Friday, September 23, 2011

Barchart Morning Call 9/23

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are lower with the Euro Stoxx 50 down -1.13% and Dec S&Ps down -7.90 points. The dollar is little changed and commodities are weaker with copper plunging to a 14-month low and crude oil sliding to a 1-1/2 month low. The 10-year German bund yield fell to a record low 1.642% after European bank bond spreads soared as concern increased the financial system is in jeopardy as the economy slows and Greece flirts with default. The Barclays Capital Euro Aggregate Banking Senior Index rose 17 bp to a record 339, higher than the 325 bp reached in Dec 2008 after Lehman Brothers collapsed. The euro shed early gains and turned lower after ECB Council member Coene said the ECB may act to address risks to growth as soon as next month should economic data disappoint, which fueled speculation of an ECB interest rate cut. U.S. and European stocks fell even after the Group of 20 finance chiefs meeting in Washington said they are "committed to a strong and coordinated international response to address the renewed challenges facing the global economy." The Sep French consumer confidence indicator fell -2 to a 2-1/2 year low of 80 as the European debt crisis takes its toll on consumer attitudes. Dollar demand remains strong as the 3-month dollar Libor rate rose for the 11th consecutive day to a 13-month high of 0.36022%.
  • Asian stocks today closed lower with Japan closed for holiday, China down -0.60%, Australia -1.56%, South Korea -5.79%, India -1.22%. Asian exporters moved lower on concern a slowdown in global economic growth will sap demand for the region's exports. China's Shanghai Stock Index tumbled to a 14-month low, led by losses in energy producers and mining companies, as fears of a global recession pummel commodity prices. Losses in Chinese stocks were limited after the Securities Times reported that China's social security fund plans to invest more than 10 billion yuan ($1.6 billion) in the nation's stock market.
Overnight U.S. Stock News
  • December S&Ps this morning are trading down -7.90 points. The US stock market yesterday plummeted on concern the global economy is heading toward another recession: Dow Jones -3.51, S&P 500 -3.19, Nasdaq Composite -3.25%. The S&P 500 fell to a 1-month low, the Dow dropped to a 1-1/2 month low and the Nasdaq posted a 1-week low. Bearish factors included (1) concern that the global economy maybe heading toward recession after the Sep China HSBC manufacturing PMI contracted for a third month and the Sep Euro-Zone PMI composite contracted at its weakest level in over 2 years, (2) the larger-than-expected filing of weekly initial U.S. unemployment claims (-9,000 to 423,000 versus expectations of -8,000 to 420,000), (3) carry-over weakness from a slump in European bank stocks after Standard & Poor's cut the credit ratings of Italian banks Intesa Sanpaolo and Mediobanca to A with a negative outlook and lowered the outlook for 8 other Italian banks, including Italy's biggest lender UniCredit SpA, to negative from stable, and (4) a slump in energy and raw material producers on concern demand for commodities will falter amid an economic slowdown.
  • Bullish factors included (1) the larger-than-expected increase in the Jul FHFA house purchase price index which posted its biggest monthly gain in 5-3/4 years (+0.8% m/m versus expectations of +0.1% m/m), (2) the larger-than-expected increase in Aug leading indicators which gained for the fourth consecutive month (+0.3% m/m versus expectations of +0.1% m/m), and (3) the fall in the 10-year T-note yield to a record low 1.695%.
  • Freeport-McMoRan (FCX) fell 1.6% in European trading as metals prices sank, with copper dropping to a 14-month low.
Today's Market Focus
  • December 10-year T-notes this morning are down -5.5 ticks. T-note prices yesterday rallied sharply on increased safe-haven demand as global equity markets tumbled over concern world economic growth was grinding to a halt along with carry-over support from Wednesday's Fed announcement that it will increase its long-term Treasury holdings: TYZ11 +1-00/32, FVZ11 +12, EDH12 -3.5. The 10-year T-note yield fell to an all-time low of 1.695%. Bullish factors included (1) global economic growth concerns after the Sep China HSBC manufacturing PMI contracted for a third month and the Sep Euro-Zone PMI composite contracted at its weakest level in over 2 years, (2) carry-over support from Wednesday's Fed announcement that it will increase its long-term Treasury holdings by $400 billion, and (3) increased safe-haven demand after global equity markets plunged. Bearish factors included (1) the larger-than-expected increase in the Jul FHFA house purchase price index which posted its biggest monthly gain in 5-3/4 years (+0.8% m/m versus expectations of +0.1% m/m) and (2) the larger-than-expected increase in Aug leading indicators which gained for the fourth consecutive month (+0.3% m/m versus expectations of +0.1% m/m).
  • The dollar index this morning is higher with the dollar/yen +0.02 yen and the euro/dollar -0.15 cents. The dollar index yesterday rallied sharply to a 7-1/4 month high on concern that global economic growth is stalling and on increased safe-haven demand as world stock markets plunged: Dollar Index +1.113, USDJPY -0.211, EURUSD -0.01079. Bullish factors included (1) the slump in the euro to an 8-month low against the dollar after the Sep Euro-Zone PMI composite index contracted for the first time in over 2 years and Sep Euro-Zone consumer confidence fell to a 2-year low, (2) weakness in Chinese manufacturing that may further weaken the global economy after the Sep China HSBC manufacturing PMI contracted for a third month, (3) the increase in the 3-month dollar Libor rate for the 10th straight day to a 13-month high of 0.35806%, a sign of strong dollar demand, (4) increased safe-haven demand for the dollar on concern the European debt crisis may worsen after The European Union's financial-services commissioner told the Le Figaro newspaper that he can't rule out that some European banks will need state aid, and (5) a surge in the safe-haven demand for the dollar as global stock markets sold off.
  • Nov crude oil prices this morning are down -$1.58 a barrel at a 1-1/2 month low and Nov gasoline is -1.00 cent per gallon. Crude oil and gasoline prices plunged yesterday after the dollar surged and after Chinese and European manufacturing growth contracted: CLX11 -$5.41, RBX11 -11.27. Nov crude fell to a 1-month low, Nov gasoline slipped to a 1-1/2 month low and nearest-futures Oct gasoline tumbled to a 7-1/4 month low. Bearish factors included (1) the rally in the dollar index to a 7-1/4 month high, which discourages investment demand in commodities, (2) concern a slowdown in global economic growth will decimate energy demand after the Fed warned late Wednesday of “significant downside risks” to the U.S. economy, the Sep Euro-Zone PMI composite index weakened to a 2-year low and the Sep China HSBC manufacturing PMI contracted for a third month, (3) the plunge in global equity markets which undercuts confidence in the economic outlook and energy demand, and (4) the action by Goldman Sachs to cut its 3-month crude oil price forecast to $97.50 a barrel from a previous estimate of $115 a barrel. Bullish factors included (1) the larger-than-expected increase in Aug U.S. leading indicators and (2) the possibility of OPEC production cuts after an unnamed OPEC official said OPEC will make a collective decision on whether to cut supply at the cartel’s next meeting in Dec as it monitors the global economy and the pace of Libya’s output recovery.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): NSM-National Semiconductor (BEST earnings consensus $0.27), AMN-Ameron (0.61), KBH-KB Home (-0.16), PKE-Park Electrochemical (0.38).
Global Financial Calendar
Friday 9/23/11
United States
1400 ET New York Fed President William Dudley speaks on a panel in Washington D.C. discussing “Readiness for the Next Financial Crisis.”
1400 ET San Francisco Fed President John Williams speaks on “Unconventional Monetary Policy” at the SNB Research Conference in Zurich, Switzerland.
France
0245 ET Sep French consumer confidence index expected -3 to 83.
0245 ET Revised Q2 French wages expected no change at 0.6% q/q.
0245 ET Sep French business confidence indicator expected -5 to 100, Aug
Euro-Zone
1630 ET ECB President Jean-Claude Trichet delivers closing remarks at the Bretton Woods Committee’s International Council in Washington.
Japan
n/a Japanese markets closed for Autumnal Equinox Day.

