11/24 U.S. stocks: Futures higher at the start of holiday-shortened week

Administrator - Monday, 24 November 2014 07:11

Economic Calendar:

Early Movers: UTX, VZ, TSLA, LGA, RNA & more

U.S. stocks: Futures higher at the start of holiday-shortened week
LONDON (MarketWatch) — U.S. stock futures advanced Monday in a holiday-shortened week, suggesting Wall Street is ready to build on its multi-week run of gains.
Futures for the Dow Jones Industrial Average DJZ4, +0.19%  rose 34 points, or 0.2%, to 17,814 and those for the S&P 500 index SPZ4, +0.20%  tacked on 4 points, or 0.2%, to 2,065.60. Futures for the Nasdaq 100 NDZ4, +0.29%  climbed 11 points, or 0.2%, to 4,259.25.

The economic calendar is light with just the Chicago Fed national activity index due at 8:30 a.m. Eastern Time. But later in the week, which will be interrupted by the Thanksgiving Day holiday, investors will receive a stack of updates on housing, inflation and a revision in third-quarter gross domestic product for the U.S.

11/23 U.S. economy on course for steady growth

Administrator - Sunday, 23 November 2014 01:40

U.S. economy on course for steady growth
Businesses, consumers increase spending, are more optimistic
WASHINGTON (MarketWatch)—The economy has zigged and zagged repeatedly since exiting recession in 2009, but now it finally appears to be charting a steady course forward.

The U.S. is no speedy cigar boat, though. The economy is advancing at a relatively modest pace that’s below its historical average and growth is unlikely to race ahead soon. A raft of reports, such as consumer spending and business investment, in a holiday-shortened week will probably show the economy sticking to its current bearings.

Even as investors look toward 2015, the government will offer another glance back at the economy’s performance in late summer and early fall.

ScreenHunter_322 Nov. 22 20.17

Economists polled by MarketWatch expect U.S. growth in the third quarter to be ratcheted down to still-healthy 3.3% from 3.5%. The reason: Exports and business investment in plants and offices were probably somewhat weaker than initially reported.

Yet the flip side is that consumer spending may have been a bit stronger and there’s no reason to expect a slowdown in the fourth quarter, especially with a steep drop in gasoline prices giving consumers the equivalent of a year-end bonus. That’s good news, since consumer outlays drive more than two-thirds of U.S. economic activity.

In October, consumer spending is forecast to rise a solid 0.3% even though household bills for utilities probably declined owing to Goldilocks-like weather—neither too hot nor too cold. Retail sales figures already show that households boosted spending last month at online sellers, sporting-goods stores and clothing outlets, among other things.

Just as important incomes likely rose in October for the 10th straight month, adding to evidence that wages are beginning to rise, albeit slowly, after hardly any change in the past four years. The biggest spate of hiring in at least a decade is causing labor shortages in some professions that’s spurring companies to offer higher wages as a lure.

“Finally, just maybe, labor compensation is starting to pick up,” said Ethan Harris, global economist at Bank of America/Merrill Lynch.


Businesses have also begun to spend more. Investment outside defense and the volatile transportation sector surged during the summer before a surprise dip in September that economists predict will prove short-lived. So-called core orders, a key component of the monthly report on durable goods, are expected to snap back in October.

What could potentially upset business plans is slowing growth in China as well as slumping economies in Japan and Europe—key markets for American exports. Investors will watch for clues in the durables report on whether weaker global growth is starting to weigh on the U.S. economy.

“The manufacturing sector would likely be the first place where the effects of slower global growth would creep into the U.S. economy, but thus far the factory sector has held up in the face of headwinds,” economists at Wells Fargo wrote.

So for now the coast seems clear through the end of the year. Inflation and interest rates remain low. Businesses are still expanding and hiring. And consumers’ spirits have been lifted by rising employment, record stock gains and plunging gasoline prices—indeed a pair of reports this week are likely to show the mood of Americans is the most hopeful since early 2007.


Marathon stock momentum, confidence flash caution


SAN FRANCISCO (MarketWatch) — Stock prices retain unusual momentum and investor confidence is high heading into a holiday-shortened week, but winded bulls may be ready for a rest, market observers say.

