Among European bourses, the UK FTSE 100 is currently trading off 0.2%; Germany’s DAX and France’s CAC are down 0.3%. Among the periphery, Spain’s IBEX 35 is trading 0.4% lower, Italy’s FTSE MIB is down 0.5%; Greece’s AEX is 1.0% higher. Spain’s benchmark 10-years, a barometer of eurozone angst have added 2 basis points for a 6.37% yield with 2-years 2 bps higher at a 3.73% yield.
Among the European exchanges, sentiment has soured this morning, both as US markets yesterday turned cautious and as rumors surrounding any prevention of a Greek exit or a bailout of Spain grow increasingly worrisome. Greece wants more time, but less conditionality; Spain is not certain it needs to make a formal request for a full-scale rescue at all. Germany would like to avoid doling out money without control of fiscal behavior. The issues are straightforward, but political minefields are explosive for all parties involved, and most experts expect that while headline reports may continue to move markets, little can be expected until September, when the troika return to evaluate Greece’s finances, Germany’s Constitutional Court rules on the ESM, and the European Commission meets, despite Chancellor Merkel’s statement calling for swift action to ameliorate the crisis, and asserting all members on board do so too.
This morning’s forex trade shows the euro trading 0.4% lower against the US dollar at 1.2518, as uncertainty that the month’s early, bullish “Draghi effect” will materialize into concrete resolutions for the peripheral nations. Yesterday the euro had climbed to a seven-month highs as hopes quickened for concerted ECB action to cap peripherals’ sovereign yields.
Among companies whose shares fell the hardest in yesterday’s trade, Guess (NYSE:GES) shares tumbled 23% on disappointing current quarter guidance and inline Q2 results, as the firm blamed a downturn in European tourism for its weak outlook. European concerns have cast a pall over the recent corporate earnings season outlooks. Reuters reported three eurozone sources had averred Spain is currently negotiating with EU policymakers for a sovereign bond rescue that would put a lid on the nation’s funding costs. Other media asserted the European Commission denied any such claims.
The FHFA Housing Price Index showed houses not only selling in July, but prices higher. The index showed prices up 0.7% from June, besting estimates of 0.6%, and up 3.6% from a year ago.
Housing once again provided recovery signals. July’s new home sales rose 3.6% to a 372K pace from 359K (revised from 350K) in June and up from forecasts of 362K.
The weekly jobless claims showed an unexpected, 4K increase to 372K from 368K (revised from 366K) and up from 365K anticipated. Four-week average claims were also up, posting at 368K from a revised 364.25K. Continuing claims of 3.317 million topped forecasts of 3.298 million. The numbers were not so bad as to promise Fed easing, nor good enough to claim employment trends much improved.
US economic data came in mixed Thursday, casting Fed intentions further into the dark. The FOMC meeting minutes had shown members in a dovish light, save the uncertain upcoming input of recovery signals. St Louis Fed President Bullard reminded investors that recent data had come in relatively strong, and that the minutes were indeed “stale.”
All ten S&500 industry sectors went red yesterday, led by such economically-sensitive groups as basic materials (-1.6%), which was also impacted by evidence of weak China demand, and technology (-1.0%), whose shares have received double-whammies from lowered full year guidance from Dell (NASDAQELL) due to weak PC sales, as well as confirmation in Hewlett-Packard’s (NYSE:HPQ) results that fed into stock performances in the rest of the group. Oil and gas shares lost 1% after weekly inventory statistics showed a greater-than-forecast, 5.4 million barrel drawdown, and as profit-taking in crude prices had set in after two rising sessions had lifted prices to three-month highs. Also lower: utilities (-1%), industrials (-0.8%), financials (-0.8%), consumer goods (-0.8%), consumer services (-0.7%), telecommunications (-0.4%), and health care (-0.1%).
Only Kraft (NYSE:KFT) and Pfizer (NYSEFE) managed gains among the DJIA thirty, rising 0.7% and 0.2%, respectively. Hewlett-Packard (NYSE:HWP) led DJIA decliners, down 8.2% after last night’s Q3 revenues fell short of estimates and FY2012 guidance disappointed, as the company blamed weakness in PC sales. The interims weighed on other tech company shares, bringing Dell (NASDAQELL) shares 3.8% lower, a day after its weak guidance had cost the firm a 5.4% drop. DJIA component Intel (NASDAQ:INTC) lost 2.7% in tech-sympathy; Advanced Micro Devices (NYSE:AMD) was also lower, off 2.7%. Boeing (NYSE:BA) lost 3.4% on news it had lost an order for 35 of the firm’s 787-9s from Qantas that attended the airline’s report of its first annual loss in seventeen years.
The DJIA turned in its fourth straight decline Thursday, down 115 points, or 0.9% to a 13,057 close. The S&P500 dropped 0.8% and finished at 1402, holding above the key1400 level. The NASDAQ declined 0.7% and ended at 3053. Trading volume was more anemic that most days this past, dried-up August month, and decliners were ahead of advancing shares by a wide, seven-to-three margin.
发表于 2012-8-24 10:00
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500 industry sectors went red yesterday, led by such economically-sensitive groups as basic materials (-1.6%), which was also impacted by evidence of weak China demand, and technology (-1.0%), whose shares have received double-whammies from lowered full year guidance from Dell (NASDAQ
ELL) due to weak PC sales, as well as confirmation in Hewlett-Packard’s (NYSE:HPQ) results that fed into stock performances in the rest of the group. Oil and gas shares lost 1% after weekly inventory statistics showed a greater-than-forecast, 5.4 million barrel drawdown, and as profit-taking in crude prices had set in after two rising sessions had lifted prices to three-month highs. Also lower: utilities (-1%), industrials (-0.8%), financials (-0.8%), consumer goods (-0.8%), consumer services (-0.7%), telecommunications (-0.4%), and health care (-0.1%).
FE) managed gains among the DJIA thirty, rising 0.7% and 0.2%, respectively. Hewlett-Packard (NYSE:HWP) led DJIA decliners, down 8.2% after last night’s Q3 revenues fell short of estimates and FY2012 guidance disappointed, as the company blamed weakness in PC sales. The interims weighed on other tech company shares, bringing Dell (NASDAQ