Japan Jan PPI fell -1.3% m/m, over twice expectations of -0.6% m/m and the biggest monthly decline in 6 years. On an annual basis, Jan PPI rose +0.3% y/y, less than expectations of +1.1% y/y and the slowest pace of increase in 2-3/4 years.
Japan Dec machine orders jumped +8.3% m/m, more than expectations of +2.3% m/m and the largest monthly gain in 6 months. On an annual basis, Dec machine orders rose +11.4% y/y, better than expectations of +5.6% y/y and the largest annual increase in 8 months.
Eurozone Dec industrial production was unch m/m and fell -0.2% y/y, weaker than expectations of +0.2% m/m and +0.3% y/y.
Equity conferences during the remainder of this week include: Goldman Sachs Technology & Internet Conference on Tue-Thu, Aviation Festival Asia on Wed-Thu, Bank of America Merrill Lynch Insurance Conference on Wed-Thu, Leerink Swann Global Health Care Conference on Wed-Thu, Bank of America Merrill Lynch Rates and Currencies Risk Management Conference on Wed-Thu, BB&T Capital Markets Transportation Services Conference on Wed-Thu, and Morgan Stanley Chemicals Corporate Access Day on Thu.
Whole Foods Markets (WFM +0.91%) rose more than 2% in pre-market trading after it reported Q1 EPS of 46 cents, higher than consensus of 45 cents.
Oceaneering (OII -0.57%) fell over 3% in after-hours trading after it reported Q4 EPS of 99 cents, right on consensus, but then lowered guidance on fiscal 2015 EPS to $3.10-$3.50, well below consensus of $3.92.
Baidu (BIDU -2.17%) dropped 9% in after-hours trading after it reported Q4 EPS of $1.61, below consensus of $1.65.
Tesla (TSLA -1.61%) slid over 7% in after-hours trading after it reported a Q4 adjusted EPS loss of -13 cents, much weaker than consensus of 31 cents.
Equifax (EFX unch) reported Q4 EPS of $1.02, higher than consensus of $1.01.
Tesoro (TSO -0.92%) reported Q4 EPS of $1.46, below consensus of $1.51.
NVIDIA (NVDA -0.67%) jumped 5% in after-hours trading after it reported Q4 EPS of 43 cents, well above consensus of 29 cents.
Northeast Utilities (NU -2.51%) reported Q4 EPS ex-items of 72 cents, higher than consensus of 69 cents.
C&J Energy (CJES -0.95%) reported Q4 adjusted EPS of 54 cents, stronger than consensus of 43 cents.
Catalent (CTLT +5.16%) reported Q2 adjusted EPS of 44 cents, well above consensus of 34 cents.
NetApp (NTAP +0.89%) slid over 5% in after-hours trading after it reported Q3 EPS of 75 cents, less than consensus of 77 cents.
MetLife (MET +0.76%) reported Q4 operating EPS of $1.38, above consensus of $1.36.
Applied Materials (AMAT -0.08%) reported Q1 adjusted EPS of 27 cents, right on consensus, although Q1 revenue of $2.36 billion was above consensus of $2.33 billion.
Insight Enterprises (NSIT +0.54%) reported Q4 adjusted EPS of 55 cents, below consensus of 58 cents.
Skechers (SKX +5.15%) reported Q4 EPS of 43 cents, right on consensus, although Q4 revenue of $569.7 million was better than consensus of $542.75 million.
Mar 10-year T-notes (ZNH15 -0.32%) this morning are down -12.5 ticks at a 5-week low. Mar 10-year T-note futures prices on Wednesday closed unchanged. Closes: TYH5 unch, FVH5 unch. Bullish factors included (1) increased safe-haven demand as stocks fell early, and (2) strong foreign demand for the Treasury's $24 billion 10-year T-note auction after indirect bidders, a class of investors that includes foreign central banks, purchased 59.5% of the total auction, above the 12-auction average of 46.3% and the most in 3 years. T-notes shed their gains late in the day after stocks recovered.
The dollar index (DXY00 -0.37%) this morning is down -0.333 (-0.35%). EUR/USD (^EURUSD) is up +0.0008 (+0.07%). USD/JPY (^USDJPY) is down -0.67 (-0.56%). The dollar index on Wednesday rose to a 2-week high and closed higher: Dollar index +0.227 (+0.24%), EUR/USD +0.00139 (+0.12%), USD/JPY +1.017 (+0.85%). Bullish factors included (1) the ongoing Greek debt financing situation along with concern that a failure in the Ukraine/Russian peace talks may lead to an expanding conflict in Ukraine, and (2) the rally in USD/JPY to a 5-week high as a rally in stocks curbed the safe-haven demand for the yen.
Mar WTI crude oil (CLH15 +3.15%) this morning is up +$1.28 a barrel (+2.62%) and Mar gasoline (RBH15 +1.07%) is up +0.0109 (+0.71%). Mar crude oil and Mar gasoline on Wednesday closed lower: CLH5 -1.18 (-2.36%), RBH5 -0.0091 (-0.59%). Bearish factors included (1) the rally in the dollar index to a 2-week high, (2) the +4.87 million bbl increase in EIA crude inventories to a record high of 417.9 million bbl, (3) the +1.98 million bbl increase in EIA gasoline supplies to 242.7 million bbl, a 15-year high, and (4) the +1.2 million bbl increase in crude stockpiles at Cushing, OK, delivery point of WTI futures, to 42.6 million bbl, a 1-1/2 year high.
