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Halftime Report 2.4.2013

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A disappointing report on US Factory orders, helped the Dow move lower while all ten groups in the S&P 500 fell at least 0.4 percent, with Chevron (CVX) down 1.1 percent and Wal-Mart down 1.7 percent, leading the decline. This drop off could be merely based on people taking profits from a stellar January, however the markets, specifically the S&P 500, could be a bit overvalued, based on the slow economic recovery. The VIX did jump 13 percent today to 14.53, and is sporting the biggest gain on the year so far. The Euro also looked sluggish and slipped from recent highs against the dollar and yen on political uncertainty in Italy and rising unemployment in Spain.

 

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Morning Rage 9.6.2012

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The big story of the morning comes from Europe, as news from the European Central Bank drove the EUR/USD up higher 0.31%. Oil, Gold, and Silver futures all moved higher 1.09%, 0.95%, and 1.69% respectively. US indices futures are all up around 0.5%.

Navistar International Corp (NAV) moved 2% yesterday after a positive earnings report. Third quarter income was $84 million compared with last year’s 1.4 billion. Revenues in the third quarter were down 6 percent from the third quarter of 2011. The EPA issued a ruling on NCPs for highway diesel engines last week but NAV claims it is prepared with plans to transition to a new clean engine solution by 2013.

Amazon.com Inc. (AMZN) is said to reveal a new Kindle Fire product. An ad last night showed the new Kindle e-read and new Fire. Last week Amazon announced that it had sold out of the Kindle Fire. AMZN is sitting at 246.50.