...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points at 7:30 AM EDT The European Central Bank is scheduled to update its monetary policy this morning at 7:45 AM EDT. It is expected to end its simulating monetary policy.Tesla advanced $26.25 to $751.82 after UBS upgraded the stock to Buy.Target gained $1.64 to $158.34 after the company announced a 20% increase i...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade.Novavax jumped $9.96 to $57.50 after the FDA Advisory Group voted to recommend the company's COVID 19 vaccine.Scotts Miracle Grow plunged $13.86 to $88.32 after issuing a profit warning. Campbell Soup added $1.70 to $48.30 after reporting higher than consensus fiscal third quarter revenu...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.Target Stores dropped $12.78 to $146.89 after the company cut its profit estimate for the second quarter. JM Smucker fell $3.76 to $119.50 after lowering its fiscal first quarter guidance. McKesson added $2.41 to $320.20 after Deutsche Bank upgraded its rating from Hold to Buy.Amerisourc...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 43 points in pre-opening trade.Amazon added $1.79 to $124.14 following a 20 for 1 stock split effective today. Spotify added $5.22 to $117.45 after Raymond James upgraded the stock from Market Perform to Outperform.Ryder System added $0.64 to $82.24 after Stifel Nicolaus raised its target price from $80 to $90. Eq...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 20 points in pre-opening trade. Index futures recovered slightly following release of the U.S. May Employment Report at 8:30 AM EDT. May Non-farm Payrolls were expected to drop to 310,000 jobs from 428,000 jobs in April. Actual was 390,000 jobs. May Unemployment Rate was expected to remain at 3.6% set in April. Actual...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points at 7:30 AM EDT.April Factory Orders to be released at 10:00 AM EDT are expected to increase 0.8% versus a gain of 1.8% in March. Chewy $CHWY gained $4.56 to $28.10 after reporting higher than consensus quarterly revenues and earnings. Hewlett Packard Enterprises $HPE dropped $1.08 to $14.70 after reporting lo...Read More
(Adds Southern Copper statement confirming fire) By Marcelo Rochabrun LIMA, June 1 (Reuters) - Southern Copper Corp saidthat a fire broke out at its Los Chancas mining project onTuesday evening, at around the same time as another fire startedat MMG Ltd's Las Bambas copper mine, sources said,amid intensified protests against mines in recent months. Communities in Peru, the world's No. 2 copper prod...Read More
U.S equity index futures were higher this morning. S&P 500 futures were up 17 points in pre-opening trade.Investors are awaiting U.S. economic news to be released at 10:00 AM EDT. Consensus for April Construction Spending was an increase of 0.5% versus a gain of 0.1% in March. Consensus for the May Manufacturing ISM Purchasing Managers Index is a slip to 54.5 from 55.4 in April.Investors also...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 30 points in pre-opening trade. Investors are watching for news from a meeting today between President Biden, Federal Reserve Chairman Powell and Treasury Secretary Yellen. The Canadian Dollar slipped 0.10 to US78.83 cents following release of Canada's March GDP report at 8:30 AM EDT. Consensus was an increase of 0.8%...Read More
Technical evidence that North American equity indices have passed an intermediate low appeared last week. Look for a bottoming process between now and the next FOMC meeting on June 14th-15th. ObservationsConsensus earnings estimates for S&P 500 companies on a year-over-year basis in the first quarter of 2022 virtually were unchanged last week. Ninety seven percent of companies have report...Read More
Next Tech Talk report is to be released on Monday May 30th despite the U.S. holidayPre-opening Comments for Friday May 27thU.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Index futures moved slightly higher following release of April Personal income and April Personal Spending at 8:30 AM EDT. Consensus for April Personal Income was an...Read More
U.S. equity index futures at 7:30 AM EDT were higher. S&P 500 futures were up 30 points in pre-opening trade.Canada's March Retail Sales report is released at 8:30 AM EDT. Consensus is an increase of 1.4% versus a gain of 0.1% in February.NVIDIA dropped $12.75 to $157.00 after the company offered second quarter guidance below consensus.Snowflake plunged $17.77 to $115.00 after reporting lower...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mainly weaker on the morning of Thursday May 26 amid a lack of direction.• More central banks are tightening monetary policy; South Korea is the latest• Japan’s services producer price index climbed 1.7% in April, after a 1.3% rise in MarchBase metalsThree-month base metals prices on the LME - wit...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 20 points in pre-opening trade.Index futures were virtually unchanged following release of the April Durable Goods Orders report at 8:30 EDT. Consensus was an increase of 0.7% versus a gain of 0.8% in March. Actual was an increase of 0.6%. Excluding transportation orders, consensus for April Durable Goods Orders was a...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 46 points in pre-opening trade. Zoom gained $4.21 to $93.54 after first quarter results beat consensus estimates. The company also offered positive second quarter guidance. Best Buy added $3.41 to $76.00 after reporting higher than consensus first quarter revenues. Snap plunged $6.96 to $15.51 after the company lowere...Read More