Hello traders and investors! Welcome to the trading week of Apr 18th! Earnings this week include: This past week saw the following moves: This is when stock traders will get to the 'down and dirty' Patti Domm | @pattidomm Earnings from big tech, industrials and financial firms should all drive trading in the week ahead, but what traders are waiting for first is the fallout from Doha on oil prices. The meeting in Qatar this weekend between OPEC and non-OPEC oil producers has been much heralded but was also seen yielding low results. At best, analysts expect a loose agreement to freeze production between Saudi Arabia, Russia and others, with few details or commitments. It may even involve an announcement of a follow-up meeting. "Doha is important. When you think about it, at best we're going to get what everyone expected. Otherwise, there's no upside. It's a question of whether they match expectations. It will be in line or worse," said Peter Boockvar, chief market analyst at The Lindsey Group. "To me, it's all about earnings for the next two weeks. ... Now you get to the down and dirty — the core of everything going on in the macro world in the first quarter, like China, and what did that mean for corporate profits." Boockvar said in the past two weeks, the stock market lost some of its correlation to oil, but analysts say it could be a factor if crude declines sharply after the Sunday meeting. Stocks closed out the week with gains. The S&P 500 was up 1.6 percent to 2,080, and the Dow rose 1.8 percent to 17,897. The top-performing sector was financials, up nearly 4 percent as banks reported earnings. Energy was up 2 percent as oil rose ahead of the Doha meeting but it sold off Friday, as traders locked in profits amid concerns the meeting would not go well. West Texas Intermediate was up 1.6 percent for the week, settling at $40.36 per barrel, even with a 3 percent decline Friday. "If we don't get some confirmation of a freeze, some of this (stock) rally could be at risk," said Gina Martin Adams, institutional equities strategist at Wells Fargo Securities. About a fifth of the S&P 500 companies and 14 of the 30 Dow stocks report earnings in the week ahead.
In a nut shell, these are the only two levels that are important. Bulls need to see some more risk-on actions, which means small caps need to get over this resistance here: Banks are an important driver in this market, they are way off from the resistance, but again, bulls need to see this kind of action justify further market gains.
http://www.cnbc.com/2016/04/18/early-movers-ms-pep-has-athm-c-dis-tm-gm-mdvn-nflx-more.html Lucas Jackson | Reuters Traders work on the floor of the New York Stock Exchange. Check out which companies are making headlines before the bell: Morgan Stanley — The investment bank earned 55 cents per share for the first quarter, 9 cents above estimates, with revenue essentially in line. Investment banking was a weak spot, but fixed income and investment management results were better than expected. PepsiCo — The snack and beverage giant reported quarterly profit of 89 cents per share, 8 cents above estimates, with revenue in line. Pepsi's profit margins expanded and it saw its best increase in organic beverage sales in nearly three years. Hasbro — The toymaker beat estimates by 14 cents with quarterly profit of 38 cents per share, while revenue topped analyst forecasts by a wide margin as well. Hasbro's results were powered by toys based on "Star Wars: The Force Awakens." Autohome — The China-based online car buying service received a non-binding "going private" proposal from a consortium led by Chief Executive Officer James Zhi Qin. The offer is worth nearly $3.6 billion or $31.50 per American depositary share. Citigroup — Keefe Bruyette & Woods downgraded Citi to "market perform" from "outperform," saying that its most recent quarterly beat was of "low quality" and that the stock is fairly valued. Walt Disney — Pivotal Research upgraded the stock to "buy" from "hold," saying many investor concerns are already priced into the stock. Separately, Disney's "The Jungle Book" won the weekend box office by a wide margin, taking in $103.6 million in North American ticket sales and ranking as the second best ever April opening. McGraw Hill Financial — The Standard & Poor's parent reached an agreement to sell car rating business J.D. Power to China-based buyout firm XIO Group for $1.1 billion. The deal represents XIO's first U.S.-based acquisition. Aon — Aon raised its annual dividend by 10 percent to 33 cents per share, with the consulting firm's payout coming on May 16 to shareholders of record as of May 2. Alphabet — The company's Google unit is once again the focus of European Union antitrust regulators. EU Competition Commissioner Margrethe Vestager said she would now be focusing the company's deals with phone makers and operators involving its Android operating system. Toyota — Toyota is among the Japanese manufacturers whose shares are under pressure today following the series of deadly earthquakes in southern Japan. The automaker is planning to suspend much of its production across the country due to components shortages. Medivation — Medivation may receive a takeover bid from British drugmaker AstraZeneca, according to London's Sunday Times. However, AstraZeneca has yet to make a formal bid for the San Francisco-based cancer treatment company. General Motors, Ford — The automakers' shares could jump 25 percent in the next year, according to an article in this weekend's Barron's. The paper said auto sales are likely to come in stronger than many investors think. United Continental — United baggage handlers and gate agents approved new five-year labor deals which raise wages about 30 percent over the period as well as $100 million in lump sum payments. Netflix — Netflix could be under pressure today on news that Amazon.com will offer a standalone streaming video service that costs a dollar less per month than the most popular Netflix plan. Yahoo — Yahoo is seeing the number of potential suitors dwindle, according to reports, with Verizon the most prominent of those still said to be interested. Alphabet, Comcast, IAC/InterActive Corp., and Time Inc. are said to be among those that had been interested but decided not to pursue bids.
I am surprised oil and energy stocks are not down as much as many expected. Especially considering it has been going up in hopes that this meeting would result in agreement... I am sure Kuwait strike helped but as far as I know they already have enough reserves to cover for 2-3 weeks of downtime.
sheesh...got busy with work, and was going to see if I could catch the bounce, but missed it completely....ugh
Serves you right for working! Oil rebound is pretty good so far, but lets see if those opening lows hold today.
lol I hate trying to work & trade at the same time...so I don't do it. I'll have to go back to work here in a few....I'll catch a big move sometime this week.
VDE went positive within an hour after starting with almost -2% . Oil is still down close to -3%. What does this mean? Bulls are really in control or just a head fake? Also can someone tell me how to add live charts in this site?
