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Daily Market Analysis - 01 October 2009

[ No Comments ] Posted on 10.01.09 under Daily Market Analysis, Trading

U.S. MARKETS RECAP : Wednesday, September 30, 2009 AMC

Quote:

Briefing.com - Wednesday September 30 2009 @ 16:33 ET AMC Daily Sector Wrap : Stocks Falter for Soft September Ending An early selling effort dropped stocks from an initial gain to a loss of more than 1%, but stocks gradually made their way back to positive ground before falling under a second wave of selling pressure. Although they finished the session with a loss, stocks still logged impressive gains for the month. Better-than-expected earnings from several companies, including Nike (NKE 64.70, +4.61) and Jabil Circuit (JBL 13.41, +1.13) helped prop up the bias in the broader market this morning. The tone of trade improved further from news that second quarter GDP was revised upward to show an annualized decline of 0.7%, which is better than the 1.2% annualized decline that had been expected. The GDP headline overshadowed the latest ADP Employment Change Report, which indicated that 254,000 private jobs were lost during September. Since that is worse than the consensus forecast for 200,000 job losses, some wonder whether the government’s official nonfarm payrolls report on Friday will be worse than expected. Despite early signs of strength, stocks reversed direction in the first few minutes of trade. The slide was exacerbated by news that the Chicago PMI reading for September came in at 46.1, below the consensus forecast of 52.0 and down from the previous reading of 50.0. Within the first hour of trading the S&P 500 saw a modest gain turn into a loss of 1.3%. However, buyers waded back into the action and helped stocks turn their losses into a midday gain. The rally was challenged, though, as the S&P 500 failed to push through its opening highs. Tech had been a primary source of support for the midsession advance, but renewed selling pressure in the second half of the session left the sector to finish with a mere 0.2% gain. Semiconductor stocks were able to hold on to a near 0.9% gain, however. Materials stocks had also provided leadership as commodities prices soared. Though the sector faltered and finished with a 0.5% loss, the CRB Commodity Index jumped 2.9% in its best single-session percentage gain in nearly two months. The CRB’s impressive performance came as bullish gasoline inventory data helped underpin a 5.7% gain by crude oil prices, which settled at $70.49 per barrel. Meanwhile, gold prices shot up a strong 1.5% to settle at $1009.50 per ounce. The strong performance by commodities helped give the CRB Commodity Index a 0.6% gain for September and a 3.8% gain for the third quarter. Though stocks finished September on a rather dour note, the S&P 500 was still able to book a monthly gain of 2.7% and a quarterly gain of 14.9%, which is the second best quarterly performance for the S&P 500 this decade. The best quarter came in the second quarter of this year, when the stock market advanced 16.7%. With the end of the quarter at hand, investors and portfolio managers drove trading volume in the NYSE sharply higher as they juggled their portfolios. In turn, nearly 1.8 million shares traded hands on the NYSE. That’s the second highest single-session tally this month.

Market Internals for Wednesday September 30 2009

Leading Sectors: Tech (+0.19%), Consumer Staples (+0.17%)
Leading Industries: Footwear +7.67%, Electronic Manufacturing Services +5.77%, Agricultural Products +3.62%, Internet Retail +1.58%, Health Care Facilities +1.55%, Education Services +1.24%, Distributors +1.22%, Personal Products +1.08%, Semiconductor Equipment +0.97%, Health Care Distributors +0.79%

Lagging Sectors: Financials (-0.50%), Health Care (-0.46%), Consumer Discretionary (-0.43%), Industrials (-0.87%), Energy (-0.53%), Telecom (-0.31%), Materials (-0.50%), Utilities (-0.86%)
Lagging Industries: Homebuilding -3.54%, Photographic Products -3.43%, Automobile Manufacturers -3.23%, Broadcasting -2.90%, Paper Products -2.87%, Industrial REITs -2.68%, Managed Health Care -2.53%, Office Electronics -2.29%, Advertising -2.15%, Multi-Line Insurance -2.12%

NYSE:
Higher than avg volume @ 1774 vs. 1226 avg
Decliners outpacing Advancers : 1257/1757
New highs outpacing new lows : 206/1

NASDAQ:
Higher than avg volume @ 2658 vs. 2277 avg
Decliners outpacing Advancers : 996/1704
New highs outpacing new lows : 86/15

Other Market Moving Factors:
• Stocks rebuffed after failing to break above morning highs
• Latest batch of earnings prove better than expected
• ADP Employment Report for September disappoints, but headline number for revised second quarter GDP exceeds expectations
• Chicago PMI retreats and misses expectations
• End-of-month and end-of-quarter portfolio rebalancing expected

