US midday: Cleveland Fed hints at possible tapering of QE
Wal Mart warns
Wal Mart is down sharply after warning of the worst start to a month in sales in seven years. Shares of Herbalife are rocketing 22% higher after it was revealed that billionaire investor Carl Icahn has accumulated a 12.98% stake in the company. Quarterly results out of JM Smucker, Campbell Soup and VF Corp. have come in below forecasts. Marriott Intl. and Rockwell Collins have both announced share buy-back programmes. BMO Securities downgrades Urban Outfitters to market-perform.
Better than expected economic data
The University of Michigan's preliminary consumer sentiment gauge for the month of February has come in at 88 (Consensus: 85.5), led by the current-conditions sub-index, which improved to 88 from 85 (Consensus: 85.5). US industrial production contracted at a 0.1% month-on-month clip in January, but beat expectations when revisions to prior data are taken into account. Estimates for output from the manufacturing sector were revised higher particularly strongly. The Federal Reserve Bank of New Yorks manufacturing sector gauge for the month of February has come in at 10.04 (Consensus: -2).
Pull back in crude futures
West Texas crude futures are now falling by 1.47% to the $95.88/barrel level on the NYMEX. 10 year US Treasury yields are now flat and at the 2% mark. S&P 500 - Risers MeadWestvaco Corp. (MWV) $35.20 +11.11% Monster Beverage Corp (MNST) $51.10 +7.15% Best Buy Co. Inc. (BBY) $16.55 +5.35% Gap Inc. (GPS) $32.65 +4.13% VF Corp. (VFC) $157.83 +3.29% Archer-Daniels-Midland Co. (ADM) $32.43 +3.28% Sandisk Corp. (SNDK) $51.50 +2.94% CBS Corp. (CBS) $44.13 +2.76% Sealed Air Corp. (SEE) $19.47 +2.64% Biogen Idec Inc. (BIIB) $168.25 +2.22% S&P 500 - Fallers Agilent Technologies Inc. (A) $42.50 -4.67% Apache Corp. (APA) $76.83 -4.36% Frontier Communications Co. (FTR) $4.07 -4.13% Eog Resources Inc. (EOG) $127.84 -4.12% St Jude Medical Inc. (STJ) $41.31 -3.95% Newfield Exploration Co (NFX) $27.03 -3.84% Sears Holdings Corp. (SHLD) $46.63 -3.78% Hospira Inc. (HSP) $28.94 -3.69% Peabody Energy Corp. (BTU) $24.21 -3.20% Newmont Mining Corp. (NEM) $43.16 -3.12% Dow Jones I.A - Risers Coca-Cola Co. (KO) $37.33 +1.33% United Technologies Corp. (UTX) $90.51 +0.91% Walt Disney Co. (DIS) $55.37 +0.89% Pfizer Inc. (PFE) $27.22 +0.59% International Business Machines Corp. (IBM) $200.36 +0.36% Merck & Co. Inc. (MRK) $41.33 +0.35% Unitedhealth Group Inc. (UNH) $57.19 +0.25% McDonald's Corp. (MCD) $93.58 +0.02% 3M Co. (MMM) $102.80 +0.02% Dow Jones I.A - Fallers Wal-Mart Stores Inc. (WMT) $68.84 -2.80% Hewlett-Packard Co. (HPQ) $16.78 -1.44% Chevron Corp. (CVX) $114.22 -1.28% American Express Co. (AXP) $61.55 -1.27% E.I. du Pont de Nemours and Co. (DD) $46.65 -1.22% Bank of America Corp. (BAC) $11.99 -1.15% JP Morgan Chase & Co. (JPM) $48.72 -1.02% Intel Corp. (INTC) $21.03 -0.94% Exxon Mobil Corp. (XOM) $87.83 -0.78% General Electric Co. (GE) $23.24 -0.72% Nasdaq 100 - Risers Monster Beverage Corp (MNST) $51.10 +7.15% Sandisk Corp. (SNDK) $51.50 +2.94% Biogen Idec Inc. (BIIB) $168.25 +2.22% Dollar Tree Stores Inc. (DLTR) $40.81 +2.22% Activision Blizzard Inc. (ATVI) $14.28 +2.04% Intuit Inc. (INTU) $61.94 +1.94% Comcast Corp. (CMCSA) $41.06 +1.78% Sba Communications Corp. (SBAC) $69.09 +1.44% Akamai Technologies Inc. (AKAM) $38.39 +1.37% NetApp Inc. (NTAP) $36.32 +1.28% Nasdaq 100 - Fallers Randgold Resources Ltd. Ads (GOLD) $85.99 -3.89% Sears Holdings Corp. (SHLD) $46.63 -3.78% Regeneron Pharmaceuticals Inc. (REGN) $164.12 -3.03% Maxim Integrated Products Inc. (MXIM) $32.08 -2.61% Nuance Communications Inc. (NUAN) $18.64 -2.56% Starbucks Corp. (SBUX) $54.31 -2.24% Micron Technology Inc. (MU) $7.91 -2.17% DIRECTV (DTV) $49.20 -2.01% Amazon.Com Inc. (AMZN) $264.07 -1.92% Bed Bath & Beyond Inc. (BBBY) $57.69 -1.79%AB