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Market Talk / April 29th - May 5th
- Thread starter Spaf
- Start date
Show-me
Well-known member
Market rolled over on the Core PCE. Income went up and spending down. Market is starting to worry that our "consumer driven economy" may hit a rough patch. Also, the savings rate has improved from a -1.2% to -0.8%. It may not seem like much, but the market is realizing that the consumer is coming to its senses and spending less. About time!
weatherweenie
Well-known member
8:00am ET [BRIEFING.COM] S&P futures vs fair value: +2.6. Nasdaq futures vs fair value: +3.3. A day after investors decided to cash in some of April's sizable gains, futures indications currently suggest stocks may get back on the buying track. Procter & Gamble (PG) following up a 14% rise in Q3 profits with upside FY07 EPS guidance and an analyst upgrade on fellow Dow component Verizon Communications (VZ) appear to be contributing to the improved sentiment. However, the market's slightly positive disposition is certainly subject to change with a key reading on national manufacturing activity scheduled for release at 10:00 ET and Fed Chairman Bernanke speaking at 11:00 ET on free trade.
A lot I know. They rejected it....Rupert Murdoch offers $60 a share to buy a $36 a share company (Dow Jones & Co. - publishers of the Wall Street Journal). What's up with that? Reminds me of the tech bubble.
May 1, 8:54 PM (ET)
By SETH SUTEL
NEW YORK (AP) - Rupert Murdoch's News Corp. (NWS) (NWS) offered to buy Dow Jones & Co. (DJ) (DJ) for $5 billion, but the deal, which would add The Wall Street Journal to Murdoch's global media empire, faces doubtful prospects since Dow Jones' controlling shareholders said Tuesday they would vote against it.
http://apnews.myway.com/article/20070502/D8ORU2V81.html
weatherweenie
Well-known member
Briefing.com 08:30 am : S&P futures vs fair value: +2.7. Nasdaq futures vs fair value: +1.2. The S&P 500 and Nasdaq 100 futures are still trading above fair value but have slipped from their recent highs as a report showing the weakest job growth in nearly four years does little to quell concerns about the pace of economic growth. Within the last 15 minutes the monthly ADP employment report showed that an estimated 64,000 new private jobs, or roughly 90,000 nonfarm jobs, were created in April. Even though the monthly ADP report lacks credibility, as today marks its one-year anniversary, the data suggest a softening in the tight labor market. Economists expect Friday's more closely-watched and well-established April nonfarm payrolls figure to check in around 100,000.
Spaf
Honorary Hall of Fame Member
The Kingdom of TSP
Daily Edition
May 02, 2007 Closing
Daily Edition
May 02, 2007 Closing
Yak, Le Charts, Doodles, Tea Leaves, 5-Tribes, and The Barn Yard
Kingdom Yak:
Pro-Yak....................................SPX still bullish! Moving average rising on buying interest.
Con-Yak...................................SPX trading within bands, neither overbought or oversold. Stochastics registering bearish with %K under %D.
Jester-Yak................................
Doodles:
Stops.......................................Alert (-1%)....Trail (-2%)
.....SPX........1495.92 +9.62.........1480.............1465
Dollar........................................81.76 +0.12 for the day.
Lube (NYMEX) Closed at...............63.68 -0.72 for the day.
Oil Markers.................................<60= ok, 60-65= worry, >65= panic.
Tea Leaves:
Yakndoodles...............................Yellow!
5-Tribes
Tomorrow...................................Tribes holding 4.5 bears and 0.5 a bull.
The Barn Yard
Location....................................100% G.
You must have been asleep in either 2000, 2001 or 2002? Which one?
Wolverine
Member
I keep saying we need a Spaf to English translation forum.
