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June's pace of new-home sales hits three-month low
WASHINGTON (MarketWatch) -- Sales of new single-family homes fell 8.1% in June to a seasonally adjusted annual rate of 406,000, the slowest pace in three months, with drops across the country, according to government data released Thursday. June's result missed expectations from economists polled by MarketWatch, who had forecast a rate of 475,000, compared with an originally estimated pace of 504,000 for May. On Thursday, the government reported a sizable downward revision for May, estimating a pace of 442,000. New-home sales in June were down 11.5% from a year earlier. The fresh data may add to worries over the housing market's recovery. But it's worth noting that the volatile series undergoes revisions. The confidence interval for June's 8.1% drop is plus or minus 12.3%, signaling that the government isn't sure whether the pace of new-home sales actually rose or fell last month. The median price of new homes in June rose to $273,500, up 5.3% from a year earlier. The supply of new homes on the market rose to 5.8 months at the current sales pace from 5.2 months in May.
#OTC watching $LKEN .0012 for major bounce supportive activity. Sitting right on trigger point
Good Morning as for #OTC watching $LKEN .0012 for major bounce supportive activity. Sitting right on trigger point
Good Morning as for #OTC watching $LKEN .0012 for major bounce supportive activity. Sitting right on trigger point
Gold dips again as solid earnings pour in
Analyst: Near-term potential for safe-haven demand is sticking around
LOS ANGELES (MarketWatch) — Gold fell for a third-straight session on Thursday, faltering as investors continue to focus on equities during this mostly upbeat earnings season.
At last check, gold for August delivery GCQ4 -0.37% was down $6.70, or 0.5%, to $1,298.00 an ounce. September silver SIU4 -0.33% was hit even harder, down 15 cents, or 0.7%, to $20.85 an ounce. http://www.marketwatch.com/story/gold-dips-again-as-solid-earnings-pour-in-2014-07-24?dist=beforebell
U.S. stocks: Futures up with eyes on Ford, Facebook
New-home sales data could show a decline; HSBC China PMI data strong
MADRID (MarketWatch) — Stock futures rose ahead of earnings from Ford Motor Co. and Caterpillar Inc. on Thursday, with investors inspired after Facebook busted through Wall Street’s expectations.
Data reports return to the calendar, with a potential drop in new-home sales and the latest on weekly jobless claims on tap.
Futures for the Dow Jones Industrial Average DJU4 +0.19% rose 30 points to 17,055, while those for the S&P 500 SPU4 +0.13% SPU4 +0.13% added 2.8 points to 1,983.60. Futures for the Nasdaq-100 NDU4 +0.29% gained 11.25 points to 3,986.75, a rise of 0.2%.
Ahead of the data, investors will hear from Ford F +0.06% , with investors expecting the auto maker to earn 37 cents a share in the second quarter. General Motors Co. GM +0.59% will also report, with earnings expectations of 70 cents per share in the second quarter.
Among the rest of the early reporters are 3M Co. MMM -0.02% , AmerisourceBergen Corp. ABC +0.46% , Caterpillar Inc. CAT +0.28% .
Investors will be looking for reaction to big names delivered late Wednesday. Facebook Inc. F +0.06% shares jumped more than 5% in late trade after profit and sales beat expectations . Gilead Sciences Inc. GILD +1.38% posted strong second-quarter results, lifting shares 1% in after-hours trading.
SPU4 +0.13% Qualcomm Inc. QCOM -4.90% shares could come under pressure after the wireless-tech company noted some worries about licensees in China, even as it lifted its full-year adjusted earnings outlook. Shares fell more than 3% in late trading.
The biggest piece of data for Thursday could be new-home sales, and economists polled by MarketWatch are expecting the annualized sales pace of new single-family homes dropped to 475,000 in June, from a big 504,000-jump in May. The data is due at 10 a.m. Eastern Time.