With the Federal Reserve no longer adding assets to its balance sheet, stocks raced to new highs after the European Central Bank and China kicked off new stimulus measures on Friday. The Dow Jones Industrial Average DJIA, +0.51%  and the S&P 500 Index SPX, +0.52%  both finished the week up 0.5%, while the Nasdaq Composite Index COMP, +0.24%  closed up 0.2%.

One remarkable — and perhaps, unnerving — thing about how stocks have been climbing lately has been the consistency of the climb. On each of the past 26 trading days, the S&P 500 has closed above its 5-day moving average. That matches the longest streak of closes above the 5-day average in the past 50 years, which was set in March 1986, according to data from Jonathan Krinsky, chief market technician at MKM Partners.

On Friday, the S&P 500 closed at a record 2,063.50. Its 5-day moving average is 2,051.62.

“Given the seasonal trends, and the seeming need for underinvested participants to play catch-up, it seems unlikely we would see what we saw in 1998 (-8% in two weeks),” Krinsky noted. “On the other hand, there continue to be plenty of cautionary flags that suggest upside in the next week or two is unlikely to be great.”

With volumes expected to taper off going into Thanksgiving week, average trading volume for November is just over 2% higher than it was this time last year, but slightly lower than this time in 2012 and 2011.

11/21 U.S. stocks book 5th-straight week of gains

Administrator - Friday, 21 November 2014 08:01

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ScreenHunter_17 Nov. 21 17.15

U.S. stocks book 5th-straight week of gains
NEW YORK (MarketWatch)—The U.S. stock market ended the week in rally mode Friday. Sparked by a surprise dose of liquidity measures launched by China’s central bank and dovish comments from European Central Bank President Mario Draghi on Friday, U.S. equities recorded their fifth-straight week of gains.

After timidly moving higher over the course of the past few trading sessions, more detailed talk of stimulus by economic world leaders at some of the biggest, and most sluggish, economies helped push stocks higher. Shares pulled back off their highs later in the trading day, as some of the initial unabashed elation wore off.

Still, the S&P 500 and Dow Jones Industrial Average registered its best one-day gains in more than two weeks and closed at record levels for the 45th and 28th times this year, respectively.

The S&P 500 SPX, +0.52%  closed 10.75 points, or 0.5% higher at 2,063.50, with broad-based gains led by materials and energy sector stocks. The benchmark index gained 1.2% over the week.

The Dow Jones Industrial Average DJIA, +0.51%  jumped 91.06 points, or 0.5%, to 17,810.06, and booked a 1% gain over the week.

The Nasdaq Composite COMP, +0.24%  rose 11 points, or 0.2%, to 4,712.97 and added 0.5% over the past five sessions.

J.J. Kinahan, chief derivatives strategist at TD Ameritrade, commenting on prices pulling back from even loftier levels speculated that the realization that today’s news from China and Europe was not all that good may be behind the fading of the rally.

“While in the short term, cutting rates and buying bonds by central banks is good for equities, the underlying reasons are not positive — those actions are a response to a slowing and weak demand. Their economies are in trouble,” said Kinahan.

“Also, the S&P 500 hit a resistance level at 2,071 and it’s not surprising to retrench a few times,” he added.

China’s central bank cut its one-year loan rate by 0.4 percentage points and its one-year deposit rate by 0.25 percentage points while saying it would allow more flexible deposit rates.

The ECB said it began buying asset-backed securities Friday, expanding its quantitative easing regimen.


[Most Recent Quotes from]

Gold, copper jump on central-bank news from China, Europe
China’s stimulus efforts seen lifting demand for industrial metals
NEW YORK (MarketWatch) — Gold prices climbed on Friday, reacting to dovish comments from European Central Bank President Mario Draghi and a surprise rate cut from China’s central bank.

Copper and other industrial metals also advanced as investors bet that China’s stimulus efforts will lead to more demand for those commodities from one of the world’s largest economies.

