US midday: PIMCO chief sceptical of Greek agreement
Feb 09, 2012
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-El-Erian: Greek agreement may be "analytically questionable" -Bloomberg
DJI: 0.21%
Nasdaq Comp.: 0.42%
S&P 500: 0.05%
The main US equity benchmarks are registering slight falls now.
The above despite a small barrage of apparently positive developments this afternoon: Greek political leaders have reached an agreement on austerity measures, the European Central Bank will ease its collateral rules at its next long-term refinancing operation and better than expected data on initial unemployment claims.
Nonetheless, there are some observers, such as Mohammed El-Erian, the chief executive of bond-fund manager Pacific Investment Management Co. (PIMCO), who are sceptical that the agreement reached by Greek political leaders is likely to lead to growth, jobs, financial stability and new investments, according to Bloomberg.
On the company front, and at least at first glance the majority of corporate earnings results out this morning seem to have come in comfortably better than expected. This is the case with those out from Pepsi, Noble Energy, Lorillard, Akamai, Sealed Air and Visa.
The biggest banks, states and federal authorities have announced a settlement of more than $26bn Thursday over foreclosure practices. News of the agreement weighed on banks´ share prices at the start of the session.
From a sector stand-point the best performers now are: tobacco (2.80%), computer hardware (2.39%) and specialty finance (1.95%).
MACROECONOMY
Initial weekly unemployment claims fell by 15,000 last week, reaching 358,000 (Consensus: 370,000).
Wholesale inventories rose by 1.0% on the month in December (Consensus: 0.3%).
OTHER MARKETS
Front month crude futures are now rising by 0.95% to the $99.65/barrel mark in NYMEX trading.
10-year US treasuries are falling by 6/32 dollars, with yields at 2.04%.
S&P 500 - Risers
Akamai Technologies Inc. (AKAM) $38.05 +10.48%
Teradata Corp. (TDC) $64.04 +10.34%
Lorillard Inc. (LO) $123.36 +8.82%
MEMC Electronic Materials (WFR) $5.76 +7.66%
First Solar Inc. (FSLR) $48.90 +6.75%
Equifax Inc. (EFX) $41.85 +6.22%
Visa Inc. (V) $113.29 +4.56%
Computer Sciences Corp. (CSC) $32.68 +4.11%
Whole Foods Market Inc. (WFM) $80.97 +3.90%
Hess Corp. (HES) $62.71 +3.72%
S&P 500 - Fallers
PepsiCo Inc (PEP) $64.40 -3.50%
Tenet Hlthcre Corp. (THC) $5.66 -3.33%
Zimmer Holdings Inc. (ZMH) $60.70 -2.83%
Unum Group (UNM) $22.48 -2.29%
News Corp. Class A (NWSA) $19.20 -2.14%
Cerner Corp. (CERN) $69.41 -2.07%
Baker Hughes Inc. (BHI) $48.90 -2.01%
TECO Energy Inc. (TE) $17.80 -1.93%
Western Digital Corp. (WDC) $39.05 -1.81%
FMC Corp. (FMC) $93.44 -1.75%
Dow Jones I.A - Risers
United Technologies Corp. (UTX) $83.81 +2.53%
Bank of America Corp. (BAC) $8.25 +1.49%
American Express Co. (AXP) $52.23 +1.14%
E.I. du Pont de Nemours and Co. (DD) $52.17 +1.00%
Wal-Mart Stores Inc. (WMT) $62.15 +0.86%
Pfizer Inc. (PFE) $21.19 +0.86%
Boeing Co. (BA) $76.03 +0.76%
Walt Disney Co. (DIS) $41.53 +0.64%
Procter & Gamble Co. (PG) $63.96 +0.50%
Intel Corp. (INTC) $26.98 +0.47%
Dow Jones I.A - Fallers
Hewlett-Packard Co. (HPQ) $29.16 -1.02%
Cisco Systems Inc. (CSCO) $20.26 -0.81%
JP Morgan Chase & Co. (JPM) $38.02 -0.74%
Coca-Cola Co. (KO) $67.86 -0.69%
Exxon Mobil Corp. (XOM) $84.83 -0.57%
Merck & Co. Inc. (MRK) $38.24 -0.47%
Johnson & Johnson (JNJ) $64.96 -0.43%
McDonald's Corp. (MCD) $99.75 -0.30%
Alcoa Inc. (AA) $10.65 -0.20%
AT&T Inc. (T) $29.97 -0.17%
Nasdaq 100 - Risers
First Solar Inc. (FSLR) $48.90 +6.75%
Whole Foods Market Inc. (WFM) $80.97 +3.90%
Apple Inc. (AAPL) $493.95 +3.62%
Baidu Inc. (BIDU) $135.18 +3.27%
NetApp Inc. (NTAP) $40.89 +2.80%
Dish Network Corp. (DISH) $28.50 +1.97%
Illumina Inc. (ILMN) $53.12 +1.87%
J.B. Hunt Transport Services Inc. (JBHT) $52.79 +1.70%
Apollo Group Inc. (APOL) $53.78 +1.66%
Flextronics International Ltd. (FLEX) $7.05 +1.66%
Nasdaq 100 - Fallers
Research in Motion Ltd. (RIMM) $16.11 -2.30%
News Corp. Class A (NWSA) $19.20 -2.14%
Cerner Corp. (CERN) $69.41 -2.07%
Electronic Arts Inc. (EA) $17.94 -1.64%
Seagate Technology Plc (STX) $26.60 -1.48%
Biogen Idec Inc. (BIIB) $117.83 -1.48%
Lam Research Corp. (LRCX) $43.03 -1.35%
Staples Inc. (SPLS) $14.69 -1.34%
Amgen Inc. (AMGN) $67.22 -1.23%
Fastenal Co. (FAST) $48.27 -1.15%
AB
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