Ahead of that, jobless claims are due at 8:30 a.m. Eastern, and economists expect the pace of layoffs remained low in the most recent weekly period. Futures for the Dow Jones Industrial Average DJU4 +0.19% rose 30 points to 17,055, while those for the S&P 500 SPU4 +0.13% SPU4 +0.13% added 2.8 points to 1,983.60. Futures for the Nasdaq-100 NDU4 +0.29% gained 11.25 points to 3,986.75, a rise of 0.2%.
Ahead of the data, investors will hear from Ford F +0.06% , with investors expecting the auto maker to earn 37 cents a share in the second quarter. General Motors Co. GM +0.59% will also report, with earnings expectations of 70 cents per share in the second quarter.
Among the rest of the early reporters are 3M Co. MMM -0.02% , AmerisourceBergen Corp. ABC +0.46% , Caterpillar Inc. CAT +0.28% .
Investors will be looking for reaction to big names delivered late Wednesday. Facebook Inc. F +0.06% shares jumped more than 5% in late trade after profit and sales beat expectations . Gilead Sciences Inc. GILD +1.38% posted strong second-quarter results, lifting shares 1% in after-hours trading.
SPU4 +0.13% Qualcomm Inc. QCOM -4.90% shares could come under pressure after the wireless-tech company noted some worries about licensees in China, even as it lifted its full-year adjusted earnings outlook. Shares fell more than 3% in late trading.
The biggest piece of data for Thursday could be new-home sales, and economists polled by MarketWatch are expecting the annualized sales pace of new single-family homes dropped to 475,000 in June, from a big 504,000-jump in May. The data is due at 10 a.m. Eastern Time.
Ahead of that, jobless claims are due at 8:30 a.m. Eastern, and economists expect the pace of layoffs remained low in the most recent weekly period.
LKEN nice chart breakdown agree!
After-hours buzz: Facebook, AT&T, Gilead & more
http://www.cnbc.com/id/101861218
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S&P 500 closes at record on strong earnings
Biogen Idec rallies on profit, revenue beat
NEW YORK (MarketWatch) — Gains in health care and technology sector stocks on the back of impressive profits from Biogen Idec Inc. and Apple Inc. pushed the S&P 500 to close at a record on Wednesday.
The S&P 500 (SNC:SPX) closed 3.49 points, or 0.2%, higher at 1,987.02, closing at a record level for the 26th time this year. The Dow Jones Industrial Average (DJI:DJIA) was weighed down by Boeing Inc. and closed 26.91 points, or 0.2%, lower at 17,086.63. The Nasdaq Composite (NASDAQ:COMP) ended the session up 17.68 points, or 0.4%, to 4,473.70, with biotechnology companies leading the gains.
Investors seemed to have brushed off news that two Ukrainian fighter jets were shot down Wednesday near where Malaysia Airlines Flight MH17 was downed as well as continued ground attacks on Gaza.
Kim Caughey Forrest, investment strategist at Fort Pitt Capital said that geopolitical issues in the Middle East and Ukraine, may not affect businesses in the short-term, but in the long-term, “we will be affected if American companies cannot move freely in the world.”
“At this point, overall earnings growth has already been priced in. Wall Street’s full-year earnings estimates are too optimistic and eventually will come down,” Forrest added.
The data calendar was empty for Wednesday, leaving investors to fix their attention on corporate earnings. http://www.marketwatch.com/story/us-stocks-futures-track-global-gains-boeing-ahead-2014-07-23
Gold extends losses to close lower for second day
SAN FRANCISCO (MarketWatch) -- Gold futures edged down Wednesday to close lower for a second day as lingering geopolitical risks provided support even as a strong stock market offset demand. August gold (CNS:GCQ4) fell $1.60, or 0.1%, for the session to settle at $1,304.70 an ounce on the Comex division of the New York Mercantile Exchange.
Apple, Microsoft fuel broad tech gains
Investors get behind latest results from tech bellwethers
SAN FRANCISCO (MarketWatch) — Apple Inc. and Microsoft Corp. were among the big-name tech stocks that rose Wednesday as investors remained positive about the sector bellwethers in the wake of their latest earnings reports. http://www.marketwatch.com/story/apple-microsoft-fuel-broad-tech-gains-2014-07-23
in w/ starter @ .0008
Good Morning as for #OTC watching $LKEN .001 for activity, entry & bounce.
