- 72% Barchart technical sell signals
- Trend Spotter sell signal
- Below its 20, 50 and 100 day moving averages
- 13.44% off it's 1 year high
- Relative Strength Index 41.52%
The Eurozone Jun trade surplus widened to 14.9 billion euros from a 13.8 billion euro surplus in May. June exports rose a seasonally adjusted +3.0% m/m, their first increase in 3-months, from a -2.6% m/m decline in May. June imports rose +2.5% m/m after a -2.1% decline in May.
The July Eurozone CPI fell -0.5% m/m, right on expectations and the biggest decline in 6-months. The Eurozone CPI was left unrevised at +1.6% y/y and the July core CPI was also left unrevised at the originally reported +1.1% y/y.
Xilinx (XLNX -2.33%) was upgraded to "Overweight" from "Equal Weight" at Morgan Stanley who also raised its price target on the stock to $40 from $38.
Pandora (P -3.50%) was upgraded to "Buy" from "Neutral" with a price target of $27 at Goldman.
Anadarko (APC +0.25%) was upgraded to "Strong Buy" from "Buy" at ISI Group.
Alcoa (AA unch) was downgraded to "Underperform" from "Neutral" at BofA/Merrill.
General Mills (GIS -2.88%) was downgraded to "Underperform" from "Hold" at Jefferies.
STMicroelectronics (STM -1.52%) was downgraded to "Underweight" from "Neutral" at HSBC.
JoS. A. Bank (JOSB -1.76%) fell 5% in after-hours trading after it lowered its Q2 EPS estimate to 49 cents-53 cents, well below consensus of 68 cents.
Gabelli reports 5.09% stake in Lennar (LEN +5.12%) .
Nordstrom (JWN -0.35%) fell over 3% in after-hours trading after it reported Q2 EPS of 93 cents, stronger than consensus of 88 cents, but then lowered guidance on fiscal 2013 EPS view to $3.60-$3.70 from $3.65-$3.80, lower than consensus of $3.78.
Applied Materials (AMAT -2.61%) reported Q3 adjusted EPS of 18 cents, weaker than consensus of 19 cents.
Dell (DELL -0.15%) reported Q2 adjusted EPS of 25 cents, better than consensus of 24 cents.
Sep 10-year T-notes (ZNU13 -0.21%) this morning are down -4 ticks. Sep 10-year T-note prices on Thursday fell to a 5-week low and the 10-year T-note yield surged to a 2-year high of 2.82% after U.S. weekly jobless claims fell to their lowest level in 5-3/4 years and after the Aug NAHB housing market index climbed to its best level in 7-3/4 years. T-note prices rose from their worst levels after July industrial production was unchanged (weaker-than-expectations of +0.3%) and after the Aug Philadelphia Fed manufacturing index fell more than expected. Closes: TYU3 -9.0, FVU3 -7.25.
The dollar index (DXY00 +0.08%) this morning is up +0.052 (+0.06%). EUR/USD (^EURUSD) is down -0.0010 (-0.07%) and USD/JPY (^USDJPY) is up +0.06 (+0.06%). The dollar index on Thursday posted a 1-week high after initial unemployment claims fell to a 5-3/4 year low, but gave up its advance and closed lower after July industrial production unexpectedly stagnated. Closes: Dollar index -0.547 (-0.67%), EUR/USD +0.00917 (+0.69%), USD/JPY -0.771 (-0.79%).
Sep WTI crude oil (CLU13 +0.20%) this morning is up +5 cents (+0.05%) and Sep gasoline (RBU13 +0.29%) is up +0.0011 (+0.04%). Sep crude oil and gasoline prices on Thursday climbed to 2-week highs and settled higher on concern that the civil unrest in Egypt will escalate and threaten the supplies of Middle East crude oil through the Suez Canal. Other bullish factors included (1) the weaker dollar and (2) the decline in U.S. weekly jobless claims to a 5-3/4 year low. Closes: CLU3 +0.48 (+0.45%), RBU3 +0.0015 (+0.05%).
|US||0830 ET||Q2 non-farm productivity expected +0.6%, Q1 +0.5%. Q2 unit labor costs expected +1.2%, Q1 -4.3%.|
|0830 ET||July housing starts expected +7.7% to 900,000, Jun -9.9% to 836,000. July building permits expected +2.9% to 945,000, Jun -6.8% to 918,000.|
|0955 ET||Preliminary U.S. Aug University of Michigan consumer confidence expected +0.1 to 85.2, July +1.0 to 85.1.|
|EUR||0500 ET||Revised Eurozone July CPI, previous +0.1% m/m and +1.6% y/y. Revised July core CPI, previous +1.1% y/y.|
|0500 ET||Eurozone Jun trade balance (sa), May +14.6 billion euros.|
|CHI||2130 ET||China July property prices.|
|UK||1901 ET||UK Aug Rightmove house prices, July +0.3% m/m and +4.8% y/y.|
|JPN||1950 ET||Japan July trade balance expected -803.0 billion yen, Jun -182.3 billion yen. July exports expected +15.4% y/y, Jun +7.4% y/y. July imports expected +18.9% y/y, Jun +11.8% y/y.|