Stocks that are expected to trade actively in the U.S. market on Friday are: The Procter & Gamble Company (NYSE:PG), Microsoft Corporation (NASDAQ:MSFT), Honeywell International Inc. (NYSE:HON), Starbucks Corporation (NASDAQ:SBUX), Bristol-Myers Squibb Co (NYSE:BMY).
Market Level
USA- DJIA– 16,197.35, (-1.07%), S&P 500 1,828.46 (-0.89%), NASDAQ 4,218.88 (-0.57%)
Europe– FTSE 100 6,763.50 (-0.14%), DAX 9,616.80 (-0.15%), CAC 40 4,273.12 (-0.18%)
Asia– NIKKEI 15,391.56 (-1.94%), HANG SENG 22,450.06 (-1.25%), KOSPI 1,940.56 (-0.36%) SHANGHAI 2,054.39 (0.60%)
Commodities – Gold 1,260.60 (-0.16%), Silver 20.00 (0.89%) OIL 97.72 (0.41%) CORN 428.75 (-0.06%) WHEAT 572.25 (0.39)
Currency- USD/JPY 103.02 (0.02%), GBP/USD 1.6645 (0.05%), EUR/USD 1.3683 (-0.08%)
10 year Treasury bond: 2.72 (-0.061)
Economic & Market Update
U.S. market down – stocks on the U.S. Indexes fell on Thursday due to sluggish manufacturing data from China. The Dow Jones industrial average declined 175.99 points or 1.07%, to 16,197.35, the S&P 500 shed 16.4 points or 0.89%, to 1,828.46 and the Nasdaq Composite tumbled 24.126 points or 0.57%, to 4,218.875.
European stocks stable – European stocks were in a steady range on Friday as investor’s realized value in the market following the retreat in the previous trading session. Stocks that are influenced by the emerging market economies trounced in Latin American currencies. The FTSEurofirst 300 added 0.1% at 1,333.98 points by 0809 GMT
Asian market down – Stocks on Japanese indexes tumbled 1.9% to a one month low on Friday due to a drop in emerging markets currencies that spooked investors along with the previous day’s weak China factory survey, which continued to hurt sentiment. The Nikkei dropped 304.33 points lower to 15,391.56, the lowest closing level since Dec 17. The Hang Seng Index tumbled 1.3% to 22,450, and lost 3.0% for the week. The China Enterprises Index dropped 0.9% for the day and fell 1.5 on the week.
Stocks to watch
The Procter & Gamble Company (NYSE:PG)
Procter & Gamble is expected to post second quarter earnings of $1.20 per share on revenue of $22.34 billion. Shares of the company surged 0.33% to $78.50 in after-hours trading. The company has posted stable earnings for the previous eight quarters, and for the last four the net income has increased year over year by an average of 18%.
Microsoft Corporation (NASDAQ:MSFT)
Microsoft posted better than expected fiscal second quarter results, and stock climbed 3.51% to $37.32 in the after-hours trading session. The software and service segment of the business took the profit of the company higher. Also, Xbox and surface tablets boosted the growth.
Honeywell International Inc. (NYSE:HON)
Honeywell international is expected to post earnings of $1.21 per share on revenue of $10.19 billion in the fourth quarter. Shares of Honeywell surged 1% to $90.70 in after-hours trading. The company posted higher revenue for the last three quarters.
Starbucks Corporation (NASDAQ:SBUX)
Starbucks posted an increase of 25% in the first quarter, and upgraded its fiscal 2014 earnings outlook. Shares of Starbucks surged 1.10% to $74.20 in the after-hours trading session. The company reported profit of 71 cents per share fueled by the lower cost of coffee and stronger sales.
Bristol-Myers Squibb Co (NYSE:BMY)
Bristol-Myers is expected to post fourth quarter earnings of $0.43 per share on revenue of $4.30 billion. Shares of Bristol-Myers surged 1.33% to $54.67 in after-hours trading. Analysts are not very upbeat regarding the long-term potential of the stock.
