Pre-opening Comments for Thursday February 13th
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 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 330,000 versus 331,000 last week. Actual was 339,000. Consensus for January Retail Sales was unchanged versus a revised decline of 0.1% in December. Actual was a drop of 0.4%. Ex Auto Sales, consensus for January Retail Sales was an increase of 0.1%. Actual was unchanged.
Time Warner Cable jumped $12.45 to $147.76 on news that Comcast officially will make an offer to purchase the company on a share exchange at $158.82 per share. Value of the offer is estimated at $45.2 billion.
Agnico-Eagle fell $0.28 to $32.60 after BMO Capital downgraded the stock from Outperform to Market Perform. Target is $36.
NVIDIA gained $0.50 to $17.33 after B. Riley upgraded the stock from Neutral to Buy. Target was increased from $14 to $21.
EquityClock.com’s Daily Market Letter
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Don Vialoux on BNN’s “Market Call Tonight” Yesterday
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Crude oil and its related ETFs reached a four month high.
Seasonality in the Semi-conductor sector continues to work.
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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 12th 2014