U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Moderna gained $8.66 to $201.95 after Jefferies upgraded the stock from Neutral to Buy.Walt Disney slipped $0.45 to $89.63 after opening weekend revenues from its latest Avitar picture were lower than consensus. Microsoft added $1.22 to $245.91 on news that the company plans to challenge...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.U.S. Steel advanced $0.63 to $24.27 after raising guidance for fourth quarter revenues and earnings. Steel Dynamics added $0.28 to $102.20 after predicting an increase in hot rolled steel prices in 2023.Exact Science jumped $11.34 to $55.95 after its colorectal cancer treatment results w...Read More
(Updates with order to suspend operations) By Elida Moreno PANAMA CITY, Dec 15 (Reuters) -Panama's government ordered Canada's First Quantum Minerals on Thursday to pause operations at its flagship coppermine in the country after missing a deadline to finalize a dealthat would have increased payments to the government from themine. The government had given Minera Panama, which ismajority-owned by...Read More
U.S. equity index futures at 7:30 AM EST were lower this morning. S&P 500 futures were down 39 points in pre-opening trade.Lots of U.S. economic news is released this morning:December Empire State Manufacturing Survey released at 8:30 AM EST is expected to drop 6.50% versus a gain of 4.50 in November.December Philly Fed Index released at 8:30 AM EST is expected to improve to-6.2 from -19.4 in...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.FOMC statement on interest rates is released at 2:00 PM EST. Press conference with Federal Reserve chairman Powell is scheduled at 2:30 PM EST. Consensus is that the Fed Fund Rate will increase from 3.75%-4.00% to 4.25%-4.50%. In addition, the Federal Reserve is expected to continue to re...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 106 points in pre-opening trade.Index futures moved higher following release of the November Consumer Price Index at 8:30 AM EST. November CPI was expected to increase 0.3% versus a gain of 0.4% in October. Actual was an increase of 0.1%. On a year-over-year basis November Consumer Price Index was expected to increase...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade.Bank of Canada Governor Tiff Mackem is scheduled to speak at 3:40 PM EST.Coupa Software jumped $13.04 to $75.13 after Thema Bravo offered to acquire the company for $81.00 per share. The cash deal is valued at $8 billion.Horizon Theropeutics jumped $14.26 to $111.53 after Amgen offered to...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were down 11 points in pre-opening trade. Index futures moved lower following release of the November Producer Price Index at 8:30 AM EST. Consensus was an increase 0.2% versus a gain of 0.2% in October. Actual was an increase of 0.3%. On a year-over-year basis, consensus was an increase of 7.2% versus a gain of 8.0% in Octobe...Read More
Technical NotesOil Services ETF $OIH moved below $284.52 completing a double top pattern.AT&T an S&P 100 stock moved above $19.39 extending an intermediate uptrend. PayPal a NASDAQ 100 stock moved below $71.17 extending an intermediate downtrend. Cenovus a TSX 60 stock moved below $25.03 completing a double top pattern. Trader's CornerEquity Indices and Related ETFsDaily Seasonal/Tec...Read More
(In first sentence, corrects name to National Mining Agency,not National Mining Association) By Oliver Griffin BOGOTA, Dec 7 (Reuters) - Colombia is preparing tolaunch a national mining company, the president of thegovernment's National Mining Agency (ANM) said on Wednesday,adding that coal mining royalties during the year had more thandoubled. The government of President Gustavo Petro has pledge...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade. Index futures eased 3 points following release of revised third quarter U.S. Non-farm Productivity at 8:30 AM EST. Consensus was an increase of 0.7% versus a gain of 0.3% in the second quarter. Actual was an increase of 0.8%.Bank of Canada's interest rate to Canada's major banks to be r...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of the U.S October Trade Report at 8:30 AM EST. Consensus was a deficit of $79.90 billion versus a deficit of $73.30 billion in September. Actual was a deficit of $78.2 billion.The Canadian Dollar was virtually unchanged at U.S.73.41 c...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points in pre-opening trade.Broadcom slipped $0.80 to $540.00 after Susquehanna lowered its target price from $680 to $650.Lululemon added $0.03 to $386.02 after Stifel Nicolaus raised its target price from $400 to $450. Tractor Supply (TSCO $224.94) is expected to open higher after Wells Fargo raised its target pr...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 60 points in pre-opening trade.Index future moved strongly lower following release of the U.S. November Employment Report at 8:30 AM EST. Consensus for Non-farm Payrolls was an increase of 200,000 versus a gain of 261,000 in October. Actual was an increase of 263,000. Consensus for the November Unemployment Rate was 3...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 7:30 AM EST.October core PCE Price Index released at 8:30 AM EST is expected to increase 0.3% versus a gain of 0.5% in September. On a year-over-year basis, October core PCE Price Index is expected to increase 5.0 versus a gain of 5.1% in September. Snowflake $SNOW dropped $7.30 to $135.60 after the company of...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.Investors are focusing on a speech by Federal Reserve Chairman Powell scheduled at 1:30 PM ESTIndex futures dropped 5 points following release of revised real third quarter GDP at 8:30 AM EST showing growth at 2.9% versus previous growth at 2.6%.NetApp $NTAP dropped $7.79 to $64.00 after t...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.The Canadian Dollar slipped 0.15 to US73.92 cents following release of Canada's September real GDP report at 8:30 AM EST. Consensus for the third quarter was an annualized gain of 1.5% versus a gain of 3.3% in the second quarter. Actual was a gain of 2.9%.Bank of Nova Scotia (BNS.TO $71.46...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 31 points in pre-opening trade.Index futures responded to civil unrest in China due to increased COVID 19 restrictions. The Shanghai Composite Index dropped 23.14 to 3078.55. In response, Crude oil dropped $2.40 to $73.86 per barrel.Apple $APPL dropped $2.75 to $145.36 after lowering iPhones production expectations fr...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. U.S. equity markets close today at 1:00 PM EST.Peoples Bank of China has lowered its lending rate to major Chinese banks by 0.25%.Activision Blizzard dropped $2.59 to $74.00 on reports that the Federal Trade Commission may launch an anti-trust lawsuit against Microsoft's propose acquisiti...Read More
With U.S. equity markets on holidays today, no pre-opening comments are offered. Responses to FOMC Meeting Minutes Minutes were released at 2:00 PM EST yesterdayU.S. equity indices moved higher after 2:00 PM ESTU.S. Dollar and related ETN: UUP moved lower after 2:00 PM ESTLong term U.S. Treasury bond yields moved lower. Long term U.S. Treasury bond prices moved higher after 2:00 PM ESTGold p...Read More