MarketWatch.com - Pre-Market Indications

Thursday, July 15, 2010

Indications: U.S. stock futures pare gains after mixed data

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Barbara Kollmeyer and Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- U.S. stock futures retained slight gains Thursday after a trio of economic reports yielded mixed results on the heels of word of slowing growth in China and as J.P. Morgan Chase's earnings topped expectations.

Futures for the Dow Jones Industrial Average were up 4 points to 10,310, while those for the S&P 500 rose fractionally to 1,091.90. Futures for the Nasdaq 100 rose 1.25 points to 1,852.50.

The Labor Department reported that jobless claims fell by 29,000 to 429,000 last week from an upwardly revised 458,000 the prior week. Continuing claims climbed 247,000 to 4.68 million. Read about weekly claims at their lowest level in nearly two years.

"The outcome was better than expected, though there are seasonal distortions at this time. Also the continuing claims rise is troubling," noted analysts at Action Economics.

Separately, the Labor Department said that wholesale prices fell 0.5% last month in their biggest decline since February. See details of lower food prices pacing the drop.

The New York Federal Reserve Bank's Empire State survey revealed that manufacturing activity grew in the region in July, but at a far weaker pace than the month before.

Shares of J.P. Morgan /quotes/comstock/13*!jpm/quotes/nls/jpm (JPM 39.97, -0.38, -0.94%) rose in premarket trade after the bank said its second-quarter profit jumped 76% to $4.8 billion, or $1.09 a share, from $2.72 billion, or 28 cents a share, in the year-earlier period. Excluding items, the earnings beat analysts' estimates.

"A very strong earnings report from J.P. Morgan -- and it is going to be very interesting to see how the other major institutions within U.S. banking earnings reports are," said Christian Tegllund Blaabjerg, chief equity strategist at Saxo Bank. "If they are at the same level at J.P. Morgan, we could be in for solid rally within financials as these stocks have been suppressed a bit by the unknown factor of future regulation."

Markets also had deal news for Thursday, with private-equity firm Carlyle Group set to buy nutritional supplements company NBTY /quotes/comstock/13*!nty/quotes/nls/nty (NTY 53.95, +16.48, +43.98%) in a deal valued at $3.8 billion.

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U.S. stocks closed with slight gains Wednesday, with the Dow industrials just managing to extend their recent winning streak, as an upbeat forecast from Intel Corp. vied with more disconcerting views on the U.S. economy from retailers and the Federal Reserve.

The Dow Jones Industrial Average ended up 3.7 points, or 0.04%, to 10,366.72 for its seventh straight session of gains.

"A second weak retail sales report in a row adds weight to the evidence that the U.S. is slowing -- rate hikes are off the agenda for the foreseeable future," said Rob Carnell, chief international economist with ING in a note to investors.

Among other stocks in focus, shares of Novartis /quotes/comstock/13*!nvs/quotes/nls/nvs (NVS 51.37, +0.62, +1.22%) could be active after the Swiss pharmaceutical group reported second-quarter profit rose to $2.4 billion and the group lifted its sales outlook for the year.

After the U.S. market close, Google /quotes/comstock/15*!goog/quotes/nls/goog (GOOG 488.53, -2.81, -0.57%) will report its own results.

Shares of GlaxoSmithKline /quotes/comstock/13*!gsk/quotes/nls/gsk (GSK 37.04, +0.69, +1.90%) could also be on the move on news the group may keep its diabetes drug Avandia on the U.S. market following a Food and Drug Administration advisory panel recommendation, though the company announced $2.4 billion in legal charges.

Europe shares moved higher after results from J.P. Morgan, as well as getting a lift from news the Spanish government sold $3.8 billion in 15-year bonds amid solid demand.

Markets in Europe and Asia have seen some pressure from China's news that second-quarter gross domestic product grew 10.3% over the same period a year earlier, slowing from the 11.9% annual growth recorded in the first quarter. That was below the 10.5% expansion predicted by economists surveyed by FactSet Research.

"The overall picture suggests that economic activity is feeling the monetary-policy tightening intended to cool down the housing market earlier this year," said analysts at UniCredit, who said data still show more of a "controlled slowdown rather than a hard landing."

Asian stocks finished mostly lower, particularly in Shanghai after the GDP data and a tepid debut for the Agricultural Bank of China.

In the currency markets, the euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.2882, +0.0144, +1.1305%) gained 0.7% to $1.2856.

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Kate Gibson is a reporter for MarketWatch, based in New York.

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NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Thursday, Jul 15, 2010 :

STOCKS TRADING ON NYSE Arca AT A PRICE 15% OR MORE AWAY FROM
THE PREVIOUS TRADE DAY'S CONSOLIDATED CLOSE PRICE (AS OF 08:30:00 ET)

Stock Wednesday's Close Current Price Pct Change Current NYSE ARCA Vol
SKH $2.26 $3.69 63.4% 54,599
NTY $37.47 $54.13 44.5% 1,706,595
NYM $20.85 $25.25 21.1% 24,500


10 MOST ACTIVE STOCKS ON NYSE ARCA AS OF 08:30:00 ET

BASED ON DOLLARS TRADED: | BASED ON SHARES TRADED:
Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $172383322 $110.24 0.5% | C 6,641,213 $4.28 1.7%
NTY $92,432,982 $54.13 44.5% | NTY 1,706,595 $54.13 44.5%
JPM $35,902,210 $40.56 0.6% | SPY 1,566,382 $110.24 0.5%
C $28,333,626 $4.28 1.7% | JPM 883,777 $40.56 0.6%
AAPL $19,701,813 $251.65 ( 0.4%) | BAC 544,942 $15.79 0.7%
QQQQ $11,980,539 $45.80 0.5% | BP 279,541 $36.50 0.9%
BP $10,246,245 $36.50 0.9% | QQQQ 261,848 $45.80 0.5%
IWM $9,000,203 $64.38 0.6% | FAS 231,130 $23.43 1.6%
BAC $8,627,120 $15.79 0.7% | NOK 201,224 $8.79 2.3%
FAS $5,424,951 $23.43 1.6% | FAZ 185,305 $13.80 ( 1.6%)


Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:
http://www.tradearca.com/data/volume/daily_update.asp

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
Any opinions expressed in this material are NYSE Arca opinions only.
NYSE Arca undertakes no obligation to update any of the information contained in this material in light of new information or future events.
THIS MATERIAL IS PROVIDED BY NYSE ARCA "AS IS" AND WITHOUT WARRANTIES EXPRESS OR IMPLIED.
NYSE ARCA DISCLAIMS ALL WARRANTIES INCLUDING THE IMPLIED WARRANTIES OF MERCHANTIBILITY, TITLE, AND FITNESS FOR A PARTICULAR PURPOSE AS TO THIS MATERIAL.
IN NO EVENT SHALL NYSE ARCA BE LIABLE FOR DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (INCLUDING BUT NOT LIMITED TO, LOST PROFITS, TRADING LOSSES AND DAMAGES THAT MAY RESULT FROM THE USE
OF THIS MATERIAL, ANY DELAY OR INTERRUPTION OF SERVICE OR OMISSIONS OR INACCURACIES IN THE MATERIAL) WITH RESPECT TO THIS MATERIAL.

Copyright [2010] by NYSE Euronext. All rights reserved. Reproduction and redistribution prohibited without prior express consent.

Indications: Futures eye J.P. Morgan results, weak China data

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Barbara Kollmeyer, MarketWatch

MADRID (MarketWatch) -- U.S. stock futures drifted into negative territory on Thursday as investors geared up for key earnings from J.P. Morgan and a slew of U.S. economic data, and absorbed news on slowing Chinese growth.

Futures for the Dow Jones Industrial Average fell 7 points to 10,299, while those for the S&P 500 fell 0.5 points to 1,090.60. Futures for the Nasdaq 100 rose 0.1 points to 1,853.

U.S. stocks closed with slight gains Wednesday, with the Dow industrials just managing to extend their recent winning streak, as an upbeat forecast from Intel Corp. vied with more disconcerting views on the U.S. economy from retailers and the Federal Reserve. The Dow Jones Industrial Average ended up ended up 3.7 points, or 0.04%, to 10,366.72 for its seventh straight session of gains.

Global Dow

• MarketWatch Topics: Greece • Asia Markets | Europe Markets | Lat. Am. • Canadian Markets | Israel Stocks | London • U.S.: Market Snapshot | After Hours

Tools • Latin American/Canadian indexes • European indexes | Asian indexes

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The S&P 500 Index fell 0.17 point, or 0.02%, to 1,095.17, dragged lower by financial stocks. The Nasdaq Composite Index rose 7.81 points, or 0.4%, to 2,249.84, with the tech-heavy index bolstered by Intel's earnings and sales forecast.

"A second weak retail sales report in a row adds weight to the evidence that the U.S. is slowing -- rate hikes are off the agenda for the foreseeable future," said Rob Carnell, chief international economist with ING in a note to investors.

The market is facing a heavy data schedule for Thursday with weekly jobless claims, producer prices for June and the Empire State index for July, all at 8:30 a.m. Industrial production data for June will be released at 9:15 a.m. and Philly Fed data will be released at 10 a.m. All times are Eastern.

Vying equally for attention will be corporate earnings, with banking big hitter J.P. Morgan Chase & Co. /quotes/comstock/13*!jpm/quotes/nls/jpm (JPM 40.35, -0.13, -0.32%) due to report quarterly results before the opening bell.

"Markets are looking for earnings per share of 71 cents and revenue of $25.3 billion but (CEO) Jamie Dimon's outlook for the economy and credit losses will probably be one of the key drivers of the day," said Jim Reid, strategist for Deutsche Bank in a note to investors.

Shares of Novartis /quotes/comstock/13*!nvs/quotes/nls/nvs (NVS 50.75, +0.63, +1.26%) could be active after the Swiss pharmaceutical group reported second-quarter profit rose to $2.4 billion and the group lifted its sales outlook for the year. After the U.S. market close, Google /quotes/comstock/15*!goog/quotes/nls/goog (GOOG 491.34, +2.14, +0.44%) will report its own results.

Shares of GlaxoSmithKline /quotes/comstock/13*!gsk/quotes/nls/gsk (GSK 36.35, +0.63, +1.76%) could be in focus on Thursday. The group may keep its diabetes drug Avandia on the U.S. market following a Food and Drug Administration advisory panel recommendation, though the company announced $2.4 billion in legal charges.

China growth data was also weighing on investors' minds ahead of the U.S. open, a factor that contributed to losses for Europe and Asia. China reported that second-quarter gross domestic product grew 10.3% over the same period a year earlier, slowing from the 11.9% annual growth recorded in the first quarter. That was below the 10.5% expansion predicted by economists surveyed by FactSet Research.

"The overall picture suggests that economic activity is feeling the monetary policy tightening intended to cool down the housing market earlier this year," said analysts at UniCredit, who said data still shows more of a "controlled slowdown rather than a hard landing."

Asia shares managed to recoup related losses, with property plays in Shanghai turning higher. Shares of Agricultural Bank of China opened 2.2% higher in their trading debut but then pared those gains as sellers emerged within minutes. See China's AgBank rises and falls in Shanghai

In the currency markets, the euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.2815, +0.0077, +0.6045%) gained 0.4% to $1.2783.

Barbara Kollmeyer is an editor for MarketWatch in Madrid.

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