Daimler reported a massive loss and not only did Toyota forget how to make a gas pedal, but now the Corolla has forgotten how to steer.
Walmart ($WMT) disappointed, but Hewlett Packard ($HPQ) posted a decent number last night and guided higher. Futures are about flat, but the Nazzy is a tad higher off the number.
Greece is of the front page for now, but CDS spreads are now rising in Portgugal, and Italy is being scrutinized for their use of derivatives.
The IMF is dumping about two hundred metric tons of gold in the open market and gold ($GLD) is lower. It’s part of an earlier plan to “lighten up” on about four hundred tons. It will reduce the funds holdings by about one eighth.
Las Vegas Sands ($LVS) had a bad report last night and MGM ($MGM) is down this morning in sympathy. I believe they also report this morning.
Loving this headline that I saw this morning: “Recovery hopes lift European markets”.
Really? Last week they were in the midst of global Armageddon, those Europeans sure fix things fast.
The S&P is bumping into a little resistance at the 1100 level, let’s see if the bulls can go for the brass ring today.
Thursday, February 18, 2010
Economic
07:00 Canada Jan CPI
08:30 Jan PPI (last m/m 0.2%, y/y 4.4%, ex food & energy last m/m 0.0%, y/y 0.9%), Initial Jobless Claims (last 440K), Continuing Claims (last 4.538M)
10:00 Jan Leading Indicators (last 1.1%), Feb Philadelphia Fed (last 15.2)
10:30 Natural Gas Inventories
11:00 DoE Crude Oil/Gasoline/Distillate Inventories, US Treasury note announcements
Events
18:00 Fed’s Duke to speak. 19:00 Fed’s Lockhart to speak on US outlook. 20:30 Fed’s Bullard to speak on the US economy. Trades Ex-dividend: AIZ $0.15.
Earnings
Before the Open: AEE, APA, ARB, AACC, ATRC, AVA, B, ABX, BBW, CAB, CFX, CITP, CEP, CRY, DAI, DNR, DTV, DRYS, EVVV, GTIV, GLG, GT, HPY, HRL, ITWO, INCY, IMA, IVR, KNOL, KSWS, LTM, LL, MGM, NCI, NXY, NBL, PDCO, PLA, POOL, PDE, PEG, RGC, RS, SCHS, SPAR, SPNC, STFC, GASS, SFY, SCMR, TK, TRA, TTC, ULBI, VDSI, VTR, WMT, WW, WCG, WMB, WPZ, WIN. After the Close: ANAD, AGII, ARUN, AUTH, BUCY, BLDR, CPKI, CBS, DELL, DDR, ECLP, FSLR, GPRO, GFIG, LOPE, HGIC, HITT, HME, IM, INET, INTU, XXIA, JCOM, MCHX, MXWL, MMSI, MORN, NANO, ASGN, RRGB, SAPE, SEM, UEIC, UAM, WOOF, WRE, WBMD, WMGI.
Daimler reported a massive loss and not only did Toyota forget how to make a gas pedal, but now the Corolla has forgotten how to steer.