Market Overview

Financial Breakfast: Morning News Summary for July 5, 2012

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Thursday, July 5, 2012

This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.

Benzinga's Top News

Bank of England Leaves Rates Unchanged at 0.5%, BOE Asset Purchase Target Increased By £50B To £375B</li> China Cuts One Year Lending Rate 0.31 Percentage Points, Cuts One Year Deposit Rate 0.25 Percentage Points</li> </ul>

Domestic Pre-Market Trading

  • U.S. Equity Markets trade up as Dow futures trade higher about 34 points.
  • U.S. Dollar trades about 0.52% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are higher in afternoon trading. Britain's FTSE 100 added 0.52%, Germany's DAX advanced 0.81% and France's CAC 40 added 0.13% on the session.
  • Asian stocks ended the session mixed. China's Shanghai slid 1.18%, Japan's Nikkei 225 fell 0.27%, and the Hong Kong's Hang Seng Market advanced 0.50%.
  • Bank of England Leaves Rates Unchanged at 0.5%, BOE Asset Purchase Target Increased By £50B To £375B
  • China Cuts One Year Lending Rate 0.31 Percentage Points, Cuts One Year Deposit Rate 0.25 Percentage Points
To see more overseas news, click here.

Upgrades/Downgrades

  • JP Morgan Raises PT to $45 on Verizon (NYSE: VZ) on Better Wireless Margins
To see more of today's upgrades, click here.
  • Sterne Agee Downgrades Advanced Micro Devices (NYSE: AMD) to Neutral, PT to $8.50
To see more of today's downgrades, click here.

On the Economic Calendar

  • 07:45 a.m. ET - EUR Interest Rate Decision
  • 08:15 - ADP Nonfarm Employment Change
  • 08:30 - ECB Press Conference
  • 08:30 - Initial Jobless Claims
  • 10:00 - ISM Non-Manufacturing Index
  • 11:00 - Crude Oil Inventories
To see more economic news, click here

Earnings

  • No Major Earnings Today
To see more earnings announcements, click here.

Corporate News

  • American Apparel (NYSE: AAP) June Comparable Store Sales up 19%
  • The Wet Seal June (NASDAQ: WTSLA) Comparable Store Sales Down 9.0%; Affirms Second Quarter Guidance; to Conduct Capital Planning Review
To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.07%
  • Energy futures are trading higher, with crude oil posting early gains of about 1.16%
  • Natural Gas futures are trading 0.10% higher and copper is trading lower by about 0.10%
To see more commodities news, click here.


Benzinga's Morning Radar

Technical Levels for Futures and Forex
Name Resistance-2 Resistance-1 Mid Pivot Support-1 Support-2
E-Mini S&P 500 1373 1370 1367 1364 1361
Gold 1624 1619 1615 1610 1606
Crude 88.38 87.71 87.11 86.44 85.84
Natural Gas 2.99 2.96 2.92 2.89 2.86
EUR/USD 1.2648 1.2592 1.2549 1.2492 1.2450
US Dollar Index 82.64 82.43 82.16 81.96 81.69

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Posted-In: News Bonds Upgrades Downgrades Futures Technicals Commodities Forex Best of Benzinga

 

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