Friday the 13th Market News Summary

Morning Greek

Your Market News Summary for Friday the 13th is a spooky one, but the Dow is proving that it's not so superstitious, rising fractionally to close out a tough week. This summary of the data is meant to provide you with the important info. Please look for detailed analysis from one of our columnist/analysts at the blog later in the day.

Markos N. Kaminis earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, and Mr. Kaminis has appeared across major media. While writing for Wall Street Greek, he presciently predicted the financial crisis in detail.

(Tickers: NYSE: DYN, NYSE: NRG, NYSE: BX, NYSE: JCP, Nasdaq: AMOT, Nasdaq: COWN, Nasdaq: ACFN, Nasdaq: ADES, Nasdaq: AKER, Nasdaq: APFP, Nasdaq: AMCF, Nasdaq: BEYS, Nasdaq: BIOF, Nasdaq: BRFS, Nasdaq: BLIN, NYSE: CCJ, Nasdaq: CPRX, OTC: CEDWY, NYSE: CPC, Nasdaq: CIWT, Nasdaq: CANL, Nasdaq: CTFO, OTC: CTPZY, NYSE: CIG, Nasdaq: HOOK, Nasdaq: DSCI, NYSE: DDS, Nasdaq: NYNY, NYSE: EQU, NYSE: FBR, Nasdaq: HNAB, AMEX: HUSA, OTC: JBSAY.PK, NYSE: KFS, Nasdaq: NSEC, Nasdaq: NEXS, NYSE: PBR, Nasdaq: RPBC, NYSE: RGN, AMEX: SGA, OTC: SVLSY.PK, Nasdaq: BEST, Nasdaq: SNGX, NYSE: SUP, OTC: TYABY.PK, Nasdaq: YONG, NYSE: DIA, NYSE: SPY, Nasdaq: QQQQ, NYSE: DOG, NYSE: SDS, NYSE: QLD, NYSE: NYX, NYSE: ICE, Nasdaq: NDAQ)

Friday the 13th Market News Summary

By Staff Writer:

Four reports flood your Friday the 13th market news summary. We received the Consumer Price Index (CPI) and Retail Sales data in the premarket. By 10:00 AM, the Business Inventories and Reuters/U. Michigan Consumer Sentiment releases had reached the wire.

Retail Sales

Retail Sales gained 0.4% in July, against economists' expectations for an increase of 0.5%. The disappointing result came against June's revised 0.3% decrease. When excluding autos, retail sales should have risen by 0.2%, according to economists. The actual result was in line on the ex-auto figure. Detailed research is currently being prepared on this report, and will appear on the blog later today.

Consumer Price Index

With deflation concerns in the markets' cross-hairs, today's Consumer Price Index (CPI) got a good look. The Headline CPI figure marked a gain of 0.3%, against economists expectations for the same; interestingly enough, those expectations increased during the week from a previously forecast +0.2%. The Headline figure compared against June's drop of 0.1%. Excluding volatile food and energy prices, the Core CPI rose a lesser 0.1%, again meeting expectations. The Core CPI result came against a higher 0.2% increase in June.

Consumer Sentiment

The Consumer Sentiment Index from the University of Michigan/Reuters rose to 69.9 for its mid-August read. The higher result compared against July's final reading of 67.8; recall that confidence took a dive last month. Economists expected this latest check-up to mark only 69.0.

Business Inventories

After increasing by 0.1% in May, business inventories jumped 0.3% in June against expectations for an increase of 0.2%. This is not good, since business sales fell 0.6%. The Greek reminds that the divergent comparison here parallels what we saw in recent Wholesale Trade data.

DC Schedule

Scandalized NY Representative Charlie Rangel held his birthday bash/fundraiser at the Plaza last night, and you can see the video coverage of the event atop the blog today. Kansas City Fed Bank President and regular dissenter Thomas Hoenig is scheduled to address a group in Lincoln, Nebraska today at 11:30 AM ET.

Overseas Activity

German economic activity (+2.2%) pulled up EU GDP growth in the second quarter, with drags coming from Spain, Greece and Ireland. Euro-zone GDP increased 1.0%, which was about in line with expectations we've noted. First quarter growth only managed 0.2% in Q1.

Corporate News

Blackstone Group (NYSE: BX) will acquire Dynegy (NYSE: DYN) for $542.7 million plus debt. The low-priced Dynegy shares jumped 60% toward the acquisition price this morning. The deal includes the sale of four power plants to NRG Energy (NYSE: NRG). NRG shares are unchanged this morning, while BX is down 1.7%.

The corporate news schedule highlights EPS data from J.C. Penney (NYSE: JCP), Allied Motion Technologies (Nasdaq: AMOT), Cowen Group (Nasdaq: COWN) and Acorn Energy (Nasdaq: ACFN). The remainder of the EPS schedule includes news from ADA ES (Nasdaq: ADES), Aker ASA (Nasdaq: AKER), Aker Floating Production (Nasdaq: APFP), Andatee China Marine Fuel (Nasdaq: AMCF), Best Energy Services (Nasdaq: BEYS), Biofuel Energy (Nasdaq: BIOF), Brasil Foods (Nasdaq: BRFS), Bridgeline Digital (Nasdaq: BLIN), Cameco (NYSE: CCJ), Catalyst Pharmaceutical (Nasdaq: CPRX), Celesc Centrais Ela. Da Santa (OTC: CEDWY), Chemspec Int'l (NYSE: CPC), China Industrial Waste Management (Nasdaq: CIWT), China Natural Gas (Nasdaq: CANL), China Transinfo Technology (Nasdaq: CTFO), Cia de Transicao de Energia Electrica (OTC: CTPZY), Companhia Energetica de Minas Gerais (NYSE: CIG), Craft Brewers Alliance (Nasdaq: HOOK), Derma Sciences (Nasdaq: DSCI), Dillard's (NYSE: DDS), Empire Resorts (Nasdaq: NYNY), Equal Energy (NYSE: EQU), Fibria Celulose (NYSE: FBR), Hana Biosciences (Nasdaq: HNAB), Houston American Energy (AMEX: HUSA), JBS (OTC: JBSAY.PK), Kingsway Financial (NYSE: KFS), National Security (Nasdaq: NSEC), Nexxus Lighting (Nasdaq: NEXS), Petrobras (NYSE: PBR), Red Point Bio (Nasdaq: RPBC), Regenerx Biopharmaceuticals (NYSE: RGN), Sadia SA (SDA), Saga Communications (AMEX: SGA), Saraiva SA (OTC: SVLSY.PK), Shiner Int'l (Nasdaq: BEST), Soligenix (Nasdaq: SNGX), Superior Industries (NYSE: SUP), Turkiye is Bankasi (OTC: TYABY.PK) and Yongye Biotechnology International (Nasdaq: YONG).



Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.