What To Watch Today

What To Watch Today

U.S. markets are closed on Monday! With two days left before a three-day weekend, traders have their minds on other things.

What To Watch Today
What To Watch Today FreeStocks.org via StockSnap

Having trouble being inspired? Don’t worry, we’ve got you covered. Here are a few things to think about while you count down to your days off.  You’re welcome.

Earnings

First up - Q4.  The biggest tech stocks have already rolled out their digits the last quarter of 2018, but other companies are worth watching too.  Let us catch you up on what’s been happening this week:

  • Credit Suisse reported the first annual profit since 2013, but shares have been trading mixed.
  • Yelp reported better than expected earnings results yesterday and shares initially rallied 10%.
  • Cisco shares rallied 5% in extended trading following a strong earnings report after Wednesday’s close.
  • Dish Network reported negative earnings on Wednesday, reflecting that many consumers are turning to its online competitors for entertainment needs.
  • MGM Casino rallied modest following positive earnings yesterday.
  • Under Armour Inc also rallied following a positive earnings report on Wednesday.

Today’s earnings headlines will feature the following companies:

(PM) = Pre-Market  AH= After Hours

  • Sonoco (PM)
  • Coca Cola (PM)
  • Duke Energy (PM)
  • Aaron’s Inc (PM)
  • Bloomin’ Brands (PM)
  • Ryder (PM)
  • Sunlife Financial (AH)
  • CBS (AH)
  • Logmein (AH)

Today’s Economic Calendar:

Next up is a look at today’s agenda for a head's up on things that could weigh in on the markets.

The calendar is listed below, but be sure to take a look at today’s PPI number - the Producer Price Index. This is put out by the Bureau of Labor Statistics and is the headline event today, and analyst consensus is that the number is expected to be better in January following a disappointing December. Economists are watching this data to see if tariffs have been causing higher prices. So far, inflation has been controlled, which has kept the Fed patient in terms of future rate hikes.

Also up today is the January retail sales report. This was delayed due to the government shutdown, but it’s expected to come in with positive results since sales were picking up heading into the end of 2018.

The Calendar:

  • Jobless Claims 8:30 AM ET
  • PPI-FD 8:30 AM ET
  • Retail Sales 8:30 AM ET
  • Business Inventories 10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • Patrick Harker Speaks 11:00 AM ET
  • 3-Month Bill Announcement 11:00 AM ET
  • 6-Month Bill Announcement 11:00 AM ET
  • 2-Yr FRN Note Announcement 11:00 AM ET
  • 30-Yr TIPS Announcement 11:00 AM ET
  • 4-Week Bill Auction 11:30 AM ET
  • 8-Week Bill Auction 11:30 AM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Foreign Markets

Need some other trading ideas? Take a look at foreign markets.

China

Bloomberg broke a story that the U.S. is considering a 60-day extension of the March 1st deadline to raise additional tariffs.  Meanwhile, overnight, Chinese trade data was released showing a surplus with exports down and imports considerably lower. However, be aware that the January numbers are sometimes skewed due to China's observance of the Lunar New Year. Overnight, the Shanghai Exchange only closed slightly lower, down .05%, while the Nikkei and Hang Seng also closed marginally lower with 7 of 12 Asian stock markets modestly in the red.

Europe

This morning, European stock markets are getting a moderate lift with 11 of 13 markets are currently trading higher following the release of Eurozone GDP figures, which were in line with expectations. The CAC is leading up .51%, the FTSE is up .27%, and the DAX is up .19%.

Crude Oil

Last, but not least, here’s a head’s up on crude oil.

Crude Oil futures are up moderately this morning. This commodity has been the subject of attention since Goldman Sachs released a bullish view on the market this week saying that producers, including OPEC and Russia, are cutting supply while demand is rising. Goldman’s view is also that Venezuela will continue to decline in production. Meanwhile, Russia’s Minister of Energy, Alexander Novak, released a statement today affirming that OPEC does not currently have any output proposals in spite of the situation in Venezuela.

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