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Pre-Market: Crimea Invasion Drags US Futures Down; China PMI Numbers Are Mixed
Off a 2.5-year high, eurozone factory output continues to grow.
Alex Brokaw    

US futures fell sharply Monday morning as Russia's military advanced into the Ukraine and the threat of Western sanctions over the weekend sent Asian markets tumbling overnight.

Before the opening bell, Dow Jones (INDEXDJC:.DJI) futures were down .69% at 16,195. Futures on the S&P 500 (INDEXSP:.INX) declined .81% to 1842.50 after the index hit a record high last Thursday. Futures on the Nasdaq Composite (INDEXNASDAQ:.IXIC) slid .83% to 3,664.50.

China's HSBC manufacturing Purchasing Managers' Index (PMI) sunk to a seven-month low of 48.5 in February, one point below the previous month. The official manufacturing PMI dropped too, from 50.5 in January to 50.2 last month. In contrast, the official non-manufacturing PMI lifted to a three-month high of 55.0 in February. HSBC will release a services PMI on Wednesday. Diverging numbers make it hard to a get a read on the strength of China's economy.

Eurozone factory output grew last month, although at a slower rate than January's 2.5-year high. However it's the first time in nearly three years that the group's four biggest economies all showed output growth. Once again Germany led the expansion, while France made up for past deficiencies. Spain and Italy also made a strong recovery. Markit's eurozone PMI read 53.2 for February, lower than January's 54.0.

February US auto sales will be released throughout the day by the world's "Big 8" automakers, including Ford (NYSE:F), GM (NYSE:GM), Toyota (NYSE:TM), Honda (NYSE:HMC), Nissan (OTCMKTS:NSANY), Volkswagen (OTCMKTS:VLKAY), Kia/Hyundai, and Chrysler. Industry analysts predict sales will suffer because of this winter's polar vortex. Total car and pickup truck sales are expected to be about 1.2 million units, up nearly 20% from January. As of this writing, Nissan is the only automaker to release numbers, selling 115,00 units last a month -- a near-16% jump from the same time last year.

In other automobile news, Apple (NASDAQ:AAPL) unveiled CarPlay, an integrated voice-control system for cars, at the Geneva Motor Show today. Originally announced as its "iOS in the Car" initiative last year, CarPlay will be built in to vehicles from partners Ferrari, Mercedes-Benz, and Volvo.

On Saturday, Berkshire Hathaway (NYSE:BRK.A) released its annual letter to shareholders; it stated that fourth-quarter earnings rose 10% to nearly $5 billion. The growth was driven by gains its insurance, rail, and energy businesses.

The Commerce Department reports on US construction spending in January at 10 a.m. In December 2013, construction spending increased .1% after a .8% jump in November. Expectations are that spending will tick down .1% in January.

The Institute of Supply Management's February manufacturing index is expected at 10 a.m.

On Thursday, the European Central Bank (ECB) will hold a policy meeting. Last week's eurozone inflation numbers, Germany's strong retail sales, and the escalation of the the Crimean conflict are all expected to drive strategy decisions.

Twitter: @brokawbrokaw

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No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Pre-Market: Crimea Invasion Drags US Futures Down; China PMI Numbers Are Mixed
Off a 2.5-year high, eurozone factory output continues to grow.
Alex Brokaw    

US futures fell sharply Monday morning as Russia's military advanced into the Ukraine and the threat of Western sanctions over the weekend sent Asian markets tumbling overnight.

Before the opening bell, Dow Jones (INDEXDJC:.DJI) futures were down .69% at 16,195. Futures on the S&P 500 (INDEXSP:.INX) declined .81% to 1842.50 after the index hit a record high last Thursday. Futures on the Nasdaq Composite (INDEXNASDAQ:.IXIC) slid .83% to 3,664.50.

China's HSBC manufacturing Purchasing Managers' Index (PMI) sunk to a seven-month low of 48.5 in February, one point below the previous month. The official manufacturing PMI dropped too, from 50.5 in January to 50.2 last month. In contrast, the official non-manufacturing PMI lifted to a three-month high of 55.0 in February. HSBC will release a services PMI on Wednesday. Diverging numbers make it hard to a get a read on the strength of China's economy.

Eurozone factory output grew last month, although at a slower rate than January's 2.5-year high. However it's the first time in nearly three years that the group's four biggest economies all showed output growth. Once again Germany led the expansion, while France made up for past deficiencies. Spain and Italy also made a strong recovery. Markit's eurozone PMI read 53.2 for February, lower than January's 54.0.

