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US Stocks Overcome Post-Rally Depression to Finish Positive
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Today

A number of stories affected overnight trading in European and Asian equities. The Chinese government announced that they were taking over all coal consumption in the country, which is harmful to coal producers here in the US. Italian politician Matteo Renzi made a push for early elections that would expedite the exit of current Prime Minister Enrico Letta. The Italian FTSEMIB (INDEXBIT:FTSEMIB) declined for the first time in seven days in today's session.

The January retail sales report posted some worrisome declines in spending. Sales fell 0.4% month-over-month, worse than the expectations that the number would be unchanged. Sales grew 2.6% year-over-year, the slowest rate of growth since 2009. The December 2013 retail sales report was also revised down to a -0.1% monthly growth rate from the prior estimate of +0.2%, which caused many economists to revise down their fourth-quarter GDP growth forecast.

US stocks had an extremely volatile day following five very strong days. S&P 500 (INDEXSP:.INX) futures fell by 14.75 points in the pre-market following the poor retail sales report before mounting a serious rally into the day's end and finishing the session in the positive. Utilities stocks led the day, thanks to a strong rally in US Treasuries. The 10-year Treasury yield declined by six basis points today to 2.73%

It was announced early this morning that Comcast (NASDAQ:CMCSA) would acquire Time Warner Cable (NYSE:TWC) for $45.2 billion in common stock, or roughly $158 per share. Each Time Warner shareholder will receive 2.875 shares of Comcast stock, though the deal is still subject to approval by regulators. Charter Communications (NASDAQ:CHTR) had made a number of offers for Time Warner over the past four months and was hit hard in today's session.

Natural gas futures rose by 7.76% in today's session following a very strong inventory report from the EIA. Stockpiles fell by 237 billion cubic feet in the past week, more than the 227 to 232 bcf draw that had been expected by analysts.

Tomorrow

Tomorrow morning the initial estimate of the February University of Michigan/Reuters consumer confidence index will be released. Economists expect the index to fall marginally to 80.5 from 81.2 in the month prior. Also scheduled to be reported tomorrow is January industrial production, which is expected to rise 0.3% from the month prior. Lastly, the January import/export price indices will be released early in the morning.

The main event tomorrow is the preliminary fourth-quarter GDP estimates in the major eurozone countries. The broader 17-nation (sans Latvia, which was recently added) growth will be reported at 10:00 a.m. GMT, but France, Germany, and Italy will be reported individually in the hours leading up to it. China is scheduled to release producer and consumer inflation figures from January overnight.

The only notable earnings report scheduled for tomorrow morning is Campbell Soup (NYSE:CPB).

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

US Stocks Overcome Post-Rally Depression to Finish Positive
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Today

A number of stories affected overnight trading in European and Asian equities. The Chinese government announced that they were taking over all coal consumption in the country, which is harmful to coal producers here in the US. Italian politician Matteo Renzi made a push for early elections that would expedite the exit of current Prime Minister Enrico Letta. The Italian FTSEMIB (INDEXBIT:FTSEMIB) declined for the first time in seven days in today's session.

The January retail sales report posted some worrisome declines in spending. Sales fell 0.4% month-over-month, worse than the expectations that the number would be unchanged. Sales grew 2.6% year-over-year, the slowest rate of growth since 2009. The December 2013 retail sales report was also revised down to a -0.1% monthly growth rate from the prior estimate of +0.2%, which caused many economists to revise down their fourth-quarter GDP growth forecast.

US stocks had an extremely volatile day following five very strong days. S&P 500 (INDEXSP:.INX) futures fell by 14.75 points in the pre-market following the poor retail sales report before mounting a serious rally into the day's end and finishing the session in the positive. Utilities stocks led the day, thanks to a strong rally in US Treasuries. The 10-year Treasury yield declined by six basis points today to 2.73%

It was announced early this morning that Comcast (NASDAQ:CMCSA) would acquire Time Warner Cable (NYSE:TWC) for $45.2 billion in common stock, or roughly $158 per share. Each Time Warner shareholder will receive 2.875 shares of Comcast stock, though the deal is still subject to approval by regulators. Charter Communications (NASDAQ:CHTR) had made a number of offers for Time Warner over the past four months and was hit hard in today's session.

