Seeking Alpha

Jim Van Meerten's  Instablog

Jim Van Meerten
Send Message
Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
My company:
Marketocracy Capital Management
My blog:
Barchart Portfolio Blogs
  • BARCHART MORNING CALL 7/7 0 comments
    Jul 7, 2014 10:17 AM | about stocks: BBBY, WSM, CNK, SCCO, SCHW, AMAT, DVN, WNR, BTU, CDE, DBOEYQ, EBAY, KING, ADM, BOBE, PLXT, BKD


    Monday, July 7th, 2014

    View Older Reports

    Everything you need to know about the markets in one free daily newsletter.

    E-mail: Submit

    You will also receive a free subscription to the Barchart family of newsletters.


    September E-mini S&Ps (ESU14 -0.05%) this morning are down -0.16% and European stocks are down -0.32% after German May industrial production unexpectedly declined for a third straight month. Also, IMF Managing Director Lagarde hinted that it may cut its global growth forecasts, saying investment is still weak and that risks remain in the U.S. even as its recovery accelerates. Asian stocks closed mixed: Japan -0.37%, Hong Kong -0.02%, China -0.11%, Taiwan +0.11%, Australia -0.11%, Singapore +0.59%, South Korea -0.26%, India +0.53%. Commodity prices are mostly lower. Aug crude oil (CLQ14 +0.17%) is down -0.20%. Aug gasoline (RBQ14 -0.18%) is down -0.49%. Aug gold (GCQ14 -0.50%) is down -0.41%. Sep copper (HGU14 -0.58%) is down -0.79%. Agriculture prices are unch. The dollar index (DXY00 -0.02%) is up +0.02% at a 1-week high after Goldman Sachs revised its forecast for the Fed to start raising interest rates in Q3 of 2015 rather than Q1 of 2016, saying the economy is "accelerating to an above-trend pace.". EUR/USD (^EURUSD) is down -0.01% at a 2-week low after German May industrial production unexpectedly plunged by the most in 2 years. USD/JPY (^USDJPY) is down -0.12%. Sep T-note prices (ZNU14 +0.01%) are up +0.5 of a tick.

    German May industrial production unexpectedly fell -1.3% m/m, weaker than expectations of unch m/m, the third straight monthly decline and the sharpest drop in 2 years. On an annual basis, May industrial production rose +1.3% y/y, weaker than expectations of +3.6% y/y.

    Eurozone Jul Sentix investor confidence unexpectedly rose +1.6 to 10.1, better than expectations of -0.7 to 7.8.

    UK Jun Lloyds employment confidence fell -3 points to 1.

    The Japan May leading index CI fell -0.8 to 105.7, a bigger decline than expectations of -0.6 to 105.9 and the lowest in 15 months. The May coincident index was unch at 111.1, higher than expectations of -0.1 to 111.0.


    There are no U.S. economic reports today. None of the Russell 1000 companies report earnings today. Equity conferences this week include: MicroStrategy Global User Conference on Tue, SEMICON West Conference on Tue, and Paris Europlace Financial Forum: Europe 2020 a Driver to Global Growth? on Tue-Wed.


    Bed Bath & Beyond (BBBY +2.68%) was downgraded to 'Underperform' from 'Neutral' at BofA/Merrill.

    Williams-Sonoma (WSM +0.51%) and Ultratech (UTEK -0.61%) were both upgraded to 'Buy' from 'Neutral' at BofA/Merrill.

    Cinemark (CNK +0.45%) was downgraded to 'Neutral' from 'Buy' at B. Riley.

    Southern Copper (SCCO +3.51%) was upgraded to 'Outperform' from 'Market Perform' at BMO Capital.

    Charles Schwab (SCHW +2.55%) was upgraded to 'Market Perform' from 'Underperform' at Raymond James.

    Applied Materials (AMAT +0.09%) was upgraded to 'Overweight' from 'Neutral' at JPMorgan.

    Devon Energy (DVN +0.80%) and Western Refining (WNR +2.58%) were both upgraded to 'Buy' from 'Neutral' at Citigroup.

    Peabody ({=BTU and Coeur Mining ({=CDE were both downgraded to 'Hold' from 'Buy' at Deutsche Bank.

    Deutsche Boerse (DBOEY -0.52%) was downgraded to 'Underperform' from 'Neutral' at Credit Suisse.

    DT Advanced Technologies (GTAT -1.11%) slid over 6% in pre-market trading after Canaccord Genuity Group downgraded the stock to 'Hold' from 'Buy.'

