Morning Market Update
Stocks that are expected to trade actively in U.S trading on Friday include Research In Motion Ltd. (NASDAQ:BBRY) (TSE:BB), Accenture Plc (NYSE:ACN), Molycorp Inc. (NYSE:MCP), Alexion Pharmaceuticals Inc. (NASDAQ:ALXN), Nike Inc. (NYSE:NKE) and Pfizer Inc. (NYSE:PFE).
- U.S. Stock Futures: Dow Futures- 14,974.00 (+0.25%), S&P Futures- 1,611.50 (+0.30%), Nasdaq Futures- 2,906.75 (+0.25%)
- World Markets: Shanghai: 1,979.21 (+1.50%), Nikkei 225: 13,677.32 (+3.51%), Hang Seng Index: 20,803.29 (+1.78%), TSEC: 8,062.21 (+2.26%), FTSE 100: 6,234.35 (-0.14%), EURO STOXX 50: 2,613.19 (-0.25%), BSE Sensex: 19,395.81 (+2.75%)
- Currencies: EUR/USD: 1.3067 (+0.15%), USD/JPY: 99.05 (+0.67%), GBP/USD: 1.5231 (-0.20%), USD/CAD: 1.0482 (+0.02%), USD/CNY: 6.1376 (-0.19%), AUD/USD: 0.9233 (-0.48%)
- Metals: Gold: $1,202.00 (-0.79%), Silver: $18.76 (+1.25%), Platinum: $1,326.90 (+0.14%), Copper: $3.06 (+0.31%)
- 10-year U.S. Treasury: 2.47% (-0.02), 30-year U.S. Treasury: 3.54% (-0.01)
Market & Economy Update
After senior Federal Reserve officials tried to soothe investor concerns over when the Fed will start tapering its asset purchase program, 30-year mortgage rates surged to their highest level in more than three decades. Rates reached 4.46 percent this week. The fading stimulus pullback worries also pushed the stock futures higher.
It's no secret that ESG (environmental, social, governance) factors have become more important in investing. Fund managers are increasingly incorporating ESG factors into their portfolio allocations. However, those that don't are in danger of being left behind as investors increasingly avoid allocating with funds that don't incorporate ESG into their allocations. Q3 2021 hedge fund Read More
In Japan, Abemonics has finally started showing positive results. Data showed that labor demand ha risen to its strongest level in five years and consumer prices have stopped declining.
Stocks In News
BlackBerry reported disappointing first quarter results. The company blamed Venezuelan foreign-currency restrictions for the losses. BlackBerry said it would have reached break-even without the Venezuelan restrictions. The BlackBerry maker shipped 6.8 million smartphones during the quarter, but didn’t specify how many of them were BB10. BlackBerry posted a loss of $84 million or 16 cents per share with $3.1 billion in revenues. Shares tanked 23 percent in the early session to $11.15.
Accenture Plc (NYSE:ACN)
The consulting and outsourcing firm’s third quarter profits rose 18 percent amid higher revenues. However, revenues fell short of Wall Street expectations. The company also cut its full year earnings outlook. Shares slipped 8.68 percent to begin the session at $73.26.
Molycorp Inc (NYSE:MCP)
Molycorp Inc (NYSE:MCP) said in a statement that the SEC has completed its investigation into the accuracy of its public disclosures. Regulators said they wouldn’t take any enforcement action. Shares soared 8.20 percent in the early session to $6.07.
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN)
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) said that its eculizumab, or Soliris, drug has been granted orphan-drug status by the USFDA. It will help the company bring the drug to market sooner. Soliris can be used in the treatment of a rare neurological disorder. Shares jumped in the early session.
Nike Inc. (NYSE:NKE)
Nike reported a 22 percent increase in its fourth quarter earnings amid strong sales of its shoes and apparel. Earnings rose 27 percent to 76 cents a share, beating the consensus estimate by 2 cents. Revenues were up 7 percent to $6.69 billion, compared to the Wall Street estimate of $6.63 billion. Shares rose 0.13 percent in the early session to $62.40.
Pfizer Inc. (NYSE:PFE)
Pfizer Inc. (NYSE:PFE) has declared a 24-cent dividend for the third quarter. Pfizer said its board has approved a $10 billion share repurchase program. Shares jumped 1.14 percent to start the trading session at $28.50.