Every morning ValueWalk puts out a news report with the latest news in global stock markets, company news, and global economic news.
At this year's annual Robin Hood conference, which was held virtually, the founder of the world's largest hedge fund, Ray Dalio, talked about asset bubbles and how investors could detect as well as deal with bubbles in the marketplace. Q1 2021 hedge fund letters, conferences and more Dalio believes that by studying past market cycles Read More
- US: Dow Futures: 13144.00 (-0.14%), S&P 500 Futures: 1396.00 (-0.18%), NASDAQ Futures: 2707.00 (-0.07%)
- Europe: CAC: 3565.77 (-0.81%), DAX: 7105.43 (-0.74%), FTSE: 5939.46 (-0.44%).
- Asia-Pacific: Australia: 4290.80 (0.34%), China: 2410.18 (0.23%), Hong Kong: 21115.29 (-0.69%), India: 5257.05 (-1.14%), Japan: 10141.99 (0.12%).
- Metals: Gold: 1656.70 (0.05%), Silver: 32.50 (-0.30%), Copper: 3.89 (0.36%)
- Energy: Crude Oil: 107.63 (0.53%), Natural Gas: 2.31 (-0.69%)
- Commodities: Corn: 6.67 (1.05%), Soya Bean: 13.68 (0.62%), Wheat: 6.64 (1.36%)
- Currency: EUR/USD: 1.3154 (-0.17%), GBP/USD: 1.5872 (0.16%), USD/JPY: 83.3400 (-0.12%)
- 10 year US Treasury: 2.385% (-0.009)
Market and Economic News Update
U.S. stock-index futures decline: Stock index futures pointed to a lower open on Monday as investors might sit on the side-lines in the absence of major economic or corporate news. Ahead of the opening bell, the Dow Jones Industrial Average (INDEXDJX:.DJI), S&P 500 (INDEXSP:.INX) and NASDAQ (INDEXNASDAQ:.IXIC) futures were marginally lower.
European markets slip: European markets declined on Monday as investors await further evidence of economic recovery in Europe and the United States. Banks and autos were the biggest losers today, after rallying the most last week. The euro zone’s blue chip Euro STOXX 50 index ETF (NYSEARCA:FEZ) was down 0.6 percent at 2,593.41 points.
Asian markets had a mixed day: Asian markets ended mixed on Monday after media reports suggested that Chinese banks’ loan growth could fall short of quarterly targets, and home prices in China posted the worst performance in a year. Tokyo rose for the fifth consecutive session, while China’s Shanghai Composite ended 0.2% higher after a choppy trading session.
China home prices fall: According to a report by Beijing’s National Bureau of Statistics (NBS), 45 out of 70 large and midsized cities tracked by the government saw a fall in new home prices in February from the previous month.
Company News Update
- Apple Inc. (NASDAQ:AAPL) rose in early New York trading as the company is expected to announce a dividend, in a conference call today to discuss its $97.6 billion in cash and investments. https://www.valuewalk.com/2012/03/apple-inc-100-billion-cash-plan/
- EBay Inc (NASDAQ:EBAY) fell 2.5 percent after Citigroup cut its rating to neutral from buy.
- Domino’s Pizza, Inc. (NYSE:DPZ) gained more than 5 percent in pre-market trading after the pizza-delivery chain announced a one-time dividend of $3 per share to be paid on April 2.
- Starbucks Corporation (NASDAQ:SBUX), in its biggest move outside the coffee space, will open its first Evolution Fresh juice bar on Monday in Bellevue, Washington.
- Oil and gas producer QR Energy LP (NYSE:QRE) announced today it will buy oil properties in the Ark-La-Tex region (the intersection of Arkansas, Louisiana, Texas and Oklahoma) and Michigan for $230 million in cash.
- TNT Express NV (AMS:TNTE) was up 1.4 percent after United Parcel Service Inc. (NYSE:UPS) raised its bid for the company by 5.6 percent to 5.16 billion euros ($6.8 billion).
- British financial software maker, Misys Plc. (LON:MSY), soared 8 percent after Vista Equity Partners agreed to buy the company for 1.3 billion pounds ($2.1 billion) in cash.
- Scotland’s biggest insurer, Standard Life (LON:SL), fell 1.4 percent after Credit Suisse Group AG downgraded it from “neutral” to “underperform”.
- Tullow Oil Plc. (LON:TLW) fell after UBS downgraded it from “buy” to “neutral”. HSBC Holdings Plc also lowered its rating to underweight from neutral.
- Japanese commodity trading house, Marubeni (TYO:8002), jumped 2.4 percent after the Nikkei business daily reported the company planned to buy British wind power engineering company Seajacks International for about $850 million.
- Mitsubishi UFJ Financial Group (TYO:8306) and Mizuho Financial Group (TYO:8411) advanced after Moody’s Investors Services said the Bank of Japan’s plan to provide dollar funding to fast growing companies was positive for the banks.
- Aluminum Corporation of China Ltd (HKG:2600) declined in Hong Kong trading after it reported worse than expected fourth quarter loss, and also forecast a gloomy outlook.
- Guangzhou R&F Properties Co. (HKG:2777) fell 3 percent in Hong Kong as Chinese new home prices fell in 27 of 70 cities last month from a year earlier.
- India’s Reliance Communications (NSE:RCOM) has filed for an IPO for its undersea cable unit, in Singapore. The debt-ridden company is aiming to raise $1 billion.
- Australian mining company, Atlas Iron Limited (ASX:AGO), jumped 3.75 percent after the company said its Pardoo and Wodgina DSO mines affected by a cyclone which hit West Australia on the weekend, were back in operation.
Economic Calendar for Monday, March 19, 2012:
07:30 A.M. ET: Dallas Federal Reserve Bank President Richard Fisher speaks
10:00 A.M. ET: NAHB Housing Market Index
11:00 A.M. ET: 4-Week Bill Announcement
11:30 A.M. ET: 3-Month Bill Auction
11:30 A.M. ET: 6-Month Bill Auction