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$BBY up $1.40 off of LOD.
$MS $1 pop off LOD now green. $GS nHOD.
US EIA Natural Gas Storage Change (Jan 9) W/W -236 vs. Exp. -229 (Prev. -131) $UNG $DGAZ $UGAZ $BOIL
$KRFT nHOD upgrade by GS. GS buying US staples with growth - upgrades $KRFT $HSY and downgrades $PM $TAP.
Philadelphia Fed Jan Business Index 6.3 Vs Dec 24.3
Consumer confidence in U.S. increases to highest level since July 2007 http://bloom.bg/1CqANjX
$BP ramp and pop.
US to implement loosening of Cuba sanctions tomorrow, including travel, cash & telecom equipment.
$BBY Reported strong holiday sales but lowered 1st half numbers..down 12% pre-mkt
WTI crude oil is on pace for back to back 4% gains for the first time in nearly 4 years (2/23/11). $USO
Jump in jobless claims triggered by veterans being discharged & weakness in oil industry; Alaska, other oil states made the list.
Empire State Mfg Survey
Released On 1/15/2015 8:30:00 AM For Jan, 2015
Prior Prior Revised Consensus Consensus Range Actual
General Business Conditions Index - Level -3.58 -1.23 5.0 0.0 to 8.0 9.95
Highlights
The first indication on January's manufacturing sector is positive with the Empire State index rising out of contraction to plus 9.95 vs December's slightly revised minus 1.23 (initial reading minus 3.58).
New orders show respectable strength at plus 6.09 vs a near zero reading in December while shipments rose to plus 9.95 from plus 2.25. A big positive in the report is a solid gain in employment which rose to 13.68 vs 8.33. The gain here points to confidence in Empire State's sample underscored by a more than 9 point jump in the 6-outlook to 48.35.
Other readings include modest upward pressure for both input and output prices, a welcome indication given ongoing concerns over oil-related deflation. Next reading on manufacturing will be later this morning at 10:00 a.m. ET with the Philly Fed report, a closely watched report that has been showing exceptional strength in recent months.
PPI-FD
Released On 1/15/2015 8:30:00 AM For Dec, 2014
Prior Consensus Consensus Range Actual
PPI-FD - M/M change -0.2 % -0.4 % -1.0 % to -0.1 % -0.3 %
PPI-FD - Y/Y change 1.4 % 1.1 %
PPI-FD less food & energy - M/M change 0.0 % 0.1 % -0.1 % to 0.2 % 0.3 %
PPI-FD less food & energy - Y/Y change 1.7 % 2.1 %
PPI-FD less food, energy & trade services - M/M change 0.0 % 0.1 % 0.0 % to 0.2 % 0.1 %
PPI-FD less food, energy & trade services - Y/Y change 1.6 % 1.4 %
PPI-FD Goods - M/M change -0.7 % -1.2 %
PPI-FD Goods - Y/Y change 0.4 % -1.2 %
PPI-FD Services - M/M change 0.1 % 0.2 %
PPI-FD Services - Y/Y change 1.9 % 2.2 %
Highlights
Inflation at the producer level continued to decline in December on lower energy costs. The PPI for total final demand fell 0.3 percent, following a decline of 0.2 percent in November. The consensus expected a 0.4 percent decrease. Excluding food and energy, producer price inflation firmed 0.3 percent, following no change in November. Expectations were for a 0.1 percent rise.
The index for final demand goods dropped 1.2 percent after falling 0.7 percent in November, the sixth consecutive decrease. The December decline was led by prices for final demand energy, which fell a monthly 6.6 percent. The index for final demand goods less foods and energy rebounded 0.2 percent, following a dip of 0.1 percent in November. Prices for final demand foods declined 0.4 percent after decreasing 0.2 percent in November.
The index for final demand services advanced 0.2 percent in December after inching up 0.1 percent in the prior month. In November, prices for final demand services less trade firmed to 0.2 percent after rising 0.1 percent in November.
On a seasonally adjusted year-ago basis, PPI final demand was up 1.1 percent, compared to 1.4 percent in November. Excluding food & energy, PPI final demand was up 2.1 percent versus 1.7 percent the month before.
Overall, inflation pressures remain subdued at the producer level. This will help the Fed remain loose with monetary policy.
With the redefined and expanded PPI Final Demand series, energy still creates monthly volatility. However, services and construction have softened the headline and core numbers.
Data Source: Haver Analytics
A sluggish economy in 2013 and 2014 slowed inflation at the producer level.
Data Source: Haver Analytics
Jobless Claims
Released On 1/15/2015 8:30:00 AM For wk1/10, 2015
Prior Prior Revised Consensus Consensus Range Actual
New Claims - Level 294 K 297 K 295 K 281 K to 325 K 316 K
4-week Moving Average - Level 290.50 K 291.25 K 298.00 K
New Claims - Change -4 K -1 K 19 K
Highlights
Jobless claims jumped sharply in the January 10 week, up 19,000 to a 316,000 level that's the highest since September. The 4-week average is up 6,750 to 298,000 which is about even with the month-ago comparison.
