U.S. equity futuresare pointing to a modestly lower open after the revenue miss from Dow component (IBM). The earnings season is in full swing, and there is not much else for investors to focus on, as little economic data is expected to be released. The market may get off to a slow start as the Northeast region of the country digs itself out from a snowstorm amid frigid temperatures that are likely to continue for the remainder of the week. Volatility jumped slightly yesterday as stocks traded in a wide range. The CBOE Volatility Index (VIX) rose above $13 at one point before settling at $12.87. Stocks gyrated from positive to negative and back by the close on Tuesday.
Bonds are a little lower, in tandem with losses overseas, amid strong trading volume. Yields have bounced off of their lowest levels since around mid-December as the 10-year yield struggles to make it back to the 3% level. U.K. Gilts underperformed global bond markets after better than expected labor data and as the minutes to the January policy meeting showed the Committee acknowledged a quicker pace of recovery in the labor market than expected. And in Japan, the central bank left policy unchanged and remained committed to its ultra-accommodative stance as it downgraded its outlook on 2014-15 growth slightly. The MBA announced a 4.7% increase in mortgage applications for the week ended January 17. There's little on the U.S. calendar today, which will keep the focus on earnings reports.
Stock Stories:
International Business Machines (IBM) – Feeling BLUE – The tech servies leader posted mixed earnings after the close yesterday. The company beat on EPS but missed again on top-line revenue. Analysts believe this quarter may be a bottom for profits. The shares are down 3% ahead of the opening bell but could bounce if buyers believe the analyst expectations going forward.
Amazon.com (AMZN) – What TV? – The online retail behemoth denies reports the company as plans to launch an online Pay-TV service. The WSJ reported that the company had talks with several networks. The shares are down slightly in the pre-market.
Major Economic Reports:
6:00 am CT – MBA Purchase Applications – (up 4.7%
6:45 am CT – GS Store Sales – (-1.9% for the week)
Notable Earnings:
Before Market: ABT, ATI, COH, EAT, FCX, GD, NSC, NTRS, PGR, STJ, TXT, USB, UTX, VIVO
After Market: CCI, EBAY, FBC, FFIV, JEC, NFLX, SNDK, TER, WDC
Thursday – 1/23: BAX, DFS, ISRG, KLAC, LMT, MCD, MSFT, SBUX, UAL, UNP |
发表于 2014-1-22 10:04
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