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General Mills (GIS) Barchart Chart of the Day

Barchart.coms Chart of the Day - General Mills (GIS)
Related Stocks
GIS - General Mills
Sym Last Chg Pct
GIS 39.50 +1.06 +2.76%
The "Chart of the Day" is General Mills (GIS), which showed up on Thursday's Barchart "All Time High" list. General Mills on Thursday rallied by 2.76% and edged above the May 2011 high of $39.67 to post a new all-time high of $39.80. TrendSpotter has been Long on General Mills since Aug 31 at 37.91. General Mills on Wednesday reported fiscal Q1 EPS of 64 cents, above the consensus of 62 cents. Management said it expects the company's pace of growth to strengthen as the year unfolds. Gabelli on Thursday reiterated its Buy rating on General Mills and said that the company's profitability can improve further on the faster growth in its higher-margin categories. General Mills, with a market cap of $24 billion, is one of the world's largest producers of packaged consumer foods.
gis_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: 100% Buy
  • Medium-Term Indicators: 50% Buy
  • Long-Term Indicators: 33% Buy
  • Overall Average 72% Buy


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Income Statement-Quarterly
Income Statement-Annual
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Balance Sheet-Annual


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Thursday, September 22, 2011

Barchart Morning Call 9/22

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are slumping with the Euro Stoxx 50 down -4.14% and Dec S&Ps down -28.40 points. The dollar index soared to a 7-month high and commodities tumbled, with copper at a 1-year low and crude at a 1-month low after the Fed signaled "significant downside risks" to the economy in yesterday's post-FOMC statement. European and U.S. bond markets rallied sharply with the 10-year German bund yield posting a record low of 1.667% and the 10-year Treasury yield at an all-time low of 1.793%. The euro sank to a 7-1/4 month low against the dollar after the Sep Euro-Zone PMI composite index fell -1.5 to 49.2, weaker than expectations of -0.9 to 49.8 and its fastest pace of contraction in over 2 years. European bank stocks retreated after Standard & Poor's cut the credit ratings of Italian banks Intesa Sanpaolo and Mediobanca to A with a negative outlook and lowered the outlook for 8 other Italian banks, including Italy's biggest lender UniCredit SpA, to negative from stable. The European Union's financial-services commissioner told the Le Figaro newspaper that he can't rule out that some European banks will need state aid.
  • Asian stocks today closed lower with Japan down -2.07%, China -3.08%, Australia -2.63%, South Korea -3.11%, India -4.13%. Asian exporters tumbled on concern a slowing global economy will limit demand for the region's exports. Chinese stocks fell after the Sep China HSBC flash manufacturing PMI slipped -0.4 to 49.4, its third month of contraction and a sign of a slowdown in Chinese manufacturing. Chinese property developers also sank after Credit Suisse Group AG said that the risk of default by developers is rising on possible credit tightening and weak sales, citing a Reuters report that the China Banking Regulatory Commission ordered trust companies to inform the regulator of business dealings with Greentown China Holdings Ltd., a sign that China is trying to restrict financing sources for developers. A slump in Japanese bank stocks led Japanese shares lower after BNP Paribas said Japan's banking industry is "deteriorating." BNP Paribas initiated coverage on 7 of Japan's largest banks, saying they have little chance of improving profitability.
Overnight U.S. Stock News
  • December S&Ps this morning are trading sharply lower by -28.40 points. The US stock market yesterday traded with modest losses after Moody's cut Bank of America's and Wells Fargo's debt ratings but then plunged into the close after the Fed cited risks to the economic outlook: Dow Jones -2.49, S&P 500 -2.94, Nasdaq Composite -2.01%. Bearish factors included (1) the warning from the European Systemic Risk Board that the risks to Europe's financial system have increased "considerably" as the sovereign debt crisis weakens economic growth and pressures banks, (2) carry-over weakness from a fall in European bank stocks after the IMF warned that the European debt crisis has generated as much as 300 billion euros ($410 billion) in credit risk for European banks, (3) a sell-off in U.S. bank stocks after Moody's Investors Service cut Bank of America's long-term senior debt rating to Baa1 from A2 and cut Wells Fargo's senior debt rating to A2 from A1, (4) a slump in coal companies and railroad stocks after Alpha Natural Resources and Walter Energy cut their earnings forecasts, which prompted a slide in railroad stocks on concern shipping demand from the coal industry will weaken, and (5) the post-FOMC statement that said "There are significant downside risks to the economic outlook, including strains in global financial markets."
  • Bullish factors included (1) the larger-than-expected increase in Aug U.S. existing home sales which rose to their best level in 5 months (+7.7% to 5.03 million versus expectations of +1.7% to 4.75 million) and (2) the fall in the 10-year T-note yield to a record low 1.851%.
  • Bank of America (BAC) fell 1.9% and Wells Fargo (WFC) slid 1.6% in pre-market trading on carry-over weakness from a drop in global bank stocks.
Today's Market Focus
