This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at email@example.com or call 800-767-3771 ext. 9339.
Tuesday, January 10, 2012
With nothing major on the economic calendar and the earnings season still some days off despite Alcoa’s (AA) report after the close on Monday, stocks will likely sustain the soft upward bias of the last few trading sessions. Alcoa’s results had a reassuring aspect in that they were less bad relative to their guidance some time back. The relatively less dire demand outlook for Aluminum will likely rub off on other commodity producers in today’s trading session.
Beyond the U.S. shores, we have Chinese international trade data for December showing a softening domestic demand environment, improving the odds of further monetary easing measures. The December exports numbers came inline with expectations, while imports came in weaker than expected. The full-year 2011 trade surplus figure was the lowest in the last seven years. When viewed in combination with the rebound in December PMI, it appears that the economy is stabilizing and will likely get a soft landing.
Among corporate pre-announcements, Juniper Networks (JNPR - Analyst Report) and Liz Claiborne ()lowered guidance, while Cirrus Logic (CRUS - Snapshot Report) raised its outlook for the quarter. Emulex (EMLX) also raised guidance citing its ability to get back to full capacity after being affected by the Thai floods.
Director of Reserach
Please login to Zacks.com or register to post a comment.