Janet Yellen is a friend of the markets-at least for now.
During her Capitol Hill testimony yesterday, Yellen said that
the central bank would consider more than the unemployment rate
when evaluating the U.S. labor market. This comment contributed to
much of Tuesday's market gains.
Tuesday, the Dow was up 192.98 points to finish the day at
15,994.77 after briefly crossing over the 16,000 mark. This
represents a retracement of about half of its recent losses. The
S&P was up 1.1 percent, or about 20 points, to 1,819.75 and the
NASDAQ was up about one percent to close at 4,191.04.
This morning, U.S. markets are moving higher in premarket
trading. The Dow is indicated up about 27 points while the S&P
is three points higher. The NASDAQ is trending up about five
More snow is ravaging the south and is forecast to move up the
east coast. Natural gas price are again rising as a result.
Procter & Gamble (NYSE:
) is cutting its full year outlook on currency concerns. The stock
is down about 0.88 percent in premarket trading.
Better-than-expected Chinese trade data pushed markets higher.
The Nikkei was up about 0.6 percent to close at 14,800.06 and the
Hang Seng was up nearly 1.5 percent to finish at 22,285.79.
The Shanghai Composite closed 0.3 percent higher at 2,109.96 and
the Kospi was up about 0.2 percent closing at 1,953.84.
Europe is full of green arrows this morning. The FTSE is up
about 0.5 percent at 6,704.30 and the DAX is 0.9 percent higher at
9,565.86. Finally, the CAC is 0.6 percent higher at 4,308.67.
Commodities are higher with the exception of gold. WTI is up
about 0.7 percent at $100.64 while Brent is 0.4 percent higher at
$109.08. Natural gas is up two percent at $4.92 on concerns over
the winter weather crippling the south.
Gold is down about 0.2 percent at $1,287.10 and silver is higher
at $20.18. Copper is up about one percent at $3.24.
The euro is 0.04 percent higher against the dollar at 1.364 and
the dollar is about 0.2 percent stronger against the yen at
The pound is 0.3 percent higher against the dollar at 1.65 and
the Aussie dollar is at 0.949 against the dollar-up about 0.15
Kodiak Oil & Gas (NYSE:
) is down eight percent while Clean Energy Fuels (NASDAQ:
) is down 3 percent. Yelp (NASDAQ:
) is up 2.8 percent and Icahn Enterprises (NYSE:
) is up 4.3 percent.
Earnings reports from Tuesday:
The Mosaic Company (NYSE:
) reported fourth quarter EPS of $0.30, missing the consensus
estimate of $0.42. Revenue of $2.2 billion beat the consensus
estimate of $1.87 billion. CVS Caremark (NYSE:
) reported fourth quarter EPS of $0.39, beating the consensus
estimate of $0.35. Revenue of $32.8 billion beat the consensus
estimate of $32.67 billion. Sprint (NYSE:
) reported fourth quarter EPS of -$0.26, beating the consensus
estimate of -$0.33. Revenue of $9.14 million beat the consensus
estimate of $7.75 million.
The following companies will report after the closing bell
) is expected to report Q4 EPS $1.30 on revenue of $17.4 billion.
Cisco Systems (NASDAQ:
) is expected to report Q2 EPS of $0.46 on revenue of $11.03
billion. Deere (NYSE:
) is expected to report Q1 EPS of $1.52 on revenue of $6.62
billion. Whole Foods (NASDAQ:
) is expected to report Q1 EPS of $0.44 on revenue of $4.29
billion. NetApp (NASDAQ:
) is expected to report Q3 EPS of $0.71 on revenue of $1.63
To see more, .
At 10:30 AM ET, the EIA Petroleum Status Report will reach the
For a recap of Tuesday's market action, click .
Tune into Benzinga's #PreMarket Prep show at 8:00 am EST
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