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Strong Performance From China Carries Over Into US, European Sessions
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Any pickup in tensions in Ukraine were dismissed as the German DAX (INDEXDB:DAX) was the top performer in Europe, rising 1.26%. The EU announced sanctions against two Russian companies and 13 individuals due to Russia's continued involvement in the region. In other news, following a referendum vote yesterday to leave Ukraine, the eastern Donetsk region proclaimed itself a sovereign state called the Donetsk People's Republic and asked to be absorbed by the Russian Federation.

Chinese stocks were on fire last night, and that ended up passing through into European and US equities. The Shanghai Composite (SHA:00001) was up 2.08% overnight with more than 90% of its components rising. Copper, iron ore, and energy and materials sectors were all the top performers, gaining in excess of 4%.

The small-cap Russell 2000 (INDEXRUSSELL:RUT) rallied strongly today after two months of underperformance versus the S&P 500 (INDEXSP:.INX). Although all sectors rose today with the exception of interest-rate sensitive utilities and telecom, two of the top performers today were the financial and tech sectors. Cloud stocks such as Workday (NYSE:WDAY), Tableau Software (NYSE:DATA), Netsuite (NYSE:N), and ServiceNow (NYSE:NOW) all formed technical double bottoms and exploded higher in today's session. Most of these stocks have lost as much as 50% in the past two months. Twitter (NYSE:TWTR) also continued its rise following last Tuesday's lockup expiration. In the financial sector, all 24 components of the KBW Bank Index (INDEXSP:BKX) gained.

Tomorrow's Financial Outlook

Tomorrow morning we'll receive advance retail sales from April, the first significant piece of economic data from the month that we'll see reported this week. Economists expect sales to rise 0.4% in April after rising 1.1% in the month prior. Core sales, excluding automobile and gasoline sales, are expected to rise 0.5%. April import and export prices are also scheduled to be released in addition to the very final piece of first-quarter GDP, private inventories for March.

The key catalyst for risk assets overnight will be the release of April Chinese retail sales, industrial production, and fixed asset investment. Manufacturing surveys in the month were very tepid, and investors will be looking for continued upside acceleration after activity appears to have bottomed at the end of last year. A minor decline is probably the worst-case scenario because it might not spur the government into action.

There are no major earnings reports scheduled for 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.
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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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Strong Performance From China Carries Over Into US, European Sessions
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Any pickup in tensions in Ukraine were dismissed as the German DAX (INDEXDB:DAX) was the top performer in Europe, rising 1.26%. The EU announced sanctions against two Russian companies and 13 individuals due to Russia's continued involvement in the region. In other news, following a referendum vote yesterday to leave Ukraine, the eastern Donetsk region proclaimed itself a sovereign state called the Donetsk People's Republic and asked to be absorbed by the Russian Federation.

Chinese stocks were on fire last night, and that ended up passing through into European and US equities. The Shanghai Composite (SHA:00001) was up 2.08% overnight with more than 90% of its components rising. Copper, iron ore, and energy and materials sectors were all the top performers, gaining in excess of 4%.

The small-cap Russell 2000 (INDEXRUSSELL:RUT) rallied strongly today after two months of underperformance versus the S&P 500 (INDEXSP:.INX). Although all sectors rose today with the exception of interest-rate sensitive utilities and telecom, two of the top performers today were the financial and tech sectors. Cloud stocks such as Workday (NYSE:WDAY), Tableau Software (NYSE:DATA), Netsuite (NYSE:N), and ServiceNow (NYSE:NOW) all formed technical double bottoms and exploded higher in today's session. Most of these stocks have lost as much as 50% in the past two months. Twitter (NYSE:TWTR) also continued its rise following last Tuesday's lockup expiration. In the financial sector, all 24 components of the KBW Bank Index (INDEXSP:BKX) gained.

Tomorrow's Financial Outlook

Tomorrow morning we'll receive advance retail sales from April, the first significant piece of economic data from the month that we'll see reported this week. Economists expect sales to rise 0.4% in April after rising 1.1% in the month prior. Core sales, excluding automobile and gasoline sales, are expected to rise 0.5%. April import and export prices are also scheduled to be released in addition to the very final piece of first-quarter GDP, private inventories for March.

The key catalyst for risk assets overnight will be the release of April Chinese retail sales, industrial production, and fixed asset investment. Manufacturing surveys in the month were very tepid, and investors will be looking for continued upside acceleration after activity appears to have bottomed at the end of last year. A minor decline is probably the worst-case scenario because it might not spur the government into action.

There are no major earnings reports scheduled for 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.

Strong Performance From China Carries Over Into US, European Sessions
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Any pickup in tensions in Ukraine were dismissed as the German DAX (INDEXDB:DAX) was the top performer in Europe, rising 1.26%. The EU announced sanctions against two Russian companies and 13 individuals due to Russia's continued involvement in the region. In other news, following a referendum vote yesterday to leave Ukraine, the eastern Donetsk region proclaimed itself a sovereign state called the Donetsk People's Republic and asked to be absorbed by the Russian Federation.

Chinese stocks were on fire last night, and that ended up passing through into European and US equities. The Shanghai Composite (SHA:00001) was up 2.08% overnight with more than 90% of its components rising. Copper, iron ore, and energy and materials sectors were all the top performers, gaining in excess of 4%.

The small-cap Russell 2000 (INDEXRUSSELL:RUT) rallied strongly today after two months of underperformance versus the S&P 500 (INDEXSP:.INX). Although all sectors rose today with the exception of interest-rate sensitive utilities and telecom, two of the top performers today were the financial and tech sectors. Cloud stocks such as Workday (NYSE:WDAY), Tableau Software (NYSE:DATA), Netsuite (NYSE:N), and ServiceNow (NYSE:NOW) all formed technical double bottoms and exploded higher in today's session. Most of these stocks have lost as much as 50% in the past two months. Twitter (NYSE:TWTR) also continued its rise following last Tuesday's lockup expiration. In the financial sector, all 24 components of the KBW Bank Index (INDEXSP:BKX) gained.

Tomorrow's Financial Outlook

Tomorrow morning we'll receive advance retail sales from April, the first significant piece of economic data from the month that we'll see reported this week. Economists expect sales to rise 0.4% in April after rising 1.1% in the month prior. Core sales, excluding automobile and gasoline sales, are expected to rise 0.5%. April import and export prices are also scheduled to be released in addition to the very final piece of first-quarter GDP, private inventories for March.

The key catalyst for risk assets overnight will be the release of April Chinese retail sales, industrial production, and fixed asset investment. Manufacturing surveys in the month were very tepid, and investors will be looking for continued upside acceleration after activity appears to have bottomed at the end of last year. A minor decline is probably the worst-case scenario because it might not spur the government into action.

There are no major earnings reports scheduled for 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.

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