Financial Breakfast: Morning News Summary for January 13, 2012

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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 JPM reports Q4 EPS $0.90 vs $0.90 Est; Revenues $22.2B vs $23.00B Est
  • Jingwei International 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 TWI to Outperform
  • Jefferies upgrades Safeway SWY to Buy
To see more of today's upgrades, click here.

  • Goldman Sachs downgrades McDermott International MDR to Neutral
  • DA Davidson downgrades Akamai Technologies 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 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 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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Posted In: EarningsNewsGuidanceUpgradesDowngradesFuturesTechnicalsCommoditiesForexManagementEventsGlobalEcon #sEconomicsPre-Market OutlookMarketsAnalyst RatingsTrading IdeasGeneral
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