Gold for December delivery GCZ4, +0.81% settled at $1,197.70 an ounce, gaining $12.10 or 0.6% for the day. The contract traded above the $1,200 level that some traders watch closely, but wasn’t able to settle above that mark. December gold advanced 1% for the week. Meanwhile, December silver SIZ4, +1.91%  jumped 26 cents, or 1.6%, to settle at $16.40 an ounce, advancing 0.2% for the week.

“The world is now fully united in printing money and debasing currencies, a situation that cannot end well,” wrote Peter Hug, global trading director at Kitco Metals Inc., in emailed comments on Friday. He was referring to the latest developments in Europe and China. “Do the metals have downside risk, sure, but from a longer-term [perspective], these levels will prove inexpensive, when, not if, inflation grabs.”

High-grade copper for December delivery HGZ4, +0.45%  climbed by 1 cent, or 0.3%, to settle at $3.03 a pound, after also surrendering a larger intraday gain. The contract lost 0.7% for the week.


9:18am Bottom Play $ELRA .0009 Good News: Elray Gaming – Quarterly Update—quarterly-update-2014-11-21?mod=mw_share_twitter&n_play=546f4986e4b019f3e09e8a2a


Elray Resources Inc. (otcpk:ELRA) trading as Elray Gaming announced that as per its latest Quarterly Filing, Revenues are up by 50% on the last Quarter and Company Debt has been significantly reduced.
Brian Goodman, CEO stated that, “Whilst this year has been challenging, the Company is now making solid progress. The Casino Operations in Asia are performing well and our focus on increasing company revenues and reducing debt have shown excellent results. The Company has reduced its convertible debt by over 1.5 Million Dollars over the last few months and whilst the convertible debt has converted into equity the outlook for Elray is very positive and expectations are that business will continue to grow, new products will be launched, new relationships will be formed and revenues will continue to increase in the coming months.”


U.S. stocks: Futures rally on Chinese rate cuts, dovish Draghi
MADRID (MarketWatch) — A dovish European Central Bank President Mario Draghi and a rate cut from China’s central bank triggered a rally for stock futures on Friday, with the ground laid for another record-setting session for Wall Street.

Futures for the Dow Jones Industrial Average DJZ4, +0.59%  surged 114 points, or 0.6%, to 17,808, while those for the S&P 500 index SPZ4, +0.68%   jumped 28.75 points, or 0.6%, to 2,065.20. Futures for the Nasdaq-100 index NDZ4, +0.67%  rose 28.75 points, or 0.7%, to 4,274.

China’s central bank cut its one-year loan rate by 0.4 percentage points and its one-year deposit rate by 0.25 percentage points, and said it would allow more flexibility in deposit rates.

Ahead of that, Draghi said the central bank will do what it “must to raise inflation and inflation expectations as fast as possible,” at a banking conference in Frankfurt. The comments were taken as a sign the ECB will step-up asset buying.

Correction off the table for now: After China’s move, the majority of the world’s big central banks now have loose policies, while there’s growing consensus that the Fed and the Bank of England will hold off near-term tightening, said Benjamin Yip, senior analyst at Amplify Trading.

“In light of this, stocks have been bid for the majority of the morning session and apart from some de-risking of portfolios and balance sheets ahead of the weekend, we cannot see any reason for a major correction,” Yip said in a note.

On Thursday, the S&P 500 SPX, +0.20%  logged its 44th record close this year, though just a marginal 0.2% gain to 2,052.75. The Dow industrials DJIA, +0.19%  logged a 27th record close. Trading volumes were thin, something Goldman Sachs said investors should get used to in the coming year. See also: Crash-caller Schiff says Fed will cause the next one

Stocks to watch: Shares of Foot Locker Inc. FL, +2.37% rose 2% after the sports retailer‘s profit and sales beat estimates. Another sports retailer, Hibbett Sports Inc. HIBB, +3.03% jumped 4% after lifting its outlook. Ann Inc. ANN, -0.89%  will also report.

Gap Inc. GPS, -3.71%  could see premarket pressure, after results late Thursday missed Wall Street forecasts and the retailer delivered a disappointing full-year outlook.

