TradeTheNews.com US market update

Thursday, 2 February 2012 11: 23: 40

DJIA + 4 S & P500 + 3 NDAQ + 3

B. economic data.
-(US) Jan ICSC chain store sales Y/y: No. est v 3.5% above
-(US) Jan Challenger job cuts Y/y: 38.9% V 30.6% before
-(USA) Feb RBC consumer Outlook index: 45.1 v 45.8 before
-(US) Q4 preliminary nonfarm productivity: 0.7% V 0.8%e; Labor Unit costs: 1.2% V 0.8%e
-(US) initial unemployment claims: 367 K V 371Ke; Further claims: 3.437 M V 3.535Me
-(US) Jan Empire manufacturing: 60.1 v 51,7 before
-(DK) Denmark Jan foreign currency reserves (DKK): 492.6B v 490.0B
-(US) per natural gas supplies: 132 Bcf V-125 Bcf up-130 Bcf expected range

-The mood in the market is one of the very cautious optimism this morning, thanks to some solid US data and a few strong U.S. earnings reports. January Empire manufacturing was index very strongly, with outstanding performances in new orders and employment component. First unemployment claims extends its gradual downward, increase the optimism of the future January non-farm payroll report. January of same-store sales were decent, with a few exceptions. Punxsutawney Phil saw six weeks of winter, which means that the negotiations will probably Greece with its creditors and may be very close or very far away from resolution, depending on you hear what official EU. Fed Chairman Bernanke clarified questions last week FOMC statement (and its new inflation targeting language) in testimony before the Congress. Bernanke would be warned that nobody should read in the directive as an indication of the Fed statement, price stability in the context of the mandate is not ready, dual, and stressed that the Fed is not actively looking to increase inflation. WTI crude oil prices continue to lower fell to $96 handle this morning plunge.

Insurance giant Allstate had a very good Q4, with bottom line profits far beat expectations thanks to a big step in the gross margin performance. Health insurance is up 5% after CIGNA offers missing baseline expectations and sub-par initial FY12 Guide. It is important to note that the company faced significant transaction costs in the quarter. Cardinal Health is also in the red, despite slightly better than expected Q2 results.

MasterCard satisfactory consensus expectations in its Q4 with strong double-digit y/y buy profits and transactions. On the Conference call, executives, said that strength continuing them in U.S. debit and commercial cards in the circulation enterprise in January see are. Shares of MA are a little to prevent nearly 7% this morning, V to 4% sympathy and AXP. Financial services company Ameriprise profits were disappointing because to make the same trends that have held back the entire asset management industry AMP. Shares of the AMP are almost 8%. The CME had a great quarter, higher goose but not it increase its quarterly dividend by 60%, help their shares. CME is + 4%, but the best levels.

How Exxon earlier in the week, Royal Dutch Shell Q4 results suffered from the collapse in natural gas prices and upstream gains from high oil prices were able to compensate for the large loss in downstream operations of the company. Refiner Tesoro was hard hit by crude oil prices in the quarter and reported a huge loss in the quarter. However, outstanding sales performance of the company to compensate for the bad results are, and TSO is almost flat after a volatile morning. Diamond offshore oil field-services name and National Oilwell Varco are both in the black on solid results in Q4.

-Tech name Qualcomm is more than 3% on solid outperformance in Q4 results and a hike in the FY12 Guide. IT services company CACI International expectations and also their FY12 forecast, and said that already half way through the FY12 equal his entire FY11 contract awards take it won.

How U.S. dealer on their desks this morning came, EU Juncker, commented that the agreed measures for the recent Jan 30th, the heads of State and heads of Government Summit were largely inadequate, and warned that Greek negotiations were extremely difficult. The comments on the weakness of the euro, the earlier comments from China Premier Wen told Europe followed stacked on its own resources to deal with the debt crisis. EUR/USD tested under 1.31 level to stabilize. The pair conducted as traders positioned testimony before Bernanke Congressional back through 1.3180 and nothing that he said has punctured the new strength of the euro.

** View **
-19: 15 (US) fed Fisher speaks in Austin, Texas
20: 00 (CN) China Jan non-manufacturing PMI: none est v 56.0 above
-21: 30 (CN) China Jan HSBC services PMI: none est v 52.5 above
 

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