  • December 10-year T-notes this morning are up +23.5 ticks as the 10-year T-note yield has fallen to a record low of 1.793% in overnight trade. T-note prices yesterday moved higher after the IMF warned of increased risks for European banks and after the Fed announced its "Operation Twist" program: TYZ11 +9, FVZ11 -5, EDH12 -4.0. The 10-year T-note yield fell to an all-time low of 1.851%. Bullish factors included (1) increased safe-haven demand for Treasuries on concerns over the global banking system after the IMF warned that the European debt crisis has generated as much as 300 billion euros ($410 billion) in credit risk for European banks and after Moody's Investors Service cut Bank of America's long-term senior debt rating to Baa1 from A2 and cut Wells Fargo's senior debt rating to A2 from A1, (2) the warning from the European Systemic Risk Board that the risks to Europe's financial system have increased "considerably" as the sovereign debt crisis weakens economic growth and pressures banks, and (3) the Fed's announcement that it will implement "Operation Twist" in which it will buy $400 billion of bonds with maturities of six to thirty years through Jun while selling an equal amount of debt maturing in 3 years or less saying the action is intended to "put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative." A bearish factor was the larger-than-expected increase in Aug U.S. existing home sales which rose to their best level in 5 months (+7.7% to 5.03 million versus expectations of +1.7% to 4.75 million).
  • The dollar index this morning is stronger and at a 7-month high with the dollar/yen -0.21 yen and the euro/dollar -1.29 cents. The dollar index yesterday strengthened after the IMF warned of increased risk for European banks and the Fed said it will increase its holdings of long-term Treasuries: Dollar Index +0.312, USDJPY -0.005, EURUSD -0.01285. Bullish factors included (1) increased safe-haven demand for the dollar after the IMF warned that the European debt crisis has generated as much as 300 billion euros ($410 billion) in credit risk for European banks, (2) the stronger-than-expected Aug U.S. existing home sales, (3) the slump in the British pound to an 8-1/4 month low against the dollar after the minutes of the Sep 7-8 BOE policy meeting stated that most policy makers said it was "increasingly probable that further asset purchases to loosen monetary conditions would become warranted at some point," (4) the Fed's announcement that it will implement its dollar neutral "Operation Twist" in which it will buy $400 billion of 6 to 30-year Treasuries and sell $400 billion of debt maturing in 3 years or less, and (5) continued strong demand for dollars as the 3-month dollar Libor rate rose for the 9th straight day to 0.35556%, the highest in 13-months. Bearish factors included (1) reduced safe-haven demand for the dollar on optimism Greece will be able to obtain additional aid to keep it from defaulting on its debt and (2) the rally in the yen to a 1-month high against the dollar on increased risk aversion demand on concern the global economy is slowing.
  • Nov crude oil prices this morning are down -$3.80 a barrel at a 1-month low and Nov gasoline is -8.88 cents per gallon. Crude oil and gasoline prices moved higher after weekly DOE crude inventories fell to an 8-month low but they shed their gains and closed lower after the dollar rallied : CLX11 -$1.00, RBX11 -2.79. Bearish factors included (1) the stronger dollar, which discourages investment demand in commodities, (2) the larger-than-expected gain in weekly DOE gasoline inventories (+3.30 million bbl versus expectations of +1.3 million bbl), (3) the unexpected increase in the refinery utilization rate, which bodes well for increased supplies of gasoline and distillates in the weeks ahead (+1.3 to 88.3% versus expectations of -0.3 to 86.7%, and (4) data from the DOE that said U.S. oil production in the week ended Sep 16 surged 13% w/w to an 8-year high of 5.75 million barrels a day. Bullish factors included (1) the larger-than-expected fall in weekly DOE crude inventories to an 8-month low (-7.34 million bbl to 339 million bbl versus expectations of -1.2 million bbl), and (2) the unexpected decline in weekly DOE distillate supplies (-874,999 bbl versus expectations of +1.0 million bbl).
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): NKE-Nike (BEST earnings consensus $1.21), FDX-FedEx (1.45), DFS-Discover Financial Services (0.96), KMX-CarMax (0.51), CTAS-Cintas (0.48), TIBX-TIBCO Software (0.21), MTN-Vail Resorts (-1.51), FINL-Finish Line (0.38), RAD-Rite Aid (-0.18), SCHL-Scholastic (-1.03).
Global Financial Calendar
Thursday 9/22/11
United States
0830 ET Weekly initial unemployment claims expected -8,000 to 420,000, previous +11,000 to 428,000. Weekly continuing claims expected -4,000 to 3.722 million, previous 12,000 to 3.726 million.
1000 ET Aug leading indicators expected +0.1%, Jul +0.5%.
1000 ET Jul FHFA house price index purchase only expected +0.1% m/m, Jun +0.9% m/m.
1100 ET Treasury announces amounts of 2-year T-notes (previous $35 billion), 5-year T-notes (previous $35 billion) and 7-year T-notes (previous $29 billion) to be auctioned Sep 27-29.
1300 ET Treasury auctions $11 billion 10-year TIPS.
1630 ET Weekly money supply report and Fed balance sheet.
France
0300 ET Sep French PMI manufacturing expected -0.6 to 48.5. Aug -1.4 to 49.1.
0300 ET Sep French PMI services expected -2.6 to 54.2, Aug +2.6 at 56.8.
Germany
0330 ET Sep German PMI manufacturing expected -0.4 to 50.5, Aug -1.1 to 50.9.
0330 ET Sep German PMI services expected -0.6 to 50.5, Aug -1.8 to 51.1.
Euro-Zone
0400 ET Sep Euro-Zone PMI composite expected -0.9 to 49.8, Aug -0.4 to 50.7.
0500 ET Jul Euro-Zone industrial new orders expected -1.2% m/m and +10.5% y/y, Jun -0.9% m/m and +11.1%.
1000 ET Sep Euro-Zone consumer confidence -1.5 to -18.0, Aug -5.3 to -16.5.
Canada
0830 ET Jul Canada retail sales -0.4% m/m and +0.1% less autos, Jun +0.7% and -0.1% less autos.

Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.

Range Resources (RRC) Barchart Chart of the Day

Barchart.coms Chart of the Day - Range Resources (RRC)
Related Stocks
RRC - Range Resources Corp.
Sym Last Chg Pct
RRC 67.96 +3.07 +4.73%
The "Chart of the Day" is Range Resources (RRC), which showed up on Wednesday's Barchart "All Time High" list. Range Resources on Wednesday rallied by 4.73% and posted a new all-time high of $77.24. TrendSpotter has been Long on Range Resources since Sep 1 at $65.12. Range Resources is being boosted by unconfirmed rumors that the company is a takeover target. WSJ reported on Wednesday that Range Resources has not been formally approached by Shell and that there are no formal talks between the two companies. JP Morgan on Wednesday said it is skeptical of the takeover rumors but noted that it is maintaining its Overweight rating. Range Resources, with a market cap of $10 billion, acquires, develops, and finances oil and gas properties in the U.S.

rrc_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

Wednesday, September 21, 2011

AT&T for income

COMPLETE ARTICLE AND GRAPHS

An old favorite income stock AT&T (T) has been in the news lately for its attempted purchase and merger of Deutche Telekom's US operations known as T-Mobile.  There is a lot of opposition lining up against it but that "bad" press has made the recent weakness in price an even better bargain for income investors.




Barchart technical indicators:

  • Negative technical price momentum indicators on an income stock can be a signal to acquire dividends at a bargain price
  • 40% Barchart short term technical buy signals getting stronger showing an upward momentum
  • Trend Spotter technical sell signal weakening
  • Above its 20 day moving average but still below its 50 and 100 day moving averages
  • Just 8.15% off its 1 year high
  • Relative Strength Index 53.84% and getting stronger
  • Barchart computes a technical support level at 28.41
  • Recently priced at 28.94 which is below its 50 day moving average of 29.12

Summary: If you are looking of a long term conservative income holding you might want to consider AT&T (T) for an addition to your portfolio.  At today's price the 6%+ dividend is attractive and if earnings projections and increases in the P/E ratio happen investors at this price could see an annual total return of 13-15% annually over the next 5 years.

