Stocks that are expected to trade actively in U.S. markets on Monday include: J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT), Packaging Corp Of America (NYSE:PKG), Brown & Brown, Inc. (NYSE:BRO), KMG Chemicals, Inc. (NYSE:KMG), EPR Properties (NYSE:EPR).
U.S.: DJIA 15237.11 (0.73%), S&P 500 1,703.20 (0.63%), NASDAQ 3,791.87 (0.83%).
Europe: FTSE 6,494.21 (0.11%), DAX 8,704.79 (-0.24%), CAC 40 4,208.04 (-0.28%).
Asia Pacific: NIKKEI 14404.74 (1.48%), SHANGHAI 2,237.77 (0.43%), HSI 23218.32 (1.16%), ASX 200 5,207.86 (-0.44%), KOSPI 2020.27 (-0.23%).
Commodities: Oil 101.30 (-0.71%), NAT GAS 3.835 (1.56%), Gold 1,281.60 (1.06%), Silver 21.535 (1.30%), Wheat 688.50 (-0.54%), Corn 432.50 (-0.23%).
Currency: EUR/USD 1.3559 (0.13%), GBP/USD 1.5986 (0.13%), USD/JPY 98.24 (-0.32%).
10 year Treasury bond: 2.692 (0%).
Market and Economic Update
U.S. markets to open low: U.S. stock index futures indicated a lower opening on Monday due to the continued shutdown in the United States and lack of consensus between the Senate leaders over the deal to raise the nation’s debt limit. Futures for the Dow Jones Industrial Average dropped 91 points, or 0.6 percent, to 15,084, S&P 500 declined 11.30 points, or 0.7 percent, to 1,687.70, NASDAQ futures traded down 14 points, or 0.4 percent, to 3,211.50.
European markets stable: Shares were stable early on Monday. Investors were, however, not very aggressive as United States leaders failed to reach a consensus to fix the budget issue and moved a step nearer to debt default. At 0800 GMT, the FTS Eurofirst 300 index of top European shares was flat at 1,250.46 points after opening lower. In the previous two market sessions, the index surged and is up over 10 percent after sluggish movement recently.
Mixed sentiments from Asian markets: Asian equities were mixed on Monday following the lack of consensus between the U.S. leaders over budget talks. Shanghai Composite gained 0.4 percent despite strong inflation report. Indian stock market ended the day near a 1-month high, but Australia’s S&P ASX 200 and South Korea’s Kospi recorded a modest decline.
Stocks in News
J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)
JB Hunt Transport is expected to post third quarter earnings of 78 cents per share according to estimates by Thomson Reuters. Chaz Jones, an analyst at Wunderlich Securities said that they could be more bullish with JB Hunt “on any material pullback as we believe its integrated multimodal service platform stands to benefit from increasing truck regulations.”
Packaging Corp Of America (NYSE:PKG)
The Packaging Corp of America is expected to post its third quarter earnings at 89 cents per share. PCA announced last week it will buy Boise Inc for $12.55 per share or around $1.28 billion in total. The deal will be concluded in the fourth quarter. Lake Forest-based PCA deals in a range of linerboard and corrugated paper packaging products at four mills and 71 plants, according to its website.
Brown & Brown, Inc. (NYSE:BRO)
Brown & Brown is expected to post earnings of 40 cents per share in the third quarter. For the second quarter, the company posted an increase in profit from 29 cents in the previous year’s quarter to 36 cents. Brown & Brown stocks gained 0.58 percent to close at $32.99 on Friday.
KMG Chemicals, Inc. (NYSE:KMG)
KMG Chemicals is expected to post fourth quarter earnings of $0.27 per share on revenue of $79.00 million, according to analysts. Stock price of KMG shares has increased 4.99 percent to close at $23.76 on Friday.
EPR Properties (NYSE:EPR)
EPR properties have acquired Camelback Mountain Resort in Tannersville, PA, for around $70 million. EPR properties stock has increased 0.31 percent to close at $48.59 on Friday.