|US||0830 ET||Weekly initial unemployment claims expected +9,000 to 287,000, previous +11,000 to 278,000. Weekly continuing claims expected unch at 2.400 million, previous +6,000 to 2.400 million.|
|0830 ET||Jan retail sales expected -0.4% and -0.5% ex autos, Dec -0.9% and -1.0% ex autos. Jan retail sales ex-autos and gas expected +0.4%, Dec -0.3%.|
|0830 ET||USDA weekly Export Sales.|
|1000 ET||Dec business inventories expected +0.2%, Nov +0.2%.|
|1100 ET||Treasury announces amount of 30-year TIPS to be auctioned Feb 19.|
|1300 ET||Treasury auctions $16 billion 30-year T-bonds.|
|JPN||0100 ET||Japan Jan machine tool orders, Dec +33.9% y/y.|
|GER||0200 ET||Revised German Jan CPI (EU harmonized), previous -1.3% m/m and -0.5% y/y.|
|EUR||0500 ET||Eurozone Dec industrial production expected +0.2% m/m and +0.3% y/y, Nov +0.2% m/m and -0.4% y/y.|
|UK||0530 ET||BOE releases quarterly inflation report.|
|Scripps Networks Interactive Inc||SNI US||Bef-mkt||Q4 2014 Earnings Release||Q4 2014||0.971|
|Dr Pepper Snapple Group Inc||DPS US||Bef-mkt||Q4 2014 Earnings Release||Q4 2014||0.881|
|BorgWarner Inc||BWA US||Bef-mkt||Q4 2014 Earnings Release||Q4 2014||0.752|
|Hospira Inc||HSP US||Bef-mkt||Q4 2014 Earnings Release||Q4 2014||0.418|
|Avon Products Inc||AVP US||Bef-mkt||Q4 2014 Earnings Release||Q4 2014||0.249|
|Nielsen NV||NLSN US||Bef-mkt||Q4 2014 Earnings Release||Q4 2014||0.797|
|Coca-Cola Enterprises Inc||CCE US||Bef-mkt||Q4 2014 Earnings Release||Q4 2014||0.562|
|International Flavors & Fragrances Inc||IFF US||Bef-mkt||Q4 2014 Earnings Release||Q4 2014||1.03|
|McGraw Hill Financial Inc||MHFI US||7:15||Q4 2014 Earnings Release||Q4 2014||0.9|
|Apache Corp||APA US||8:00||Q4 2014 Earnings Release||Q4 2014||0.757|
|Nielsen NV||NLSN US||8:00||Q4 2014 Earnings Call||Q4 2014|
|WW Grainger Inc||GWW US||8:00||January 2015 Sales and Revenue Call||2015|
|WW Grainger Inc||GWW US||8:00||January 2015 Sales and Revenue Release||2015|
|Kellogg Co||K US||8:00||Q4 2014 Earnings Release||Q4 2014||0.924|
|MetLife Inc||MET US||8:00||Q4 2014 Earnings Call||Q4 2014|
|Tesoro Corp||TSO US||8:30||Q4 2014 Earnings Call||Q4 2014|
|Equifax Inc||EFX US||8:30||Q4 2014 Earnings Call||Q4 2014|
|McGraw Hill Financial Inc||MHFI US||8:30||Q4 2014 Earnings Call||Q4 2014|
|Northeast Utilities||NU US||9:00||Q4 2014 Earnings Call||Q4 2014|
|Martin Marietta Materials Inc||MLM US||9:00||Analyst and Investor Day||Y 2015|
|Hospira Inc||HSP US||9:00||Q4 2014 Earnings Call||Q4 2014|
|AGL Resources Inc||GAS US||9:00||Q4 2014 Earnings Call||Q4 2014|
|Avon Products Inc||AVP US||9:00||Q4 2014 Earnings Call||Q4 2014|
|BorgWarner Inc||BWA US||9:30||Q4 2014 Earnings Call||Q4 2014|
|Kellogg Co||K US||9:30||Q4 2014 Earnings Call||Q4 2014|
|Scripps Networks Interactive Inc||SNI US||10:00||Q4 2014 Earnings Call||Q4 2014|
|Coca-Cola Enterprises Inc||CCE US||10:00||Q4 2014 Earnings Call||Q4 2014|
|International Flavors & Fragrances Inc||IFF US||10:00||Q4 2014 Earnings Call||Q4 2014|
|Dr Pepper Snapple Group Inc||DPS US||11:00||Q4 2014 Earnings Call||Q4 2014|
|Charles Schwab Corp/The||SCHW US||11:30||Investor Conference||Y 2015|
|Apache Corp||APA US||14:00||Q4 2014 Earnings Call||Q4 2014|
|Kraft Foods Group Inc||KRFT US||16:00||Q4 2014 Earnings Release||Q4 2014||0.73|
|CBS Corp||CBS US||16:30||Q4 2014 Earnings Call||Q4 2014|
|Republic Services Inc||RSG US||17:00||Q4 2014 Earnings Call||Q4 2014|
|DaVita HealthCare Partners Inc||DVA US||17:00||Q4 2014 Earnings Call||Q4 2014|
|Kraft Foods Group Inc||KRFT US||17:00||Q4 2014 Earnings Call||Q4 2014|
|American International Group Inc||AIG US||Aft-mkt||Q4 2014 Earnings Release||Q4 2014||1.045|
|Republic Services Inc||RSG US||Aft-mkt||Q4 2014 Earnings Release||Q4 2014||0.481|
|DaVita HealthCare Partners Inc||DVA US||Aft-mkt||Q4 2014 Earnings Release||Q4 2014||0.896|
|CBS Corp||CBS US||Aft-mkt||Q4 2014 Earnings Release||Q4 2014||0.762|
|Assurant Inc||AIZ US||Aft-mkt||Q4 2014 Earnings Release||Q4 2014||1.663|
|Varian Medical Systems Inc||VAR US||19:30||Annual General Meeting||Y 2015|