    Ebay (EBAY +0.77%) rose nearly 1% in pre-market trading after it said it extended a collect-in-store alliance with the UK's Argos chain to 650 outlets from 150.

    King Digital Entertainment (KING -2.93%) rose nearly 3% in pre-market trading after Piper Jaffray upgraded the stock to 'Overweight' from 'Neutral.'

    Archer-Daniels Midland (ADM +0.99%) rose 0.5% in pre-market trading after it said it will acquire Wild Flowers GmbH for $3 billion.

    Sandell reported an 8.4% stake in Bob Evans (BOBE +1.17%) .

    Gabelli reported an 8.45% stake in PLX Technology (PLXT unch) .


    Sep E-mini S&Ps (ESU14 -0.05%) this morning are down -3.25 points (-0.16%). The S&P 500 index on Thursday posted a fresh record high and closed higher. The main bullish factor was the U.S. Jun payrolls report that showed (1) a +288,000 increase in Jun non-farm payrolls, stronger than expectations of +215,000, and (2) an unexpected -0.2 point drop in the Jun unemployment rate to 6.1%, indicating a stronger labor market than expectations of unchanged at 6.3% and the lowest in nearly 6 years. Closes: S&P 500 +0.55%, Dow Jones +0.54%, Nasdaq +0.61%.

    Sep 10-year T-notes (ZNU14 +0.01%) this morning are up +0.5 of a tick. Sep 10-year T-note futures prices on Thursday slipped to a 2-week low and closed lower. Bearish factors included (1) the stronger-than-expected Jun payrolls report, and (2) reduced safe-haven demand for T-notes after the S&P 500 rallied to a new record high. Closes: TYU4 -5.50, FVU4 -5.00.

    The dollar index (DXY00 -0.02%) this morning is up +0.014 (+0.02%) at a 1-week high. EUR/USD (^EURUSD) is up +0.0001 (+0.01%). USD/JPY (^USDJPY) is down -0.12 (-0.12%). The dollar index on Thursday closed higher after stronger-than-expected U.S. Jun non-farm payrolls boosted speculation the Fed will bring forward the timing of expected interest rate increases. EUR/USD fell back after ECB President Draghi kept open the possibility of quantitative easing by the ECB when he said "we are strongly determined to safeguard the firm anchoring of inflation expectations over the medium term" and stand ready to embark on broad-based asset purchases if necessary. Closes: Dollar index +0.256 (+0.32%), EUR/USD -0.0048 (-0.35%). USD/JPY +0.408 (+0.40%).

    Aug WTI crude oil (CLQ14 +0.17%) this morning is down -21 cents (-0.20%). Aug gasoline (RBQ14 -0.18%) is down -0.0148 (-0.49%). Aug crude and gasoline prices on Thursday tumbled to 3-week lows and closed lower. Negative factors included (1) signs of increased supplies after Libya said it was opening the Es Sider and Ras Lanuf oil export facilities after it reached an agreement with rebels who have blockaded the ports for the past year, and (2) speculation Hurricane Arthur will curb fuel demand on the U.S. East coast over the Fourth of July holiday. Closes: CLQ4 -0.42 (-0.41%) RBQ4 -0.0060 (-0.20%).


    US1100 ETUSDA weekly grain export inspections.
     1600 ETUSDA weekly crop progress.
    JPN0100 ETJapan May leading index CI expected -0.5 to 106.0, Apr 106.5. May coincident index expected -0.1 to 111.0, Apr 111.1.
    GER0200 ETGerman May industrial production expected +0.2% m/m and +3.5% y/y, Apr +0.2% m/m and +1.8% y/y.
    EUR0430 ETEurozone Jul Sentix investor confidence, Jun 8.5.
    UK0430 ETUK Jun Lloyds employment confidence, May 4.

    U.S. STOCK CALENDAR07/07/2014

    Company NameTickerTimeEvent DescriptionPeriodEstimate
    Bed Bath & Beyond IncBBBY US9:00Annual General MeetingY 2014 
    Applied Materials IncAMAT US16:30Analyst BriefingY 2014 
    Brookdale Senior Living IncBKD US Annual General Meeting

Back To Jim Van Meerten's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • $EGRX - 100% Barchart technical buy signals - 5 new highs and up 7.89% in the last month - Relative Strength Index 69.84%
    2 days ago
  • $CORI - 100% Barchart technical buy signals - 15 new highs and up 48.67% in the last month - Relative Strength Index 78.77%
    5 days ago
  • $OCR - 100% Barchart technical buy signal - 9 new highs and up 18.32% in the last month - Relative Strength Index 82.24
    6 days ago
More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.