Thursday, December 2, 2010

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Indications: U.S. stock futures fade as jobless claims rise

Stock Assault 2.0 - Artificial Intelligence Stock Market Software

By Polya Lesova and Kate Gibson, MarketWatch

NEW YORK (MarketWatch) â€" U.S. stock futures lost early gains Thursday after U.S. weekly jobless claims climbed more than Wall Street expected, denting enthusiasm a day before the monthly jobs report.

Investors also watched events overseas, with the European Central Bank opting to keep interest rates on hold, as expected. Read more about the ECB.

The government said initial claims for unemployment benefits rose by 26,000 to 436,000 last week. Read about jobless claims.

Shedding earlier gains of more than 40 points, futures on the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\z10 (DJZ10 11,350, +117.00, +1.04%)  fell 8 points to 11,225. S&P 500 index futures /quotes/comstock/21m!f:sp\z10 (SPZ10 1,218, +13.50, +1.12%)  declined 1.1 points to 1,203.4.

Nasdaq 100 futures /quotes/comstock/21m!f:nd\z10 (NDZ10 2,180, +21.50, +1.00%)  maintained a fractional advance at 2,158.75.

Is the rally in stocks overdone?

Wednesday’s big rally in stocks could be overdone, as the Dow erases all of its November losses.

The blue-chip Dow index /quotes/comstock/10w!i:dji/delayed (DJIA 11,352, +95.92, +0.85%)  rallied 2.3% Wednesday, posting its biggest percentage gain since Sept. 1, as robust economic data from China, Europe and the U.S. buoyed sentiment on Wall Street.

“It was a tremendous day for market speculation yesterday,” Deutsche Bank said in a note. “The net result was a short-covering frenzy for the [European Union] peripherals and a grab-a-thon for other risk assets.”

Thursday’s U.S. economic calendar also includes a report on pending-home sales for October, due at 10 a.m. Eastern.

On the corporate front, many U.S. retailers are reporting November same-store sales. Costco Wholesale Corp. /quotes/comstock/15*!cost/quotes/nls/cost (COST 68.75, +0.44, +0.64%)  posted a 9% increase in comparable sales for the four-week period ended Nov. 28. Read about November sales reports.

Food retailer Kroger Co. /quotes/comstock/13*!kr/quotes/nls/kr (KR 21.65, -2.21, -9.26%)  said it swung to a third-quarter profit from a year-earlier loss.

In deal news, PepsiCo Inc. /quotes/comstock/13*!pep/quotes/nls/pep (PEP 64.97, -0.66, -1.00%)  said it will acquire 66% of Russia’s Wimm-Bill-Dann Foods /quotes/comstock/13*!wbd/quotes/nls/wbd (WBD 31.19, +6.69, +27.31%)  for $3.8 billion. PepsiCo added it will offer to buy the remaining shares of Wimm-Bill-Dann after completion of the first acquisition “at such time and on terms as are mandated by Russian law.”

The deal will raise PepsiCo’s annual global revenue from nutritious and functional foods to nearly $13 billion from about $10 billion currently. Read more on PepsiCo’s deal.

Shares of Aeropostale Inc. /quotes/comstock/13*!aro/quotes/nls/aro (ARO 23.45, -3.35, -12.50%)  dropped in premarket trading. The retailer’s third-quarter results missed market expectations.

Focus on Trichet’s news conference

On the other side of the Atlantic, the European Central Bank decided to keep its key rate on hold at 1%, as expected. Read about the ECB’s rate decision.

European stocks and the euro extended recent gains, as the Spanish government successfully completed a bond auction Thursday, though the yield rose sharply.

The euro gained 0.5% to $1.3178, and the Stoxx Europe 600 index /quotes/comstock/22c!sxxp (ST:STOXX600 271.46, +4.35, +1.63%)  advanced 0.6%. Spanish stocks once again outperformed, rising 1.8%.

In Asia, equities posted strong gains, with Japan's Nikkei Stock Average rising 1.8%. See Asia Markets.

In the commodity markets, oil futures were little changed at $86.77 a barrel in electronic trading on Globex.

Gold futures gained $3.50 to $1,390.80 an ounce.

Polya Lesova is chief of MarketWatch’s London bureau. Kate Gibson is a reporter for MarketWatch, based in New York.

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Indications: U.S. stock futures gain ahead of economic data

Stock Assault 2.0 - Artificial Intelligence Stock Market Software

By Polya Lesova, MarketWatch

LONDON (MarketWatch) â€" U.S. stock futures rose Thursday, extending gains from the previous session, as investors awaited housing and labor-market data, while the European Central Bank opted to keep interest rates on hold, as expected.

Futures on the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\z10 (DJZ10 11,251, +18.00, +0.16%)  gained 45 points to 11,278, and S&P 500 index futures /quotes/comstock/21m!f:sp\z10 (SPZ10 1,207, +2.30, +0.19%)  rose 5.50 points to 1,210.

