Friday, October 28, 2011

Barchart Morning Call 10/28

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are mixed with the Euro Stoxx 50 up +0.14% and Dec S&Ps down -5.80 points. The dollar is stronger and commodities are mixed as stocks digest yesterday's sharp gains. Klaus Regling, the CEO of the European Financial Stability Facility, flew to Beijing to persuade China to contribute to the bailout fund, while Greek Prime Minister Papandreou said the agreement by European leaders to craft a second aid package for his nation gives the country time to fix its finances. With Greece's debt worries put on the back burner for the time being, the focus now falls on Italy which has to repay 298 billion euros of debt next year, more than Spain, France or any other Euro-Zone member. Stock prices were undercut after the Italian 10-year bond yield jumped 17 bp when the country sold 7.93 billion euros of bonds, less than the 8.5 billion-euro maximum target, as Prime Minister Berlusconi vowed to boost economic growth and cut debt. Weak consumer spending in France also pressured stocks after the Sep French consumer spending unexpectedly fell -0.5% m/m and -1.3% y/y, weaker than expectations of unchanged m/m and -0.7% y/y.
  • Asian stocks today closed higher with Japan up +1.39%, China +1.94%, Australia +0.12%, South Korea +0.51%, India +2.98%. Asian stock markets rallied on the heels of the European debt accord along with the 2.5% annualized growth rate in U.S. GDP. The yen held near its post WWII high despite comments from Japanese Finance Minister Azumi who said he will take "bold" action against the strong yen if needed. The BOJ cut its economic growth forecast to 2.2% for the year starting Apr 2012 from a July forecast of 2.9%. Japanese stocks received a lift from an unexpected fall in the Japanese unemployment rate when the Sep Japan jobless rate fell -0.2 to 4.1%, better than expectations of a +0.2 gain to 4.5% and the lowest in 2-3/4 years. Stock gains were limited however, after Sep Japan industrial production fell -4.0% m/m and -4.0% y/y, weaker than expectations of -2.8% m/m and -2.8% y/y.
Overnight U.S. Stock News
  • December S&Ps this morning are trading down -5.80 points. The US stock market yesterday settled sharply higher after European leaders reached an accord on the region's debt crisis and after U.S. economic growth expanded at its fastest pace in a year: Dow Jones +2.86%, S&P 500 +3.43%, Nasdaq Composite +3.32%. The S&P 500 posted a 2-3/4 month high and the Dow and Nasdaq posted 3-month highs. Bullish factors included (1) a surge in bank stocks after European leaders agreed to expand the EFSF to $1.4 trillion, recapitalize banks and prompt bondholders to accept a 50% haircut on Greek debt as part of an agreement to stem the region's debt crisis, (2) the +2.5% annualized increase in Q3 U.S. GDP, as expected, but the fastest pace of growth in a year as Q3 personal consumption rose +2.4%, greater than expectations of +1.9%, (3) the larger-than-expected decline in weekly U.S. continuing claims to their lowest level in 3 years (-96,000 to 3.645 million versus expectations of -19,000 to 3.700 million), and (4) reduced price pressures after the smaller-than-expected increase in Q3 core PCE (+2.1% versus expectations of +2.2%).
  • Bearish factors included (1) the weaker-than-expected Sep U.S. pending home sales (-4.6% m/m and +7.9% y/y versus expectations of +0.3% m/m and +11.8% y/y) and (2) concern that consumer spending may slow because U.S. incomes aren't keeping up with price increases after Q3 after-tax income adjusted for inflation fell -1.7% y/y, the biggest drop in 2 years.
Today's Market Focus
  • December 10-year T-notes this morning are up +8 ticks. T-note prices yesterday fell to a 2-1/2 month low on reduced safe-haven demand as global stocks rallied sharply when European leaders reached an accord on the region's debt crisis: TYZ11 -1-8.5, FVZ11 -16.7, EDH12 +5.5. Bearish factors included (1) the action by EU leaders to expand the EFSF to $1.4 trillion, recapitalize banks and prompt bondholders to accept a 50% haircut on Greek debt as part of an agreement to stem the region's debt crisis, (2) the larger-than-expected decline in weekly U.S. continuing claims to their lowest level in 3 years (-96,000 to 3.645 million versus expectations of -19,000 to 3.700 million), (3) the +2.4% increase in Q3 personal consumption, greater than expectations of +1.9%, and (4) weak demand for the Treasury's $29 billion 7-year T-note auction that had a bid-to-cover ratio of 2.59, well below the 12-auction average of 2.83. Bullish factors included (1) the smaller-than-expected increase in Q3 core PCE (+2.1% versus expectations of +2.2%) and (2) the weaker-than-expected Sep U.S. pending home sales (-4.6% m/m and +7.9% y/y versus expectations of +0.3% m/m and +11.8% y/y).
  • The dollar index this morning is higher with the dollar/yen -0.18 yen and the euro/dollar -0.13 cents. The dollar index yesterday plummeted to a 1-1/2 month low as the euro surged after European leaders agreed to an expansion of a rescue fund for indebted nations and reached an accord with lenders on writedowns of Greek debt: Dollar Index -1.367, USDJPY -0.216, EURUSD +0.02826. The yen posted to a new post WWII high of 75.66 yen per dollar. Bearish factors included (1) the surge in the euro to a 7-week high against the dollar after European leaders agreed to expand the EFSF to $1.4 trillion, recapitalize banks and prompt bondholders to accept a 50% haircut on Greek debt as part of an agreement to stem the region's debt crisis, (2) reduced safe-haven demand for the dollar as global equity markets rallied sharply, and (3) the rally in the yen to an all-time high of 75.66 against the dollar on concern the BOJ's action to expanded its credit and asset-purchase programs to a total of 55 trillion yen ($724 billion) from 50 trillion yen will be insufficient to stem the yen's rise. Bullish factors included (1) the slide in Oct Euro-Zone economic confidence to a 1-3/4 year low, which is euro negative, and (2) the as-expected +2.5% annualized Q3 U.S. GDP, the fastest pace of growth in a year, which may keep the Fed from expanding its stimulus measures.
  • Dec crude oil prices this morning are down -$1.32 a barrel and Dec gasoline is -2.28 cents per gallon. Crude oil and gasoline prices yesterday finished sharply higher as European leaders reached a deal to contain the region's debt crisis and as U.S. economic growth expanded at its fastest pace in a year: CLZ11 +$3.76, RBZ11 +8.19. Dec gasoline posted a 1-week high. Bullish factors included (1) the slump in the dollar index to a 1-1/2 month low, which encourages investment demand in commodities, (2) the action by European leaders to reach an accord on how to stem the region's debt crisis, which may boost economic optimism and energy demand, (3) Q3 U.S. GDP of +2.5% annualized, the fastest rate of growth in a year and is positive for fuel demand and consumption, and (4) the prediction from the top commodity analyst of Bank of America that crude oil prices may reach a "pain point" of $130 to $140 a barrel as a third round of quantitative easing weakens the dollar. Bearish factors included (1) the slide in Oct Euro-Zone economic confidence to a 1-3/4 year low and (2) the unexpected decline in Sep U.S. pending home sales, which indicates continued weakness in the U.S. housing market that may limit economic growth and energy demand.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): CVX-Chevron (BEST earnings consensus $3.47), MRK-Merck (0.91), NEM-Newmont Mining (1.24), D-Dominion Resources (0.93), BIIB-Biogen Idec (1.53), SCCO-Southern Copper (0.78), LYB-LyondellBasell Industries NV (1.20), AON-AON Corp. (0.72), CI-Cigna (1.23), WY-Weyerhaeuser (0.11), DTE-DTE Energy (1.00), COL-Rockwell Collins (1.14), ITT-ITT Corp. (1.16), BWA-BorgWarner (1.14), CEG-Constellation Energy Group (0.79), EEP-Enbridge Energy Partners LP (0.39).
Global Financial Calendar
Friday 10/28/11
United States
0830 ET Q3 employment cost index expected +0.6%, Q2 +0.7%.
0830 ET Sep personal spending expected +0.6%, Aug +0.2%. Sep personal income expected +0.3%, Aug -0.1%. Sep PCE deflator expected +3.0% y/y, Aug +2.9% y/y. Sep PCE core deflator expected +0.1% m/m and +1.7% y/y, Aug +0.1% m/m and +1.6% y/y.
0955 ET Final Oct U.S. University of Michigan consumer confidence expected +0.5 to 58.0, previous -1.9 to 57.5.
Japan
0000 ET Sep Japan vehicle production, Aug +1.8% y/y.
France
0245 ET Sep French consumer spending expected unchanged m/m and -0.7% y/y, Aug +0.2% m/m and +0.3% y/y.