Jim Van Meerten is a Marketocracy Master







Barchart Morning Call 9/21

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are mostly higher with the Euro Stoxx 50 down -0.85% and Dec S&Ps up +1.00 point. The dollar, U.S. stock futures and most commodities gained on speculation the Fed may announce further stimulus measures today following the conclusion of its 2-day FOMC meeting. The market is expecting the Fed to say it will replace short-term Treasuries in its $1.65 trillion portfolio with long-term bonds. European stocks declined as officials said they plan to return to Greece next week to complete a review of the Greek economy. The British pound declined to an 8-1/4 month low against the dollar after the minutes of the Sep 7-8 BOE policy meeting stated that most policy makers said it was "increasingly probable that further asset purchases to loosen monetary conditions would become warranted at some point" as growth in the second half of 2011 may be "materially weaker" than projected in Aug.
  • Asian stocks today closed mostly higher with Japan up +0.23%, China +3.02%, Australia +0.78%, South Korea +0.83%, India -0.20%. Asian stocks were boosted on speculation the Fed may announce additional stimulus measures along with optimism that Greece will receive additional aid to avoid a default. Gains in Japanese stocks were limited after the yen rose to a 1-month high, just below its post-WWII high made last month, while Aug Japan exports rose +2.8% y/y, weaker than expectations of +8.0% y/y. Prime Minister Noda unveiled a plan to help companies respond to the yen's appreciation by pledging to grant "large" subsidies for domestic construction of factories. The Aug South Korean unemployment rate unexpectedly fell -0.2 to a 3-year low of 3.1%, which may prompt the BOK to extend its rate tightening cycle. The BOK has raised the benchmark interest rate 3 times this year as inflation has exceeded the central bank's 4% target since Jan.
Overnight U.S. Stock News
  • December S&Ps this morning are trading up +1.00 point. The US stock market yesterday erased an early rally after U.S. housing starts fell more than expected, but recovered and finished the day mixed on optimism Greece will satisfy requirements for additional aid and that the Fed will provide additional stimulus to spur growth: Dow Jones +0.07, S&P 500 -0.17, Nasdaq Composite -0.86%. The S&P 500 and the Dow posted 2-week highs and the Nasdaq climbed to a 1-1/2 month high. Bullish factors included (1) optimism that Greece will receive additional aid to avoid default after the EU said that Greek Finance Minister Venizelos made "good progress" in a second round of talks Tuesday between them and the IMF, (2) the unexpected increase in Aug U.S. building permits to their best level in 8 months (+3.2% to 620,000 versus expectations of -1.8% to 590,000), and (3) speculation the Fed will provide additional stimulus measures to spur economic growth.
  • Bearish factors included (1) concern the European sovereign-debt crisis will worsen after credit default swaps to insure Italian government debt rose to a record when Standard & Poor's cut Italy's credit rating one notch to A from A+, (2) the action by the IMF to cut its 2011 global growth estimate to 4.0% from a Jun forecast of 4.3% and the cut in its 2012 global GDP estimate to 4.0% from 4.5% forecast in Jun, (3) the warning from the IMF that if European leaders fail to contain the debt crisis the threat to the global economy could be "significant," and (4) the larger-than-expected decline in Aug U.S. housing starts to a 3-month low (-5.0% to 571,000 versus expectations of -2.3% to 590,000).
  • Oracle (ORCL) rose 3.2% in European trading after the company reported Q1 earnings late yesterday of 48 cents a share, ahead of analysts' estimates of 47 cents.
Today's Market Focus
  • December 10-year T-notes this morning are unchanged. T-note prices yesterday fluctuated between minor gains and losses throughout the day and settled slightly lower as optimism Greece will receive additional aid offset the action by the IMF to cut its global growth estimates: TYZ11 -2.5, FVZ11 -1.7, EDH12 +2.5. Bearish factors included (1) reduced safe-haven demand for Treasuries after the stock market rallied on optimism that Greece will receive further aid to keep it from default and (2) the unexpected increase in Aug U.S. building permits to their best level in 8 months (+3.2% to 620,000 versus expectations of -1.8% to 590,000). Bullish factors included (1) increased safe-haven demand for Treasuries on concern the European sovereign-debt crisis will worsen after credit default swaps to insure Italian government debt rose to a record when Standard & Poor's cut Italy's credit rating one notch to A from A+, (2) the action by the IMF to cut its 2011 global growth estimate to 4.0% from a Jun forecast of 4.3% and the cut in its 2012 global GDP estimate to 4.0% from 4.5% forecast in Jun, (3) the warning from the IMF that if European leaders fail to contain the debt crisis the threat to the global economy could be "significant," (4) the larger-than-expected decline in Aug U.S. housing starts to a 3-month low (-5.0% to 571,000 versus expectations of -2.3% to 590,000), and (5) speculation that the Fed will announce at the conclusion of its 2-day policy meeting on Wed that it will increase its holdings of longer maturity Treasuries in an attempt to keep borrowing costs down.
  • The dollar index this morning is higher with the dollar/yen -0.12 yen and the euro/dollar -0.55 cents. The dollar index yesterday fell back on optimism Greece will be able to obtain additional aid to keep it from defaulting on its sovereign debt along with the greater-than-expected decline in Aug U.S. housing starts: Dollar Index -0.116, USDJPY -0.133, EURUSD +0.00138. Bearish factors included (1) reduced safe-haven demand for the dollar as the stock market rallied on optimism Greece will be able to obtain additional aid to keep it from defaulting on its debt and (2) the greater-than-expected decline in Aug U.S. housing starts, which may prompt the Fed into additional dollar negative stimulus measures to bolster the economy. Bullish factors included (1) increased safe-haven demand for the dollar after the IMF cut its global GDP forecasts for 2011 and 2012 and warned that if European leaders fail to contain the debt crisis the threat to the global economy could be "significant," (2) the action by Standard & Poor's to cut Italy's credit rating one notch to A from A+, which is euro negative, (3) the decline in the Sep German ZEW economic sentiment to a 2-1/2 year low of -43.3, and (4) continued strong demand for dollars as the 3-month dollar Libor rate rose for the 8th straight day to 0.35500%, the highest in 13-months.
  • Nov crude oil prices this morning are down -67 cents a barrel and Oct gasoline is up +0.47 of a cent per gallon. Crude oil and gasoline prices yesterday moved higher due to a weak dollar, strength in the equity market and on speculation the Fed will provide more stimulus to bolster economic growth: CLX11 +$1.11, RBX11 +0.92. Nov gasoline recovered from a 1-1/4 month low and settled higher. Bullish factors included (1) the weaker dollar, which encourages investment demand in commodities, (2) strength in the stock market, which bolsters confidence in the economic outlook and energy demand, (3) speculation the Fed at the conclusion of the 2-day FOMC meeting on Wednesday, may provide additional stimulus to spur economic growth, and (4) the outlook for U.S crude inventories to slide to an 8-month low when the DOE reports its weekly figures on Wed. Bearish factors included (1) the action by the IMF to cut its global growth estimates for 2011 and 2012, which suggests decreased fuel demand and (2) the slide in Aug German ZEW economic sentiment to a 2-1/2 year low, which may lead to slower economic growth and diminished energy demand. Expectations for Wednesday's weekly DOE inventory report are for crude oil supplies to fall -1.3 million bbl, gasoline stockpiles to rise +1.3 million bbl, distillate inventories to increase +1.0 million bbl and the refinery capacity rate to fall -0.3 to 86.7%.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): GIS-General Mills (BEST earnings consensus $0.62), BBBY-Bed Bath & Beyond (0.84), RHT-Red Hat (0.25), IHS-IHS Inc. (0.84), FUL-HB Fuller (0.47), SCS-Steelcase (0.17).
Global Financial Calendar
Wednesday 9/21/11
United States
0700 ET Weekly MBA mortgage applications, previous +4.9% with purchase mortgage sub-index +1.8% and refinancing sub-index +6.0%.
1000 ET Aug existing home sales expected +1.7% to 4.75 million, Jul -3.5% to 4.67 million.
1415 ET FOMC announces interest rate decision (expected no change to the 0.00% to 025% Fed funds rate).
Japan
0030 ET Jul Japan all industry activity index expected +0.5% m/m, Jun +2.3% m/m.
United Kingdom
0430 ET Minutes of the Sep 7-8 BOE monetary policy meeting.
0430 ET Aug U.K. public sector net borrowing expected +11.3 billion pounds, Jul -2.0 billion pounds.
Canada
0700 ET Aug Canada CPI expected +0.1% m/m and +2.9% y/y, Jul +0.2% m/m and +2.7% y/y.
0700 ET Aug Bank of Canada core CPI expected +0.2% m/m and +1.6% y/y, Jul +0.2% m/m and +1.6% y/y.

