On Monday, investors as a whole didn't want to make any big
moves in anticipation of Fed Chief Janet Yellen's testimony.
Monday, the Dow was up seven points, basically flat, to finish
the day at 15,801.79 The S&P was up 0.2 percent to 1,799.84 and
the NASDAQ was up about 0.5 percent to close at 4,148.17.
This morning, U.S. markets are moving higher in premarket
trading. The Dow is indicated up about 70 points while the S&P
is up about eight points. The NASDAQ is trending about 16 points
In her first time before Congress, Yellen will speak to the
House of Representatives at 10:00 AM today and the Senate on
The White House delays employer mandate for small businesses until
2016. Google (NASDAQ:
) signs deal with ComScore (NASDAQ:
) that allows advertisers to track the effectiveness of their
campaign in near real time. Apple (NASDAQ:
) loses another battle to limit its court-appointed monitor
stemming from the e-book antitrust trial.
Asian markets were higher as they await Yellen's testimony and
Japan was closed for a public holiday. The Hang Seng was up nearly
1.8 percent to finish at 21,962.98.
The Shanghai Composite closed 0.8 percent higher at 2,103.67 and
the Kospi was up about 0.5 percent on the day at 1,932.06.
Europe is responding to the strong day in Asia as indices move
shapely higher. The FTSE is about one percent higher at 6,658.19
and the DAX is 1.3 percent higher at 9,415.28. Finally, the CAC is
one percent higher at 4,275.70.
Commodities are higher with the exception of copper. WTI is up
about 0.2 percent at $100.33 while Brent is up at $108.93. Natural
gas is up 1.3 percent at $4.63 but continues its downward slide
since reaching highs over $5.
Gold is up about 0.6 percent at $1,283.10 reaching a three-month
high and silver is flat at $20.12. Copper is down about 0.1 percent
The euro is 0.2 percent higher against the dollar at 1.367 and
the dollar is about 0.2 percent stronger against the yen at
The pound is 0.1 percent higher against the dollar at 1.642 and
the Aussie dollar is at 0.902 against the dollar-up about 0.9
Rackspace Hosting (NYSE:
)is down nine percent after announcing corporate restructuring as
its CEO announces his retirement after reporting earnings.
) is down five percent after announcing that it will cut 12,000
jobs in response to falling profits.
Earnings reports from Monday:
) reported Q4 EPS of $0.12, missing the consensus estimate of
$0.38. Revenue of $385 million beat the consensus estimate of
$195.8 million. Hasbro (NYSE:
) reported Q4 EPS of $1.12, missing the consensus estimate of
$1.22. Revenue of $1.28 billion missed the consensus estimate of
$1.3 billion. Rackspace Holdings (NYSE:
) reported Q4 EPS of $0.14, in-line with the consensus estimate.
Revenue of $408 million beat the consensus estimate of $404.56
The following companies will report after the closing bell
DaVita Healthcare Partners (NYSE:
) is expected to report Q4 EPS $0.99 on revenue of $3.03 billion.
The Andersons (NASDAQ:
) is expected to report Q4 EPS of $1.61 on revenue of $1.74
billion. Western Union (NYSE:
) is expected to report Q4 EPS of $0.32 on revenue of $1.43
billion. Fossil (NASDAQ:
) is expected to report Q4 EPS of $2.44 on revenue of $1.07
At 7:30 AM ET, the NFIB Small Business Optimism Index reaches
the market and Fed Chief Janet Yellen testifies before Congress at
10:00 AM ET.
For a recap of Monday's market action, click .
Tune into Benzinga's #PreMarket Prep show at 8:00 am EST
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