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Chevron - CVX - Barchart Chart of the Day

Barchart.coms Chart of the Day - Chevron (CVX)
Related Stocks
CVX - Chevron Corp.
Sym Last Chg Pct
CVX 109.26 +2.49 +2.33%
The "Chart of the Day" is Chevron (CVX), which showed up on Thursday's Barchart "All Time High" list and on the "Gap Up" list. Chevron on Thursday gapped up to a new all-time high of $110.01 and closed 2.33% higher. TrendSpotter has been Long since Oct 14 at $100.47. Chevron reports earnings Friday morning before the open. Chevron on Thursday announced natural gas discoveries offshore from Western Australia in the Carnarvon Basin. Chevron on Wednesday raised its quarterly dividend by 3.8% to 81 cents. Chevron, with a market cap of $209 billion, is the fifth-largest integrated energy company in the world.

cvx_700

How we found the Chart of the Day:

We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Buy
  • Short-Term Indicators: 80% Buy
  • Medium-Term Indicators: 50% Buy
  • Long-Term Indicators: 33% Buy
  • Overall Average 64% Buy


Barchart links for further information:

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Quote
Detailed Quote
Chart

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Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual


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Thursday, October 27, 2011

Ford

COMPLETE ARTICLE AND GRAPHS

Ford (F) keeps on beating estimates and this quarter it again beat estimates of earnings by about 2 cents a share.  I like stocks that under promise and over deliver.  Consumers seem to be attracted to the new product line of smaller but well equipped offerings and investors seem to like the new meaner, more agile Ford company.  As usual there are no secrets on Wall Street and the stock moved upward well ahead of its earnings release on 10/26 as this hourly price graph provided by Barchart illustrates.  The stock has been moving up daily since October 4th:




Barchart technical indicators:

  • Barchart's technical indicators use various technical signals ranging from 7 day to 6 months to determine a stock's price trend.
  • 60% Barchart short term technical buy signal -- the sell signals still in place are beginning to weaken.
  • Trend Spotter technical buy signal.
  • Traded recently above its 20, 50 and 100 day moving average.
  • Although the stock made 10 advances and is trading up 19.57% in the last month it is still trading around 36.22% below its 1 year high.
  • The Relative Strength Index is 31.50% and rising.
  • Barchart computes a technical support level at 11.45.
  • Recently traded at 12.10 with a 50 day moving average of 10.71.

Summary:  Don't expect Ford (F) to turn around over night; it takes time for a battleship the size of Ford to reverse itself.  Short term traders may make some quick money but long term investors who are willing to wait may see annual returns in the 20% - 24% annual total return range over the next 5 years.  The 2 best factors in my book at a 36.22% discount form its 1 year high and a 5.8 P/E ratio.  Quite a bargain.