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Williams Partners (WPZ) Barchart Chart of the Day

Barchart.coms Chart of the Day - Williams Partners (WPZ)
Related Stocks
WPZ - Williams Partners L.P.
Sym Last Chg Pct
WPZ 55.98 +0.98 +1.78%
The "Chart of the Day" is Williams Partners (WPZ), which showed up on Tuesday's Barchart "All Time High" list and also received a new Buy signal from TrendSpotter. Williams Partners on Tuesday rallied by 1.78% and posted a new all-time high of $55.99. In recent news on the stock, Williams Partners on Aug 3 reported Q2 EPS of 91 cents versus the analyst consensus of 87 cents. Madison Williams on Aug 19 upgraded Williams Partners to Buy from Accumulate and raised its target to $59 from $58. Williams Partners, with a market cap of $16 billion, finds, produces, gathers, processes and transports natural gas. The company also manages a wholesale power business. Williams' operations are concentrated in the Pacific Northwest, Rocky Mountains, Gulf Coast, Southern California and Eastern Seaboard.

wpz_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: 100% Buy
  • Medium-Term Indicators: 60% Buy
  • Long-Term Indicators: 100% Buy
  • Overall Average 88% Buy


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Tuesday, September 20, 2011

Barchart Morning Call 9/20

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are mostly higher with the Euro Stoxx 50 up +1.29% and Dec S&Ps up +9.10 points. The dollar and Treasuries are weaker and most commodities stronger as Greece prepares for further talks with its main creditors to avoid a default. European stocks gained after the Greek finance ministry said yesterday's talks with the IMF, the ECB and the European Union (the "Troika") about securing a sixth installment of aid were "productive," while U.S. stock futures rose ahead of the start of the Fed's 2-day FOMC meeting in which speculation increased that the Fed will provide more stimulus for the ailing economy. The euro gave up an early advance and was little changed after credit default swaps to insure Italian government debt rose to a record when Standard & Poor's cut Italy's credit rating one notch to A from A+, saying that weakening economic growth, a "fragile" government and rising borrowing costs would make it difficult to reduce Europe's second-biggest debt load. A drop in price pressures also aided European stocks after Aug German producer prices unexpectedly fell -0.3% m/m and rose +5.5% y/y, weaker than expectations of unchanged m/m and +5.8% y/y. Limiting gains in stocks however, was the -5.7 point decline in the Sep German ZEW economic sentiment to a 2-1/2 year low of -43.3. The 3-month dollar Libor rate rose for the 8th straight day to 0.35500%, the highest in 13-months
  • Asian stocks today closed mixed with Japan down -1.61%, China +0.39%, Australia -1.01%, South Korea +0.94%, India +2.11%. Japanese stocks played catch-up with declines in global markets on Monday as Japan was closed for holiday. Japanese exporters fell as the yen rose to a 1-month high against the dollar and is just below its post WWII high of 75.95 yen per dollar set last month. China's Shanghai Index rebounded from a 14-month low and closed higher, led by gains in building material producers, after Premier Wen Jiabao said China will continue to promote the construction of public rental housing. Gains in most Asian markets were limited however; on concern a worsening of the European debt crisis may sour the earnings outlook for exporters, banks and commodity producers.
Overnight U.S. Stock News
  • December S&Ps this morning are trading up +9.10 points. The US stock market yesterday finished lower on concern the European debt crisis will worsen and Greece may default on its sovereign debt, although prices did finish off of their worst levels after Greek officials said discussions about future aid were productive: Dow Jones -0.94, S&P 500 -0.98, Nasdaq Composite -0.36%. Bearish factors included (1) carry-over weakness from a plunge in European equity markets after European finance ministers at a 2-day summit in Poland failed to offer a plan to stem the European sovereign-debt crisis, (2) concern that Greece will be denied further assistance that may prompt it to default on its debt after Swedish Finance Minister Borg said Greece "hasn't done enough" to meet its budget targets, (3) weakness in homebuilders on concern the U.S. housing slump will continue after the Sep NAHB housing market index unexpectedly fell to a 3-month low (-1 to 14 versus expectations of unchanged at 15), (4) a slump in life insurers after Wells Fargo cut its earnings estimates for the industry, citing a drop in equity prices in Q3, and (4) a sell-off in energy and raw material producers on concern a slowing global economy will dent demand for commodities.