Good Morning as for #OTC watching $LKEN .001 for activity, entry & bounce.
Early movers: AAPL, MSFT, BA, DAL, DOW, PEP & more
http://www.cnbc.com/id/101859474
U.S. stocks: Futures higher; Boeing ahead
Whirlpool drops on results; Apple, Microsoft shares eyed
MADRID (MarketWatch) — Wall Street stocks were set to open modestly higher on Wednesday, though earnings from Boeing Co. and PepsiCo Inc., among others, will command investors’ attention before the bell.
Reaction to results late Tuesday from Apple Inc. and Microsoft Corp. could also be seen in the premarket trading hours.
Futures for the Dow Jones Industrial Average (CBE:DJU4) rose 30 points to 17,063, while those for the S&P 500 index (GLC:SPU4) were up 3.8 points to 1,978.70. Futures for the Nasdaq-100 index (GLC:NDU4) gained 7 points to 3,957.50.
The data calendar is empty for Wednesday, leaving investors to fix their attention on corporate earnings. Reporting early, Whirlpool Corp. (NYSE:WHR) posted weaker-than-expected earnings, and shares were off over 5% in thin, premarket trade.
Boeing (NYSE:BA) is expected to post second-quarter earnings of $2 per share. Delta Air Lines Inc. (NYSE:DAL) , PepsiCo (NYSE:PEP) and Whirlpool Corp. (NYSE:WHR) are also lined up for pre-open results.
After the close, earnings from Facebook Inc. (NASDAQ:FB) and AT&T Inc. (NYSE:T) will be among the highlights.
Investors may see reaction to big tech earnings that came late Tuesday. Apple (NASDAQ:AAPL) posted a fall in iPad sales, which weighed on shares in late trading despite the company’s better-than-expected quarterly results and strong iPhone sales. http://www.marketwatch.com/story/us-stocks-futures-track-global-gains-boeing-ahead-2014-07-23?link=MW_home_latest_news
Gold gains, but clouds hover over short-term outlook
LONDON (MarketWatch) — Gold prices edged higher Wednesday, a slight recovery from losses in the previous session when investors sought to take on risk in equities.
Gold for August (CNS:GCQ4) rose $2.20, or 0.2%, to $1,308.50 an ounce.
The August contract dropped nearly $8 on Tuesday as the appeal of safe havens weakened and stocks strengthened on better-than-expected inflation and housing data, and quarterly earnings reports that have mostly come in above expectations. The S&P 500 index (SNC:SPX) on Tuesday closed just shy of its record closing high.
Gold only holds “slight upside potential” in the short term, wrote commodities analysts at Commerzbank on Wednesday. They noted that dollar-denominated gold was weighed by gains in the dollar (ICAP:EURUSD) against the euro Tuesday as the U.S annual. inflation rate remained at 2.1%. http://www.marketwatch.com/story/gold-gains-but-clouds-hover-over-short-term-outlook-2014-07-23
After-hours buzz: Apple, Microsoft, VMWare & more
http://www.cnbc.com/id/101857413
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U.S. stocks end higher; Herbalife gain best ever
Chipotle jumps on earnings, Coca-Cola, McDonalds fall on results
NEW YORK (MarketWatch) — The U.S. stock market closed modestly higher, boosted by better-than-expected inflation and housing reports as well as a flood of second-quarter earnings reports.
The S&P 500 (SNC:SPX) ended the session 9.93 points, or 0.5%, higher at 1,983.56, led by stellar results from Chipotle Mexican Grill Inc. The benchmark index closed within a striking distance from its record closing level, reached on July 3.
The Dow Jones Industrial Average (DJI:DJIA) added 61.81 points, or 0.4%, to 17,113.54. The Nasdaq Composite (NASDAQ:COMP) gained 31.31 points, or 0.7%, to 4,456.02.
“Earnings so far are modestly above expectations, though revenues continue to be on a weak side,” said Jim Russell, senior equity strategist at U.S. Bank Wealth Management.