Splunk Inc. SPLK, +8.10%  rose 8% after results topped analysts forecasts.

GameStop Corp. GME, -9.46%  fell 9% after a set of weak results and outlook late Thursday.

Wynn Resorts Ltd. WYNN, -1.21%  may take a hit in premarket trading, after The Wall Street Journal reported, citing sources, that the casino operator is being investigated by federal authorities over whether it broke money-laundering rules.

Europe rallies, euro hit: Europe got a big lift from Draghi’s comments and China, with the Stoxx 600 index SXXP, +1.60% up 1.7%, while the euro EURUSD, -0.93%  slid against the dollar. The yen USDJPY, -0.22%  rose against the dollar to around ¥117.83 after Japan Finance Minister Taro Aso said the yen decline had been “too fast.” The Nikkei 225 NIK, +0.33%  snapped a four-day losing streak, rising along with the yen.

Among other assets, gold GCZ4, +0.59%  and oil prices CLF5, +2.40%  were also higher.

11/20 U.S. stocks end higher; S&P 500, Dow at records

Administrator - Thursday, 20 November 2014 08:38

Biggest OTC % Gainers/OTC % Losers /Top OTC Volume Movers 11/20 close:

After-hours buzz: Gamestop, Hertz, Gap & more

Autodesk gained more than 3 percent in after-hours trade on the design software company’s fiscal third-quarter earnings, which reported an 11 percent increase in revenue from the same period a year ago.

Gamestop lost more than 12 percent in extended-hours trade after the video game retailer reported a slight decline in quarterly revenue, hurt by the delayed release of Assassin’s Creed Unity.

Marvell fell more than 2 percent in after-hours trade on news that the chipmaker posted lower-than-expected quarterly revenue because of weak demand for its chips.

Hertz gained nearly 2 percent in extended-hours trade after the car rental firm announced a new CEO, John Tague. He was preferred by activist investor Carl Icahn.

Splunk rose nearly 5 percent in after-hours trade after the data analytics software maker reported a 48 percent jump in quarterly revenue from the addition of 500 enterprise customers in the third quarter.

Gap fell nearly 5 percent in extended-hours trade after a 5.5 percent decline in U.S. sales caused the clothing retailer to miss revenue expectations and lower its full-year guidance.


ScreenHunter_319 Nov. 20 16.46

U.S. stocks end higher; S&P 500, Dow at records
NEW YORK (MarketWatch) — The U.S. stock market finished Thursday’s sleepy session amid low volumes slightly higher. Incremental gains on the S&P 500 and Dow Jones Industrial Average were enough for the indexes to notch new records. Action across sectors was more colorful, however. Gains in energy and technology sectors outweighed losses in healthcare and consumer staples sector stocks. Investors appeared to focus on positive earnings results from retailers such as Best Buy Co. and Urban Outfitters, while a rise in oil prices lifted energy stocks. Helping overall sentiment was a batch of data that pointed at continuing improvement in the economy. Small companies outperformed large companies, with the Russell 2000 adding 1.1% to 1,170.80. The S&P 500 SPX, +0.20% closed 4 points, or 0.2% higher at 2,052.76. The Dow Jones Industrial Average DJIA, +0.19% added 33.11 points, or 0.2%, to 17,718.84. The Nasdaq Composite COMP, +0.56% ended the day up 26.16 points, or 0.6%, at 4,701.87.


Gold rises as price drop tempts physical buyers


Gold rose on Thursday on data showing rising U.S. inflation, and after the previous day’s 1-percent drop triggered renewed physical interest by price-sensitive Asian buyers.
Bullion investors focused on U.S. Labor Department data which showed underlying inflation pressures rose in October, even though that also bolstered expectations of a mid-2015 interest rate hike from the Federal Reserve.

The gold market also ignored other data that showed a strengthening U.S. economy, including rising existing home sales and lower weekly jobless claims.

Bullion dropped on Wednesday after a poll showed weaker support among Swiss voters for a referendum proposal that would force the central bank to boost its gold reserves.

Dealers said appetite for physical gold among Asian buyers surged after prices fell to a low of $1,175 an ounce.

