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Credit Suisse misses forecast sheds asset and employees

April 16, 2014

Credit Suisse Profit Misses Forecasts

Credit-Suisse

Summary:

  • According to NY Times Credit Suisse, Switzerland’s second largest bank profit falls -34% due to its diminished interest rates unit and a weak performance in emerging markets contributed to a 13% year-on-year decline in net revenue at the investment bank.
  • Which is causing the bank to wind down on their businesses and letting them go because they’re too expensive to maintain. Additionally this also means employees are being let down as the company seeks to slim down operation.
  • Credit Suisse  is also in the middle of a legal issue with the US Justice Department because to  track down the identities of American clients who used accounts at the bank to evade taxes.
  • Credit Suisse will now focus more on their private banking and wealth management businesses because it attracted 13.7 billion francs new assets during the quarter

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U.S. Stocks rise due to encouraging corporate earnings

April 15, 2014

U.S. Stocks Rise as Tech Shares Rebound Amid Earnings

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  • U.S. equities opened slightly higher today, but then declined later in the afternoon after headlines about the Ukraine situation getting more intense. By afternoon markets recovered due to upbeat corporate earnings from Johnson & Johnson (NYSE: JNJ) and Coca-Cola Co. (NYSE: KO).
  • Johnson & Johnson rose 2.1 percent to $99.20, an all-time high. Coca-Cola Co didn’t post particularly impressive numbers, but they were good enough to beat pretty low expectations. Which brought back confidence among investors on the current stature of the market.
  • The Consumer Price Index in the U.S. rose 0.2% in March, beating expectations for a 0.1% result. Which means for the day to day consumer, it means prices for things go up.
  • The National Association of Home Builders Housing Market Index for April came in at 47 vs. the average economist’s estimate of 49. Which measures single-family house sales and readings below 50 mean more builders view market conditions as poor than favorable.
  • All of the 10 main S&P 500 groups advanced today, with utility and energy stocks rising 1.3 percent to lead the gains.
  • The Dow Jones Industrial Average gained 0.55% to 16,262.56, while the S&P 500 was up 0.58% to 1,842.98. ThNasdaq lifted 0.29% to 4,034.16.
  • Gold dropped 27.20, or 2.1%, to settle at $1,300.30 an ounce. Oil declined $0.30 or 0.3 percent to close at $103.75 a barrel.

U.S. stocks rally as Fed ease concerns over stimulus

April 9, 2014

U.S. Stocks Rally on Fed Minutes Amid Jump in Tech Shares

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  • U.S. stocks rally as some members from the Federal Reserve wonder whether enough stimulus has been injected into the economy as they notice China’s economy is slowing down and the possibility of emerging markets.
  • Alcoa’s results boosted optimism at the start of earnings season.
  • Eight of 10 main industries in the S&P 500 advanced, with health-care companies climbing 2.1 percent.
  • The Dow Jones Industrial Average closed 1.11% higher to 16,437.18 while the S&P 500 was up 1.09% to 1,872.18. The Nasdaq gained 1.72% to 4,183.9.
  • WTI Crude Oil  rose as much as $1.21 to a session high of $103.77 a barrel. Gold had risen 0.2 percent to $1,311.10 an ounce.

Emerging markets advance on speculation China will support expansion

April 8, 2014

Emerging-Market Stocks Rise to Four-Month High on China

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  • The MSCI Emerging Markets Index added 0.7 percent to 1,011.49, increasing for a third day.
  • The iShares MSCI Emerging Markets Index ETF advanced 1.2 percent to $41.96.
  • Brazilian stocks halted gains due to investors noticing inflation rates are increasing with the current President.
  • The chinese government will support the expansion to address the concern over weak economic growth and help support commodity prices along with emerging markets.
  • Brazil’s Ibovespa dropped from the highest level since November as Petrobras sank 2.9 percent.
  • Russia’s Micex Index rose 0.2 percent, rebounding from a drop of as much as 1.1 percent earlier.
  • The rand climbed after foreign investors bought South African bonds.