Data on continuing claims, which are reported with a 1-week lag, are mixed. Continuing claims fell 51,000 in the January 3 week to 2.424 million but the 4-week average rose 12,000 to 2.415 million in a comparison that is also about even with a month ago.
There are no special factors in today's report though the jump in initial claims could be tied to first-of-the-year volatility, a possibility that may limit the report's impact on today's markets.
Weekly series fluctuate more dramatically than monthly series even when the series are adjusted for seasonal variation. The 4-week moving average gives a better perspective on the underlying trend.
Data Source: Haver Analytics
I use to couple times a year....for specialty batteries or computer fans (which I cooled my halogen lighting in my aquarium).
Now for the last year I use cool LED lighting in the aquarium and order the special batteries from amazon. lol
Target surges on plan to exit Canada; raises Q4 US comp guidance to +3% from +2% TGT
@zozotrader: S&P futures +2.65 link http://t.co/sgPdZWQPGB
@zozotrader: Some earnings after Thursday’s close
$INTC, OZRK, PBCT, SLB, WTFC
$INTC expected time 4:15 pm et conference call at 5:00 pm et
@zozotrader: Some earnings before Thursday’s open
$BAC, BLK, CVGW, $C, CBSH, $FAST, FRC, HOMB, $LEN, PPG, TSM
RadioShack preparing to file for bankruptcy protection as soon as next month, people familiar with the matter say - DJ • $RSH
oil $USO $UCO $UWTI.
Overall job market shows signs of strengthening at year-end 2014 http://1.usa.gov/1xZHARK | #BeigeBook
Fed Beige Book: U.S. Economy Continued to Expand in Late 2014
$CZR Caesars says it will file new bankruptcy in Chicago tomorrow http://bloom.bg/1yh4u7M
Crude Crumbles On Unexpectedly Large Inventory Build http://www.zerohedge.com/news/2015-01-14/crude-crumbles-unexpectedly-large-inventory-build …
DOE: US Refineries Ran At 91.0%; Seen 93.70%
DOE: US Distillate Stocks +2.925 Mln Bbl At 139.851 Mln Bbl
DOE: US Gasoline Stocks +3.171 Mln Bbl At 240.334 Mln Bbl
DOE: US Crude Oil Stocks +5.389 Mln Bbl At 387.782 Mln Bbl
November 2014 Us business inventories 0.2% vs 0.2% exp m/m http://bit.ly/1FVPMrT
The shrinking deficit means fewer new bonds http://read.bi/14wJn58
$VOLI up 14% on the open.
$GME GameStop shares pop 13% on upgrade.
$TSLA $8 pop at open.
$USO at nHOD bears might start losing grip here.
BTD anyone? I'm out of UVXY and into some SPY 203 calls.
14:31 U.S. Reports Smallest Budget Deficit Since 2007 -- 2nd Update -
By Josh Zumbrun WASHINGTON--The U.S. Treasury posted a $2 billion surplus in December, making the deficit for calendar year 2014 the smallest since 2007. Over the previous 12 months, the government reported a deficit of $488 billion, down from $560 billion for calendar year 2013. The government's fiscal picture has improved dramatically since President Barack Obama's first term as president. From 2009 to 2012, the government recorded deficits of over $1 trillion. Reducing the size of the deficit became a political priority in Washington, but Republicans in Congress and the White House disagreed on strategies to reduce the deficit, leading to repeated legislative battles over the government's budget and statutory borrowing limits. Following last year's midterm elections, Republicans now control both houses of Congress, and take charge with the gap between the government's outlays and receipts much smaller than before. The government's fiscal year starts on October 1. In the first three months of the fiscal year, the deficit has totaled $177 billion. That is little changed from the $173 billion deficit at the same point in the previous fiscal year. Driven by an improving economy, the government brought in $335 billion in receipts this December, up from $285 billion last December. In the last quarter, the government brought in $739 billion compared with $666 billion a year earlier. Spending climbed to $333 billion in December, up from $232 billion. Over the last quarter, that is $916 billion in spending, an increase from $839 billion a year earlier. Though the deficit over the past three months was little changed from the prior year, the government did receive a one-time payment of $24 billion from government-controlled mortgage lender Freddie Mac in December of 2013, which lowered the deficit level for that quarter. If not for that payment, the deficit for the last three months of 2014 would have shown a reduction from the previous year. The nonpartisan Congressional Budget Office has projected the deficit for 2015 will narrow further, but will start widening again in 2016 due to increased spending on Social Security and health care due to the aging of the population. Write to Josh Zumbrun at Josh.Zumbrun@wsj.com (END) Dow Jones Newswires January 13, 2015 14:31 ET (19:31 GMT) Copyright (c) 2015 Dow Jones & Company, Inc. 011315 19:31 -- GMT
$FSLR making nHOD. Solar's bouncing a bit today.
both work...scalps only short term.