Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

Check the background of this firm on FINRA's BrokerCheck.

Day Traders Diary

03/28/12

U.S. futures are showing modest gains this morning (S&P futures +2, DJ futures +28), as Europe fluctuates just below the flat line and following weakness in Asia.

Overnight in Asia, a selloff in China led the way lower for other Asian markets, with the Shanghai Composite following 2.7%. The drop in China has been attributed to cautious analyst commentary about earnings. Outside of China, the losses were less severe (Nikkei -0.7%, Hang Seng -0.7%). The decline in the Nikkei comes as many cos there go ex-dividend.

In Europe, a larger than anticipated contraction of the UK's Q4 GDP (-0.3% vs -0.2% prior and expectations) put a damper on stocks. The UK's FTSE (-0.2%) is underperforming relative to Germany and France, which are both flat.

U.S. news is relatively light this morning. After the close last night ZZ rose 16% after reporting better-than-expected results, while SNX dropped 9% on earnings and disappointing guidance. This morning, JOSB reported full year earnings slightly below consensus and provided cautious commentary for Q1; the stock is not trading yet in the pre-market. FDO is also unchanged after reporting better than expected earnings and roughly in-line guidance.

Later this morning the Feb Durable Orders report at 8:30 ET could have an impact on futures trade. After the open, crude inventory data at 10:30 ET could add volatility to the energy markets. Finally, after the close tonight MOS, RHT, PAYX, TXI, FUL, and RECN are scheduled to report earnings.
All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.