Ahead of the Bell: Dow futures are trading up 6 points and S&P futures are trading up 2 points following a robust beginning for stocks in 2013. All the major indices are up to their highest level in about five years. The Japanese yen continues its climb against the greenback, but it did not halt the Nikkei 225 from rising above 11K points for the first time since April 2010. According to the China National Bureau of Statistics, profits at major industrial enterprises rose in 2012 from a year earlier. Reports indicate that nearly half of economists now believe the US economy will grow above 2% for 2013, as the economic data slowly improves.
On the economic calendar today, durable goods orders for December will be out before the opening bell and it is forecasted to be 1.6% versus 0.7% for November. The National Association of Realtors will release pending home sales for December after the...
Winner of the 2012 SNS Investment Expert Poll, Gert Jan Geels, sounds the gong at Beursplein 5.
The SNS Investment Expert Poll is held monthly since 1994. Every year a special end-of-year-poll is organised. Of the 104 participants Gert Jan Geels, Bullfinch, turned out best stockpicker. Geels chose Air France long and KPN short. Hermar Jansen, Theodoor Gilissen, had the best AEX prediction of 342.60. The AEX closed on 31 December 2012 at 342.71.
Russell Indexes, a leading global index provider, and NYSE Euronext announced a multi-asset global alliance to develop new tradable products and enhance the distribution and functionality of the RussellTick™ index feed. By accessing NYSE Euronext’s diverse geographical footprint, proprietary SFTI network and liquid customer base, Russell can unlock their potential by reaching new clients anywhere in the world with greater ease, performance and reliability while allowing customers to efficiently gain exposure to key Russell Indexes and data.
The partnership includes:
RussellTick™ to be Hosted in NYSE Euronext’s U.S. Liquidity Center & Global Index Feed
Alliance Highlights Complementary Strategic Direction & Enhances Capital Markets Community
Commitment to Introduce Additional Products in the U.S. & Europe Including Index Options
The economic release schedule for the week of January 28th is as follows:
Monday: Durable Goods Orders, Pending Home Sales Index, and Dallas Fed Mfg Survey
Tuesday: FOMC Meeting Begins, ICSC-Goldman Store Sales, S&P Case-Shiller HPI, Consumer Confidence, and State Street Investor Confidence Index
Wednesday: MBA Purchase Applications, ADP Employment Report, GDP, and FOMC Meeting Announcement
Thursday: Challenger Job-Cut Report, Jobless Claims, Personal Income and Outlays, Employment Cost Index, Chicago PMI, and Fed Balance Sheet
Friday: Motor Vehicle Sales, Employment Situation, PMI Manufacturing Index, Consumer Sentiment, ISM Mfg Index, and Construction Spending
I spoke with Arthur Cashin, Managing Director of Floor Operations at UBS Financial Services, and frequent CNBC commentator, about what he will be watching most closely next week. Cashin is focused on the overall market, weekly jobless...
Risk on/risk off became a widely known concept following the start of the economic crisis in 2008 in the US, when not only correlated but also non-correlated asset prices trended in the same direction based on investor fear levels following breaking news. Risk on/Risk off is a common explanation for price action during the (ongoing) European sovereign debt crisis as well.
Does gold belong in the risk on or the risk off bucket? As a commodity, gold could be...