Russell expressed concerns about third and fourth quarter expectations, which he views as high, given modest revenue growth forecasts.
In economic news, consumer prices gained again in June, but the rise was not as broad-based as in the prior month and was driven mainly by the rising cost of gasoline.
Inflation, as measured by CPI, has picked up noticeably in recent months, but Tuesday’s tame reading could ease some of those concerns.
Rising for a third month, sales of existing homes grew in June to the highest annual rate since October.
Six Dow Industrials components reported ahead of the market open. Coca-Cola (NYSE:KO) shares fell 2.9% after the beverage giant reported second-quarter sales that fell short of forecasts, while profit topped estimates.
McDonald’s (NYSE:MCD) shares dropped 1.3% after the fast-food restaurant chain reported earnings that came in below expectations.
Herbalife Ltd. (NYSE:HLF) jumped 23% -- the biggest one-day percentage gain -- after the supposed “death blow” that hedge-fund manager Bill Ackman intended to deliver against the company had the opposite effect. http://www.marketwatch.com/story/us-stocks-futures-climb-ahead-of-inflation-data-apple-2014-07-22
Gold turns south as safe-haven demand ebbs
Bank of America Merrill Lynch says worst may be over for precious meta
SAN FRANCISCO (MarketWatch) — Gold prices declined on Tuesday amid what’s shaping up to be a decent earnings season, dampening safe-haven demand that had emerged on the back of developments in Ukraine and the Gaza Strip.
Gold for August GCQ4 -0.57% delivery shed $7.60 to settle at $1,306.30 an ounce. September silver SIU4 -0.06% closed flat at $21 an ounce.
In a sign that investors have turned more upbeat, the S&P 500 set a fresh intraday record and is within striking distance of its record close set earlier this month, led by stellar results from Chipotle Mexican Grill Inc. CMG +11.73%
That’s quite different from a day earlier, when gold, platinum and silver all caught another lift from fears stoked by the simmering tensions abroad.
From a technical perspective, Kitco’s Kira Brecht is mostly bullish on gold.
“The near-term outlook is sideways to higher as long as support at $1,294 holds firm,” she said. “If a strong rally were seen above the ‘neckline’ trendline in the days or weeks ahead, more substantial gold market gains could be targeted into the late summer or early fall months.”
Brecht was referring to a potential “inverted head and shoulders bottom formation” she can see forming on the daily chart. The pattern is used to predict the reversal of a current downtrend. (see insert chart) http://www.marketwatch.com/story/gold-turns-south-as-earnings-data-mount-2014-07-22
HLF 66.46 +12.44 +23.03% What a rush!
Existing-home sales rise 2.6% in June
WASHINGTON (MarketWatch) -- Rising for a third month, sales of existing homes grew 2.6% in June to a seasonally adjusted annual rate of 5.04 million, reaching the highest level since October, the National Association of Realtors reported Tuesday. Economists polled by MarketWatch had expected the sales rate to increase to 5 million in June from an originally reported 4.89 million in May, driven by a strengthening labor market, more homes on the market, and cooling price growth. On Tuesday NAR revised May's sales rate to 4.91 million. Market conditions are becoming more balanced, but anecdotes still point to a shortage of homes on the market, said Lawrence Yun, NAR's chief economist. The median sales price of used homes hit $223,300 in June, up 4.3% from the year-earlier period. June's inventory was 2.3 million existing homes for sale, a 5.5-month supply at the current sales pace. The number of homes available for sale was up 6.5% from the year-earlier period. Including June's increase, the pace of sales was down 2.3% from a year earlier.
Early movers: KO, MCD, VZ, AAPL, NFLX, CS & more
http://www.cnbc.com/id/101855298
‘Misery’ and other ingredients for a bear market are still missing
This being the most hated bull market in memory, it’s no surprise that traders and investors are nervously looking for the catalyst that will spark not only the next selloff, but the next bear market.
But so far, some of the most crucial ingredients for a full-fledged retreat remain missing, a pair of analysts argued in separate notes Monday.
