Monday, February 2, 2015

Happy Groundhogs Day !!







Good morning Folks, 
Markets are actually showing a bit of green this morning.China reported some disappointing numbers over the weekend and we have a full load of economic data coming out this week which it likely to keep the volatility in play. Earnings will also keep things exciting as we move forward. As I said in this weeks video its a good time to be cautious. 

Video Link 

http://www.screencast.com/t/8B6q3lMCx

 Other Stocks on my Radar
IRIX pr thin one but nice daily, PSTI pr possible red to green, CAMT popping off pr Nice daily but the pr is kind of weak the sale is not firm until after a trial run "The purchase order will become firm upon successful completion of an evaluation process,", KMDA pr Clear long term down trend testing 4 very thin careful, HIHO Earnings winner gapper can pop and flop so be careful, RPTP fast money mention Friday not crazy about the daily,      
TVIX TZA UWTI USO NUGT JDST UUP SPY IWM NDAQ IBB IWM for sentiment 
CNBC in the news
IN THE NEWS TODAY
Investors are happy to be turning the calendar page this morning, with theDow and S&P 500 coming off their second consecutive January selloff , posting their biggest monthly losses since January 2014. (CNBC)
In his fiscal 2016 budget today, President Barack Obama is seeking new taxes on U.S. corporate profits overseas, and a new approach to taxing foreign earnings in the future. (Reuters)
Jason Furman, chairman of the president's Council of Economic Advisers, joins CNBC's "Squawk Box" at 8:30 a.m. ET to make the White House case for taxing companies further.
Greece's new left-wing government has begun a charm offensive across Europe in an effort to drum up support for a new debt deal. (CNBC)
U.S. oil prices could skyrocket from current depressed levels by this fall, andgasoline could double, a former top oil executive predicted. In early Mondaytrading, oil was higher after last week's surge. (CNBC)
Union leaders called strikes on Sunday at nine U.S. refineries-accounting for more than 10 percent of U.S. capacity-in a bid to pressure oil companiesto agree to a new national contract covering workers at 63 plants. (Reuters)
Federal safety regulators said Toyota (TM), Fiat Chrysler (FCAU), and Honda(HMC) plan to recall about 2.1 million older vehicles to fix cause air bags than could deploy when they're not supposed to. (Reuters)
The cost of GM's faulty ignition switches victims compensation fund, which stopped taking claims this weekend, is not expected to exceed the $400 million to $600 million the automaker set aside. (WSJ-subscription)
Moody's Investors Service (MCO) is under investigation by the Justice Department for its credit ratings on mortgage deals in advance of the 2008 financial crisis that ultimately went bust. (WSJ)
A winter storm that dumped record snow on Chicago and the Midwest was making for a messy Monday in New York City and Boston, on this Groundhog Day. (NBC News)
In a dramatic ending, New England joined five other teams with at least four Super Bowl wins while Patriots Tom Brady became the third quarterback with four championship rings. (Reuters)
Many of the Super Bowl ads tugged at the heart strings not just the funny bone, celebrating fatherhood, happiness over hatred, and public proclamations of love. (NY Times)
BY THE NUMBERS
The new week begins with plenty of economic data, beginning with personal income and consumer spending for December at 8:30 a.m. ET. Income is seen rising 0.2 percent, while spending is expected to register a 0.3 percent drop. In November, income had increased by 0.4 percent while spending was up 0.6 percent.
At 10 a.m. ET, the Institute for Supply Management's January manufacturing index is expected to come in at 54.3 for January, according to consensus forecasts, down from 55.1 in December. At the same time, the government'sDecember construction spending report should register a 0.8 percent jump, following a 0.3 percent drop in November.
Dow component Exxon Mobil (XOM) is among the companies set to issue quarterly earnings this morning. Anadarko Petroleum (APC), Cliffs Natural Resources (CLF), Hartford Financial (HIG), and Owens-Illinois (OI) are among the companies set to release their numbers after today's closing bell.
STOCKS TO WATCH
CRH (CRH) is buying assets from building supplies rivals Lafarge (LR) andHolcim (HCMLF) for $7.4 billion. Lafarge and Holcim sold those assets in order to win approval for a merger between the two announced last year.
Google (GOOG), Amazon (AMZN), and Microsoft (MFST) have quietly paid the German start-up behind Adblock Plus, the world's most popular software for blocking online advertising, to stop blocking ads on their sites, according to the Financial Times.
Sony's (SNE) PlayStation network has been experiencing outages, though Sony does not mention claims from the "Lizard Squad" hackers that the group caused the network shutdown.

A clinical trial in Liberia of a drug made by Chimerix (CMRX) to treat Ebola has been halted because of a sharp decline in the number of people infected with the virus.

Seeking Alpha
Today's Markets:
In Asia, Japan -0.7% to 17558. Hong Kong -0.1% to 24485. China -2.5% to 3129. India -0.2% to 29122.
In Europe, at midday, London +0.3%. Paris +0.1%. Frankfurt +0.5%.
Futures at 6:20: Dow +0.3%. S&P +0.4%. Nasdaq +0.2%. Crude -0.7% to $47.93. Gold -0.1% to $1278.40.
Ten-year Treasury Yield -7 bps to 1.68%
Notable earnings before today's open: AVY, FLWS, LII, NKA, NMM, ONB, PBI, SYY, TEN, XOM
Notable earnings after today's close: ADVS, AEIS, AFG, AGNC, APC, ARE, BKH, CLF, FN, HIG, IDTI, LLNW, LMNX, MDU, NANO, OI, RCII, RGA,RTEC, TMK, TNAV, UDR, XL
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