THURSDAY’S MARKET – ECB Economic Forecasts Are Most Important Today
Thursday’s Market
Security
|
3-4-15
|
YTD
|
TTM
|
SPDR S&P 500 (NYSE: SPY)
|
-0.4%
|
2.3%
|
14.2%
|
SPDR Dow Jones (NYSE: DIA)
|
-0.6%
|
2.0%
|
13.1%
|
PowerShares QQQ (Nasdaq: QQQ)
|
-0.4%
|
5.4%
|
20.4%
|
SPDR Gold Shares (NYSE: GLD)
|
-0.3%
|
0.9%
|
-10.7%
|
iPath S&P Crude Oil (NYSE: OIL)
|
+3.1%
|
-5.6%
|
-51.6%
|
PIMCO Total Return (Nasdaq: BOND)
|
+0.1%
|
1.5%
|
6.9%
|
PowerShares DB US $ Bullish (NYSE: UUP)
|
+0.5%
|
4.8%
|
18.2%
|
Economic Reports
Thursday’s European Central Bank (ECB) meeting weighs heavy on markets, and certainly markets hinged to the dollar. The ECB kept interest rates unchanged, but investors are keyed on what the ECB has to say about its quantitative easing plans. More details are expected about the 1.1 billion euro bond buying plan, which is expected to run at 60 billion euros of assets per month.
The ECB will also issue its latest economic growth and inflation forecasts, and this data could be what matters most today. Lately, we’ve noted an uptick in the European broader economy and investors have looked toward that for reason to buy Europe sooner rather than later. If we see improvement in the EU economy, the dollar may have already marked its top, and a shift could begin for euro strengthening. This would mark an unraveling of the most popular trade today, and it would affect all commodity markets and the shares of many U.S. internationals beaten back by the strong dollar. Keep your eye on EU growth and its inflation forecasts. Note also that China revised lower its GDP expectations for 2015 to a still relatively strong 7% rate.
Economic data continues to weigh heavily Thursday, with several more preludes to Friday’s monthly jobs report offering some reason for speculation today. Challenger’s Job-Cuts Report, which offers information about announced corporate layoffs month-to-month, showed a modest decrease for February to 50,579, down from 53,041 in January. The measure is running somewhat hot now, and the reason is clear. Challenger reports that 38% of the year’s layoffs have come due to lower oil prices. Obviously, you can expect more of the same in the foreseeable future.
Monthly Productivity & Costs were reported, with the prior month’s data revised sharply higher, offering a positive economic note today. The revision to the prior month’s result makes the current month, which was reported about in line, look good now. Jobless claims edged higher.
THURSDAY’S ECONOMIC REPORT
SCHEDULE
|
|||
Economic Data Point
|
Prior
|
Expected
|
Actual
|
THURSDAY
|
|||
53,041
|
50,579
|
||
313K
|
320K
|
||
-3.4%
|
+0.2%
|
||
+3.9%*
|
-2.3%
|
-2.2%
|
|
-Unit Labor Costs
|
-1.0%*
|
+3.1%
|
+3.1%
|
42.7
|
|||
-219 bcf
|
|||
44.1
|
43.9
|
||
Earnings Reports
The day’s earnings schedule features Costco (Nasdaq: COST), one of America’s most important retailers. The day also brings the monthly chain store sales for February for many of America’s retailers. However, you will not find the monthly sales of its most important sellers, Wal-Mart (NYSE: WMT) and Amazon.com (Nasdaq: AMZN) in that data. So be careful of reading too much into the news of the marginal players.