For sure Tom.....LOL
I thought I would start with the Tribe translation first and see what happens. We might get lucky......:laugh:
weatherweenie
Well-known member
Briefing.com
08:00 am : S&P futures vs fair value: +0.6. Nasdaq futures vs fair value: -0.5. With the Dow closing in record territory for the 17th time this year, the S&P 500 coming within a point of hitting 1,500 and the Nasdaq surging 1.0% to a fresh 6-year high yesterday, it's not surprising to see stocks take a bit of a breather this morning.
Meanwhile, General Motors (GM) heads today's list of earnings reports, posting its first consecutive quarterly profit since 2004. However, the Dow component's Q1 net income plunging 90% year/year and checking in well below Wall Street forecasts, due primarily to large losses in its GMAC division amid continued subprime mortgage weakness, is contributing to the market's underlying sense of caution. GM shares are down 3.5% in pre-market action.
08:00 am : S&P futures vs fair value: +0.6. Nasdaq futures vs fair value: -0.5. With the Dow closing in record territory for the 17th time this year, the S&P 500 coming within a point of hitting 1,500 and the Nasdaq surging 1.0% to a fresh 6-year high yesterday, it's not surprising to see stocks take a bit of a breather this morning.
Meanwhile, General Motors (GM) heads today's list of earnings reports, posting its first consecutive quarterly profit since 2004. However, the Dow component's Q1 net income plunging 90% year/year and checking in well below Wall Street forecasts, due primarily to large losses in its GMAC division amid continued subprime mortgage weakness, is contributing to the market's underlying sense of caution. GM shares are down 3.5% in pre-market action.
weatherweenie
Well-known member
8:33am ET [BRIEFING.COM] S&P futures vs fair value: +4.0. Nasdaq futures vs fair value: +3.0. Futures indications spike higher in response to this morning's economic data, now suggesting an upbeat start for stocks. A preliminary read on Q1 productivity rose a healthy 1.7% (consensus 0.8%) as unit labor costs rising just 0.6% eases wage-inflation worries. Initial claims fell 21K to 305K (consensus 310K); but the claims report has not had as much of an impact on trading as the productivity data since investors will now turn their focus to tomorrow's more influential employment report to get a clearer picture of labor conditions.
Spaf
Honorary Hall of Fame Member
The Kingdom of TSP
Daily Edition
May 03, 2007 Closing
Daily Edition
May 03, 2007 Closing
Yak, Le Charts, Doodles, Tea Leaves, 5-Tribes, and The Barn Yard
Kingdom Yak:
Pro-Yak....................................SPX still bullish!
Con-Yak...................................SPX trading within bands. Stochastics registering bullish with %K above %D.
Jester-Yak................................Gotta resist buying high!
Le Charts
None for the day
None for the day
Doodles:
Stops.......................................Alert (-1%)....Trail (-2%)
.....SPX........1502.39 +6.47.........1487.............1472
Dollar........................................81.95 +0.19 for the day.
Lube (NYMEX) Closed at...............63.19 -0.49 for the day.
Oil Markers.................................<60= ok, 60-65= worry, >65= panic.
Tea Leaves:
Yakndoodles...............................Yellow!
5-Tribes
Tomorrow...................................Tribes holding 4.5 bears and 0.5 a bull.
The Barn Yard
Location....................................100% G.
ATCJeff
Well-known member
NEW YORK (Reuters) - Microsoft Corp. has intensified its pursuit of a deal to take over Yahoo Inc. , asking the company to re-enter formal talks, the New York Post reported on its Web site on Friday.
While the two companies have held informal deal talks over the years, the latest approach signals a new urgency on Microsoft's part, the paper said, citing unnamed sources.
The approach follows an offer Microsoft made to buy Yahoo a few months ago, the Post reported, but Yahoo spurned the advances.
The Post said Wall Street sources put a roughly $50 billion price tag on Yahoo.
Microsoft and Yahoo could not immediately be reached for comment.
Copyright 2007 Reuters
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&Date=20070504&ID=6846019
While the two companies have held informal deal talks over the years, the latest approach signals a new urgency on Microsoft's part, the paper said, citing unnamed sources.
