News

End of Day Analysis Morning January 26, 2012

9:05 am : S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +7.50. Most commodities are up this morning, building on their prior session advance. Collective strength has the CRB Index up 0.9% this morning, and up 3.0% week-to-date. Crude oil prices are up 1.6% to $101 per barrel in the opening minutes of pit trade. However, natural gas prices are under pressure after staging three consecutive climbs. The energy component was last quoted with a 1.8% loss at $2.72 per MMBtu. Weekly natural gas inventory numbers are due at 10:30 AM ET. Both gold and silver are sporting strong gains. Specifically, gold prices have gained 1.6% to trade at $1727 per ounce, while silver sports a 1.4% gain at $33.59 per ounce.

08:35 am : S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +4.80. Stock futures continue to trade with modest strength following a couple of doses of data. Durable goods orders for December were up 3.0%, which is greater than the 2.0% increase that had been generally anticipated among economists polled by Briefing.com. Orders for the prior month were revised upward to reflect an increase of 4.3%. Excluding autos, durable goods orders were up 2.1%, which is triple the increase that had been commonly expected. Prior month orders less autos were revised upward to reflect an increase of 0.5%.

Separately, initial jobless claims for the week ended January 21 totaled 377,000, which is in stride with the 375,000 initial claims that had been expected, on average, among economists surveyed by Briefing.com. The latest tally marks a jump of 21,000 from the prior week. Meanwhile, continuing claims climbed to 3.55 million from 3.47 million.

08:05 am : S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +3.30. Market participants are providing stock futures with a modest bid after the broad market booked its best close in several months yesterday. Sentiment has been helped by renewed strength in Europe and a bounce by the euro, which is currently up about 0.3% against the greenback.

Early traders are taking into the latest round of earnings, which include better-than-expected results from 3M (MMM 87.36, +0.88), Caterpillar (CAT 112.36, +3.31), and Netflix (NFLX 113.00, +17.96), but misses by Noble (NE 34.80, +0.01), AT&T (T 29.70, -0.51), and Bristol-Myers Squibb (BMY 32.55, -0.15). Colgate-Palmolive (CL 89.19, -0.25) posted in-line earnings results. Note: ticker quotes reflect premarket prices.

The flow of economic data picks up today. Monthly durable goods orders numbers are due at the bottom of the hour, along with the latest weekly initial jobless claims count. Monthly new home sales and leading indicators follow at 10:00 AM ET. Also on the calendar are weekly natural gas inventories, which are due at 10:30 AM ET, and results from an auction of 7-year Notes at 1:00 PM ET.

06:30 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +1.50.

06:30 am : Nikkei…8849.47…-34.20…-0.40%. Hang Seng…20439.14…+328.80…+1.60%.

06:30 am : FTSE…5780.72…+57.70…+1.00%. DAX…6502.31…+80.50…+1.30%.

Parse error: syntax error, unexpected '<' in /home/marke69/public_html/textpattern/publish/taghandlers.php(3744) : eval()'d code on line 1

4