Market Happenings for Wednesday, April 11, 2012

Pre-market, futures are up after yesterdays triple dig Dow loss. Gainers this morning include OI, MPC, AA, GNW and AVP while losers include CSC, FFIV, GME, NTAP and GD.

The Market

Investors are looking for a reason to reverse recent losses as they shift their focus to the upcoming batch of corporate results. Aluminum producer Alcoa (AA) rang in earnings season Tuesday with a surprise quarterly profit, and its shares were up 6% in pre-market trading today.

European markets were higher in mid-day trading and in Asia, Japan’s Nikkei dropped by 0.8%%, while Hong Kong’s Hang Seng fell 1.1% and the Shanghai Composite gained 0.1%.

Prior to the opening bell, the Bureau of Labor Statistics reported that U.S. import prices rose 1.3% in March, while exports advanced 0.8%.

JPM is the next Dow component to report earnings Friday the 13th before the open.

New High of the Day – Atlas Energy (ATLS).

Earnings Reports

Earnings reports (sorted by mkt cap): ADTN – Adtran (consensus $0.27), TITN – Titan Machinery ($0.53).

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +4.8% with purchase mortgage sub-index +7.2% and refinancing sub-index +4.0%.

0730 ET Atlanta Fed President Dennis Lockhart will discuss the economy with reporters attending the Atlanta Fed’s financial market conference in Stone Mountain, GA.

0830 ET Mar import price index expected +0.9% m/m and +3.5% y/y, Feb +0.4% m/m and +5.5% y/y.

0930 ET Kansas City Fed President Esther George speaks at the Minsky Conference entitled “Debt, Deficits and Financial Instability.”

1030 ET Boston Fed President Eric Rosengren speaks on a panel at the Atlanta Fed conference on “Money Market Funds: Past Devils? Reformed into Future Angels?”

1030 ET DOE Weekly Petroleum Status Report

1300 ET Treasury auctions $21 billion 10-year T-notes.

1400 ET Fed’s Beige Book.

1400 ET Mar monthly budget statement expected -$203.0 billion, Feb -$231.683 billion.

1700 ET St. Louis Fed President James Bullard delivers opening remarks at the Homer Jones Memorial Lecture at the St. Louis Fed.

1730 ET Fed Vice Chairman Janet Yellen speaks to the Money Marketeers of NYU on “The Economic Outlook and Monetary Policy.”

Both comments and pings are currently closed.

Comments are closed.