本帖最后由 mooncake 于 2014-1-8 10:35 编辑
U.S. equities are pointing to a higher open as the market tries to bounce back from its worst start to a new year since 2005. The market has lost value in each of its first three trading sessions but the volume has...
been light as many market participants remain on the sidelines. Harsh weather conditions across the country and a lack of catalysts have kept investors at bay, with many waiting for earnings season which will begin in full force next week. The CBOE Volatility Index (VIX) actually fell 1.5% and traded in line with the sell-off in stocks. This is inverse to historical moves but light volume may be contributing to the disconnect between volatility and equity moves. Investors and traders may be positioning themselves to start the year which has the ‘Fear Gauge’ moves in flux. Bonds have lost small gains with other core sovereigns. The 10-year yield dipped further overnight to 2.94% before widening back out 2.96% ahead of supply with today's $30 B 3-year auction on tap. As expected, late yesterday the Senate confirmed Janet Yellen to replace Ben Bernanke as the next Fed chair. She is widely expected to maintain a dovish outlook on rates. Meanwhile, still-soft Euro-zone Dec inflation kept speculation alive the ECB might eventually extend accommodation next week. Asian equities remained mixed, but European bourses have perked up a bit and U.S. futures are moving higher. With the FOMC minutes of its December meeting and Dec payrolls just ahead this week, we may see an upside cap for stocks in the near-term. There is also more Fed-speak today which may forecast upcoming moves by the FOMC at its January meeting. Stock Stories: Netflix (NFLX) – streaming down – The online entertainment company gets downgraded this morning on slowing subscriber growth and increased competition. The stock has such a large extended valuation but price action to the upside had exhausted most shorts. The shares are down 4% ahead of the opening bell.
Major Economic Reports:
6:45 am CT – GS Store Sales - Down 5.4% for week
7:30 am CT – International Trade
7:30 am CT – Fed’s Rosengren Speaks
12:00 pm CT – 3-year Note Auction Results
1:10 pm CT – Fed’s Williams Speaks
Notable Earnings:
Before Market: IHS
After Market: APOL, MU
Wednesday – 1/8: BBBY, GPN, MON, STZ, RPM, RT, WDFC |
发表于 2014-1-7 10:36
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