Wall Street Greek

Editor's Picks | Energy | Market Outlook | Gold | Real Estate | Stocks | Politics
Wall Street, Greek

The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.


Seeking Alpha

Tuesday, March 03, 2015

TUESDAY’S MARKET – It's About Buick & Bibi

Iran war Israel
Stocks are backing off to start the day Tuesday, perhaps solely because of the run to 5000 for the Nasdaq yesterday. Investors will need some time to get use to the new class and grow comfortable with new money. But stocks should be getting a boost today from the motor vehicle sales, which were mostly positive today given the poor weather for February. I recommend investors keep buying dips in the market for now, as the absence of Greece fear, a Ukraine peace of sorts, and the Fed’s delayed schedule all offer better reason for kept capital to get to work now in risky stocks. The Israeli Prime Minister’s speech to the U.S. Congress today is a bit distracting as we near midday, and it could refocus investors on scary geopolitical scenarios, but I expect the market will get back to track soon enough. Follow our investors’ blog for our regular commentary.

Sector Security
3-3-15
YTD
TTM
Vanguard S&P 500 (NYSE: VOO)
-0.5%
+3.2%
+17.0%
iShares Dow Jones (NYSE: IYY)
-0.5%
+3.5%
+15.9%
Fidelity NASDAQ  ETF (Nasdaq: ONEQ)
-0.5%
+6.5%
+18.7%
ProShares Ultra Gold (NYSE: UGL)
+1.3%
+2.5%
-23.2%
ProShares Ultra Real Estate (NYSE: URE)
-0.7%
+3.8%
+43.4%
ProShares Ultra Oil (NYSE: UCO)
+1.3%
-17.4%
-77.5%
WisdomTree US$  Bullish (NYSE: USDU)
-0.4%
+2.8%
+14.1%
iShares 20+ Yr. Treasury (NYSE: TLT)
+0.2%
NA
+19.7%

Economic & EPS Reports


TODAY’S ECONOMIC REPORT SCHEDULE

Economic Data Point
Prior
Expected
Actual
MONDAY



+0.3%
+0.4%
+0.3%
-Spending
-0.3%
+0.0%
-0.2%
-Core PCE  Price Index
+0.0%
+0.1%
+0.1%
53.9
54.0
55.1
53.5
53.0
52.9
+0.4%
+0.3%
-1.1%
$81

$82
TUESDAY



16.7M
16.7M

-Domestic Sales Only
13.5M
13.4M

2.8%

2.7%
3

1




Yesterday’s economic data will carry over to today given the soft schedule. Yesterday we saw personal income was about in line, but personal spending was reported down 0.2%, versus a better expectation. Though, regarding consumers, Gallup’s consumer measure improved by a dollar. The Fed’s favorite inflation gauge, the Core PCE Price Index edged up 0.1%, which was inconsequential but should have helped the spending result higher.

Construction spending came in soft, but the weather finds the easy blame. The good news that seemed to carry the day and outweigh Friday’s Chicago PMI collapse and GDP revision came from manufacturing. Both the Markit and ISM data were reported strong enough to save us and cause some question about Friday’s bad news.

Today’s soft report schedule has already produced Redbook’s same-store sales check-up, which showed a 2.7% year-over-year gain for the period measured, versus last week’s 2.8% gain. Gallup’s economic confidence measure softened, but is not widely followed.

Motor vehicle sales are still rolling in, and this data will dictate the day for more than just Ford (NYSE: F), General Motors (NYSE: GM) and Tesla (Nasdaq: TSLA). It will show some level of consumer activity and bank lending, and in recent history has been uplifting of the market. Today’s data for February has been mostly positive considering February’s weather, save for Ford. Ford reported its US sales fell 2%; FCA (Chrysler) said its sales were up 5.6% versus last year’s result; Nissan’s (Nasdaq: NSANY) US sales were up 2.7%; GM’s sales were up 4%. I see this as a positive that will prove supportive to market rise this month, though not this morning. Automaker shares were all lower on the day.

Earnings Reports



Best Buy (NYSE: BBY) reported its results this morning and the shares are up 1.5%. The results were good, but the company said it would be seeing some margin squeeze ahead on higher SG&A spending. Best Buy’s CEO, commenting on Apple Watch (Nasdaq: AAPL), said it’s too early and much depends on quality and consumer perception, but he’ll be wearing one. This should be a positive factor for stocks today.

HIGHLIGHTED EPS REPORTS
Company
Ticker
TUESDAY

ABM Industries
NYSE: ABM
Accuride
NYSE: ACW
AeroVironment
Nasdaq: AVAV
Agenus
Nasdaq: AGEN
Amarin
Nasdaq: AMRN
Ambarella
Nasdaq: AMBA
Amicus Therapeutics
Nasdaq: FOLD
Ascena Retail
Nasdaq: ASNA
Autozone
NYSE: AZO
Avolon
Nasdaq: AVOL
Bazaarvoice
NYSE: BV
Best Buy
NYSE: BBY
Bob Evans Farms
Nasdaq: BOBE
Bona Film Group
Nasdaq: BONA
BreitBurn Energy Partners
Nasdaq: BBEP
Career Education
Nasdaq: CECO
CDI
NYSE: CDI
Codexis
Nasdaq: CDXS
Ctrip.com
Nasdaq: CTRP
Cumberland Pharmaceuticals
Nasdaq: CPIX
DARA BioSciences
Nasdaq: DARA
Dick’s Sporting Goods
NYSE: DKS
eFuture Information Tech
Nasdaq: EFUT
Engility
NYSE: EGL
Esperion Therapeutics
Nasdaq: ESPR
Geron
Nasdaq: GERN
Insys Therapeutics
Nasdaq: INSY
JD.Com
NYSE: JD
Kate Spade & Co.
Nasdaq: KATE
L.B. Foster
Nasdaq: FSTR
LRR Energy
NYSE: LRE
MCG Capital
Nasdaq: MCGC
Midstates Petroleum
NYSE: MPO
Navistar Int’l
NYSE: NAV
NeoPhotonics
Nasdaq: NPTN
PDI Inc.
Nasdaq: PDII
Phoenix New Media
Nasdaq: FENG
PRGX Global
Nasdaq: PRGX
Primoris Services
Nasdaq: PRIM
Quanex Building Products
NYSE: NX
Receptos
Nasdaq: RCPT
Revlon
NYSE: REV
Sanchez Energy
NYSE: SN
SINA
Nasdaq: SINA
Smith & Wesson
Nasdaq: SWHC
SpartanNash
Nasdaq: SPTN
Stage Stores
NYSE: SSI
Tarena Int’l
Nasdaq: TEDU
TiVo
Nasdaq: TIVO
TRI Pointe Homes
NYSE: TPH
TriNet Group
Nasdaq: TNET
Trinity Biotech
Nasdaq: TRIB
Trivascular Technologies
Nasdaq: TRIV
Veeva Systems
Nasdaq: VEEV
WhiteHorse Finance
NYSE: WHF
Xerium Technologies
NYSE: XRM
ZELTIQ Aesthetics
Nasdaq: ZLTQ

In conclusion, the world over is watching the Israeli Prime Minister’s speech to the U.S. Congress, but investors will have the entire afternoon to focus on reasons to buy stocks again.

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.

geopolitical

Labels: ,

free email financial newsletter Bookmark and Share

0 Comments:

Post a Comment

<< Home