Friday, April 17, 2015

Happy Friday

Good morning folks, 
We are flashing a bit of red again this morning after a choppy session yesterday. Greece is getting more coverage and there is growing concern that they could leave the Euro. Oil took a little breather and the recovered near the end of the day. It may just consolidate a bit before it makes its next move. Gold took a little hit yesterday but I would keep a close eye on it along with the NUGT GDX GDXJ keep in mind that they can be very volatile so do not chase them but keep them on your radar.
The indexes are overbought and they appear to be getting tired. Taking a defensive stance may be a good approach to take heading into the weekend. 

FYI I had to bail on MNGA yesterday I tweeted out the news of the explosion at their facility the moment I saw it and sold the position. My prayers go out to those that were injured in the accident and their families. I will continue to watch the stock for further developments

Stocks on my Radar Premarket
ARIA can be a pop and flopper but breaking over key level in the premarket off pr, NVGN pr wild mover wait for a set up do not chase, ONCY gapper off pr could tag the 1 dolla holla, ATML daily not bad sold some assets to UNXL(gapper Don't chase) keep an eye on both of themincluding PXLW, IMMR hot daily pr possible 10 dolla holla thin one, ENZN potential continuation possible dip buy, YANG already a swing my look to add, GE TWTR FEYE nice looking daily charts and stocks I want to own on sale, FULL gapping possibly from The Street article out yesterday. TASR making new 52 week highs premarket  

CNBC in the NEWS

Positive momentum on Wall Street appears to be running out of steam this week, with U.S. stock futures sharply lower early this morning. The Dow and S&P 500 are shooting for a third straight positive week. (CNBC)
Friday's March consumer price index is more important than usual since it is one piece of data that traders say could change their assumptions on Fed policy. Inflation has been stubbornly low. (CNBC)

The earnings deluge this week lets up considerably today, but Dow stock General Electric (GE) this morning reported adjusted profit that slightly beat expectations, while revenue missed. Last week, the company announced an agreement to sell the bulk of its GE Capital assets. (CNBC)

American Express (AXP), another Dow stock, released lateThursday mixed results, with earnings beating expectations but revenue falling short. The company blamed, in part, the stronger dollar. (CNBC)

Schlumberger (SLB) is cutting an additional 11,000 jobs, because of a slowdown in drilling activity, especially in North America. The oilfield services giant beat on earnings but missed on revenue. (CNBC)

Bloomberg confirmed that its trading terminal experienced an outage this morning, with some users saying they were unable to perform their usual trading activity. (CNBC)

Verizon (VZ) is rolling out a new pay TV plan to allow consumers to choose bundles of channels they want to see, hoping the flexibility will lure customers away from cable rivals and online upstarts. (CNBC)

Google (GOOG) is about to change the way its influential search engine recommends websites on smartphones and tablets in a shift that's expected to sway where millions of people shop, eat and find information.

The Apple Watch is launching next Friday, but the devices won't be available to buy in stores initially, according to an internal memo. Customers are asked to order online. (NY Times)

Under a new agreement with search partner Microsoft (MSFT),Yahoo (YHOO) will be allowed to deliver its own search resultsand ads for up to half the searches made by visitors to its sites and apps. (NY Times)

Ford (F) is expected to announce today it'll invest $2.5 billion in Mexico to build new engines and transmissions as part of a drive to increase fuel efficiency across its product portfolio. (USA Today)

WikiLeaks has made more than 30,000 documents, including emails and email addresses, from last year's Sony Pictures hack available to the public. Sony (SNE) strongly condemned the actions. (NBC News)

Lawmakers have given the White House a key tool to influence the global landscape, according to Wisconsin Republican Rep. Paul Ryan, in the form of a bipartisan bill to "fast track" free trade deals. (CNBC)

CNBC debuted 26 years ago today, and it's kind of amazing to look at how far the stock market can come. The Dow is up 674 percent; the S&P is up 598 percent; and the Nasdaq is up 1099 percent since April 17, 1989.
Besides those consumer inflation numbers at 8:30 a.m. ET, investors get two other key economic reports at 10 a.m. ET: The University of Michigan's preliminary April consumer sentiment index and the Conference Board's index of leading economic indicators for March.

The Fed may allow big banks to use some municipal bonds to meet new liquidity rules, according to the Wall Street Journal, aimed at ensuring they have enough cash during a credit crunch.

Mattel (MAT) reported a quarterly loss of 8 cents per share, a penny less than expected, and the toymaker's revenue beat forecasts for the first time in a year and a half.
Advanced Micro Devices (AMD) lost 9 cents per share for its latest quarter, 4 cents wider than analysts had anticipated, and revenue was also slightly short of estimates.

Manitowoc (MTW) said it would report a first quarter loss, with the company's food service segment being hurt by a cut in capital spending by large restaurant chains.

ASML (ASML) now has JPMorgan Chase (JPM) as a 5.35 percent stakeholder, according to Dutch regulators. JPM was required to disclose its holding in the chipmaker under Dutch rules because it reached the 5 percent threshold.

Sygenta (SYT) reported lower than expected quarterly sales, as the Swiss company saw U.S. demand for its crop protection products hurt by the strong dollar and by severe winter weather.

Seeking Alpha

Today's Markets:
In Asia, Japan -1.2% to 19653. Hong Kong -0.3% to 27653. China +2.2% to 4288. India-0.8% to 28442.
In Europe, at midday, London -0.5%. Paris -1.4%. Frankfurt -1.6%.
Futures at 6:20: Dow -0.8%. S&P -0.8%. Nasdaq -1%. Crude -0.7% to $57.71. Gold+0.7% to $1205.90.
Ten-year Treasury Yield -2 bps to 1.88%
Today's economic calendar:
8:30 Consumer Price Index
9:55 Reuters/UofM Consumer Sentiment
10:00 Leading Indicators
Notable earnings before today's open: CMAFHNGEHONRAISTXSYF