“We have certainly seen physical demand pick up on dips over the last couple of weeks after gold’s aggressive sell-off,” said David Meger, director of metals trading at brokerage Vision Financial Markets in Chicago.

ScreenHunter_320 Nov. 20 16.54

Spot gold was up 0.7 percent at $1,191.44 an ounce, while U.S. gold futures for December delivery settled down $3 an ounce at $1,190.90.

Earlier this month it slid to a 4-1/2 year low at $1,131.85.


‘Profits now, Apocalypse later’ as we head toward the chasing season
Critical intelligence before the U.S. market opens


U.S. consumer price index flat in October on lower energy costs
WASHINGTON (MarketWatch) – U.S. consumer prices were flat in October as plunging gasoline costs offset increases in housing, medical and airline fares, the government said Thursday. Economists polled by MarketWatch had forecast a 0.1% decline in the consumer price index. Energy prices dropped a seasonally adjusted 1.9% – the fourth straight decline – led by a 3% reduction in gasoline. Food prices rose 0.1%, the smallest gain in fourth months. The core CPI, which excludes volatile food and energy costs, rose by 0.2% last month. Americans are paying more for housing, especially rent, while costs also increased last month for household furnishings, airline tickets and medical care, including prescription drugs. Consumer prices have risen an unadjusted 1.7% over the past 12 months, slightly below the annual average over the past decade. Real or inflation-adjusted hourly wages, meanwhile, rose by 0.1% in October. Real wages are up just 0.4% in the past 12 months, though weekly wages have risen a stronger 0.9% because people are working longer hours.


U.S. weekly jobless claims little changed at 291,000
WASHINGTON (MarketWatch) – The number of people who applied for new unemployment benefits totaled fewer than 300,000 for the 10th straight week, reflecting the low level of layoffs in the U.S. economy as growth gradually picks up. Initial jobless claims fell by 2,000 to a seasonally adjusted 291,000 in the week ended Nov. 15, the Labor Department said Thursday. Economists surveyed by MarketWatch had expected claims to total around 280,000. The level of claims from two weeks ago was revised up to 293,000 from 290,000. Over the past month, meanwhile, the average of new claims rose by 1,750 to 287,500. The four-week average reduces seasonal volatility in the weekly data and is seen as a more accurate barometer of labor-market trends. Also, Labor said continuing claims decreased by 73,000 to a seasonally adjusted 2.33 million in the week ended Nov. 8. Continuing claims reflect the number of people already receiving benefits.


U.S. stocks: Futures fall as global data disappoints; consumer prices loom


MADRID (MarketWatch) — Stock futures fell Thursday after a batch of weak economic indicators from Europe and China, with the U.S. also set for a big day of data on manufacturing, consumer prices and existing-home sales.

“The market is consolidating at the higher end of this range, which is obviously at records, but basically it’s pretty good considering the runup we’ve had,” said Peter Cardillo, chief market economist at Rockwell Global Capital.

Futures for the Dow Jones Industrial Average DJZ4, -0.36%  dropped 71 points, or 0.4%, to 17,586, while those for the S&P 500 SPZ4, -0.38%  fell 9.6 points, or 0.5%, to 2,039.90. Futures for the Nasdaq-100 index NDZ4, -0.34%  slid nearly 20 points, or 0.5%, to 4,204.25.

Markit reported that the flash November reading for the composite purchasing managers index in the eurozone dropped to 51.4, its lowest level in 16 months. After the release, European stocks SXXP, -0.62%  tumbled, as did the euro EURUSD, -0.31%  versus the dollar.

The data confirms that the eurozone is still in rough shape. Germany’s own November preliminary manufacturing survey came in at 50.0, versus an expected 51.5. Stock futures were also dealing with weakness in a similar gauge out of China, which showed factory activity declined in November, after gaining in the prior month. PMI data out of Japan was also weak.