Quote:

Briefing.com - Wednesday September 30 2009 @ 18:18 ET AMC After-Hours Report : BAC Higher After CEO Announced He’s Stepping Down An early selling effort dropped stocks from an initial gain to a loss of more than 1%, but stocks gradually made their way back to positive ground before falling under a second wave of selling pressure. Although they finished the session with a loss, stocks still logged impressive gains for the month. After the close, Bank of America’s CEO Ken Lewis announced he is stepping down. In after hours trading and following that news, the stock is trading 1.7% higher. Eight of the ten sectors were in the red, led by industrials (-0.87%), utilities (-0.86%) and energy (-0.53%). Tech (+0.19%) and consumer staples (+0.17%) were the only two sectors in positive territory. Futures are lower after hours with S&P 500 futures 0.89 points below fair value of 1052.89 and Nasdaq 100 futures 3.26 points below fair value of 1717.51. Companies trading higher in after hours in reaction to earnings: LWSN +8.8%… Companies trading higher in after hours in reaction to news: BAC -1.1% (Bank of America confirms that Ken Lewis announces his retirement)… Companies trading lower in after hours in reaction to news: PAG -10.1 (Penske Auto terminates discussions with General Motors to acquire Saturn): UAUA -6.5% (announces plans to offer 19 million shares of common stock, and $175 mln in convertible senior notes due 2029). Tomorrow morning, there are four pieces of economic data scheduled to be released at 8:30 AM ET, including personal income figures (consensus is 0.1%), personal spending (consensus of 1.1%), initial claims (consensus is 535K) and continuing claims (consensus is 6170). CRA Intl (CRAI) and Constellation Brands (STZ) are scheduled to announce quarterly results ahead of tomorrow morning’s opening bell.

_______________________________________

U.S Markets - Thursday October 01 2009 - BMO

TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,712.28, -29.92 (-0.31%)

NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,122.42, -1.62 (-0.08%)

S&P 500 INDEX (SPX: CBOE) 1,057.08, -3.53 (-0.33%)

__________________________________________

Current Markets

Asian Markets Thursday October 01 2009 @ Oct 1 8:04am†:
HANG SENG 20,955.25 ( -57.92 -0.28% )
NIKKEI 225 9,978.64 ( -154.59 -1.53% )
KLSE 1,208.35 ( +6.27 +0.52% )
STI 2,657.44 ( -15.13 -0.57% )

Currencies Thursday October 01 2009 @ Oct 1 8:04am†:
U.S. Dollar vs Euro ( -0.0096 -0.66% ) 1.4541
U.S. Dollar vs Yen ( +0.29 +0.32% ) 0.0111
U.S. Dollar vs UK £ ( 0.00 -0.24% ) 1.60

Treasury Yields :

2 Year Note 0.95% -0.04 • 5 Year Note 2.31% -0.02
10 Year Note 3.30% +0.01 • 30 Year Note 4.05% +0.03

Gold (CMX ) December 09 ($US per Troy oz.) : 1009.30 ( +14.90)
Light Crude (NYM ) November 09 ($US per bbl.) : 70.61 ( +3.90)

Earnings Highlights for Thursday October 01 2009
STZ , CRAI , GIGM , ACN , CREL , DMAN , GPN , BLUD , RECN , SMSC , TSCM

Events for Thursday October 01 2009
08:30 Personal Income
08:30 Personal Spending
08:30 Initial Claims
08:30 Continuing Claims
10:00 Construction Spending
10:00 ISM Index
10:00 Pending Home Sales
14:00 Auto Sales
14:00 Truck Sales

___________________________________________
Summary
"IMF raises global economic forecast" : http://money.cnn.com/2009/10/01/news…ion=2009100104

"Stocks brace for new quarter" : http://money.cnn.com/2009/10/01/mark…ion=2009100107

Resistance levels @ 9,780 and 9,860
Support levels @ 9,650 and 9,600

Direction for Thursday October 01 2009; ∇ Down

Daily Market Analysis - 30 September 2009

[ No Comments ] Posted on 09.30.09 under Daily Market Analysis, Trading

[B][CENTER][SIZE="4"]U.S. MARKETS RECAP : Tuesday, September 29, 2009 AMC[/SIZE][/CENTER][/B]
[CENTER][IMG]http://dukealvinlim.com/watimage/2009September/MarketPerfSeptember29.jpg[/IMG][/CENTER]

[QUOTE][SIZE="2"]
Briefing.com - Tuesday September 29 2009 @ 16:45 ET AMC
[B][I]Daily Sector Wrap : Lackluster Session Concludes with Modest Losses[/B]
Tuesday’s trade concluded in lackluster fashion as an absence of leadership left stocks to drift during the afternoon, unable to reclaim their initial gains.