HIGHLIGHTED EPS REPORTS
|
|
Company
|
Ticker
|
THURSDAY
|
|
51job
|
Nasdaq: JOBS
|
Abraxas Petroleum
|
Nasdaq: AXAS
|
Achillion Pharmaceuticals
|
Nasdaq: ACHN
|
Addus Homecare
|
Nasdaq: ADUS
|
Alon USA energy
|
NYSE: ALJ
|
Ares Management
|
Nasdaq: ARES
|
Bio-Reference Laboratories
|
Nasdaq: BRLI
|
Blackrock Kelso Capital
|
Nasdaq: BKCC
|
Canadian Solar
|
Nasdaq: CSIQ
|
Central European Media
|
Nasdaq: CETV
|
Checkpoint Systems
|
NYSE: CKP
|
Chembio Diagnostics
|
Nasdaq: CEMI
|
Chesapeake Utilities
|
NYSE: CPK
|
China New Borun
|
Nasdaq: BORN
|
Ciena
|
Nasdaq: CIEN
|
City Office REIT
|
NYSE: CIO
|
Cooper Cos.
|
NYSE: COO
|
Costco Wholesale
|
Nasdaq: COST
|
CTC Media
|
Nasdaq: CTCM
|
Demand Media
|
NYSE: DMD
|
Diamond Foods
|
Nasdaq: DMND
|
Dot Hill Systems
|
Nasdaq: HILL
|
E Commerce China Dangdang
|
Nasdaq: DANG
|
Emergent BioSolutions
|
NYSE: EBS
|
Energy Recovery
|
Nasdaq: ERII
|
Esterline Technologies
|
NYSE: ESL
|
Exceed Co.
|
NYSE: EDS
|
Fidus Investment
|
Nasdaq: FDUS
|
Finisar
|
Nasdaq: FNSR
|
Forestar Group
|
NYSE: FOR
|
Fresh Market
|
NYSE: TFM
|
Galena Biopharma
|
Nasdaq: GALE
|
Global Eagle Entertainment
|
NYSE: ENT
|
Gray Television
|
NYSE: GTN
|
HCI Group
|
NYSE: HCI
|
ID Systems
|
Nasdaq: IDSY
|
Independence Contract Drilling
|
NYSE: ICD
|
IRIDEX
|
Nasdaq: IRIX
|
Jiayuan.com Int’l
|
Nasdaq: DATE
|
Jones Soda
|
Nasdaq: JSDA
|
Joy Global
|
NYSE: JOY
|
Kroger
|
NYSE: KR
|
Ladder Capital
|
Nasdaq: LADR
|
Liberty Tax
|
NYSE: TAX
|
Marcus & Millichap
|
NYSE: MMI
|
Martha Stewart
|
NYSE: MSO
|
Methode Electronics
|
NYSE: MEI
|
National Western Life
|
Nasdaq: NWLI
|
Navidea Biopharmaceuticals
|
Nasdaq: NAVB
|
Orion Engineered Carbons
|
NYSE: OEC
|
Osiris Therapeutics
|
Nasdaq: OSIR
|
Paramount Group
|
Nasdaq: PGRE
|
Peregrine Pharmaceuticals
|
Nasdaq: PPHM
|
Perficient
|
Nasdaq: PRFT
|
Prothena
|
Nasdaq: PRTA
|
Quiksilver
|
NYSE: ZQK
|
Resolute Energy
|
NYSE: REN
|
Rhino Resource
|
NYSE: RNO
|
Safeguard Scientifics
|
NYSE: SFE
|
Sanchez Production Partners
|
NYSE: SPP
|
Shanda Games
|
Nasdaq: GAME
|
Skullcandy
|
Nasdaq: SKUL
|
Superior Industries
|
NYSE: SUP
|
Tetraphase Pharmaceuticals
|
Nasdaq: TTPH
|
The Chefs’ Warehouse
|
Nasdaq: CHEF
|
Thor Industries
|
NYSE: THO
|
Trecora Resources
|
Nasdaq: TREC
|
U.S. Physical Therapy
|
Nasdaq: USPH
|
US Concrete
|
Nasdaq: USCR
|
Violin Memory
|
Nasdaq: VMEM
|
Winthrop Realty Trust
|
NYSE: FUR
|
Wuxi Pharmatech Cayman
|
NYSE: WX
|
Youku Tudou
|
Nasdaq: YOKU
|
YY
|
NYSE: YY
|
DISCLOSURE: Kaminis is long SPY. 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.
Labels: ECB, Europe, Europe-2015, Market-Outlook, Market-Outlook-2015-Q1
posted by The Greek | 8:59 AM
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