11/19 After-hours buzz: Salesforce, Williams-Sonoma & more

Administrator - Wednesday, 19 November 2014 04:13

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Active Options 11/19

After-hours buzz: Salesforce, Williams-Sonoma & more

Caesars Entertainment – The casino operator jumped in after-hours trading after Bloomberg News reported it had pitched a strategy to restructure the debt of its biggest unit to a real estate investment trust.

Datawatch – The distributor of business software products sank in after-hours trading after releasing its fiscal fourth-quarter results.

Keurig Green Mountain – The maker of single-cup brewing systems fell after reporting a fourth-quarter profit.

L Brands – The owner of Victoria’s Secret and other chain stores edged lower in after-hours trading after issuing weak fourth-quarter guidance. – The provider of cloud-computing services reported third-quarter earnings per share of 14 cents on $1.38 billion in revenue, versus expected EPS of 13 cents on $1.37 billion in sales. Its shares fell in after-hours trading on the company’s weak outlook.

Williams-Sonoma – The home-products retailer rallied in after-hours trading after posting strong third-quarter results.


ScreenHunter_08 Nov. 19 16.16

S&P 500 snaps 4-day run
NEW YORK (MarketWatch) — The U.S. stock market rocked back and forth in the wake of the latest minutes from the last month’s meeting of the Federal Open Market Committee, but closed marginally lower on Wednesday. After the initial positive jolt, market reaction was muted, as Fed minutes revealed nothing new. There was no additional clarity about when interest rates would be hiked, as is expected next year. The S&P 500 SPX, -0.15% closed 3.1 points lower at 2,048.72. The Dow Jones Industrial Average DJIA, -0.01% lost 2.1 points to 17,685.73. The Nasdaq Composite COMP, -0.57% finished down 26.73 points, or 0.6%, at 4,675.71.


U.S. still in early stage of growth cycle, Goldman economist says


WASHINGTON (MarketWatch) — With the U.S. having added 200,000 jobs each month for the last nine, it’s worth asking just how much juice is left in the current economic recovery.

To Goldman economist Kris Dawsey, the answer is: plenty.

He looked at 15 economic variables and classified them as early-cycle, mid-cycle, late-cycle and recession.

“We update our model and still find that ‘early-cycle’ is the best characterization, although we are quickly coming up on ‘mid-cycle,’ ” he said.

Dawsey noted that activity data continues to signal a solid pace of expansion, inflation data have softened, financial markets seem slightly less complacent, and job openings are somewhat elevated relative to the number of unemployed.

He says there’s only a 16% chance the U.S. economy enters the late cycle, or a recessionary phase, in the next six months.


ScreenHunter_09 Nov. 19 16.27

Spot gold down in volatile trade after Fed minutes
Gold prices whipsawed after policy-makers decided to keep its wording on the timing of any interest rate hikes out of concern that a change could be misinterpreted by financial markets.

Spot gold was last down 0.6 percent at $1,191 an ounce, after hitting a high of $1,202.30 earlier. U.S. gold futures for December delivery settled $3.20 lower at $1,193.90 an ounce.

Minutes of the Fed’s Oct. 28-29 meeting show that Fed officials renewed a debate from their September meeting about whether they should alter language they have used since the spring that they expected to keep a key short-term interest rate low for a “considerable time” after halting monthly bond purchases.

The Fed did decide at the October meeting that the economy had improved enough to halt the bond purchases but they kept the “considerable time” language because of worries that removing it would be misinterpreted.

The Fed’s first rate hike is currently not expected to occur until mid-2105.

24 hour GOLD Spot Price

Weekly Watch List

NASDAQ4712.97  chart+11.102  chart +0.24%

S&P 5002063.50  chart+10.75  chart +0.52%

SPY206.68  chart+1.10  chart +0.54%

GLD115.39  chart+0.53  chart +0.46%

^VIX12.90  chart-0.68  chart -5.01%

ELRA0.0008  chart-0.0001  chart -11.11%

CIHN0.0024  chart+0.0005  chart +26.32%

JNSH0.0189  chart+0.0021  chart +12.50%

SRNA0.3988  chart-0.0013  chart -0.32%

SIMH0.018  chart-0.0004  chart -2.17%

TXHE0.0009  chart0.00  chart +0.00%

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