The approach follows an offer Microsoft made to buy Yahoo a few months ago, the Post reported, but Yahoo spurned the advances.
The Post said Wall Street sources put a roughly $50 billion price tag on Yahoo.
Microsoft and Yahoo could not immediately be reached for comment.
Copyright 2007 Reuters
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&Date=20070504&ID=6846019
ATCJeff
Well-known member
NEW YORK (AP) - Corporate America's strong profits helped drive the Dow Jones industrials past 13,000 for the first time last week, but investors will want to see if U.S. consumers also have financial muscle before pushing stocks much higher.
In addition to more earnings data, market participants will be examining this week's data on personal spending and the job market. Now that the Dow has gained more than 760 points since April began, some investors are proceeding cautiously -- upcoming data showing the economy is slowing too quickly or that inflation is getting out of control could trigger a sell-off. High inflation keeps the Federal Reserve from lowering interest rates, which would boost spending.
Currently, though, Wall Street is optimistic: first-quarter earnings data have shown about two-thirds of Standard & Poor's 500 companies beating analyst estimates, and most economic data have presaged cooling growth but not recession. Even a lower-than-expected reading on first-quarter gross domestic product failed to stifle the Dow's climb Friday, and the blue-chip index hit its 37th record close since October.
The Dow is up 1.23 percent for the week; the S&P 500 index is up 0.65 percent; and the Nasdaq composite index is up 1.22 percent.
On Monday, the Labor Department reports on personal spending, income, and core personal consumption expenditures inflation -- a gauge of cost of living. The market expects that personal income for March rose 0.6 percent, the same as February; personal spending rose 0.4 percent, lower than the 0.6 percent in February; and core PCE inflation was 2.1 percent year-over-year, down from 2.4 percent the previous month, according to the median estimate of economists surveyed by Thomson Financial.
Later, on Friday, the Labor Department reports on nonfarm payrolls and unemployment. Economists forecast that nonfarm payrolls rose by 135,000 in April, less than 180,000 in March, and that the unemployment rate rose to 4.5 percent from 4.4 percent.
A HEAVY SCHEDULE OF ECONOMIC DATA ...
In addition to personal spending and income, investors on Monday will be looking at the Chicago Purchasing Managers Index of regional manufacturing and the Commerce Department's construction spending report. Economists expect the April Chicago PMI to fall to 52.0 from 61.7 in March, and March construction spending to edge up 0.3 percent after a similar gain in February.
Tuesday, the Institute for Supply Management releases its index on U.S. manufacturing. Economists expect the April index to come in at 51.0, indicating slow expansion. Also Tuesday, the National Association of Realtors reports on pending sales of existing homes in March, and automakers release their April sales.
Wednesday, the Commerce Department reports on factory orders, which the market is expecting to have risen 1.0 percent in March, after a similar gain a month earlier.
Thursday, the Labor Department releases its measure of worker productivity, and the Institute for Supply Management releases its service sector index. Economists forecast that productivity rose 1.1 percent in the first quarter, less than the 1.6 percent gain in the fourth quarter. They expect the ISM's April service sector index to register at 53.5, suggesting slightly faster growth than March's reading of 52.4.
... AND MORE EARNINGS
So far, 22 of the 30 Dow components have reported earnings, and 16 of those have beat expectations. This week, three more Dow component companies will release results from the latest quarter: Verizon Communications Inc., Procter & Gamble Co. and General Motors Co.
On Monday, analysts predict Verizon will post a profit of 54 cents a share. The stock closed last Friday at $37.89, at the upper end of its 52-week range of $29 to $38.77.
On Tuesday, the market expects Procter & Gamble to report a profit of 74 cents a share. The stock closed last Friday at $62.98, in the upper half of its 52-week range of $52.75 to $66.30.
On Thursday, General Motors is expected to release results showing a profit of 87 cents a share. The stock closed last Friday at $31.56, in the upper half of its 52-week range of $22.29 to $37.24.