Stocks had started the session in higher ground as a better-than-expected S&P/Case-Shiller Home Price Report for July brought about some modest support. The report’s 20-City Composite showed a 13.3% year-over-year decline, which wasn’t as bad as the 14.2% decline that was expected.

However, the solid state of things quickly became unsettled by news that the September Consumer Confidence Index pulled back to 53.1 from 5.4.5 in August. The dip was unexpected; economists, on average, had been expecting a reading of 57.0.

The major indices were unable to fully recover from the flurry of selling that followed the disappointing consumer confidence reading.

News that the FDIC will require insured institutions to prepay estimated quarterly risk-based assessments into 2012 seemed to weight on bank stocks, though the announcement was generally expected. Diversified bank stocks fell 1.9%.

Consumer finance stocks were hit just as hard. They fell 1.9% amid news that the Fed has approved rules amending the transparency and disclosure of terms in credit card agreements.

Bright spots were limited, but shares of Walgreen (WAG 37.35, +3.16) logged their best single-session percentage advance in six months after the company posted better-than-expected quarterly earnings. The drug retailer helped consumer staples stocks stay in the green for the entire session.
[/I][/SIZE][/QUOTE]

[B]Market Internals for Tuesday September 29 2009[/B]

[B][COLOR="DarkGreen"]Leading Sectors: [/COLOR][/B]Consumer Staples (+0.44%), Consumer Discretionary (+0.48%), Materials (+0.05%), Utilities (+0.17%)
[B][COLOR="DarkGreen"]Leading Industries: [/COLOR][/B]Publishing +7.60%, Consumer Electronics +7.39%, Drug Retail +5.76%, Tires & Rubber +3.39%, Office Electronics +3.12%, Gold +2.48%, Paper Products +2.40%, Apparel, Accessories & Luxury Goods +2.27%, Education Services +2.18%, Oil & Gas Drilling +2.13%

[B][COLOR="Red"]Lagging Sectors: [/COLOR][/B]Financials (-0.53%), Tech (-0.69%), Health Care (-0.10%), Industrials (-0.18%), Energy (-0.57%), Telecom (-0.51%)
[B][COLOR="Red"]Lagging Industries: [/COLOR][/B]Diversified REITs -3.76%, Office REITs -2.41%, Multi-Line Insurance -2.06%, Diversified Banks -1.89%, Consumer Finance -1.88%, Residential REITs -1.75%, Semiconductor Equipment -1.49%, Railroads -1.45%, Semiconductors -1.43%, Oil & Gas Refining & Marketing -1.40%

[B]NYSE:[/B]
[COLOR="red"][B]Lower[/B][/COLOR] than avg volume @ 1182 vs. 1219 avg
[B][COLOR="red"]Decliners [/COLOR][/B]outpacing Advancers : 1435/1555
New [B][COLOR="green"]highs [/COLOR][/B]outpacing new lows : 206/3

[B]NASDAQ:[/B]
[COLOR="green"][B]Higher[/B][/COLOR] than avg volume @ 3062 vs. 2269 avg
[B][COLOR="red"]Decliners [/COLOR][/B]outpacing Advancers : 1111/1568
New [B][COLOR="green"]highs [/COLOR][/B]outpacing new lows : 103/7

[B]Other Market Moving Factors:[/B]
• Latest batch of earnings prove better than expected
• ADP Employment Report for September disappoints, but headline number for revised second quarter GDP exceeds expectations
• End-of-month and end-of-quarter portfolio rebalancing expected

[QUOTE][SIZE="2"]
Briefing.com - Tuesday September 29 2009 @ 19:03 ET AMC
[B][I]After-Hours Report : MU Modestly Lower, While NKE is Up 4.6% Following Earnings[/B]

Tuesday’s trade concluded in lackluster fashion as an absence of leadership left stocks to drift during the afternoon, unable to reclaim their initial gains. After the close, Micron Technology (MU) and Nike (NKE) reported earnings results. MU reported a $0.09 beat on revenue of $1.3 billion, which declined 10.1% year/year, but was slightly above consensus. The results are creating some volatility in after hours trading, but the stock is only down 0.8%. NKE was another notable name to report tonight. The company beat consensus by $0.07, but revenue fell just short of consensus. First quarter gross margins of 46.2% were well above consensus of 43.8%. Also, worldwide futures orders declined less than the prior quarter’s decline (down 6% year/year in the quarter, compared to down 12% year/year in last quarter’s results). After hours, NKE is trading 4.6% higher.

