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Morning Call 1/22

Topic: Stock Price Movements — Technical Analysis
Jan. 22 2016, 10:41 AM ET - by VF member vanmeerten (903 gold star (click for information on feedback))

Morning Call 1/22 --

*Trade Financial (ETFC -0.12%) dropped nearly 3% in after-hours trading after it reported total Q4 net revenue of $454 million, below consensus of $454.5 million.8x8 Inc. (EGHT +1.27%) jumped over 5% in after-hours trading after it reported Q3 adjusted EPS of 5 cents, higher than consensus of 3 cents.Cardiovascular Systems (CSII -2.35%) slumped over 20% in after-hours trading after it lowered guidance on Q3 revenue to $40.5 million-$42.0 million, below consensus of $45.8 million.MARKET COMMENTSMar E-mini S&Ps (ESH16 +1.44%) this morning are up sharply by +27.50 points (+1.48%). Thursday's closes: S&P 500 +0.52%, Dow Jones +0.74%, Nasdaq +0.15%. The S&P 500 on Thursday closed higher on strength in energy producers as crude oil prices rose and on carryover support from a rally in European equities after ECB President Draghi said that downside risks have increased and the ECB may need to boost stimulus measures at next month's policy meeting. On the bearish side, U.S. weekly jobless claims unexpectedly rose +10,000 to a 6-1/4 month high of 293,000, indicating a weaker labor market than expected.Mar 10-year T-notes (ZNH16 -0.35%) this morning are down -14.5 ticks. Thursday's closes: TYH6 -6.50, FVH6 -2.00. Mar T-notes on Thursday closed lower on a rebound in stock prices that reduced safe-haven demand for T-notes. T-notes saw support from (1) carryover support from a rally in German bunds to a 2-3/4 month high after ECB President Draghi hinted at additional stimulus at next month's ECB meeting, and (2) the unexpected increase in U.S. weekly jobless claims to a 6-1/4 month high.The dollar index (DXY00 +0.26%) this morning is up +0.214 (+0.22%). EUR/USD (^EURUSD) is down -0.0042 (-0.39%). USD/JPY (^USDJPY) is up +0.48 (+0.41%) at a 1-week high. Thursday's closes: Dollar Index -0.035 (-0.04%), EUR/USD -0.0016 (-0.15%), USD/JPY +0.76 (+0.65%). The dollar index on Thursday jumped to a 1-1/2 month high but fell back and closed little changed. The dollar received a boost as EUR/USD fell to a 2-week low on signs the ECB may expand stimulus after ECB President Draghi said that "downside risks have increased" and that the ECB will consider its options at next month's policy meeting. Meanwhile, USD/JPY saw some reduced safe-haven demand for the yen after the stock market rallied.Mar crude oil (CLH16 +4.94%) this morning is up +$1.58 a barrel (+5.35%) and Mar gasoline (RBH16 +4.08%) is up +0.0477 (+4.52%). Thursday's closes: CLH6 +1.50 (+5.29%), RBH6 +0.0201 (+1.93%). Mar crude oil and gasoline on Thursday closed higher on comments from ECB President Draghi who said the ECB may bolster stimulus measures next month and on short-covering after crude oil prices plunged by over 22% in the past 2 weeks. Crude oil prices were undercut by the +3.98 million bbl increase in weekly EIA crude inventories, more than expectations of +2.5 million bbl, and the +4.563 million bbl increase in EIA gasoline supplies to a 15-3/4 year high of 245 million bbl.GLOBAL EVENT CALENDAR01/22/2016US0830 ETDec Chicago Fed national activity index expected +0.15 to -0.15, Nov -0.13 to -0.30.0830 ETUSDA weekly Export Sales.0945 ETPreliminary U.S. Jan Markit manufacturing PMI expected -0.2 to 51.0, Dec -1.6 to 51.2.1000 ETDec existing home sales expected +9.2% to 5.20 million, Nov -10.5% to 4.76 million.1000 ETDec leading indicators expected -0.1%, Nov +0.4%.1500 ETUSDA Dec Cold Storage.1500 ETUSDA Jan Cattle on Feed.GER0330 ETGerman Jan Markit/BME manufacturing PMI expected -0.2 to 53.0, Dec 53.2.0330 ETGerman Jan Markit services PMI expected -0.5 to 55.5, Dec 56.0.EUR0400 ETEurozone Jan Markit manufacturing PMI expected -0.2 to 53.0, Dec 53.2. Jan Markit composite PMI expected 0.2 to54.1.UK0430 ETUK Dec retail sales ex auto fuel expected -0.3% m/m and +3.5% y/y, Nov +1.7% m/m and +3.9% y/y.0430 ETUK Dec retail sales including auto fuel expected -0.3% m/m and +4.4% y/y, Nov +1.7% m/m and +5.0% y/y.0430 ETUK Dec public sector net borrowing expected +10.0 billion pounds, Nov +13.6 billion pounds.U.S. STOCK CALENDAR01/22/2016CompanyTickerTimeEvent DescriptionPeriodEstimateGeneral Electric CoGE USBef-mktQ4 2015 Earnings ReleaseQ4 20150.494Kansas City SouthernKSU USBef-mktQ4 2015 Earnings ReleaseQ4 20151.101SunTrust Banks IncSTI USBef-mktQ4 2015 Earnings ReleaseQ4 20150.867Synchrony FinancialSYF USBef-mktQ4 2015 Earnings ReleaseQ4 20150.633Rockwell Collins IncCOL US6:30Q1 2016 Earnings ReleaseQ1 20161.044Legg Mason IncLM US7:00Q3 2016 Earnings ReleaseQ3 20160.7SunTrust Banks IncSTI US8:00Q4 2015 Earnings CallQ4 2015General Electric CoGE US8:30Q4 2015 Earnings CallQ4 2015Legg Mason IncLM US8:30Q3 2016 Earnings CallQ3 2016Synchrony FinancialSYF US8:30Q4 2015 Earnings CallQ4 2015Kansas City SouthernKSU US8:45Q4 2015 Earnings CallQ4 2015Schlumberger LtdSLB US9:00Q4 2015 Earnings CallQ4 2015Rockwell Collins IncCOL US9:00Q1 2016 Earnings CallQ1 2016Legg Mason IncLM USInvestor DayY 2016

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Morning Call 1/22