Jim Van Meerten is a Marketocracy Master


Barchart Morning Call 10/27

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are soaring with the Euro Stoxx 50 up +2.63% and Dec S&Ps up +25.60 points, both at 2-1/2 month highs. Treasuries tumbled and commodities gained, with copper at a 1-month high after European leaders agreed to expand a bailout fund to stem the region's debt crisis. The euro surged to a 1-1/2 month high against the dollar and the cost of credit default swaps to insure European government debt fell to a 7-week low after last-ditch talks led European leaders to expand the rescue fund's capacity to 1 trillion euros ($1.4 trillion) and for bondholders to accept 50% writedowns on their holdings of Greek debt. European leaders also struck a bank-recapitulation accord, setting a Jun 30 2012 deadline for lenders to reach core capital reserves of 9% after writing down their sovereign-debt holdings. Banks below that target would face "constraints" on paying dividends and giving out bonuses. Bank stocks surged with BNP Paribas SA, France's biggest bank, and Deutsche Bank AG, Germany's largest, up more than 14% and Greek bank stocks also rallied after Greek Prime Minister Papandreou said the government may buy shares in some Greek banks as a result of the planned writedown of the country's debt and the European accord to recapitalize lenders.
  • Asian stocks today closed higher with Japan up +2.04%, China +0.22%, Australia +2.49%, South Korea +1.47%, India closed for holiday. Asian markets gained on a relief rally after European leaders took steps to stem the debt crisis. After keeping the overnight lending rate between 0.00% and 0.10% as expected, the BOJ expanded their credit and asset-purchase programs to a total of 55 trillion yen ($724 billion) from 50 trillion yen. The yen remained unfazed with the BOJ's actions and held near its record high. South Korean stocks also received a boost after Q3 South Korea GDP rose +0.7% q/q, slower than the +0.9% gain in Q2, but stronger than expectations of +0.6% q/q.
Overnight U.S. Stock News
  • December S&Ps this morning are trading up sharply by +25.60 points at a 2-1/2 month high. The US stock market yesterday finished higher on better-than-expected U.S. economic data and after EU leaders said they reached an agreement on plans to recapitalize banks: Dow Jones +1.39%, S&P 500 +1.05%, Nasdaq Composite +0.46%. Bullish factors included (1) the stronger-than-expected Sep durable goods orders (-0.8% and +1.7% ex transportation versus expectations of -1.0% and +0.4% ex transportation), (2) the stronger-than-expected Sep U.S. new home sales which rose to their best level in 5 months (+5.7% to 313,000 versus expectations of +1.7% to 300,000), (3) the report from Agence France-Presse that said China may be willing to help fund Europe's bailout efforts, and (4) a rally in bank stocks after EU leaders meeting in Brussels said they had reached an agreement on a plan to recapitalize the region's banks.
  • Bearish factors included (1) concern that European leaders may will be unable to agree on a solution to the debt crisis after a EU official said talks with banks on bondholder losses as part of a second Greek bailout were deadlocked and that EU leaders may put off expanding the European Financial Stability Facility (EFSF) until the end of November, and (2) concern that global economic growth is slowing after Oct U.K. CBI trends total orders fell to its lowest level in a year and after incoming ECB President Draghi said he sees "significant downside risks to economic growth in the Euro-Zone as industrial output in the region expands at a "very moderate pace."
  • Bank of America (BAC) and Citigroup (C) rose more than 3% in pre-market trading on carry-over support from a rally in European banks after EU leaders took steps to stem the debt crisis.
  • Freeport McMoRan Copper & Gold (FCX) rose 3.6% in European trading after copper prices climbed to 1-month highs in overnight trade.
Today's Market Focus
  • December 10-year T-notes this morning are down -15.5 ticks as soaring global equity markets saps the safe-haven demand for Treasuries. T-note prices yesterday retreated on stronger-than-expected U.S. economic data along with reduced safe-haven demand as stocks rallied after EU leaders said they reached agreement on a plan to recapitalize the region's banks: TYZ11 -17.5, FVZ11 -9.5, EDH12 -2.0. Bearish factors included (1) the stronger-than-expected Sep durable goods orders (-0.8% and +1.7% ex transportation versus expectations of -1.0% and +0.4% ex transportation), (2) the stronger-than-expected Sep U.S. new home sales which rose to their best level in 5 months (+5.7% to 313,000 versus expectations of +1.7% to 300,000), (3) the announcement from EU leaders that they had agreed on a plan to recapitalize European banks as part of an effort to contain the sovereign debt crisis, and (4) supply pressures ahead of the Treasury's $29 billion auction of 7-year T-notes on Wed. Bullish factors included (1) increased safe-haven demand for Treasuries on concern that European leaders will be unable to agree on a solution to the debt crisis after a EU official said talks with banks on bondholder losses as part of a second Greek bailout were deadlocked, and (2) strong demand for the Treasury's auction of $35 billion in 5-year T-notes that had a bid-to-cover ratio of 2.94, stronger than the 12-auction average of 2.79.