  • Bullish factors included (1) expectations the Fed will announce additional stimulus measures at its 2-day FOMC meeting this week in an attempt to spur economic growth, (2) the monthly report from the Bundesbank which stated it expects "robust" growth in Germany for the current quarter, which may aid U.S. exports and boost economic growth, and (3) late-day comments from the Greek government that a conference call between Greek Finance Minister Venizelos, high representatives of the ECB, the European Commission and the IMF were "productive and substantial."
Today's Market Focus
  • December 10-year T-notes this morning are down -7.5 ticks. T-note prices gapped higher yesterday and finished with solid gains as a plunge in global stock markets on fear Greece is heading for default prompted strong safe-haven demand for Treasuries : TYZ11 +31.5, FVZ11 +15.5, EDH12 +0.5. Bullish factors included (1) increased safe-haven demand for Treasuries on concern the European sovereign-debt crisis will worsen and Greece will default on its debt after European officials meeting for 2 days in Poland failed to offer a plan to halt the region's debt crisis and Swedish Finance Minister Borg said Greece "hasn't done enough" to meet its budget targets, (2) the unexpected decline in the Sep NAHB housing market index which fell to a 3-month low (-1 to 14 versus expectations of unchanged at 15), and (3) expectations that the Fed will announce at this week's FOMC meeting that it will increase its holdings of long-term Treasury securities in an attempt to keep long rates down and stimulate economic growth.
  • The dollar index this morning is lower with the dollar/yen -0.02 yen and the euro/dollar +0.03 cents. The dollar index rallied yesterday on increased safe-haven demand as global equity markets and the euro tumbled when European finance ministers at a 2-day summit in Poland failed to offer a plan to stem the European sovereign-debt crisis: Dollar Index +0.603, USDJPY -0.195, EURUSD -0.01130. Bullish factors included (1) weakness in the euro on concern the European debt crisis will worsen after Swedish Finance Minister Borg at the conclusion of the 2-day summit of European finance ministers in Poland said Greece "hasn't done enough" to meet its budget targets, which may keep Greece from receiving further aid and force it into default and (2) continued strong dollar demand from European banks after the 3-month dollar Libor rate rose to 0.35250%, a 13-month high. Bearish factors included (1) the weaker-than-expected Sep NAHB housing market index, which may prompt the Fed into additional dollar negative stimulus measures to boost the economy and (2) the monthly report from the Bundesbank which stated it expects "robust" growth in Germany for the current quarter, which is euro supportive.
  • Oct crude oil prices this morning are up +83 cents a barrel and Oct gasoline is +2.40 cents per gallon. Crude oil and gasoline prices yesterday weakened on concern the European debt crisis will worsen and slow the global economy and energy demand and after OPEC's secretary-general indicated global oil consumption is less than expected: CLV11 -$2.26, RBV11 -8.76. Oct crude posted a 1-1/2 week low. Bearish factors included (1) the stronger dollar, which discourages investment demand in commodities, (2) comments from OPEC Secretary-General Abdalla El-Badri who said that global demand for oil is rising less than expected, and (3) the plunge in global equity markets on concern Greece may yet default on its sovereign debt, which would roil confidence in the global economy and energy demand. Bullish factors included (1) the monthly report from the Bundesbank which stated it expects "robust" growth in Germany for the current quarter, which should boost fuel demand and (2) the U.S. Energy Department's International Energy Outlook that predicts global energy demand will increase 53% between 2008 and 2035 with China and India accounting for half of the total growth.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): ORCL-Oracle (BEST earnings consensus $0.47), CCL-Carnival (1.64), AZO-AutoZone (6.98), ADBE-Adobe Systems (0.54), CAG-ConAgra Foods (0.31), FDS-Factset Research Systems (0.95), JEF-Jeffries Group (0.20), CPRT-Copart (0.59), ALOG-Analogic (0.62).
Global Financial Calendar
Tuesday 9/20/11
United States
0745 ET ICSC (Int?l Council of Shopping Centers) weekly retailer sales.
0830 ET Aug housing starts expected -2.3% to 590,000, Jul -1.5% to 604,000. Aug building permits expected -1.8% to 590.000, Jul -2.6% to 601,000.
0855 ET Redbook weekly retailer sales.
0900 ET FOMC begins 2-day policy meeting.
1130 ET Weekly 4-week and monthly 1-year T-bill auctions.
Japan
0100 ET Revised Jul Japan coincident index CI, previous 109.0. Revised Jul leading index CI, previous 106.0.
0130 ET Aug Japan nationwide department store sales, Jul -0.1%.
Germany
0200 ET Aug German producer prices expected unchanged m/m and +5.8% y/y.
0500 ET Sep German ZEW economic sentiment expected -7.4 to -45.0, Aug -22.5 to -37.6. Sep ZEW current situation expected -8.5 to 45.0, Aug -36.8 to 53.5.
Canada
0830 ET Jul Canada wholesale sales expected +0.2% m/m, Jun +0.2% m/m.
0830 ET Aug Canada leading indicators expected +0.1% m/m, Jul +0.2% m/m.