Nasdaq 100 futures /quotes/comstock/21m!f:nd\z10 (NDZ10 2,165, +6.25, +0.29%)  advanced 13.25 points to 2,171.70.

Is the rally in stocks overdone?

Wednesday’s big rally in stocks could be overdone, as the Dow erases all of its November losses.

The blue-chip Dow index /quotes/comstock/10w!i:dji/delayed (DJIA 11,256, +249.76, +2.27%)  rallied 2.3% Wednesday, posting its biggest percentage gain since Sept. 1, as robust economic data from China, Europe and the U.S. buoyed sentiment on Wall Street.

“It was a tremendous day for market speculation yesterday,” Deutsche Bank said in a note. “The net result was a short-covering frenzy for the [European Union] peripherals and a grab-a-thon for other risk assets.”

Thursday’s U.S. economic calendar includes data on weekly jobless claims, due at 8:30 a.m. Eastern time, and a report on pending-home sales for October at 10 a.m. Eastern.

On the corporate front, many U.S. retailers are reporting November same-store sales. Costco Wholesale Corp. /quotes/comstock/15*!cost/quotes/nls/cost (COST 68.31, +0.70, +1.04%)  posted a 9% increase in comparable sales for the four-week period ended Nov. 28.

Food retailer Kroger Co. /quotes/comstock/13*!kr/quotes/nls/kr (KR 23.86, +0.31, +1.32%)  is scheduled to report quarterly results.

In deal news, PepsiCo Inc. /quotes/comstock/13*!pep/quotes/nls/pep (PEP 65.63, +1.48, +2.31%)  said it will acquire 66% of Russia’s Wimm-Bill-Dann Foods /quotes/comstock/13*!wbd/quotes/nls/wbd (WBD 24.50, +0.89, +3.77%)  for $3.8 billion. PepsiCo added it will offer to buy the remaining shares of Wimm-Bill-Dann after completion of the first acquisition “at such time and on terms as are mandated by Russian law.”

The deal will raise PepsiCo’s annual global revenue from nutritious and functional foods to nearly $13 billion from about $10 billion today.

Shares of Wimm-Bill-Dann rallied 31% in thin premarket trading. Read more on PepsiCo’s deal.

On the downside, shares of Aeropostale Inc. /quotes/comstock/13*!aro/quotes/nls/aro (ARO 26.80, -0.23, -0.85%)  dropped 10% in premarket trading. The retailer’s third-quarter results missed market expectations.

Focus on Trichet’s news conference

On the other side of the Atlantic, the European Central Bank decided to keep its key rate on hold at 1%, as expected. Read about the ECB’s rate decision.

The focus now turns to the press conference of ECB President Jean-Claude Trichet, which is due to begin shortly. Investors are waiting to see whether the ECB will expand its bond-buying program in an effort to stem turmoil in the European bond markets, sparked by high debt levels in numerous countries including Ireland, Spain and Portugal.

Meanwhile, European stocks and the euro extended recent gains, as the Spanish government successfully completed a bond auction Thursday, though the yield rose sharply.

The euro gained 0.5% to $1.3178, and the Stoxx Europe 600 index /quotes/comstock/22c!sxxp (ST:STOXX600 268.42, +1.31, +0.49%)  advanced 0.6%. Spanish stocks once again outperformed, rising 1.8%.

In Asia, equities posted strong gains, with Japan's Nikkei Stock Average rising 1.8%. See Asia Markets.

In the commodity markets, oil futures were little changed at $86.77 a barrel in electronic trading on Globex.

Gold futures gained $3.50 to $1,390.80 an ounce.

Polya Lesova is chief of MarketWatch’s London bureau.

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NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Thursday, Dec 2, 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
WBD $24.49 $32.05 30.9% 51,294
PSS $17.57 $20.66 17.6% 62,370
TSRID $6.10 $7.14 17.0% 1,100


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 $90,990,820 $121.52 0.4% | S 2,579,873 $4.02 6.8%
IWM $20,893,929 $74.65 0.4% | C 2,089,926 $4.34 1.1%
AAPL $17,059,668 $318.40 0.5% | SPY 749,275 $121.52 0.4%
S $10,302,542 $4.02 6.8% | BAC 547,241 $11.37 0.9%
C $9,020,741 $4.34 1.1% | IWM 279,959 $74.65 0.4%
SDS $7,157,013 $25.80 ( 0.8%) | SDS 277,404 $25.80 ( 0.8%)
GLD $6,868,220 $135.51 0.1% | STD 238,564 $10.72 3.4%
SLV $6,533,149 $27.80 ( 0.1%) | SLV 234,410 $27.80 ( 0.1%)
BAC $6,215,282 $11.37 0.9% | EWJ 217,256 $10.45 ( 0.3%)
NFLX $6,163,542 $196.91 ( 1.6%) | F 211,799 $16.65 1.1%


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.

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