  • The dollar index this morning is weaker and at a 1-1/2 month low with the dollar/yen -0.33 yen and the euro/dollar +1.24 cents. The dollar index yesterday rebounded from a 1-1/2 month low and settled higher as the euro retreated after an EU official said EU talks with banks and on bondholders losses were deadlocked: Dollar Index +0.124, USDJPY +0.070, EURUSD -0.00012. The yen posted to a new post WWII high of 75.72 yen per dollar. Bullish factors included (1) concern that European leaders will be unable to agree on a solution to the debt crisis after a EU official said talks with banks on bondholder losses as part of a second Greek bailout were deadlocked, (2) weakness in the pound after Oct U.K. Confederation of British Industry (CBI) business optimism tumbled to a 2-1/2 year low, (3) comments from Japanese Finance Minister Azumi that increase the chance of Japanese intervention against the surging yen, when he ordered staffers "to be prepared to take action against the yen's gains," and (4) stronger-than-expected U.S. economic data on Sep durable goods orders and Sep new home sales, which suggests economic strength and is dollar supportive. Bearish factors included (1) the action by German lawmakers to approve a plan to increase the capacity of the European bailout fund, which is euro supportive and (2) weakness in the Canadian dollar against the U.S. dollar after the BOC cut its growth outlook through mid-2012, which reduces chances of the BOC raising interest rates.
  • Dec crude oil prices this morning are up +$2.04 a barrel and Dec gasoline is +3.82 cents per gallon. Crude oil and gasoline prices yesterday retreated as the dollar strengthened, crude oil inventories surged and U.S. gasoline demand faltered: CLZ11 -$2.97, RBZ11 -4.94. Bearish factors included (1) the reversal in the dollar after the dollar index rebounded from a 1-1/2 month low and settled higher, which decreased investment demand in commodities, (2) the larger-than-expected rise in weekly DOE crude inventories (+4.74 million bbl versus expectations of +1.48 million bbl), (3) a slump in U.S. gasoline demand after deliveries of gasoline to wholesalers last week fell -1.1% to 8.5 million barrels a day, the lowest in 7-3/4 years, and (4) concern the European sovereign debt crisis will remain unresolved, which could slow global economic growth and energy demand after a EU official said EU talks with banks and bondholders of Greek debt were suspended over how much of a loss bondholders are willing take on their Greek debt holdings. Bullish factors included (1) the stronger-than-expected Sep U.S. durable goods orders and Sep new home sales, which indicates economic strength that it positive for energy demand and (2) the larger-than-expected decline in weekly distillate inventories which fell to their lowest level in 3-1/2 months (-4.28 million bbl to 145.5 million bbl versus expectations of -2.0 million bbl).
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): XOM-Exxon Mobil (BEST earnings consensus $2.13), PG-Procter & Gamble (1.03), OXY-Occidental Petroleum (1.94), MO-Altria Group (0.56), BMY-Bristol-Myers Squibb (0.58), BIDU-Baidu Inc. (0.85), CL-Colgate-Palmolive (1.30), MET-MetLife (1.09), GILD-Gilead Sciences (1.01), DOW-Dow Chemical (0.64), LVS-Las Vegas Sands (0.52), CELG-Celgene (0.95), PCP-Precision Castparts (2.04), TWC-Time Warner Cable (1.14), BEN-Franklin Resources (2.06), JCI-Johnson Controls (0.76).
Global Financial Calendar
Thursday 10/27/11
United States
0830 ET Weekly initial unemployment claims expected -2,000 to 401,000, last -6,000 to 403,000. Weekly continuing claims expected -19,000 to 3.700 million, last +25,000 to 3.719 million.
0830 ET Q3 U.S. GDP expected +2.5% annualized, Q2 +1.3% annualized. Q2 personal consumption expected +1.9%, Q2 +0.7%. Q3 GDP price index expected +2.4%, Q2 +2.5%. Q3 core PCE expected +2.2%, Q2 +2.3% q/q.
1000 ET Sep pending home sales expected +0.3% m/m and +11.8% y/y, Aug -1.2% m/m and +13.1% y/y.
1300 ET Treasury auctions $29 billion in 7-year T-notes.
1630 ET Weekly money supply report and Fed balance sheet.
Euro-Zone
0400 ET Sep Euro-Zone M3 money supply expected +2.6% 3-mo avg and +2.8% y/y, Aug +2.3% 3-mo avg and +2.8% y/y.
0500 ET Oct Euro-Zone economic confidence expected 93.8, Sep -3.4 to 95.0. Oct Euro-Zone industrial confidence expected -7.0, Sep -3.2 to -5.9.
United Kingdom
0600 ET Oct U.K. CBI reported sales expected -16, Sep -15.
1901 ET Oct U.K. GfK consumer confidence survey expected -30, Sep +1 to -30.
Japan
1930 ET Sep Japan jobless rate, Aug -0.4 to 4.3%. Sep job-to-applicant ratio expected -0.67, Aug 0.66.
1930 ET Sep Japan overall household spending expected -3.5%, Aug -4.1% y/y.
1930 ET Oct Tokyo CPI expected -0.5% y/y, Sep -0.2% y/y. Oct Tokyo CPI ex-fresh food expected -0.4% y/y, Sep -0.1% y/y.
1930 ET Sep Japan national CPI expected +0.1% y/y, Aug +0.2% y/y. Sep national CPI ex-fresh food expected +0.2% y/y, Aug +0.2% y/y. Sep national CPI ex food & energy expected -0.4% y/y, Aug -0.5% y/y.
1950 ET Sep Japan industrial production expected -2.1% m/m and -2.3% y/y, Aug +0.8% m/m and +0.4% y/y.
Germany
n/a Oct German CPI (EU harmonized) expected unchanged m/m and +2.8% y/y, Sep +0.2% m/m and +2.9% y/y.