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Kimberly-Clark (KMB) Barchart Chart of the Day

Barchart.coms Chart of the Day - Kimberly-Clark (KMB)
Related Stocks
KMB - Kimberly-Clark Corp.
Sym Last Chg Pct
KMB 69.89 +0.11 +0.16%
The "Chart of the Day" is Kimberly-Clark (KMB), which showed up on Monday's Barchart "All Time High" list. KMB on Monday edged to a new all-time high of $70.00 and closed +0.16%. TrendSpotter has been Long on KMB since Aug 24 at $67.23, when it was last featured in the Chart of the Day. In recent news on the stock, Barclays on Aug 23 upgraded KMB to Equal Weight from Underweight on dividend yield and growth expectations and raised the target to $69 from $60. BMO Capital on July 26 reiterated its Market Perform rating on KMB but raised its target to $71 from $62 citing cost discipline. Kimberly-Clark, with a market cap of $27 billion, is one of the world's largest consumer products companies.

kmb_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: 100% Buy
  • Overall Average 100% Buy


Barchart links for further information:

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Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
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Barchart Snapshot
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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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View Past Chart of the Day Reports

Monday, September 19, 2011

Barchart Morning Call 9/19

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are lower with the Euro Stoxx 50 down -1.84% and Dec S&Ps down -17.60 points. The dollar, Treasuries and gold are higher on strong safe-haven demand and commodities fell, with Dec copper sliding to a 9-1/2 month low as Greece's debt concerns intensify. Crude oil also weakened after OPEC Secretary-General Abdalla El-Badri said that global demand for oil is rising less than expected. Global stocks and the euro tumbled and credit default swaps to insure the government debt of European nations rose after European officials meeting for 2 days in Poland failed to offer a plan to halt the region's debt crisis. Swedish Finance Minister Borg said Greece "hasn't done enough" to meet its budget targets, while German Finance Minister Schaeuble rejected using the ECB to aid in Greece's rescue saying "We don't think that real economic and social problems can be solved by means of monetary policy." European bank stocks fell and led the broader market lower as EU and IMF officials meet today with Greek Finance Minister Venizelos to judge whether his government is eligible for its next aid payment. In its monthly report released today, the Bundesbank said it expects "robust" growth in Germany for the current quarter, but for the time thereafter, the "outlook has clouded more than previously expected amid heightened uncertainty."
  • Asian stocks today closed lower with Japan closed for holiday, China down -2.00%, Australia -1.64%, South Korea -0.92%, India -1.11%. China's Shanghai Stock Index fell to a 14-month low on concern the European debt crisis will intensify and slow the European economy and curb demand for Chinese exports along with comments from Chinese Premier Wen Jiabao who said he is "concerned" about high prices and the government will take additional measures to control inflation. Chinese property developers and homebuilders slumped after Aug China new home prices rose in all 70 cities monitored by the government for the first time this year, which boosts the odds of more monetary tightening.
Overnight U.S. Stock News
  • December S&Ps this morning are trading sharply lower by -17.60 points as Greek debt concerns intensify. The US stock market last Friday moved higher for a third day as U.S. consumer confidence strengthened more than expected and optimism grew that European leaders will take the necessary actions to stem the European debt crisis: Dow Jones +0.66, S&P 500 +0.57, Nasdaq Composite +0.58%. The S&P 500 and the Dow posted 2-week highs and the Nasdaq rose to a 1-1/2 month high. Bullish factors included (1) the larger-than-expected increase in Sep U.S. University of Michigan consumer confidence (+2.1 to 57.8 versus expectations of +1.2 to 56.9 and (2) speculation that the actions this week by the ECB, i.e. providing European banks with dollars, shows that European leaders see the severity of the region's debt crisis and will take the actions necessary to resolve it.
  • Bearish factors included (1) disappointment that European finance ministers meeting in Poland rejected offers to provide additional stimulus and decided to put off until Oct a decision on extending Greece additional rescue funds and (2) Fed data that showed Q2 U.S. household wealth fell -1% y/y to $58.5 trillion, the first decrease in a year, which may constrain consumer spending and lead to weaker economic growth.
  • Citigroup (C) and Bank of America (BAC) both declined at least 2% in pre-market trading on carry-over weakness from a fall in European bank stocks.
  • Alcoa (AA) slid 2.2% in European trading after the price of copper tumbled to a 9-1/2 month low in overnight trading.
Today's Market Focus
  • December 10-year T-notes this morning are up +16 ticks. T-note prices last Friday pushed higher on increased safe-haven demand on concern the European debt crisis may liger after European finance ministers ruled out further stimulus measures and pushed back a decision on further aid for Greece: TYZ11 +2.5, FVZ11 +2.5, EDH12 -0.5. Bullish factors included (1) increased safe-haven demand for Treasuries on concern the European sovereign-debt crisis will linger after European finance ministers meeting in Poland rejected offers to provide additional stimulus and decided to put off until Oct a decision on extending Greece additional rescue funds and (2) continued strong demand for U.S government debt from Asia after China, the biggest holder of U.S. debt, increased its Treasury holdings by $8 billion in July and Japan, the second-biggest holder, increased its U.S. debt holdings by $3.8 billion in Jul. Bearish factors included (1) the larger-than-expected increase in Sep U.S. University of Michigan consumer confidence (+2.1 to 57.8 versus expectations of +1.2 to 56.9) and (2) decreased safe-haven demand for Treasuries as equity markets rallied.
  • The dollar index this morning is stronger with the dollar/yen -0.11 yen and the euro/dollar -1.32 cents. The dollar index last Friday moved higher as the euro weakened after Euro-Zone finance ministers put off until Oct a decision on whether to grant Greece additional bailout funds: Dollar Index +0.302, USDJPY +0.083, EURUSD -0.00764. Bullish factors included (1) weakness in the euro after Euro-Zone finance ministers decided to put off until Oct a decision on extending Greece additional rescue funds and (2) continued strong dollar demand from European banks after the 3-month dollar Libor rate rose to 0.35133%, a 13-month high, while the dollar Libor-OIS spread, a gauge of banks' reluctance to lend, widened to 28.33 bp, the most in 13-1/2 months. Bearish factors included (1) the weaker-than-expected Jul net long-term TIC flows, which indicate reduced foreign demand for U.S. dollar assets and (2) reduced safe-haven demand for the dollar as the equity market strengthened.
  • Oct crude oil prices this morning are down -77 cents a barrel and Oct gasoline is -0.81 of a cent per gallon. Crude oil and gasoline prices last Friday settled mixed as crude fell on concern a lack of a resolution to the European debt crisis will slow global growth and fuel demand while gasoline rose on speculation European gasoline exports will decline because processing rates have fallen to unprofitable levels: CLV11 -$1.44, RBV11 +0.13. Bearish factors included (1) the stronger dollar, which discourages investment demand in commodities, (2) the lack of any concrete steps by European leaders at a meeting in Poland to resolve the region's debt crisis, which may slow economic growth and fuel demand the longer the debt crisis lingers. Bullish factors included (1) strength in gasoline due to the fall in European crude processing rates to unprofitable levels, which may curb European gasoline production and limit supplies for export and (2) the larger-than-expected increase in the Sep U.S. University of Michigan consumer confidence, which may benefit economic growth and fuel demand.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): LEN-Lennar Corp (BEST earnings consensus $0.11), TLVT-Telvent GIT SA (0.48), ARAY-Accuray (0.06).
Global Financial Calendar
Monday 9/19/11
United States
1000 ET Sep NAHB housing market index expected unchanged at 15, Aug unchanged at 15
1130 ET Weekly 3-mo and 6-mo T-bill auctions.
Euro-Zone
0500 ET Jul Euro-Zone construction output, Jun -1.8% m/m and -11.3% y/y.
Germany
0600 ET Bundesbank publishes monthly report for Sep.
Japan
n/a Japanese markets closed for Respect for the Aged Day.

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Apple (AAPL) Barchart Chart of the Day

Barchart.com's Chart of the Day - Apple (AAPL)
Related Stocks
AAPL - Apple Inc.
Sym Last Chg Pct
AAPL 400.50 +7.54 +1.92%
The "Chart of the Day" is Apple (AAPL), which showed up on Friday's list of stocks that had a new "Buy" signal from the Barchart "TrendSpotter" trading system and also showed up on the Barchart "Gap Up" list. Apple on Friday posted a new 1-1/2 month high and closed 1.92% higher, breaking out on the upside from its month-long consolidation range. A rally above the all-time high of $405.50 posted in late July would be a particularly bullish technical signal. In recent news on the stock, New York Times on Sep 16 reported that Apple's official announcement of the iPhone 5 may come within the next few weeks. Apple, with a market cap of $364 billion, designs, manufactures and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers.

aapl_700_01
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "Trading Signals" page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter "Buy" category to obtain a list of all the stocks for which the Barchart TrendSpotter trading system has just turned to a buy. We then clicked on the "Today's Opinion" column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter help page.
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: 100% Buy
  • Overall Average 100% 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