Six of the ten sectors were in the red, led by tech (-0.69%), energy (-0.57%) and financials (-0.53%). Consumer discretionary (+0.48%), consumer staples (+0.44%), utilities (+0.17%) and materials (+0.05%) are all in positive territory.

Futures are lower after hours with S&P 500 futures 1.99 points below fair value of 1716.24 and Nasdaq 100 futures 1.36 points below fair value of 1056.36.

Companies trading higher in after hours in reaction to earnings: JBL +7.4%; ZZ +6.4%; NKE +4.3%… Companies trading lower in after hours in reaction to earnings: DRI -6.1%; MU -0.1%.

Tomorrow morning, there are two pieces of economic data will be released ahead of the open of the equity markets. First, ADP Employment figures for September are scheduled to be released at 8:15 AM ET, which calls for a consensus of -200K. Second, final GDP figures for Q2 are scheduled to be released at 8:30 AM ET, which currently has a consensus of -1.2%.

Actuant (ATU) is scheduled to announce quarterly results ahead of tomorrow morning’s opening bell.
[/I][/SIZE][/QUOTE]

[CENTER]_______________________________________

[B][SIZE="4"]U.S Markets - Wednesday September 30 2009 - BMO [/SIZE][/B]
[/CENTER]

[B]TECHNICAL UPDATE[/B]
[B]DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,742.20, [COLOR="red"]-47.16 (-0.48%)[/COLOR][/B]
[URL=http://dukealvinlim.com/watimage/2009September/TADOWSeptember29.jpg][IMG]http://dukealvinlim.com/watimage/2009September/TADOWSeptember29s.jpg[/IMG][/URL]

[B]NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,124.04, [COLOR="red"]-6.7 (-0.31%)[/COLOR][/B]
[URL=http://dukealvinlim.com/watimage/2009September/TANASDAQSeptember29.jpg][IMG]http://dukealvinlim.com/watimage/2009September/TANASDAQSeptember29s.jpg[/IMG][/URL]

[B]S&P 500 INDEX (SPX: CBOE) 1,060.61, [COLOR="red"]-2.37 (-0.22%)[/COLOR][/B]
[URL=http://dukealvinlim.com/watimage/2009September/TAS&PSeptember29.jpg][IMG]http://dukealvinlim.com/watimage/2009September/TAS&PSeptember29s.jpg[/IMG][/URL]

__________________________________________

[B]Current Markets[/B]

[B]Asian Markets Wednesday September 30 2009 @ Sep 30 8:38am†: [/B]
[B]HANG SENG[/B] 20,955.25 ( [COLOR="red"]-57.92 -0.28% [/COLOR] )
[B]NIKKEI 225[/B] 10,133.23 ( [COLOR="green"]+33.03 +0.33% [/COLOR] )
[B]KLSE [/B] 1,202.08 ( [COLOR="red"]-6.13 -0.51% [/COLOR] )
[B]STI [/B] 2,672.57 ( [COLOR="green"]+9.26 +0.35% [/COLOR] )

[B]Currencies Wednesday September 30 2009 @ Sep 30 8:38am†: [/B]
[B]U.S. Dollar vs Euro[/B] ( [COLOR="green"]+0.0032 +0.22% [/COLOR] ) 1.4614
[B]U.S. Dollar vs Yen[/B] ( [COLOR="red"]-0.37 -0.41% [/COLOR] ) 0.0111
[B]U.S. Dollar vs UK £[/B] ( [COLOR="green"]+0.01 +0.54% [/COLOR] ) 1.60

[B]Treasury Yields : [/B]
[IMG]http://dukealvinlim.com/watimage/2009September/yieldcurveSeptember29.gif[/IMG]
2 Year Note [B]1.02%[/B] [COLOR="green"]+0.05[/COLOR] • 5 Year Note [B]2.36%[/B] [COLOR="green"]+0.03[/COLOR]
10 Year Note [B]3.31%[/B] [COLOR="green"]+0.03[/COLOR] • 30 Year Note [B]4.04%[/B] [COLOR="green"]+0.01[/COLOR]

[B]Gold (CMX )[/B] December 09 ($US per Troy oz.) : 1004.20 ( [COLOR="green"]+9.80[/COLOR])
[B]Light Crude (NYM )[/B] November 09 ($US per bbl.) : 66.71 ( [COLOR="red"]-0.13[/COLOR])

