Day Traders Diary
4/21/14U.S equity futures show a slightly positive bias coming off last week's striking turnaround rally. Trading activity was fairly subdued in Asia and major European bourses remain closed following the Easter holiday.
Reviewing overnight developments:
Asian markets ended mixed. Japan's Nikkei -0.03%, China's Shanghai Composite -1.5%, and South Korea's Kospi -0.3%. Hong Kong's Hang Seng CLOSED.
Economic data was limited:
Japan's trade balance -JPY1446 billion (prior deficit of JPY800 billion) as exports rose 1.8% (last 9.8%) while imports increased 18.1% (prior 9.0%).
Bloomberg.com reports regulators will start reviewing IPO plans this week, triggering concerns about new supply that weighed on the Shanghai Composite
CNBC, citing Japan's Nikkei, notes Japan's ruling party is considering raising the ceiling on interest rates charged to borrowers
Major European indices are closed for Easter Monday.
There was no economic data reported
Among news of note:
Armed conflict reported in Eastern Ukraine between pro-Russian separatists and Ukrainian nationalists
In U.S. corporate news:
AstraZeneca (AZN 68.00, +4.50): Trading 7% higher on CNBC report that Pfizer (PFE 30.72, +0.47) mulling $100 bln offer for company
AMD (AMD 3.94, +0.25): Trading nearly 7% higher after beating by two cents and guiding Q2 revenues above the Capital IQ consensus estimate
Halliburton (HAL 61.33, +0.43): Up modestly after beating Capital IQ consensus EPS estimate by a penny and guiding Q2 in line
Hasbro (HAS 54.61): Topped first quarter consensus EPS estimate by four cents
Kimberly-Clark (KMB 112.54): Beat Capital IQ consensus estimate by a penny, reaffirmed FY14 guidance, and said it expects the spin off of its healthcare business to be completed by Q3/Q4
The Leading Indicators report for March will be released at 10:00 ET 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.