Financial Breakfast: Morning News Summary for January 13, 2012
Posted in: Earnings, News, Futures, Guidance, Upgrades, Commodities, Downgrades, Forex, Technicals, Management, Events, Global, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, General, Best of Benzinga
Friday, January 13, 2012
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
• When the DOW hit bottom after the crash of 1929, it was down 89% from the pre-crash peak.
Benzinga's Top News
- JPMorgan Chase (NYSE: JPM) reports Q4 EPS $0.90 vs $0.90 Est; Revenues $22.2B vs $23.00B Est
- Jingwei International (NASDAQ: JNGW) announced resignation of its CFO
Domestic Pre-Market Trading
- U.S. Equity Markets trade lower as Dow futures trade down about 20 points.
- U.S. Dollar trades about 0.3% higher.
To see more pre-market news, click here.
Overseas Trading
- European markets are higher in afternoon trading. Britain's FTSE 100 added 0.04%, Germany's DAX gained 0.34% and France's CAC 40 advanced 1.01% on the session.
- Asian stocks ended the session mixed. China's Shanghai lost 1.35%, Japan's Nikkei 225 added 1.36%, and Hong Kong's Hang Seng gained 0.57%
To see more overseas news, click here.
Upgrades/Downgrades
- Oppenheimer upgrades Titan International (NYSE: TWI) to Outperform
- Jefferies upgrades Safeway (NYSE: SWY) to Buy
To see more of today's upgrades, click here.
- Goldman Sachs downgrades McDermott International (NYSE: MDR) to Neutral
- DA Davidson downgrades Akamai Technologies (NASDAQ: AKAM) to Neutral
To see more of today's downgrades, click here.
On the Economic Calendar
- Import Price Index and Trade Balance are due at 8:30 a.m. ET
- U of M Confidence Index is set to report at 9:55 a.m.
To see more economic news, click here
Earnings
- JPMorgan Chase (NYSE: JPM) reports Q4 EPS $0.90 vs $0.90 Est; Revenues $22.2B vs $23.00B Est
To see more earnings announcements, click here.
Corporate News
- Jingwei International (NASDAQ: JNGW) announced resignation of its CFO
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting losses of about 0.47%
- Energy futures are trading lower, with crude oil posting losses of about 0.13%
- Natural Gas futures are lower by about 1.4% and copper is trading lower by about 0.7%
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 | 12542 | 12478 | 12400 | 12336 | 12258 |
| E-Mini S&P 500 | 1306 | 1299 | 1290 | 1282 | 1273 |
| Gold | 1670 | 1660 | 1652 | 1641 | 1633 |
| Crude | 104.71 | 101.97 | 100.23 | 97.49 | 95.75 |
| Natural Gas | 2.82 | 2.76 | 2.71 | 2.65 | 2.60 |
| EUR/USD | 1.2931 | 1.2872 | 1.2784 | 1.2726 | 1.2639 |
| US Dollar Index | 81.92 | 81.50 | 81.20 | 80.80 | 80.53 |
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