[B]Earnings Highlights for Wednesday September 30 2009[/B]
ATU , DMND , LWSN , OHB , XRTX

[B]Events for Wednesday September 30 2009[/B]
08:15 ADP Employment
08:30 GDP - Final
09:45 Chicago PMI
10:30 Crude Inventories

___________________________________________
[B]Summary[/B]
"Private sector still losing lots of jobs" : http://money.cnn.com/2009/09/30/news/economy/ADP_employment/index.htm?postversion=2009093008

"Stocks set for early pop" : http://money.cnn.com/2009/09/30/markets/premarkets/index.htm?postversion=2009093008

Got to be an up day as long as Chicago PMI and CIT doesn’t ruin it.

Resistance levels @ 9,780 and 9,830
Support levels @ 9,700 and 9,630

Direction for Wednesday September 30 2009; [COLOR="green"][B]∆ Up[/B][/COLOR]

Daily Market Analysis - 29 September 2009

[ No Comments ] Posted on 09.29.09 under Daily Market Analysis, Trading

Market Internals for Monday September 28 2009

Leading Sectors: Financials (+3.43%), Tech (+1.73%), Health Care (+1.44%), Consumer Staples (+0.45%), Consumer Discretionary (+2.00%), Industrials (+1.62%), Energy (+1.70%), Telecom (+1.48%), Materials (+2.04%), Utilities (+0.89%)
Leading Industries: Health Care Facilities +7.17%, Diversified REITs +6.04%, Multiline Insurance +5.95%, Broadcasting +5.68%, Life & Health Insurance +5.44%, Retail REITs +5.38%, Industrial REITs +5.34%, Real Estate Services +5.34%, Consumer Electronics +5.04%, Commercial Printing +4.69%

Lagging Sectors: None
Lagging Industries: Office Electronics -14.88%

NYSE:
Lower than avg volume @ 952 vs. 1219 avg
Advancers outpacing Decliners : 2403/618
New highs outpacing new lows : 216/5

NASDAQ:
Lower than avg volume @ 1871 vs. 2249 avg
Advancers outpacing Decliners : 1987/662
New highs outpacing new lows : 99/7

Other Market Moving Factors:
• Overseas trading is mixed
• Economic calendar is generally light

TECHNICAL UPDATE
DOW JONES INDUSTRIAL AVERAGE (DJIND: CBOT) 9,789.36, +124.17 (+1.28%)

NASDAQ COMPOSITE INDEX (COMB) (COMP.IDX: NASDAQ) 2,130.74, +39.82 (+1.90%)

S&P 500 INDEX (SPX: CBOE) 1,062.98, +18.6 (+1.78%)

__________________________________________

Current Markets

Asian Markets Tuesday September 29 2009 @ Sep 29 7:23am:
HANG SENG 21,013.17 ( +424.76 +2.06% )
NIKKEI 225 10,100.20 ( +90.68 +0.91% )
KLSE 1,208.21 ( +2.26 +0.19% )
STI 2,663.31 ( +34.06 +1.30% )

Currencies Tuesday September 29 2009 @ Sep 29 7:23am:
U.S. Dollar vs Euro ( -0.0049 -0.34% ) 1.4564
U.S. Dollar vs Yen ( +0.13 +0.15% ) 0.0111
U.S. Dollar vs UK £ ( +0.01 +0.59% ) 1.60

Treasury Yields :

2 Year Note 0.97% -0.01 • 5 Year Note 2.33% -0.03
10 Year Note 3.28% -0.04 • 30 Year Note 4.03% -0.06

Gold (CMX ) December 09 ($US per Troy oz.) : 994.10 ( +2.50)
Light Crude (NYM ) November 09 ($US per bbl.) : 66.84 ( +0.82)

Earnings Highlights for Tuesday September 29 2009
GIGM , WAG , THO , MDRX , DRI , JBL , LNDC , MU , NKE , ZZ , WOR

Events for Tuesday September 29 2009
09:00 Case-Shiller Housing Price Index
10:00 Consumer Confidence

___________________________________________
Summary
"Wall Street bonuses poised to rebound" : http://money.cnn.com/2009/09/28/news…ion=2009092816

"The end of the manic depressive market" : http://money.cnn.com/2009/09/28/mark…ion=2009092907

"Stocks seen opening lower" : http://money.cnn.com/2009/09/29/mark…ion=2009092907

Resistance levels @ 9,820 and 9,920
Support levels @ 9,750 and 9,700

Direction for Tuesday September 29 2009; ∆ Up

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