Lots of Earnings 15 July 2009

Wed, 15 Jul 2009 11:16:31 +0000

Goldman Sachs (GS) higher than expected profits (though mostly trading profits which will not be repeated by other banks), Intel (IITC) predicted a better second half, and Johnson and Johnson (JNJ) good results raised Asia overnight. So Asia has had two up days.

Hang Seng (Hong Kong): +2.09%

Australia: +3.41%

Nikkei 225 (Japan): +0.88%

Europe at mid-day:

FTSE 100 (UK): +1.58% at 11:15 AM

DAX (Germany): +1.77% at 12:15 PM

CAC 40 (France): +1.88% at 12:15 PM

Europe up nicely, perhaps on news of 14 month high in new car registrations.

SPY after hours: 1.0% at 6:21 AM

QQQQ after hours: 1.7%

Economic Indicators: June Consumer Price Index (CPI) comes out at 8:29 AM EST. CPI is half of a percent lower than last year.

The Empire Manufacturing report for June comes out at 8:29 AM too. It shows manufacturing in New York State and is expected to decline.

Industrial production is expected to show a June drop of 0.6% after Mya’s drop of 1.1% when announced at 9:14 AM EST. Capacity utilization is also expected to decline to 67.9% from 68.3%.

9:00 AM Abbott Labs (ABT), drug company, has Q2 earnings call.

9:15 AM Yum! Brands, Inc. (YUM), fast food restaurants, has Q2 earnings conference call.

10:00 AM Gannett (GCI), newspaper publisher, has Q2 earnings call.

11:50 AM Best Buy Co., Inc. (BBY), electronics retailer has a webcast from the Oppenheimer & Co. Consumer, Gaming, Lodging & Leisure Conference.

1:30 PM KLA-Tencor (KLAC), designs and manufactures equipment for the semiconductor industry, briefs analysts.

Rebound or Flat Today, 8 July 2009?

Wed, 08 Jul 2009 11:50:35 +0000

The Hang Seng closed down 0.79% today in Hong Kong, while Australia closed down 0.55%. Japan’s Nikkei 225, their large cap index, is down 2.35% for the day.

Halfway through their trading day, the FTSE 100 (UK) and the DAX (Germany) and the CAC 40 (France), are flat.

The S&P 500 closed yesterday, Tuesday, right on support at 881. In overnight Globex trading the S&P futures are up half a percent and the Nasdaq futures are up nearly as much.

Crude oil inventories are announced at 10 AM EST and consumer credit increase or decrease for May at 3 PM EST. Reported consumer credit use has been dropping every month since August 2008 except for an increase in September 2008 (back to school) and January 2009 (Christmas). Last month it dropped by $16 B. Consumer credit use report today is exected to show an $8.8B drop over last month.

Family Dollar Stores, FDO, and Pepsi Bottling Group, PBG, have earnings conference calls at 10AM EST and 11 AM respectively; Alcoa Aluminum, AA, has its call at 5 PM EST.

Trade Naked » Earnings Conference

Lots of Earnings 15 July 2009

Rebound or Flat Today, 8 July 2009?