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daytrading 19 july pre market

  1. gttrain

    7,460 posts.
    Good morning traders.

    The local market can look forward to a positive open as US and European markets made healthy gains overnight , ASX SPI + 20.

    U.S. stocks rose, sending benchmark indexes to records, as earnings from Morgan Stanley and UnitedHealth Group Inc. beat estimates and jobless claims fell amid testimony from Federal Reserve Chairman Ben S. Bernanke.

    Morgan Stanley rallied 4.8 percent as stock-trading revenue bolstered profit. International Business Machines Corp. added 2 percent after raising its full-year earnings target. UnitedHealth jumped 6.7 percent after profit beat estimates as membership surged. Intel Corp. lost 3.7 percent after forecasting third-quarter sales that may fall short of some analysts’ predictions. EBay Inc. (EBAY) tumbled 6.7 percent after its forecast for third-quarter sales missed estimates.

    “The underlying concept of what Bernanke is trying to accomplish is taking hold in the marketplace, and that’s a good thing,” Rick Fier, director of equity trading at Conifer Securities LLC in New York, said in an interview. His firm oversees about $8 billion. “The market gets the idea that a tapering is coming, the economy is improving and rates are still going to be low for a time. The initial jobless claims were better than expected. Earnings are coming in OK. All in all it’s hard not to be bullish on the market here.”

    DOW +78 pts

    SPX + 8

    NASDAQ + 1 ( intel and ebay were down)

    FTSE +62

    DAX +82

    Microsoft, which also reported after the markets closed, dropped 4.8 percent as profit missed analysts’ projections after Windows sales were hurt by shrinking demand for personal computers and the company wrote down the value of unsold inventory of its Surface tablet.

    Gold added 8 bucks to 1283 but the GDX gold miners index was down 0.40 %

    WTI crude + 1.56 …. 108.04 (just keeps going)

    Copper flat at 3.13

    Good luck .

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