Natural gas futures rose by 7.76% in today's session following a very strong inventory report from the EIA. Stockpiles fell by 237 billion cubic feet in the past week, more than the 227 to 232 bcf draw that had been expected by analysts.

Tomorrow

Tomorrow morning the initial estimate of the February University of Michigan/Reuters consumer confidence index will be released. Economists expect the index to fall marginally to 80.5 from 81.2 in the month prior. Also scheduled to be reported tomorrow is January industrial production, which is expected to rise 0.3% from the month prior. Lastly, the January import/export price indices will be released early in the morning.

The main event tomorrow is the preliminary fourth-quarter GDP estimates in the major eurozone countries. The broader 17-nation (sans Latvia, which was recently added) growth will be reported at 10:00 a.m. GMT, but France, Germany, and Italy will be reported individually in the hours leading up to it. China is scheduled to release producer and consumer inflation figures from January overnight.

The only notable earnings report scheduled for tomorrow morning is Campbell Soup (NYSE:CPB).

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Minyanville Staff
Daily Recap
US Stocks Overcome Post-Rally Depression to Finish Positive
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Today

A number of stories affected overnight trading in European and Asian equities. The Chinese government announced that they were taking over all coal consumption in the country, which is harmful to coal producers here in the US. Italian politician Matteo Renzi made a push for early elections that would expedite the exit of current Prime Minister Enrico Letta. The Italian FTSEMIB (INDEXBIT:FTSEMIB) declined for the first time in seven days in today's session.

The January retail sales report posted some worrisome declines in spending. Sales fell 0.4% month-over-month, worse than the expectations that the number would be unchanged. Sales grew 2.6% year-over-year, the slowest rate of growth since 2009. The December 2013 retail sales report was also revised down to a -0.1% monthly growth rate from the prior estimate of +0.2%, which caused many economists to revise down their fourth-quarter GDP growth forecast.

US stocks had an extremely volatile day following five very strong days. S&P 500 (INDEXSP:.INX) futures fell by 14.75 points in the pre-market following the poor retail sales report before mounting a serious rally into the day's end and finishing the session in the positive. Utilities stocks led the day, thanks to a strong rally in US Treasuries. The 10-year Treasury yield declined by six basis points today to 2.73%

It was announced early this morning that Comcast (NASDAQ:CMCSA) would acquire Time Warner Cable (NYSE:TWC) for $45.2 billion in common stock, or roughly $158 per share. Each Time Warner shareholder will receive 2.875 shares of Comcast stock, though the deal is still subject to approval by regulators. Charter Communications (NASDAQ:CHTR) had made a number of offers for Time Warner over the past four months and was hit hard in today's session.

Natural gas futures rose by 7.76% in today's session following a very strong inventory report from the EIA. Stockpiles fell by 237 billion cubic feet in the past week, more than the 227 to 232 bcf draw that had been expected by analysts.

Tomorrow

Tomorrow morning the initial estimate of the February University of Michigan/Reuters consumer confidence index will be released. Economists expect the index to fall marginally to 80.5 from 81.2 in the month prior. Also scheduled to be reported tomorrow is January industrial production, which is expected to rise 0.3% from the month prior. Lastly, the January import/export price indices will be released early in the morning.

The main event tomorrow is the preliminary fourth-quarter GDP estimates in the major eurozone countries. The broader 17-nation (sans Latvia, which was recently added) growth will be reported at 10:00 a.m. GMT, but France, Germany, and Italy will be reported individually in the hours leading up to it. China is scheduled to release producer and consumer inflation figures from January overnight.

The only notable earnings report scheduled for tomorrow morning is Campbell Soup (NYSE:CPB).

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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