Other major companies releasing quarterly financial results this week include Time Warner Inc., CBS Corp. and Eastman Kodak Co.
http://news.moneycentral.msn.com/ticker/article.aspx?feed=AP&date=20070429&id=4116718
In addition to more earnings data, market participants will be examining this week's data on personal spending and the job market. Now that the Dow has gained more than 760 points since April began, some investors are proceeding cautiously -- upcoming data showing the economy is slowing too quickly or that inflation is getting out of control could trigger a sell-off. High inflation keeps the Federal Reserve from lowering interest rates, which would boost spending.
Currently, though, Wall Street is optimistic: first-quarter earnings data have shown about two-thirds of Standard & Poor's 500 companies beating analyst estimates, and most economic data have presaged cooling growth but not recession. Even a lower-than-expected reading on first-quarter gross domestic product failed to stifle the Dow's climb Friday, and the blue-chip index hit its 37th record close since October.
The Dow is up 1.23 percent for the week; the S&P 500 index is up 0.65 percent; and the Nasdaq composite index is up 1.22 percent.
On Monday, the Labor Department reports on personal spending, income, and core personal consumption expenditures inflation -- a gauge of cost of living. The market expects that personal income for March rose 0.6 percent, the same as February; personal spending rose 0.4 percent, lower than the 0.6 percent in February; and core PCE inflation was 2.1 percent year-over-year, down from 2.4 percent the previous month, according to the median estimate of economists surveyed by Thomson Financial.
Later, on Friday, the Labor Department reports on nonfarm payrolls and unemployment. Economists forecast that nonfarm payrolls rose by 135,000 in April, less than 180,000 in March, and that the unemployment rate rose to 4.5 percent from 4.4 percent.
A HEAVY SCHEDULE OF ECONOMIC DATA ...
In addition to personal spending and income, investors on Monday will be looking at the Chicago Purchasing Managers Index of regional manufacturing and the Commerce Department's construction spending report. Economists expect the April Chicago PMI to fall to 52.0 from 61.7 in March, and March construction spending to edge up 0.3 percent after a similar gain in February.
Tuesday, the Institute for Supply Management releases its index on U.S. manufacturing. Economists expect the April index to come in at 51.0, indicating slow expansion. Also Tuesday, the National Association of Realtors reports on pending sales of existing homes in March, and automakers release their April sales.
Wednesday, the Commerce Department reports on factory orders, which the market is expecting to have risen 1.0 percent in March, after a similar gain a month earlier.
Thursday, the Labor Department releases its measure of worker productivity, and the Institute for Supply Management releases its service sector index. Economists forecast that productivity rose 1.1 percent in the first quarter, less than the 1.6 percent gain in the fourth quarter. They expect the ISM's April service sector index to register at 53.5, suggesting slightly faster growth than March's reading of 52.4.
... AND MORE EARNINGS
So far, 22 of the 30 Dow components have reported earnings, and 16 of those have beat expectations. This week, three more Dow component companies will release results from the latest quarter: Verizon Communications Inc., Procter & Gamble Co. and General Motors Co.
On Monday, analysts predict Verizon will post a profit of 54 cents a share. The stock closed last Friday at $37.89, at the upper end of its 52-week range of $29 to $38.77.
On Tuesday, the market expects Procter & Gamble to report a profit of 74 cents a share. The stock closed last Friday at $62.98, in the upper half of its 52-week range of $52.75 to $66.30.
On Thursday, General Motors is expected to release results showing a profit of 87 cents a share. The stock closed last Friday at $31.56, in the upper half of its 52-week range of $22.29 to $37.24.
Other major companies releasing quarterly financial results this week include Time Warner Inc., CBS Corp. and Eastman Kodak Co.
http://news.moneycentral.msn.com/ticker/article.aspx?feed=AP&date=20070429&id=4116718
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