The U.S. Market Update: QE addicts send shares higher rate before FOMC
By sending more dependent correction EQ before FOMC
Dow Jones S & P 500, NASDAQ 109 31 9.3
Economic data ******
- (USA) of the FCT / GS weekly sales of chain stores w / e 16th June: 0.0% w / w, 3.6% y / y
- (PL) Poland May Jobs M / M: 0.0% v 0.0% e, A / C: 0.3% and 0.3% v
- (PL) Poland Wages May means of M / M: -2.7% -2.5% ev A / C: 3.8% 4.0% ve
- (United States) May Starts: v 722Ke 708k, Building Permits: 780K 730K V
- (CA) Canada in April large M / M: 1.5% 0.2% ve
- (IS) Israel in May, the first "S" indicator M / M: 0.2% v 0.2% prior
- (USA) Redbook retail w / e 16th June: 2.5% y / y in May BAT: 0.5%
- (EU) foreign exchange reserves of the ECB this week before 226.9B 225.0B v
- (U.S.) jobs in April shocks: M v 3.685Me
- (EU) EFSF sold 1.466B vs. calculations 1.5b indicates 0.1421% 6 months 0.2033% average annual return before v; offers start to finish: 2.1xv 2.5 times before
- (EU) ECB drains 210.5B 210.5B vs. white deposit
The European and American markets are strong gains this morning, as traders expect the FOMC decision tomorrow and the convenience of the probable formation of a government in Greece. New Democratic Party of Greece seems to have a coalition government brought together with another party PASOK and the Left, as with PM Samaras. Overall, the analysts expect the Fed to some form of quantitative easing (QE3) to implement in the session, either by expanding its balance sheet and / or extension of its operating budget. In Europe, opened in the German ZEW survey, the lowest door to rate cuts by the ECB and the softer UK CPI data increases the chances of a rate cut by the Bank of England and QE. In addition to these positive catalysts, housing and construction starts report could help was very good. Residential construction has fallen slightly from tip of 3-1/2 years in April, while approvals have risen sharply, reflecting a nascent recovery in residential construction in progress.
- FedEx, more or less the profit and revenue expectations in its Q4 report, however, expectations for Q1 FY13 and were decidedly disappointing. In addition, the company's operating margin suffered a very strong y / y comp, after several quarters of comp easy comparison. U.S. and international packages daily volume fell last year. Management increased its cost reduction plans. In the press conference said the leader of the European company is very well despite the crisis. FDX is 3%, after losing about 2% in premarket trading.
- Oracle announced its results for the fourth quarter, 3 days earlier than planned after the revelation yesterday's stronger-than-expected quarterly results. The early release came after the news of the imminent departure raises the senior sales concern that the company was stagnating. Note that the firm Q1 earnings guidance was a little soft, while no recovery of the recipe for company material in the first quarter. ORCL part is 3%.
- Walgreen shares are 6% after the company acquired a 45% stake in Alliance Boots, based in Switzerland in a $ 6.7 billion in cash and stock. The purchase represents the first foray of international society, and Walgreen have the opportunity to the rest of Alliance Boots to buy in three years. The company said its Q3 profit first news of the offer, including a 6.6% decline in sales thanks to a terrific compositions by March / April sales development. The company increased its dividend by 22%.
- Discover are financial products and Q2 revenues above expectations, but the benefits of Ay / y basis has been reduced. The results included an ominous sign: see increased its reserves for credit losses by a significant amount. Sales of both cards and transaction volumes have been by healthy margins. DFS shares are 1% in the markets.
- Shares of Microsoft rose by almost 4% this morning after the company tender opening tablet computer. The reactions to the Microsoft Surface device were different: Analysts agree that the specifications of the device are impressive, but few expect the tablet to much dent in the huge advantages of making iPad. In addition, the unit's success could relate to individual users and companies to embrace Windows 8 and radical rethinking of the Windows interface.
Looking ahead ******
- (FI) Finland Parliament votes on the European Stability Mechanism (ESM)
- (U.S.) Diamond convinced JP Morgan
- (MX) G-20 Leaders' Summit in Los Cabos, Mexico
- 11.30 (U.S.) Treasury to sell $ 30 billion in Letters of 4 weeks
- 16.30 (U.S.) API weekly crude inventories
- 17:00 (CO) in Colombia in April trade balance: It is not $ 10, before the basis, imports cif F: No's. V $ 4900000000 before
- 18.50 clock (JP) Balance of trade in goods from Japan in May:-v-522.0B prior 544.4Be WO-v-347.7Be 480.2Be
- 18.50 clock (JP) BoJ minutes
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