Market Overview

Financial Breakfast: Morning News Summary for December 29, 2011

Thursday, December 29, 2011

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

The largest bond (physically) is New York Cable Railway, which measures approximately 2 feet by 3 feet including coupons, $1000 denomination dated 1884.

Benzinga's Top News

  • Italy sold about 7 billion euros in 10-year bonds at auction, versus an anticipated range of between 5 billion and 8.5 billion euros. Italian 10-year yields in turn fell below 7%, however, currently remains near the 7% level.
  • Chesapeake Energy Corp (NYSE: CHK) announced its plans to sell a pipelines unit to Chesapeake Midstream Partners (NASDAQ: CHKM) for $865 million.
  • Silver futures break below September lows at $26.145 per ounce.

Domestic Pre-Market Trading

  • U.S. Equity Markets trade higher as Dow futures trade up about 13 points.
  • U.S. Dollar trades about 0.5% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are mixed in afternoon trading. Britain's FTSE 100 slid 0.01%, Germany's DAX added 0.17% and France's CAC 40 gained 0.15% on the session.
  • Asian stocks ended the session mixed. China's Shanghai added 0.16%, Japan's Nikkei 225 lost 0.29%, and Hong Kong's Hang Seng fell 0.65%
  • Italy sold about 7 billion euros in 10-year bonds at auction, versus an anticipated range of between 5 billion and 8.5 billion euros. Italian 10-year yields in turn fell below 7%, however, currently remains near the 7% level.
To see more overseas news, click here.

Upgrades/Downgrades

  • DA Davidson upgrades Starbucks (NASDAQ: SBUX) to Buy
To see more of today's upgrades, click here.

  • Raymond James downgrades Edenor (NYSE: EDN) to Market Perform
To see more of today's downgrades, click here.

On the Economic Calendar

  • Initial and Continuing Jobless Claims are set to report at 8:30 a.m. ET
  • Chicago PMI is due at 9:45 a.m.
  • Pending Home Sales are to report at 10:00 a.m.
To see more economic news, click here

Earnings

    No Major Earnings this Morning
To see more earnings announcements, click here.

Corporate News

  • Special committee of Fushi Copperweld (NASDAQ: FSIN) announces receipt of revised 'going private' proposal at $9.50 per share
  • Chesapeake Energy Corp (NYSE: CHK) announced its plans to sell a pipelines unit to Chesapeake Midstream Partners (NASDAQ: CHKM) for $865 million.
To see more corporate news, click here.

Commodities

  • Precious metals are trading lower, with gold posting losses of about 2.23%
  • Energy futures are trading higher, with crude oil posting gains of about 0.19%
  • Natural Gas futures are higher by about 0.67% and copper is trading lower by about 0.5%
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 Dow 12319 12197 12133 12011 11947
E-Mini S&P 500 1272 1258 1250 1236 1229
Gold 1611 1584 1567 1540 1523
Crude 102.74 101.16 100.14 98.56 97.54
Natural Gas 3.22 3.17 3.14 3.09 3.06
EUR/USD 1.3145 1.3042 1.2976 1.2870 1.808
US Dollar Index 81.63 81.28 80.66 80.31 79.69


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Posted-In: Earnings News Guidance Upgrades Downgrades Futures Technicals Commodities Best of Benzinga

 

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