Monday, January 10, 2011

Market Update: January 10th, 2011

Monday, January 10, 2011
Market Update: January 10th, 2011U.S. equity index futures are pointing toward a lower open as earnings season begins with the traditional release of Alcoa's Q4 earnings after the close of trading today, Oil futures are higher this morning after a leak along the Alaskan pipeline has forced the pipeline to shut down, cutting output by 95%.

European markets are trading lower as concerns over the sovereign debt crisis has returned on reports of Portugal possibly being forced to accept a bailout, Asian exchanges closed lower while Japanese markets were closed.

The US jobs report on Friday drove US markets lower and has had the same result in Asian markets Monday. US market futures are off across the board as of this report, more information will be forthcoming overnight and US markets will likely foot off the Asian close in about 5 hours.

0 comments

Friday, January 7, 2011

Market Update: January 7th, 2011

Friday, January 7, 2011
Market Update: January 7th, 2011Investors in the U.S. await the always-important report on unemployment this morning with the expectation being for a 150K rise although some are privately looking for even higher numbers especially after the very positive ADP report on Wednesday. Index futures are slightly lower this morning but in light trade as traders await the data. Markets in Asia closed mixed overnight while European exchanges trade lower on weaker-than-expected economic data. The Euro is reflecting that weakness and has once again dipped back below the 1.30 level.

Asian investors await US employment numbers tomorrow as their markets are mixed on low volume today. With a large component of Asian issues being manufacturers of components for electronics, the CES show and its draw are in focus today with Samsung revising estimates lower for their 4th quarter earnings guidance.

The US markets today closed on a mixed note on the news of a rise in jobless claims and reports of softer same store sales from US retailers. As mentioned here previously we look to consolidate our base here at 11,600 on the DOW to pause before our next leg up to DOW 12,000

0 comments

Thursday, January 6, 2011

Market Update: January 6th, 2011

Thursday, January 6, 2011
Market Update: January 6th, 2011U.S. equity index futures are pointing toward a higher open as optimism continues about the domestic economic recovery. Investors may be patient in their trade today as they await data from the Dept. of Labor tomorrow regarding unemployment. This morning they get another peek into the jobs picture as a report on jobless claims is due out at 8:30am ET.

European markets are rising after a factory order report out of Germany showed that demand was 5 times more than what had been expected. Overnight in Asia, most markets closed higher although the Shanghai Composite fell.

As predicted, the US markets hit new highs today on the heels of a pause yesterday on our way to sustaining DOW 11,600 support and then on to DOW 12,000. The Nikkei is up over 1% so far today, we caution that we are approaching overbought territory and it might be prudent to think about locking in some profits as this market might settle at 11,600 to finds its base for the next UPTREND leg, then look for new trends that are forming to maximize your profit potential. With several key economic indicators signaling strength in the US economy. Some winners today included NASDAQ:NVDA and NYSE:HOG.

0 comments

Wednesday, January 5, 2011

Market Update: January 5th, 2011

Wednesday, January 5, 2011
Market Update: January 5th, 2011Equity futures in the U.S. are pointing toward a lower open as commodities pull back and traders await a report from ADP on private sector employment. Crude oil and natural gas futures are lower while gold prices have stabilized and are trading slightly higher.

Copper is lower by 1.7%. Overnight, markets in Asia closed mostly lower while European exchanges are currently trading to the downside by moire than 1% as Greek bond spreads have widened to record levels.

Following a mixed day in the US markets, Asia at the time of this report is off nominally across all markets. US factory data came in worse than expected and caused a sell off in Commodities which is dragging the Asian markets down today.

0 comments

Tuesday, January 4, 2011

Market Update: January 4th, 2011

Tuesday, January 4, 2011
Market Update: January 4th, 2011Equity markets in the U.S. are looking to continue their strong start yesterday as futures point toward a higher open by about 40 points on the Dow and 4 points on the S&P as optimism on the economy becomes more widespread. Furthering the optimistic view is the price of copper, which is considered to be a barometer of industrial activity, hit a new high yesterday although looks to slightly pull back this this morning.

All Asian markets were back to trading overnight as closed higher. Across the pond, European markets are higher while London's FTSE paces gainers up 2% as it catches up after reopening for the first time this year. Oil and natural gas prices are higher also higher.

Asian markets are higher at the time of this report, following the first full trading day of 2011. The Shanghai and Hnag Seng are both up nicely at the time of this report. Following a successful day here with the US indices up across the board, US markets look forward to tomorrow's session to continue their moves towards DOW 12000. A few notable winners today include NYSE:BAC up 6% today and up over 14%.

0 comments

Monday, January 3, 2011

Market Update: January 3rd, 2011

Monday, January 3, 2011
Market Update: January 3rd, 2011Markets are poised to start the new year with a strong start as index futures in the U.S. are rallying. Dow futures are higher by nearly 70 points while S&P futures have climbed about 8 points. The week will be full of economic data starting with a survey of manufacturers (ISM) and a report on construction spending all due out at 10am. In overseas action, most Asian indices remained closed but the Hang Seng jumped over 1.7% in its first day of 2011 trade. In Europe, London id closed but all other major indices are trading sharply higher as economic optimism continues in 2011.

Although most Asian markets remain closed for holiday, Hong Kong's Hang Seng is kicking off 2011 with a strong start trading up over 1%. U.S. equity futures are also trading higher indicating an optimistic start to the new trading year.

U.S. traders and investors will have a lot of economic data to digest this week including the always-important nonfarm payroll data on Friday. Energy futures are higher in electronic trade while gold is trading slightly lower.

0 comments

Friday, December 31, 2010

Market Update: December 31, 2010

Friday, December 31, 2010
Market Update: December 31, 2010U.S. futures are trading flat to slightly lower pointing to another day of uninspired trade as equity markets look to close out 2010 with respectable gains. The Dow is up 11% for the year while the S&P is up almost 13%. Tech stocks led the way as the Nasdaq looks to finish 2010 with a more than 17% gain. Over in Asia, most indices were higher although Japan's Nikkei was closed.

China's Shanghai rose 1.8% Friday but ended the year down 14% as tightening policies kept stocks under pressure. Across the pond, London's FTSE and France's CAC 40 are trading lower and will close early today. Germany's DAX is closed today. Gold also looks to end the year on a high note trading near $1,413 per ounce.

U.S. futures are flat this evening as investors prepare for the final trading day of 2010. With no data on the calendar and with European markets already done for the year, little market activity is expected. In Asia, Japan's Nikkei and the Korean Kospi are closed while the Hang Seng, which is open only for the morning session, is trading slightly higher being led by property developers. Energy futures are trading modestly lower in the electronic session while gold is moving higher.

0 comments