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Simon Property Group - SPG - Barchart Chart of the Day

Barchart.coms Chart of the Day - Simon Property Group (SPG)
Related Stocks
SPG - Simon Property Group
Sym Last Chg Pct
SPG 123.59 +2.48 +2.05%
The "Chart of the Day" is Simon Property Group (SPG), which showed up on Wednesday's Barchart "All Time High" list. SPG on Wednesday rallied by 2.05% and posted a new all-time high of $123.27. TrendSpotter turned Long on SPG on Monday at $122.87. In recent news on the stock, SPG on Tuesday reported Q3 adjusted earnings of $1.43, which was lower than the consensus of $1.66, but the company raised its 2011 guidance to $6.80-$6.85 versus the consensus of $6.81. The company also raised its dividend to $1.10 from $0.80. Simon Property Group, with a market cap of $36 billion, is a real estate investment trust that focuses on regional malls and community shopping centers.

spg_700
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Buy
  • Short-Term Indicators: 60% Buy
  • Medium-Term Indicators: 50% Buy
  • Long-Term Indicators: 33% Buy
  • Overall Average 56% Buy


Barchart links for further information:

Quotes and Charts
Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual


Chart of the Day Archive
View Past Chart of the Day Reports

Wednesday, October 26, 2011

Barchart Morning Call 10/25

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are mixed with the Euro Stoxx 50 up +0.10% and Dec S&Ps up +7.40 points. Treasuries fell while stocks and commodities strengthened with gold at a 1-month high, after demand for 12-month loans from the ECB weakened. European banks borrowed 56.9 billion euros in 12-month loans from the ECB, less than the 70 billion euros estimated by analysts. The markets are waiting for the results of the Euro-Zone summit later today in Brussels to see if EU leaders can resolve the region's debt crisis. European leaders are holding the 14th crisis summit in 21 months to discuss Greece's second bailout, the recapitalization of banks and the strengthening of the 440 billion-euro rescue fund. Incoming ECB President Draghi called for "immediate implementation" of the Euro-Zone rescue fund to manage the crisis. Draghi, who takes over as ECB President on Nov 1, also said that he sees "significant downside risks to economic growth in the Euro-Zone as industrial output in the region expands at a "very moderate pace."
  • Asian stocks today closed mixed with Japan down -0.16%, China +1.00%, Australia +0.35%, South Korea +0.15%, India +0.28%. The yen rallied to a new post WWII high of 75.72 yen per dollar on increased safe-haven demand over concern European leaders will struggle to find a solution to the debt crisis. The yen fell back from its record high after Japanese Finance Minister Azumi said his ministry will take "decisive" measures to stem the yen's rise. The Nikkei newspaper also reported that the BOJ will discuss steps to ease the impact of the strong yen on Japan's economy at its policy meeting tomorrow. China's Shanghai Stock Index rallied to a 1-week high on speculation the government may ease monetary policy after Chinese Premier Wen Jiabao said that economic policy will be fine-tuned as needed and the industry ministry said it is studying "simulative policies" for smaller companies as a global slowdown threatens growth.
Overnight U.S. Stock News
  • December S&Ps this morning are trading up +7.40 points. The US stock market yesterday closed lower on weak U.S. economic data along with concern that no resolution will be found to the European debt crisis at Wednesday's summit of EU leaders in Brussels: Dow Jones +0.32%, S&P 500 -2.00%, Nasdaq Composite -2.26%. Bearish factors included (1) the larger-than-expected decline in the Aug S&P/CaseShiller composite-20 home price index (-0.1% m/m and -3.8% y/y versus expectations of +0.1% m/m and -3.5% y/y), (2) the unexpected fall in Oct U.S. consumer confidence to a 2-1/2 year low (-6.8 to 39.8 versus expectations of +0.6 to 46.0), (3) the unexpected stagnation in the Oct Richmond Fed manufacturing index (unchanged at -6 versus expectations of +7 to 1), (4) the slide in bellwether stock UPS after the world's largest package-delivery company fell when it said volume was flat in Q3 because of "the slow U.S. economy," and (5) concern that European leaders may will be unable to agree on a solution to the debt crisis after reports said that banks are pushing for only a 40% write-down of Greek debt compared to 50% to 60% mentioned by the head of the Euro-Zone finance ministers, Jean-Claude Juncker.
  • Bullish factors included (1) comments from the head of the Euro-Zone finance ministers, Jean-Claude Juncker, who said he is convinced that European leaders will find a "final and even ground-breaking" solution to the debt crisis at Wednesday's EU summit in Brussels and (2) positive reported earnings results as 74% of the 144 companies in the S&P 500 since Oct 11 have beaten analysts' earnings estimates.
Today's Market Focus
