U.S. equity index futures were higher this morning. S&P 500 futures were up 61 points in pre-opening trade.
The Canadian Dollar is up 0.18 to U.S.74.88 cents prior to an announcement at 10:00 AM EST by the Bank of Canada on interest rate policy. Consensus is that the Bank of Canada will reduce its overnight lending rate to major Canadian Banks by at least 0.25% to 1.50%.
Hewlett Packard Enterprises slipped $0.30 to $12.59 after reporting lower than consensus fiscal first quarter revenues. The company also lowered second quarter guidance.
Urban Outfitters dropped $2.21 to $20.92 after reporting lower than consensus fourth quarter earnings.
Nordstrom (JWN $33.44) is expected to open lower after reporting lower than consensus fourth quarter revenues and earnings.
Campbell Soup added $0.08 to $47.96 after reporting higher than consensus adjusted fiscal second quarter earnings. The company also raised guidance.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/03/03/stock-market-outlook-for-march-4-2020/
StockTwits released yesterday @EquityClock
Nil
Observation
U.S. Treasury Bond prices and related ETF prices continue to move higher with the news of a 0.50% drop in the Fed Fund Rate.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for March 3rd 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 3rd 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 3rd 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
Percent of S&P 500 stocks trading above their 50 day moving average dropped 4.41 to 10.22 yesterday. Percent remains intermediate oversold.
TSX Momentum Barometer
Percent of TSX stocks trading above their 50 day moving average increased 3.05 to 23.32 yesterday. Percent remains intermediate oversold and showing signs of reaching a short term bottom.
Disclaimer: Seasonality and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed
Sponsored By... |
More from the network: |