First up, Ed Yardeni of Yardeni Research. He argues that the next bear market will be caused by the next recession. Recessions are usually the caused by a tightening of monetary policy. While the Fed is likely to start hiking rates next year from near-zero levels, it’s hard to see the move causing a recession “right away,” he argues, although it is possible that even a modest tightening could shock the financial system.
For now, he’s penciling in growth through at least the end of 2015. As for the relationship between stocks and the economy, Yardeni puts a lot of emphasis on his “misery index” (see chart above), which is the average of the unemployment rate and a core inflation measure. The index fell to 7.8% in May from the most recent cyclical peak of 11.5% in March 2010. If unemployment continues to fall at its current pace, it would hit 5.5% by December, while inflation, though on the rise, is likely to remain subdued at around 1.5%, he says. http://blogs.marketwatch.com/thetell/2014/07/21/misery-and-other-ingredients-for-a-bear-market-are-still-missing/
Gasoline, food prices seen lifting inflation in June
Rising gasoline and food prices likely drove an increase in consumer prices in June, according to economist forecasts.
Economists polled by MarketWatch expect the government to report Tuesday morning that the consumer-price index rose 0.3% in June. A 0.3% rise would be slower than 0.4% in the prior month, but higher than an average monthly gain of 0.2% over the year through May, according to the Bureau of Labor Statistics. Stripping out volatile food and energy categories, economists expect this core reading to show inflation of 0.2% in June, compared with 0.3% in May.
The CPI has climbed from as low as 1.1% year-on-year in February to 2.1% in May. Federal Reserve Chairwoman Janet Yellen has described the increase as “noisy.” The Fed’s favored gauge of inflation – the Bureau of Economic Analysis’s personal-consumption-expenditures index – has also shown a substantial pickup in recent months, with annual inflation hitting 1.8% in May, compared with 0.8% in February.
BLS will release the inflation data at 8:30 a.m. Eastern.
Later Tuesday morning, the National Association of Realtors will report on existing-home sales, and economists expect an annual rate of 5 million for June, compared with a 4.89 million pace in May. At least three factors are working in favor of home sales: mortgage rates have trended down since the year started, home-price growth is cooling off and there are more properties available for sale.
However, economists still expect existing-home sales for all of 2014 will wind up below last year’s final tally, pulled lower by a weak first quarter.
NAR will release the home-sales data at 10 a.m. Eastern.
U.S. stocks: Futures climb ahead inflation data, Apple
Stocks set to rebound after geopolitical-driven decline
LONDON (MarketWatch) — U.S. stock futures indicated a slightly higher open on Wall Street on Tuesday, ahead of inflation and housing data. Prominent earnings reports from Coca-Cola Co. and McDonald’s Corp. will come premarket, with Apple Inc. reporting after the closing bell.
Futures for the Dow Jones Industrial Average (CBE:DJU4) rose 26 points, or 0.2%, to 17,009, while those for the S&P 500 index (GLC:SPU4) picked up 2.90 points, or 0.2%, to 1,969.20. Futures for the Nasdaq 100 index (GLC:NDU4) climbed 7.75 points, or 0.2%, to 3,933.50.
Investors are facing a busy day both on the data and the corporate front, with second-quarter results set to come through thick and fast.
The highlight among macroeconomic releases ia the June inflation report, due at 8:30 a.m. Eastern Time. It is forecast to show consumer prices rose 0.3% in June , slower than the 0.4% reported in May. Rising gasoline and food prices likely drove the expected increase in consumer prices, according to economic forecasts.
Later Tuesday morning, the National Association of Realtors will report on existing-home sales at 10 a.m. Eastern Time, and economists expect an annual rate of 5 million for June, compared with a 4.89 million pace in May. The FHFA house-price index is also due in the morning. http://www.marketwatch.com/story/us-stocks-futures-climb-ahead-of-inflation-data-apple-2014-07-22?dist=beforebell
Chipotle, Herbalife and McDonald’s are stocks to watch Tuesday
These stocks could see notable moves on Tuesday.
