Global markets initially shot higher overnight following the aggressive action of Turkey’s Central Government to raise lending rates at an unprecedented pace in order to protect their faltering Lira. The optimism was short lived however; and US markets have already reversed into negative territory ahead of the much anticipated Federal Reserve Announcement later this afternoon. This crucial decision to increase the amount of tapering has the potential to rattle the already fragile emerging market landscape if liquidity continues to be tightened.
Gold futures (/GC) are up over 1% prior to open and may be active in today’s session as traders posture around the Fed announcement. The CBOE Volatility Index (VIX) closed just below $16 in the previous session, but may possibly try to test recent highs if markets continue to deteriorate. The 10 Year Treasury yield also climbed briefly following the surprise Turkish announcement only to retreat back to 2.76%. Oil Futures (/CL) have remained firm this week and continue to trade just above $97 a barrel as production continues to meet demand.
Stock Stories:
Yahoo (YHOO) – Ya Who??? – The recently hot internet search provider is stumbling this morning after a disappointing earnings report. Revenue fell 6% over the important 4th quarter and ownership in their Chinese counterpart Alibaba took a turn for the worst.
Boeing (BA) – Expected Turbulence?? – Boeing shares are down sharply this morning after easily beating quarterly estimates. The aircraft leader issued a much weaker than expected forecast for 2014 which has disappointed reversed shares from the recent all-time high of $144.57.
Major Economic Reports:
6:00 am CT – MBA Purchase Applications
9:30 am CT – Oil Inventories
1:00 pm CT – FOMC Meeting Announcement
Notable Earnings:
Before Market: BA, DOW, EMC, ENR, FLWS, JBLU, HES, MPC, PSX, PJC, PX, SO,TUP, VLO,WLP
After Market: AVB, CACI, CBT, CNQR, CTXS, ELY, FB, LVS, QLGC, QCOM, SYMC, TSCO
Thursday – 1/30: AMZN, BRCM, BTU, CAH, CL, CMG, COP, GOOG, MO, NEM, NOC, POT, TWC, XOM, UAUPS, V, VIAB |
发表于 2014-1-29 10:08
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