February US auto sales will be released throughout the day by the world's "Big 8" automakers, including Ford (NYSE:F), GM (NYSE:GM), Toyota (NYSE:TM), Honda (NYSE:HMC), Nissan (OTCMKTS:NSANY), Volkswagen (OTCMKTS:VLKAY), Kia/Hyundai, and Chrysler. Industry analysts predict sales will suffer because of this winter's polar vortex. Total car and pickup truck sales are expected to be about 1.2 million units, up nearly 20% from January. As of this writing, Nissan is the only automaker to release numbers, selling 115,00 units last a month -- a near-16% jump from the same time last year.

In other automobile news, Apple (NASDAQ:AAPL) unveiled CarPlay, an integrated voice-control system for cars, at the Geneva Motor Show today. Originally announced as its "iOS in the Car" initiative last year, CarPlay will be built in to vehicles from partners Ferrari, Mercedes-Benz, and Volvo.

On Saturday, Berkshire Hathaway (NYSE:BRK.A) released its annual letter to shareholders; it stated that fourth-quarter earnings rose 10% to nearly $5 billion. The growth was driven by gains its insurance, rail, and energy businesses.

The Commerce Department reports on US construction spending in January at 10 a.m. In December 2013, construction spending increased .1% after a .8% jump in November. Expectations are that spending will tick down .1% in January.

The Institute of Supply Management's February manufacturing index is expected at 10 a.m.

On Thursday, the European Central Bank (ECB) will hold a policy meeting. Last week's eurozone inflation numbers, Germany's strong retail sales, and the escalation of the the Crimean conflict are all expected to drive strategy decisions.

Twitter: @brokawbrokaw

< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Daily Recap
Pre-Market: Crimea Invasion Drags US Futures Down; China PMI Numbers Are Mixed
Off a 2.5-year high, eurozone factory output continues to grow.
Alex Brokaw    

US futures fell sharply Monday morning as Russia's military advanced into the Ukraine and the threat of Western sanctions over the weekend sent Asian markets tumbling overnight.

Before the opening bell, Dow Jones (INDEXDJC:.DJI) futures were down .69% at 16,195. Futures on the S&P 500 (INDEXSP:.INX) declined .81% to 1842.50 after the index hit a record high last Thursday. Futures on the Nasdaq Composite (INDEXNASDAQ:.IXIC) slid .83% to 3,664.50.

China's HSBC manufacturing Purchasing Managers' Index (PMI) sunk to a seven-month low of 48.5 in February, one point below the previous month. The official manufacturing PMI dropped too, from 50.5 in January to 50.2 last month. In contrast, the official non-manufacturing PMI lifted to a three-month high of 55.0 in February. HSBC will release a services PMI on Wednesday. Diverging numbers make it hard to a get a read on the strength of China's economy.

Eurozone factory output grew last month, although at a slower rate than January's 2.5-year high. However it's the first time in nearly three years that the group's four biggest economies all showed output growth. Once again Germany led the expansion, while France made up for past deficiencies. Spain and Italy also made a strong recovery. Markit's eurozone PMI read 53.2 for February, lower than January's 54.0.

February US auto sales will be released throughout the day by the world's "Big 8" automakers, including Ford (NYSE:F), GM (NYSE:GM), Toyota (NYSE:TM), Honda (NYSE:HMC), Nissan (OTCMKTS:NSANY), Volkswagen (OTCMKTS:VLKAY), Kia/Hyundai, and Chrysler. Industry analysts predict sales will suffer because of this winter's polar vortex. Total car and pickup truck sales are expected to be about 1.2 million units, up nearly 20% from January. As of this writing, Nissan is the only automaker to release numbers, selling 115,00 units last a month -- a near-16% jump from the same time last year.

In other automobile news, Apple (NASDAQ:AAPL) unveiled CarPlay, an integrated voice-control system for cars, at the Geneva Motor Show today. Originally announced as its "iOS in the Car" initiative last year, CarPlay will be built in to vehicles from partners Ferrari, Mercedes-Benz, and Volvo.

On Saturday, Berkshire Hathaway (NYSE:BRK.A) released its annual letter to shareholders; it stated that fourth-quarter earnings rose 10% to nearly $5 billion. The growth was driven by gains its insurance, rail, and energy businesses.

The Commerce Department reports on US construction spending in January at 10 a.m. In December 2013, construction spending increased .1% after a .8% jump in November. Expectations are that spending will tick down .1% in January.

The Institute of Supply Management's February manufacturing index is expected at 10 a.m.

On Thursday, the European Central Bank (ECB) will hold a policy meeting. Last week's eurozone inflation numbers, Germany's strong retail sales, and the escalation of the the Crimean conflict are all expected to drive strategy decisions.

Twitter: @brokawbrokaw

< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
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