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Ahead of Wall Street

 

Tuesday August 30, 2016

(This is Brian Hamilton filling in for Mark Vickery who is on vacation this week.)

The futures markets were mixed this morning as investors digested several news items that hit the wires last night, and the impending Fed rate hike.  First, it was reported that oil explorers found only about a tenth of the level of new oil compared to its annual average level since 1960 in 2015, and that they have found even less in 2016.  This fueled worries about the ability to meet future demand. 

Also, yesterday the European Commission ruled against Apple (AAPL) regarding their tax situation with Ireland.  The commission stated that Ireland granted Apple Inc. illegal tax benefits worth up to $14.5 billion. Apple shares fell about -2% in premarket activity. 

On the international side, most of the European and Asian markets were in the green as it appears as though investors are turning more bullish in regards to the world economy. 

On the U.S. side we will be getting the Consumer confidence data around 10am.  The markets are expecting a minor pullback from the previous report of 97.3. 

But most importantly, the markets are awaiting Friday’s unemployment data which many believe will either cause the Fed to sit on their hands for another meeting, or prompt the panel into voting for a rate hike.

Brian Hamilton

Stocks On The Move

Company Symbol Price $Change %Change
HEALTH INSURANCE INNOVATIONS CL HIIQ 5.57 0.34 6.50
NL INDS INC NL 4.05 0.19 4.92
CLEAN ENERGY FUELS CORP CLNE 4.61 0.21 4.77
HALLADOR ENERGY CO HNRG 6.51 0.26 4.16
PACIRA PHARMACEUTICALS INC PCRX 41.08 1.59 4.03

Stocks Research Reports

Upgrades

Company Name Symbol Report
CA INC CA No report
WHITESTONE R.. WSR View Snapshot Report
WEST PHARMAC.. WST View Snapshot Report
OLYMPIC STEE.. ZEUS View Snapshot Report
ZYNGA CL A ZNGA View Snapshot Report

Downgrades

Company Name Symbol Report
CA
WHITESTONE R.. WSR View Snapshot Report
WEST PHARMAC.. WST View Snapshot Report
OLYMPIC STEE.. ZEUS View Snapshot Report
ZYNGA CL A ZNGA View Snapshot Report

Updates

Company Name Symbol Industry Name Report
1800FLOWERS... FLWS RETAIL-MAIL .. View Snapshot Report
1ST CONSTIT .. FCCY BANKS-NORTHE.. View Snapshot Report
21VIANET GP-.. VNET INTERNET SER.. View Snapshot Report
22ND CENTURY.. XXII MED-BIOMED/G.. View Snapshot Report
2U INC TWOU INTERNET SOF.. View Snapshot Report

Earnings and Economic News

Key Earnings Reports For Aug 31, 2016

Economic Event Reported
(+) Treasury bills (3 mth) - Aug 31, 2016 4:15 PM Eastern Time
(+) Treasury notes (10 yr) - Aug 31, 2016 4:15 PM Eastern Time
(+) Federal Funds Rate - Aug 31, 2016 4:15 PM Eastern Time
(+) Chicago PMI - Aug 31, 2016 --
(+) Crude Inventories - Aug 31, 2016 --
(+) Pending Home Sales - Aug 31, 2016 --