U.S. stocks rebound from its two day decline

April 8, 2014

U.S. Stocks Rise as Technology Stocks Rally After Selloff

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  • U.S. stocks rally as the tech sector bounces back,  Yahoo! (YHOO_) and Google (GOOG_) both adding more than 2%. 
  • Seven out of 10 major industries in the S&P 500 climbed today. Utilities, consumer and energy shares led advances with gains of more than 0.9 percent. Technology stocks rallied 0.9 percent.
  • First Quarter for 2014 earnings season just started and Alcoa Inc. added 1.9 percent after the close of regular trading as it reported earnings that topped analyst forecasts. JPMorgan Chase & Co. and Wells Fargo & Co. are among S&P 500 companies reporting earnings this week.
  • The Dow Jones Industrial Average gained 0.06% to 16,256.27, while the S&P 500 added 0.38% to 1,851.96. The Nasdaq increased 0.81% to 4,112.99.
  • WTI Crude Oil climbed $2.12 to $102.56 a barrel. Gold futures advanced 0.8% to $1,309.10 an ounce.

U.S. stocks decline as investors retreat due to valuations

April 7, 2014

Stocks Retreating; High-Growth Tech Shares Extend Slide

Traders Said to be Positioning Ahead of First-Quarter Earnings Season

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  • U.S. Stocks fall Tuesday as investors worry about the valuation of high end companies that might be too expensive, over valued and thus causing a decline in the market. Investors are also worry about 1st Quarter Earnings as earnings season starts, because due to overvalued companies with weak performance rates it is causing investors to have a negative outlook for the first quarter.
  • Technology shares have been hit as traders dump the biggest winners of the bull market amid concern valuations have advanced too far.
  • “People are trying to get more defensive ahead of this earnings season,” said Keith Bliss, senior vice president at brokerage Cuttone & Co.
  • WTI Crude Oil for May delivery decreased 0.6 percent, to $100.57 a barrel.
  • Gold futures for June delivery lost 0.4 percent to settle at 1,298.30 on the Comex in New York as investors speculated the Fed won’t slow its bond buying.
  • The Dow Jones Industrial Average closed down 1.02% to 16,245.87, while the S&P 500 finished off 1.08% to 1,845.04. The Nasdaq shed 1.16% to 4,079.75.

Emerging markets decline amid concern on Ukraine crisis

April 3, 2014

Emerging-Market Stocks Halt Nine-Day Advance on Warning

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  • Emerging markets declined after NATO warned Russia to reduce its troops on Ukraine territory.
  • Russia’s Micex Index (INDEXCF) extended its slump this year to 9.2 percent as Sberbank sank, while the ruble weakened for a second day. Ukrainian Eurobonds fell for the first time in almost two weeks and the hryvnia slumped.
  • Turkish bonds ended the longest streak of gains in 11 months amid speculation the central bank will raise interest rates.
  • Brazilian shares retreated amid speculation recent gains might have been excessive given the outlook for slow economic growth
  • China’s stocks fell for the first time in three days as banks and property developers slumped, overshadowing government measures to support economic growth.
  • The iShares MSCI Emerging Markets Index ETF fell 0.4 percent to $41.41.

6:35PM (EST) Future Performance Update; Soybean Oil Futures leading

April 3, 2014

soybean futures fly on tight supply

  • Tighter U.S. supplies also helped lift old-crop soybean futures to a fresh contract high although new-crop prices were pressured by projections for a record large U.S. planting program this year
  • That supported old-crop futures but new-crop prices were weaker as the USDA predicted U.S. soybean plantings to hit a record 81.5 million acres, up 6 percent from last year and suggesting a harvest above 3.6 billion bushels.

 

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U.S. stocks decline due to widening Trade deficit and weak estimated Q1 growth

April 3, 2014

U.S. stocks pause after 4 days of gains

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  • U.S. stocks erased morning gains after initial jobless report claims rose by more than expected, Initial jobless claims for the week of March 29 increased by 16,000 to 326,000, vs. the average economist’s estimate of 317,000.
  • The U.S. trade deficit unexpectedly widened in February as exports hit a five-month low, suggesting first-quarter growth could be much weaker than initially anticipated. Since exports are low US imports is causing the Trade deficit to grow and stagnate which also affects the value of US dollar making it weak in the global economy.
  • The Institute for Supply Management said its non-manufacturing index rose to 53.1% last month from 51.6% in February. Which shows the service sector did indeed expand in March.
  • The S&P 500 closed off 0.11% to 1,888.75 while the Dow Jones Industrial Average finished unchanged at 16,572.42. The Nasdaq dropped 0.91% to 4,237.74.
  • Crude oil is up +0.06% to 100.35. Gold is also up +0.19% 1287.10. 
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