Pre-opening Comments for Thursday February 6th
U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.
Index futures moved lower following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 335,000 versus a revised 351,000 last week. Actual was 331,000.
Consensus for December U.S. Trade Deficit was $36.0 billion versus $34.3 billion in November. Actual was $38.7 billion. Consensus for Fourth Quarter Productivity was growth at a 2.4% rate versus a revised third quarter rate at 3.6%. Actual was growth at 3.2%.
The Canadian Dollar slipped lower following release of Canada’s December Merchandise Trade report. Consensus was a deficit of $900 million versus a revised deficit of $650 million in November. Actual was a deficit of $1.61 billion.
The Bank of England maintained its overnight lending rate at 0.5%. The European Central Bank maintained its overnight lending rate at 0.25%.
Companies that reported quarterly results before the opening included General Motors, Twitter and AOL,
Green Mountain Coffee Roasters jumped $32.09 to $112.97 after announcing that Coca Cola had acquired a 10% interest in the company.
Twitter plunged $15.00 to $50.97 after announcing lower than consensus quarterly earnings and revenues. The stock also was downgraded by four investment dealers.
Ford lost $0.13 to $14.60 after Argus downgraded the stock from Buy to Hold.
American Express added $0.28 to $84.00 after Janney Capital upgraded the stock from Neutral to Buy.
Mosaic added $0.39 to $45.25 after HSBC upgraded the stock from Underweight to Neutral
Dupont gained $0.25 to $52.15 after Sun Trust upgraded the stock from Reduce to Neutral.
Dow Chemical improved $0.15 to $45.00 after BGC Financial initiated coverage with a Buy rating.
EquityClock.com’s Daily Market Comment
Following is a link:
Mr. Vialoux on “Money Talks” last night
Topic is “Timing the Market” versus “Time in the Market”. Following is a link to the show:
FP Trading Desk Headline
FP Trading Desk headline reads, “How to play the impending zinc supply cut” Following is a link:
Special Free Services available through www.equityclock.com
Equityclock.com is offering free access to a data base showing seasonal studies on individual stocks and sectors. The data base holds seasonality studies on over 1000 big and moderate cap securities and indices. To login, simply go to http://www.equityclock.com/charts/
Following is an example:
S&P/TSX Capped Diversified Metals Seasonal Chart
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Disclaimer: Comments, charts and opinions offered in this report at www.timingthemarket.ca and www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed. Don and Jon Vialoux are Research Analysts with Horizons ETFs Management (Canada) Inc. All of the views expressed herein are the personal views of the authors and are not necessarily the views of Horizons Investment Management (Canada) Inc., although any of the recommendations found herein may be reflected in positions or transactions in the various client portfolios managed by Horizons Investment Management (Canada) Inc.
Horizons Seasonal Rotation ETF HAC February 5th 2014