Stocks that are expected to trade actively in the U.S. market on Tuesday include: Apple Inc. (NASDAQ:AAPL), Tesla Motors Inc (NASDAQ:TSLA), Barnes & Noble, Inc. (NYSE:BKS), Silver Wheaton Corp. (USA) (NYSE:SLW) and MannKind Corporation (NASDAQ:MNKD).
Market Level
USA- DJIA 15801.79 (0.05%), S&P 500 1,799.84 (0.16%), NASDAQ 4,148.17 (0.54%)
Europe– FTSE 100 6,644.90 (0.81%), DAX 9,388.27 (1.06%), CAC 40 4,269.34 (0.76%)
Asia– NIKKEI 14718.34 (1.77%), HANG SENG 21962.98 (1.78%), KOSPI 1,932.06 (0.46%) SHANGHAI 2,103.67 (0.84%)
Commodities – Gold 1,285.10 (0.82%), Silver 20.14 (0.19%) OIL 100.39 (0.33%), Corn 443.00 (0.00%), Wheat 587.75 (0.51%)
Currency- USD/JPY 102.28 (0.04%), GBP/USD 1.6403 (0.00%), EUR/USD 1.3672 (0.21%)
10 year Treasury bond: 2.695 (0.025).
Economic and Market Update
U.S. market up – Wall Street was little changed on Monday as investors await testimony by the new U.S. Federal Reserve chairwoman. The markets are eagerly waiting to hear her thoughts on the apparent slowdown in the US labor market, and any update on the pace of the Fed’s stimulus program.
European market up – shares were up Tuesday morning following the sentiments of their Asian counterparts, as investors eagerly await the debut appearance from U.S. Federal Reserve Chair Janet Yellen. The pan-European Euro Stoxx 600 Index gained after eking out four straight days of gains. The basic resources sector witnessed maximum gains in the morning trade.
Asian markets up – equities were up on Tuesday, but the overall trading was subdued as investors await the debut speech from Federal Reserve Chair Janet Yellen. Japan was closed for a public holiday. Australia’s benchmark S&P ASX 200 index gained for a fourth-straight session, and closed at a more than two-week high. China’s benchmark Shanghai Composite ended the day at its highest levels in over a month for a second straight session.
Stocks to watch
Barnes & Noble, Inc. (NYSE:BKS)
On Monday, Barnes and Nobles surged 8.8% to close at $16.06 following the news that the company shut down its Nook hardware engineering staff. The option traders were upbeat picking more than six times the average daily amounts of contracts. By the end of the day 28,000 options were exchanges and call volume increased three times compared to put volume.
Silver Wheaton Corp. (USA) (NYSE:SLW)
Stock of Silver Wheaton surged 3.4% to close at $23.38 on Monday following an increase in price target to C$25 from C$24 by Credit Suisse analysts. The stock on a year-on-year basis is down nearly 36%, but has been climbing since the start of 2014.
MannKind Corporation (NASDAQ:MNKD)
Mannkind stock surged 5.6% Monday to $5.69 fueled by the recent rumors of a probable partnership announcement. Mankind shares have always reacted positively to the price action and the shares have surged by almost 120% year over year.
Apple Inc. (NASDAQ:AAPL)
Activist investor Carl Icahn has withdrawn his non-binding demand of increasing the stock buyback volume. He said that the company has already repurchased enough of its stock. Apple shares closed up 1.8% higher at $528.99 on Monday.
Tesla Motors Inc (NASDAQ:TSLA)
Tesla shares surged 5.38% to end the day at $196.56 on Monday. The stock surged beyond the previous record, set in September. Tesla stock dropped from its previous high by as much as 40% last year, in November, after multiple incidents of Model S fire.