  • December 10-year T-notes this morning are down -4.5 ticks. T-note prices yesterday recovered from a 1-week low and settled higher after U.S. home prices fell more than unexpected, U.S. consumer confidence unexpectedly fell, and strong demand was seen for the Treasury's 2-year T-note auction: TYZ11 +25, FVZ11 +13.7, EDH12 +0.5. Bullish factors included (1) the larger-than-expected decline in the Aug S&P/CaseShiller composite-20 home price index (-0.1% m/m and -3.8% y/y versus expectations of +0.1% m/m and -3.5% y/y), (2) the unexpected fall in Oct U.S. consumer confidence to a 2-1/2 year low (-6.8 to 39.8 versus expectations of +0.6 to 46.0), (3) the unexpected stagnation in the Oct Richmond Fed manufacturing index (unchanged at -6 versus expectations of +7 to 1), and (4) strong demand for the Treasury's $35 billion auction of 2-year T-notes that had a bid-to-cover ratio of 3.64, higher than the 12-auction average of 3.37. Bearish factors included (1) reduced safe-haven demand on optimism European leaders will find a resolution to the region's debt crisis after the head of the Euro-Zone finance ministers, Jean-Claude Juncker, said he is convinced that European leaders will find a "final and even ground-breaking" solution to the debt crisis at Wednesday's EU summit in Brussels and (2) supply pressures ahead of the Treasury's $35 billion auction of 5-year T-notes on Wed.
  • The dollar index this morning is weaker with the dollar/yen -0.22 yen and the euro/dollar +0.26 cents. The yen rallied to a new post WWII high of 75.72 yen per dollar in overnight trade. The dollar index yesterday fell to a 1-1/2 month low as the yen rallied to an all-time high against the dollar and as the euro rose to a 1-1/2 month high against the dollar, but the dollar shed its losses and closed higher on concern EU leaders will fail to find a resolution to the debt crisis at the Euro-Zone summit on Wed: Dollar Index +0.094, USDJPY -0.004, EURUSD -0.00221. Bullish factors included (1) concern that European leaders will be unable to agree on a solution to the debt crisis with reports that banks only want a 40% write-down of Greek debt compared to 50% to 60% mentioned by the head of the Euro-Zone finance minister, Jean-Claude Juncker, and (2) a report from the Nikkei newspaper that said the BOJ will consider additional monetary easing, which knocked the yen back from an all-time high against the dollar. Bearish factors included (1) euro supportive comments from the head of the Euro-Zone finance ministers, Jean-Claude Juncker, who said he is convinced that European leaders will find a "final and even ground-breaking" solution to the debt crisis at Wednesday's EU summit in Brussels, (2) the unexpected drop in the Oct U.S. consumer confidence to a 2-1/2 year low, which is dollar negative, and (3) the rally in the yen to an all-time high of 75.74 per dollar as the slumping stock market fueled safe-haven buying of the yen.
  • Dec crude oil prices this morning are up +23 cents a barrel and Dec gasoline is -1.64 cents per gallon. Crude oil and gasoline prices yesterday settled mixed as dollar strength and backwardation of crude prices boosted crude while an unexpected drop in U.S. consumer confidence undercut gasoline: CLZ11 +$1.90, RBZ11 +0.44. Dec crude posted a 2-1/2 month high. Bullish factors included (1) the slide in the dollar index to a 1-1/2 month low, which boosts investment demand in commodities and (2) a backwardation in WTI crude prices as front-month December crude settled higher than back month crude prices for the first time in 2-3/4 years, which caused massive fund short covering and may signal a decline in crude supply or an increase in demand in the near term. Bearish factors included (1) the unexpected slide in Oct U.S consumer confidence to a 2-1/2 year low, which may prompt a drop in consumer spending and fuel demand and (2) the greater-than-expected decline in home prices in the Aug S&P/CaseShiller home price index, which signals a struggling housing market that may limit economic growth and energy demand. Expectations for Wednesday's weekly DOE inventory report are for crude oil stockpiles to climb 1.48 million bbl, gasoline supplies to fall -1.75 million bbl, distillate inventories to slide -2.0 million bbl and the refinery utilization rate to remain unchanged at 83.1%.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): COP-ConocoPhillips (BEST earnings consensus $2.18), V-Visa (1.25), BA-Boeing (1.10), F-Ford Motor (0.44), SO-Southern (1.04), PX-Praxair (1.39), EXC-Excelon (1.10), AGN-Allergan (0.90), LMT-Lockheed Martin (1.81), ADP-Automatic Data Processing (0.61), WLP-WellPoint (1.67), NSC-Norfolk Southern (1.42), GD-General Dynamics (1.77), GLW-Corning (0.42), TMO-Thermo Fisher (1.07), AFL-Aflac (1.60).
Global Financial Calendar
Wednesday 10/26/11
United States
0700 ET Weekly MBA mortgage applications, previous -14.9% with purchase mortgage sub-index -8.8% and refinancing sub-index -16.6%.
0830 ET Sep durable goods orders expected -1.0% and +0.4% ex transportation, Aug -0.1% and -0.1% ex transportation.
1000 ET Sep new home sales expected +1.7% to 300,000, Aug -2.3% to 295,000.
1300 ET Treasury auctions $35 billion in 5-year T-notes.
Germany
0200 ET German Sep import price index expected +0.6% m/m and +6.9% y/y, Aug -0.7% m/m and +6.6% y/y.
France
0245 ET Oct French business survey of overall demand, Sep 16.
1200 ET Sep French jobseekers net change expected +23,500, Aug -2,000. Sep total jobseekers, Aug 2,754,500.
United Kingdom
0600 ET Oct U.K. CBI trends total orders expected -7, Sep -9.
0600 ET Oct U.K. CBI business optimism, Sep -16.
Canada
0900 ET Aug Canada Teranet/National Bank home price index, Jul +1.3% m/m and +5.3% y/y.
Euro-Zone
0730 ET ECB Council member Vitor Constancio speaks on ?The Future of the International Monetary System? at an event organized by the Official Monetary and Financial Institutions Forum in London.
Japan
1950 ET Sep Japan retail trade expected -0.5% m/m and -0.1% y/y, Aug -1.7% m/m and -2.6% y/y.

