Shawshank, VA 10/17/2011 (PennyPayDay) – The main US equity benchmarks are now registering moderately strong falls (Dow Jones Industrial: -94, Nasdaq Comp.: -19, S&P 500: -10). The above following some sobering remarks out of Berlin this morning from Chancellor Angela Merkel´s spokesman, a modestly weaker than expected read on the New York Fed´s manufacturing index and ‘mixed’ results out before the opening bell from the likes of Wells Fargo. Citigroup, on the other hand, traded up following its own results. Merger activity has taken off this weekend in the energy patch. Kinder Morgan has offered $21.1bn for El Paso, while Norwegian outfit Statiuk ASA has launched a bid on Brigham Exploration.
Sprint is gaining sharply after reporting record sales of the new iPhone 4S.
Morgan Stanley, Citi, and Goldman could benefit from positive coverage in the latest edition of Barron´s.
Results from Halliburton and Hasbro have come in weaker than expected.
Caterpillar could trade up on the back of a positive research note from Goldman Sachs.
MACROECONOMY
The Federal Reserve Bank of New York´s manufacturing sector index for the month of October has come in at -8.5, from -8.8 the month before (Consensus: -5.0).
Industrial production rose at a 0.2% on month rate in the month of September (Consensus: 0.2%), but several readings on the manufacturing sector for the past few months were marked down.
OTHER MARKETS
Front month West Texas crude futures are now down by 0.75%, to $86.15/barrel in NYMEX trading.
10 year US Treasuries are gaining 16/32 dollars, with yields at 2.19%.
PennyPayDay Disclaimer
No comments:
Post a Comment