Johnson & Johnson (NYSE:JNJ) : Said late Monday its board approved a $5 billion share buyback plan.
Chipotle Mexican Grill Inc. (NYSE:CMG) : The fast-casual restaurant chain lifted its full-year sales outlook late Monday as it reported profit and sales for the second quarter that were far better than Wall Street analysts had expected.
Netflix Inc. (NASDAQ:NFLX) : The Internet-based streaming service for movies and television shows reported better-than-expected earnings and singled out the strong viewership of “Orange is the New Black.”
Texas Instruments Inc. (NASDAQ:TXN) : The chip maker’s second-quarter profit and revenue topped Wall Street estimates.
Sanmina Corp. (NASDAQ:SANM) : after the electronics contract manufacturer reported better-than-expected fiscal third-quarter results and provided an upbeat outlook for the current quarter.
Time Warner Inc. (NYSE:TWX) : The media giant adopted an amendment to its bylaws that removes the ability of shareholders to call special meetings. The amendment comes just days after Time Warner disclosed that it turned down an $80 billion buyout bid from 21st Century Fox
Herbalife Ltd. (NYSE:HLF) : Activist investor Bill Ackman says he’ll deliver a “deathblow” to the multi-level marketing company in a presentation at 10 a.m. Eastern Tuesday. The mere threat sent Herbalife shares tumbling 11% Monday.
Verizon Communications Inc. (NYSE:VZ) : The communications company, whose businesses include wireless, wireline and broadband operations, is expected to report earnings of 90 cents per share before the market opens.
Altria Group Inc. (NYSE:MO) : The cigarette company is expected to report earnings of 65 cents per share before the opening bell.
Coca-Cola Co. (NYSE:KO) : The beverage giant is expected to report second-quarter earnings of 63 cents per share early Tuesday.
Comcast Corp. (NASDAQ:CMCSA) : The cable company is expected to report second-quarter earnings of 73 cents per share before the market opens.
McDonald’s Corp. (NYSE:MCD) : The fast-food giant is expected to report second-quarter earnings of $1.44 per share early Tuesday. Investors are looking at how it plans to reverse the ongoing decline in U.S. sales.
TD Ameritrade Holding Corp. (NYSE:AMTD) : The online broker is expected to report fiscal third-quarter earnings of 34 cents per share before the opening bell.
United Technologies Corp. (NYSE:UTX) : The company, which provides products and services to the building and aerospace industries, is expected to report second-quarter earnings of $1.74 a share before the market opens.
Yahoo (NASDAQ:YHOO) : Yahoo said it will acquire Flurry, a mobile analytics company.
After-hours buzz: Apple, Chipotle, Netflix & more
http://www.cnbc.com/id/101853613
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U.S. stocks end lower amid geopolitical tensions
EMC rallies on Elliott Management Corp stake news
NEW YORK (MarketWatch) — U.S. stocks closed lower on Monday as investors remained jittery amid escalating war in Gaza and possible tougher sanctions against Russia.
The death toll inside Gaza mounted over the weekend as Israel stepped up its ground war, while European policy makers debated tougher sanctions against Russia in the wake of the downing of a Malaysia Airlines passenger jet.
The S&P 500 (SNC:SPX) closed 4.58 points, or 0.2%, lower at 1,973.64, with 9 of 10 sectors in the red. The Dow Jones Industrial Average (DJI:DJIA) shed 48.45 points, or 0.3%, to 17,051.73. The Nasdaq Composite (NASDAQ:COMP) slipped by 7.44 points, or 0.2% at 4,424.70.
Quincy Krosby, market strategist at Prudential Financial, said that investors do not react to geopolitical news unless they think it would impact the earnings potential of companies.
“There is a notion that markets are callous to horrendous events in Gaza and Ukraine, but markets are not think-tanks. At the end of the day, it’s all about companies’ abilities to earn a profit,” Krosby said.
There were no economic events for Monday and a scant amount of earnings, leaving investors to face down a day of rising global tensions. http://www.marketwatch.com/story/us-stocks-futures-dip-on-israel-russia-headlines-2014-07-21
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