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Under Armour - UA - Barchart Chart of the Day

Barchart.com's Chart of the Day - Under Armour (UA)
Related Stocks
UA - Under Armour
Sym Last Chg Pct
UA 81.84 +1.69 +2.11%
The "Chart of the Day" is Under Armour (UA), which showed up on Tuesday's Barchart "All Time High" list. Under Armour on Tuesday rallied by 5.00% and posted a new all-time high of $83.47. TrendSpotter has been Long since Oct 10 at $74.45. Under Armour on Tuesday reported Q3 EPS of 88 cents, higher than the consensus of 83 cents. Under Armour, with a market cap of $3.7 billion, sells performance sports apparel products for men, women and youth. The Company is an official supplier to the National Hockey League, the U.S. Ski Team, USA Rugby, the National Lacrosse League, and Major League Lacrosse.

ua_700_01

How we found the Chart of the Day:

We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Buy
  • Short-Term Indicators: 100% Buy
  • Medium-Term Indicators: 100% Buy
  • Long-Term Indicators: 33% Buy
  • Overall Average 88% Buy


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Tuesday, October 25, 2011

Barchart Morning Call 10/25

Barchart Morning Call
Overnight Developments
  • U.S. and European stocks this morning are trading higher with the Euro Stoxx 50 up 0.17% and Dec S&Ps up 6.20 points (+0.50%). The markets remain optimistic ahead of tomorrow's European summit. German parliament members today will review the two plans that are being proposed to leverage the EFSF. One plan involves partially insuring sovereign bond issuance and the other plan involves the EFSF buying sovereign debt and then selling bonds to finance those purchases. The German parliament will vote on the EFSF expansion tomorrow, the same day as the European summit, and approval is expected. Deutsche Bank today reported net income of 725 million euros, which was substantially better than the consensus of 343 million euros. BP is up more that 4% today on a better than expected earnings report. However, STMicroelectronics, Europe's largest semiconductor producer, fell 7% on weaker-than-expected sales. Forty three of the S&P 500 companies are due to release results today including UPS and Amazon.com. Texas Instruments is down 0.9% in European trading after Q3 results showed lower than expected sales.
  • Asian stocks today closed mixed: Japan -0.92%, Hong Kong +1.05%, China +1.89%, Taiwan +0.28%, Australia -0.64%, Singapopre +0.33%, South Korea -0.41%, Bombay +1.86%. India's central bank today raised its repurchase rate by 25 bp to 8.50% from 8.25%, which was generally in line with market expectations. India's central bank has now raised its policy rate by a total of 375 bp since March 2010 in an effort to curb inflation pressures. Indian's wholesale inflation rate hit 9.7% in September. However, the central bank today indicated that another rate hike may not be forthcoming soon since it said that the likelihood of a rate change at its next policy review in December is "relatively low."
Overnight U.S. Stock News
  • December S&Ps this morning are up 6.20 points (+0.50%) on continued optimism about Wednesday's European summit cominbed with the recent better-than-expected U.S. economic data and comments by several Fed officials about the possible need for additional support measures. The US stock market on Monday extended last Friday's sharp rally: Dow Jones +0.89%, S&P 500 +1.29%, Nasdaq Composite +2.35%. Bullish factors included (1) the 1.2 point rise in China?s flash Oct purchasing managers index from HSBC/Markit to 5-month high of 51.1 from 49.9 in September, (2) the +2.4% y/y rise in Japanese Sep exports, stronger than expectations of +1% and just below August?s +2.8% y/y gain, (3) a 5% rally in Caterpillar on positive earnings news, which bode well for global demand, (4) the comment by NY Fed President William Dudley that the Fed wants to keep mortgage rates down and that QE3 is "possible," and (5) continued optimism that Europe will get a deal done to address the debt crisis.
Today's Market Focus
  • December 10-year T-notes this morning are trading -6 ticks on the continued decline in safe-haven demand with the rally in stocks. T-note prices on Monday closed lower: TYZ11 -10, FVZ11 -4.75, EDH12 +1.5. The main bearish factor was the continued rally in the U.S. stock market and reduced safe-haven demand tied to expectations for a European deal on the debt crisis. However, the T-note market received support from NY Fed President William Dudley's comment that the Fed wants to keep mortgage rates down and that QE3 is "possible." That was the third Fed official in as many business days mentioning further easing moves. Fed Vice Chairman Janet Yellen last Friday said that a third round of quantatitive easing might become warranted and Fed Governor Daniel Tarullo last Thursday said the Fed should consider a program of buying mortgage securities.
  • The dollar index this morning is trading down -0.139 points with USDJPY +0.04 yen and EURUSD +0.20 cents. The dollar continued to be undercut by reduced safe-haven demand. The dollar index on Monday continued lower due to the continued rally in the stock market and waning safe-haven demand: Dollar Index -0.367, USDJPY 0.19, EURUSD +0.0033. USDJPY on Monday consolidated mildly above last Friday?s record low of 75.82 yen and failed to get a significant boost from implicit threats from Japanese officials about intervention. The euro continues to rally on expectations that Eurozone leaders are moving towards a deal at their summit on Wednesday that includes bank recapitalization, expansion of the EFSF fund, and a larger haircut for Greek bond holders.
  • Dec crude oil prices this morning are up $2.60 but Dec gasoline is down 1.24 cents. Crude oil is higher on improved optimism about global demand while gasoline is lower on expectations for reduced seasonal demand. Crude oil and gasoline prices on Monday rallied with Dec crude oil breaking out out to a new 2-1/2 month high: CLZ11 +$3.87, RBZ11 +0.0121. Bullish factors included (1) the drawdown in inventories at Cushing, Oklahoma, the pricing hub for the WTI contract, (2) the 1.2 point rise in China?s flash Oct purchasing managers index from HSBC/Markit to 5-month high of 51.1 from 49.9 in September, which sparked expectations for increased Chinese fuel demand, (3) the rally in U.S. stocks and the improved perception of the U.S. and global economy.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): AMZN-Amazon (BEST earnings consensus $0.54), UPS-United Parcel (1.05), MMM-3M (1.61), DD-DuPont (0.56), SPG-Simon Property (0.68), NOV-National Oilwell Varco (1.16), ACE- ACE Ltd (1.78), ITW-Illinois Tool Works (0.98), RAI-Reynolds (0.73), BRCOM-Broadcom (0.77), ESRX-Express Script (0.76), CMI-Cummins (2.25), MCK-McKesson (1.39), COH-Coach (0.70), PCAR-Paccar (0.70), TROW-T Rowe Price (0.74), BXP-Boston Properties (0.36), CHRW-CH Robinson (0.70).
Global Financial Calendar
Tuesday 10/25/11
United States
0745 ET ICSC (Int?l Council of Shopping Centers) weekly retailer sales.
0855 ET Redbook weekly retailer sales.
0900 ET Aug S&P/CaseShiller composite-20 home price index expected +0.1% m/m and -3.5% y/y, Jul +0.1% m/m and -4.1% y/y.
1000 ET Oct U.S. consumer confidence expected +0.6 to 46.0, Sep +0.2 to 45.4.
1000 ET Aug FHFA U.S. house price purchase index expected +0.2% m/m, Jul +0.8% m/m.
1000 ET Oct Richmond Fed manufacturing index expected +7 to 1, Sep +4 to -6.
1130 ET Weekly 4-week T-bill auction.
1300 ET Treasury auctions $35 billion in 2-year T-notes.
Germany
0200 ET Nov German GfK consumer confidence survey expected -0.1 to 5.1, Oct unchanged at 5.2.
France
0245 ET Oct French consumer confidence indicator expected -2 to 78, Sep -2 to 80.
Canada
0830 ET Aug Canada retail sales expected +0.3% m/m and +0.4% ex-autos, Jul -0.6% m/m and unchanged ex-autos.
0900 ET Bank of Canada interest rate decision (policy rate expected unchanged at 1.00%).
Japan
1950 ET Sep Japan corporate service price index expected -0.4% y/y, Aug -0.4% y/y.

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VF Corp - VFC - Barchart Chart of the Day

Barchart.coms Chart of the Day - VF Corp (VFC)
Related Stocks
VFC - V.F. Corp.
Sym Last Chg Pct
VFC 136.99 +4.30 +3.24%
The "Chart of the Day" is VF Corp (VFC), which showed up on Monday's Barchart "All Time High" list. VF Corp on Monday rallied by 3.24% and posted a new all-time high of $139.64. TrendSpotter has been Long since Sep 13 at $119.14. VF Corp on Monday reported Q2 EPS of $2.87 versus the consensus of $2.57 and estimated 2011 organic growth at 13.5%. The company said it has seen little evidence of a slowdown in business and said that it has "more confidence than ever" in its business model. VF Corp, with a market cap of $14 billion, sells jeanswear, intimate apparel, children's playwear, occupational apparel, knitwear and other apparel. Brands include Lee, Wrangler, Riders, Rustler, Vanity Fair, Vassarette, Bestform, Lily of France, Lee Sport, Healthtex, JanSport, Eastpak, Red Kap and The North Face.

vfc_700_02
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Buy
  • Short-Term Indicators: 80% Buy
  • Medium-Term Indicators: 100% Buy
  • Long-Term Indicators: 100% Buy
  • Overall Average 96% Buy


Barchart links for further information:

