Premarket watch:
CIEN is down 10%, after reported Q3 EPS of ($0.04), $0.02 worse. Revenue $474.1M vs of $473.3M. http://www.marketwatch.com/story/cienas-loss-narrows-2012-08-30
TIVO: up 6%.
P: up 13%
**
Today's economic data showed, US GDP is still crawling 1.7% and overall data were pretty flat but better then last month. But the market mood is set in a such a way that a bad news is good news and good news is great news. Right now stocks are in downtrend but all the hope are put on Firday's Ben Bernanke speech by the media. So what will happen if he disappoint, the hope of easing will move to September 6th ECB meeting. If ECB fails to deliver, all hope will move to September 12th, German court rule, and if they fail then deliver, hope of easing will move to September 12-13th Fed Fomc meeting. But September 13th, will be last day of hope of easing. Most of the money manager will try to maximise their return by September 13th. So till then keep patience and don't be invested all the time.
CIEN is down 10%, after reported Q3 EPS of ($0.04), $0.02 worse. Revenue $474.1M vs of $473.3M. http://www.marketwatch.com/story/cienas-loss-narrows-2012-08-30
TIVO: up 6%.
P: up 13%
**
Today's economic data showed, US GDP is still crawling 1.7% and overall data were pretty flat but better then last month. But the market mood is set in a such a way that a bad news is good news and good news is great news. Right now stocks are in downtrend but all the hope are put on Firday's Ben Bernanke speech by the media. So what will happen if he disappoint, the hope of easing will move to September 6th ECB meeting. If ECB fails to deliver, all hope will move to September 12th, German court rule, and if they fail then deliver, hope of easing will move to September 12-13th Fed Fomc meeting. But September 13th, will be last day of hope of easing. Most of the money manager will try to maximise their return by September 13th. So till then keep patience and don't be invested all the time.
The other issue right now with this market is that its more robot controlled then human controlled and right now set to move along 200 ma.
Based on the chart, stock market is expected to open low. Futures needs to be down 45 point to break 200 ma.
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| Dow jones closed in bearish and its expected to open lower tomorrow |
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| Dow Jones 1 month still showing support at 13082 followed by 13068. If it breaks 13068 then sell your bull stock. |
After hour trading:
| Percentage Gainers | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| Pandora Media | P | 2,218,135 | $11.03 | 0.95 | 9.42 | $11.39 | $10.11 | ||
| Flow International | FLOW | 7,050 | 3.82 | 0.24 | 6.70 | 3.82 | 3.58 | ||
| Exelixis | EXEL | 328,435 | 4.85 | 0.26 | 5.66 | 5.10 | 4.54 | ||
| United Online | UNTD | 27,162 | 5.37 | 0.28 | 5.50 | 5.37 | 5.00 | ||
| TiVo | TIVO | 423,717 | 9.84 | 0.48 | 5.13 | 10.28 | 9.00 | ||
| Percentage Decliners | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| Casella Waste Systems Cl A | CWST | 7,199 | $4.47 | -0.55 | -10.96 | $5.47 | $4.47 | ||
| Vera Bradley | VRA | 326,683 | 21.12 | -2.50 | -10.58 | 23.62 | 20.55 | ||
| Oxford Industries | OXM | 14,938 | 48.02 | -4.65 | -8.83 | 52.58 | 47.04 | ||
| Bank Mutual | BKMU | 6,494 | 4.10 | -0.26 | -6.00 | 4.36 | 4.10 | ||
| Sears Holdings | SHLD | 12,552 | 55.21 | -2.24 | -3.90 | 57.45 | 55.00 | ||
Economic Calendar:
| Date | Time | Currency | Event | Importance | Actual | Forecast | Previous | Notes |
|---|
Thu
Aug 30 | 03:55 |  | EUR German Unemployment Change (AUG) | High | 7K | 7K | ||
| 03:55 | | EUR German Unemployment Rate s.a. (AUG) | Medium | 6.8% | 6.8% | |||
| 04:00 | | EUR Italian Hourly Wages (MoM) (JUL) | Low | 0.2% | ||||
| 04:00 | | EUR Italian Hourly Wages (YoY) (JUL) | Low | 1.5% | ||||
| 04:30 |  | GBP Mortgage Approvals (JUL) | Medium | 47.0K | 44.2K | |||
| 04:30 | | GBP Net Consumer Credit (JUL) | Medium | 0.5B | 0.6B | |||
| 04:30 | | GBP Net Lending Sec. on Dwellings (JUL) | Medium | 0.5B | -0.4B | |||
| 04:30 | | GBP M4 Ex IOFCs 3M Annualised (JUL) | Low | 3.0% | 2.9% | |||
| 04:30 | | GBP M4 Money Supply (MoM) (JUL) | Low | -1.6% | ||||
| 04:30 | | GBP M4 Money Supply (YoY) (JUL) | Low | -5.2% | ||||
| 05:00 | | EUR Euro-Zone Consumer Confidence (AUG F) | Medium | -24.6 | -24.6 | |||
| 05:00 | | EUR Euro-Zone Business Climate Indicator (AUG) | Low | -1.3 | -1.27 | |||
| 05:00 | | EUR Euro-Zone Economic Confidence (AUG) | Low | 87.5 | 87.9 | |||
| 05:00 | | EUR Euro-Zone Industrial Confidence (AUG) | Low | -15.5 | -15 | |||
| 05:00 | | EUR Euro-Zone Services Confidence (AUG) | Low | -9 | -8.5 | |||
| 05:00 | | EUR Italian Business Confidence (AUG) | Low | 86.8 | 87.1 | |||
| 08:30 |  | USD Personal Consumption Expenditure Core (YoY) (JUL) | High | 1.7% | 1.8% | |||
| 08:30 |  | CAD Current Account (BoP) (Canadian dollar) (2Q) | Medium | -$15.0B | -$10.3B | |||
| 08:30 | | USD Initial Jobless Claims (AUG 25) | Medium | 370K | 372K | |||
| 08:30 | | USD Personal Consumption Expenditure Core (MoM) (JUL) | Medium | 0.1% | 0.2% | |||
| 08:30 | | USD Personal Income (JUL) | Medium | 0.3% | 0.5% | |||
| 08:30 | | USD Personal Spending (JUL) | Medium | 0.5% | 0.0% | |||
| 08:30 | | USD Continuing Claims (AUG 18) | Low | 3307K | 3317K | |||
| 08:30 | | USD Personal Consumption Expenditure Deflator (MoM) (JUL) | Low | 0.1% | 0.1% | |||
| 08:30 | | USD Personal Consumption Expenditure Deflator (YoY) (JUL) | Low | 1.4% | 1.5% | |||
| 10:30 | | USD EIA Natural Gas Storage Change (AUG 24) | Low | 47 | ||||
| 11:00 | | USD Kansas City Fed Manf. Activity (AUG) | Low | 3 | 5 | |||
| 19:01 | | GBP GfK Consumer Confidence Survey (AUG) | Medium | -27 | -29 |
