CTA Trading Desk Morning Report
[7:00am ET] Good morning, Geoff here.
Economic data, including Housing Starts, released a few minutes ago is pulling up stock futures to new highs. Should this action continue, we will be approaching the end game in the next chart.
Stocks Techie Weekly:
I am not calling it the “end game” because the rally will be over. I am calling it the “end game” because the analysis is nearing an end, proving to be correct as it ran right up to the estimated price area – we will need to evaluate price action when it does.
Have a great trading day!
Here are the 7:00am ET snapshots of the latest equity market trading results for Europe, and futures prices plus 5-minute charts of the futures for S&P 500, 30-year US Treasury Bond, US Dollar index, Gold and Crude Oil.
| Symbol | Name | Last Trade | Change | Related Info |
|---|---|---|---|---|
| ^ATX | ATX | 2,446.98 |  0.17 (0.01%) | Components, Chart, More |
| ^BFX | BEL-20 | 2,518.00 |  25.00 (1.00%) | Components, Chart, More |
| ^FCHI | CAC 40 | 3,735.54 | 27.05 (0.73%) | Components, Chart, More |
| ^GDAXI | DAX | 7,676.78 | 14.35 (0.19%) | Components, Chart, More |
| AEX.AS | AEX General | 348.15 | 0.69 (0.20%) | Components, Chart, More |
| ^OSEAX | OSE All Share | 510.20 | 0.49 (0.10%) | Components, Chart, More |
| ^OMXSPI | Stockholm General | 353.49 | 0.96 (0.27%) | Components, Chart, More |
| ^SSMI | Swiss Market | 7,362.18 | 57.33 (0.78%) | Components, Chart, More |
| ^FTSE | FTSE 100 | 6,101.61 | 2.37 (0.04%) | Components, Chart, More |
| FPXAA.PR | PX Index | 1,042.46 | 3.15 (0.30%) | Chart, More |
| MICEXINDEXCF.ME | MICEX Index | 1,519.70 | 3.03 (0.20%) | Chart, More |
| GD.AT | Athex Composite Share Price Index | 948.81 | 3.97 (0.42%) | Chart, More |
http://finviz.com/futures.ashx
http://finviz.com/fut_chart.ashx?p=m5&t=ES
http://finviz.com/fut_chart.ashx?p=m5&t=ZB
http://finviz.com/fut_chart.ashx?p=m5&t=DX
http://finviz.com/fut_chart.ashx?p=m5&t=GC
http://finviz.com/fut_chart.ashx?p=m5&t=SI
http://finviz.com/fut_chart.ashx?p=m5&t=CL
The team will check in during the day, reporting in the Discourse when there is a new entry.
Enjoy your day.
Cara 100 Company research notes from Seeking Alpha
Activision (ATVI)
Jan16: 12:17 PM Game developers Activision (ATVI -1.3%) and Take-Two (TTWO -1.1%) slide a bit after Pres. Obama says violent video games will be studied as part of his administration’s response to the Newtown, CT shooting. Developers had already sold off in December on concerns about new political scrutiny.
Apple(AAPL)
Feb16: 6:23 PM More on Apple: 1) KGI Securities’ Ming-Chi Kuo, an accurate source of iPhone 5 and iPad Mini scoops last year, claims the 5th-gen regular iPad will be “significantly lighter and slimmer” than the 4th-gen model. But he doesn’t see it arriving until Q3, around the same time as a new iPad Mini and an iPhone 5S. An Apple TV refresh is forecast for Q1, and a MacBook Air refresh for Q2. 2) Apple has begun offering 2-year installment plans to Chinese iPhone/MacBook buyers. The 16GB iPhone 5 currently goes for $840 unsubsidized in China.
Boeing (BA)
Jan16:8:43 PM Boeing’s (BA) Chief Executive Jim McNerney issues a statement in response to to the FAA’s suspension of U.S. flights of the Dreamliner, saying BA is “committed to supporting the FAA and finding answers as quickly as possible.” McNerney insists the company is working “around the clock with its customers and the various regulatory and investigative authorities,” and reiterates the company’s confidence that the 787 is safe. “We stand behind its overall integrity.” McNerney says, and the company “deeply regrets the impact” on airlines and passengers. Jan16:6:11 PM The FAA orders all U.S. airlines to ground their 787 Dreamliners (BA), CNBC reports amid continuing safety developments. 3:21 PM Industry watchers say that Japan will be a test case for how Boeing’s (BA -3.8%) Dreamliner 787 customers respond to safety concerns surrounding the aircraft. With most of its 787s in service in Japan right now, it’s a high profile market for BA. Existing, as well as future, customers are looking to see how the issues are dealt with before deciding what action to take with their orders. As the problem seems to be more and more systemic, the heat is on for BA to take more steps straight away to assuage the safety concerns.
Bristol-Myers (BMY)
Jan16:9:47 AM Bristol-Myers Squibb (BMY -0.1%) is due to begin talks today to resolve hundreds of millions of dollars in claims in cases of people who died or became ill after participating in testing for the company’s hepatitis C treatment 094. Bristol stopped developing the drug in August and took a $1.8B charge after a patient died during the trial and others had to go to hospital.
Cisco Systems (CSCO)
Jan17: 8:31 AM Cisco (CSCO) is downgraded to Sell with $18 price target at JPMorgan. Positive investor sentiment on the stock “(has) gotten ahead of itself” given the sluggish enterprise spending environment. “Investors should be using Cisco as a source of funds from current levels.” Shares -1.5% premarket.
Intel (INTC)
Jan17: 8:05 AM Intel’s (INTC) Q4 earnings are due out later, with analysts expecting that EPS fell to $0.45 from $0.64 while revenue dropped to $13.52B from $13.89B. Intel is struggling to overcome a falling market for its PC chips and the European economic slump, although it is benefiting from a shift to new data-center technologies. The chipmaker is also about to lose departing CEO Paul Otellini, but analysts don’t expect an announcement about his successor today.
Vale (VALE)
Jan16: 12:22 PM The recent selloff in Vale (VALE -2.2%) may provide a buying opportunity, Goldman Sachs says, pointing to rallying iron ore prices and the firm’s expectations that global demand will keep prices high. Goldman also thinks investors have underestimated Vale