Quotes and Charts
Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual


Chart of the Day Archive
View Past Chart of the Day Reports

Monday, October 24, 2011

Barchart Morning Call 10/25

Barchart Morning Call
Overnight Developments
  • European stocks this morning are trading slightly lower with the Euro Stoxx 50 down -0.04%. Dec S&Ps are down 2.20 points (-0.18%). The European summit on Sunday produced little hard news except that Germany and France have now officially rejected the idea of leveraging the EFSF by turning it into a bank and allowing it to borrow from the ECB. Regarding Greece, banks reportedly offered to take a loss of 40% on a voluntary Greek bond swap program, up from 21% in the original agreement but still less than the 50-60% haircut that European governments are now pursuing.
  • Asian stocks today closed higher across the board on positive Chinese and Japanese economic news: Japan 1.90%, Hong Kong +4.14%, China +2.74%, Taiwan +2.97%, Australia +2.73%, Singapore +1.79%, South Korea +3.41%, Bombay +0.92%. Japanese stocks were boosted by new that Japanese Sep exports rose +2.4% y/y, stronger than expectations of +1% and just below August's +2.8% y/y gain. China's flash Oct purchasing managers index from HSBC/Markit rose by 1.2 points to a 5-month high of 51.1 from 49.9 in September, boosting Chinese and Hong Kong stocks.
Overnight U.S. Stock News
  • December S&Ps this morning are down 2.20 points on a little disappointment that there wasn't more positive news from the weekend Eurozone summit. The US stock market last Friday rallied sharply: Dow Jones +2.31%, S&P 500 +1.88%, Nasdaq Composite +1.49%. Bullish factors included (1) optimism that Eurozone leaders may be headed toward a deal to solve the debt crisis, (2) a sharp 3.8% rally in European bank stocks, (3) bullish technicals with the new 11-week high in the S&P 500 index, (4) favorable earnings reports during the week, and (5) Fed Vice Chairman Janet Yellen's comment that a third round of quantatitive easing might become warranted. McDonald's rallied 3.7% and Honewell rallied 5.8% on positive earnings news.
Today's Market Focus
  • December 10-year T-notes this morning are trading +2 ticks on the slightly lower trade in Dec S&Ps. T-note prices last Friday closed mixed: TYZ11 -1.5, FVZ11 +1, EDH12 -2.0. The main bearish factor was reduced safe-haven demand with the rally in stocks and optimism about a European debt crisis deal. The main bullish factor was optimism that the Fed might seriously consider additional stimulus measures after Fed Vice Chairman Janet Yellen last Friday said that a third round of quantatitive easing might become warranted. That followed Fed Governor Daniel Tarullo's comment last Thursday that the Fed should consider a program of buying mortgage securities.
  • The dollar index this morning is trading up 0.134 points with USDJPY down 0.21 yen and EURUSD down 0.63 cents. The euro is lower on some disappointment on the lack of any positive announcements out of the weekend Eurozone meeting. USDJPY is lower despite ongoing threats by Japanese authorities regarding intervention. The dollar index last Friday slipped to a 5-week low while EURUSD closed just below its 6-week high. USDJPY dropped to a record low. Friday's closes: Dollar Index -0.024, USDJPY -0.051, EURUSD +0.0014. The euro continued to be boosted by progress toward a European debt crisis deal. Meanwhile, the yen continued to show strength on yen repatriation and on technicals.
  • Dec crude oil prices this morning are up 21 cents and Dec gasoline is up 1.19 cents. Bullish factors center on today's positive economic reports from Japan and China, which boosted hopes for Asian fuel demand. Crude oil and gasoline last Friday closed higher: CLZ11 +$1.33, RBZ11 +0.0012. Crude oil last Friday was boosted by strength in the stock market and increased optimism about a European debt and stronger global economic growth. However, gasoline lagged the strength in crude oil since last week's death of Qaddafi will accelerate Libya's progress in restoring oil production, thus putting downward pressure on Brent crude oil prices and by extension U.S. gasoline prices, which have lately been more closely correlated with Brent crude oil than WTI. Crude oil prices last Friday also continued to see support from Wednesday's DOE report showing that u.S. crude oil inventories fell sharply by 4.73 million barrels to a 20-month low of 332.9 million barrels.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): CAT-Caterpillar (BEST earnings consensus $1.57), AMGN-Amgen (1.29), TXN-Texas Instruments (0.57), KMB-Kimberley-Clark (1.26), LO-Lorillard (2.03), VFC-VF Corp (2.57), ETN-Eaton (0.40), ROP-Roper Industries (1.08), WSH-Willis Group (0.37), NFLX-Netflix (1.07), PCL-Plum Creek Timber (0.30), RMD-Resmed (0.34).
Global Financial Calendar
Monday 10/24/11
United States
0830 ET Sep Chicago Fed national activity index expected -0.21, Aug -0.45 to -0.43.
0845 ET New York Fed President William Dudley speaks on the regional and national economy at Fordham University.
0900 ET Dallas Fed President Richard Fisher speaks on challenges to economic growth at the Toronto Forum for Global Cities Fifth Annual Conference.
1100 ET USDA weekly grain export inspections.
1130 ET Weekly 3-mo and 6-mo T-bill auctions.
1700 ET USDA weekly crop progress report for week ended Oct 23.
France
0300 ET Oct French PMI manufacturing expected 48.0, Sep -0.9 to 48.2.
0300 ET Oct French PMI services expected 50.4, Sep -5.3 to 51.5.
Germany
0330 ET Oct German PMI manufacturing expected 50.0, Sep -0.6 to 50.3.
0330 ET Oct German PMI services expected 49.9, Sep -1.4 to 49.7.
Euro-Zone
0400 ET Oct Euro-Zone PMI composite expected 48.8 (mfg 48.0, services 48.5), Sep -1.6 to 49.1 (mfg 48.5, services 48.8).
0500 ET Aug Euro-Zone industrial new orders expected unchanged m/m and +5.8% y/y, Jul -2.1% m/m and +8.4% y/y.
1800 ET Jean-Claude Juncker, head of the Euro-Zone finance ministers, speaks at Zurich University about ?The Future of Europe.?

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Nike -- NKE -- Barchart Chart of the Day

Barchart.coms Chart of the Day - Nike (NKE)
Related Stocks
NKE - Nike
Sym Last Chg Pct
NKE 94.35 +2.46 +2.68%
The "Chart of the Day" is Nike (NKE), which showed up on Friday's Barchart "All Time High" list. Nike on Friday rallied by 2.68% and posted a new all-time high of $94.35. TrendSpotter has been Long on Nike since Sep 20 at $90.20. In recent news on the stock, Barron's on Sep 25 said that Nike is "sprinting ahead" of the pack with accelerating demand for its products. Citigroup on Sep 23 reiterated its Buy rating and raised its target to $101 from $98, saying that Nike remains a solid long-term play on apparel growth. Nike on Sep 22 reported fiscal Q1 EPS of $1.36 versus the consensus of $1.21. Nike, with a market cap of $42 billion, is one of the world's largest sellers of athletic footwear and athletic apparel.

nke_700
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Buy
  • Short-Term Indicators: 80% Buy
  • Medium-Term Indicators: 100% Buy
  • Long-Term Indicators: 100% Buy
  • Overall Average 96% Buy


Barchart links for further information:

Quotes and Charts
Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual


Chart of the Day Archive
View Past Chart of the Day Reports