Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Colder Weather Forecasts Boost Natural Gas Prices


Today's financial recap and tomorrow's financial outlook.

The Japanese Nikkei (INDEXNIKKEI:NI225) rallied overnight, catching up to the gains seen in US markets on Friday and the weakness in the yen. The Nikkei rallied 2.3% and other Asian emerging markets also performed strongly. The Thai government was dissolved by the Prime Minister following continued demonstrations within the country.

US equities drifted higher today, digesting Friday's large gains. Notably, the small-cap Russell 2000 (INDEXRUSSELL:RUT) underperformed the large-cap S&P 500 (INDEXSP:.INX) by 0.35%. Tech, led by strong gains from social media stock Twitter (NYSE:TWTR), was the top-performing sector. Utilities was the worst-performing sector today.

Comments from lawmakers indicated that the Democratic and Republican parties were getting closer to a budget deal for next year. The proposed deal would reduce the planned $100 - $200 billion in automatic spending cuts to about $90 billion. However, the cuts would not reduce fiscal deficits in 2014 and 2015.

McDonalds (NYSE:MCD) announced same-store sales for the month of November this morning. Global sales rose 0.5% vs. estimates of a 0.6% increase. Most disappointing was the 0.8% decline in the US market vs. +0.3% estimates. McDonalds attributed the weakness to flat consumer traffic and increasing competition.

Natural gas rose strongly today. Prices for January 2014 delivery rose almost 3% in floor trading on forecasts for increasingly colder weather across the Midwest and Northeast. Up to six inches of snowfall could be seen tomorrow in New York according to weather forecasting services AccuWeather and the National Weather Service, with temperatures around 20 degrees Fahrenheit. The service is also predicting snow as far south as Virginia and Maryland.

Tomorrow's Financial Outlook

The one notable economic report due out tomorrow will be the government's September Job Openings and Labor Turnover Survey (JOLTS). Economists look to this survey to get a true sense of the strength in the labor market. Another report is the October wholesale inventories, a key component in GDP. Economists are expecting a 0.3% rise in inventories from the prior month.

A vote will be held tomorrow morning on the implementation of the Volcker Rule. A ruling should be expected by 10:00 a.m. EST. Some of the major regulatory agencies scheduled to vote include the SEC, CFTC, FTC, and Federal Reserve.

The UK will release manufacturing and industrial production tomorrow morning. Additionally, China will release its November retail sales and industrial production. Lastly, ECB President Mario Draghi will give a speech in Rome at 7:00 a.m. EST.

Autozone (NYSE:AZO), Toll Brothers (NYSE:TOL), Burlington Stores (NYSE:BURL), H&R Block (NYSE:HRB), and Smith & Wesson (NASDAQ:SWHC) will report earnings tomorrow.

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.
< 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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos