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NYSE Morning Update 07.01.2014

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MARKET ACCESS CENTER: MORNING REPORT


Ahead of the Bell: Dow futures are trading up 40 points and S&P futures are trading up 4 points. Today marks the first day of the second half of 2014 and global financial markets appear to be ignoring geopolitical events in Iraq and Ukraine as investors take on riskier asset classes. Central banks around the world, including the Federal Reserve, the Bank of Japan, and the ECB have given the green light to market participants that monetary policy will be accommodative for the foreseeable future. The US central bank has indicated that it is not likely to raise interest rates until the employment situation improves. Thus, stocks have had six winning quarters in the last year and a half.


On the economic calendar today, PMI manufacturing index for June will be released after the opening bell, a reading of 57.0 is forecasted compared with 56.4 for the month prior.
The dollar is up against the euro and down against the Japanese yen and the British pound. Gold is trading at $1,326. Crude oil is currently trading at $105 a barrel.
Yesterday, stocks ended with a split decision on mixed economic data from housing and manufacturing as investors speculate when the Federal Reserve will begin increasing interest rates.
On CNBC this morning, Governor Chris Christie, talked about getting New Jersey’s pension under control and taxes. Christie said 40 states in American have an unsustainable pension problem and people need to hear the truth; that is when they will empower the government to act. The current pension plan in New Jersey will not last. Governors around the country have to make their states competitive on tax rates. He added, you need to be a leader and be who you are.
Have a great day.
Monday's Close


DJIA down 25.24 pts/-0.15%/ 16,826.60
S&P down 0.73 pts/-0.04%/ 1,960.23
Nasdaq up 10.25 pts/+0.23%/ 4,408.18
Tuesday's Futures


Dow Futures up 40.00 pts/+0.24%
S&P Futures up 4.25 pts/+0.23%
Nasdaq Futures up 11.75 pts/+0.31%
Overseas Markets


FTSE +0.52%
CAC 40 +0.64%
NIKKEI 225 +1.08%
HANG SENG -0.13%


Overseas: Global stock markets are up today. European and Asian markets are up following better than expected PMI manufacturing and factor activity data from the euro zone and China.


Economic Reports: Motor Vehicle Sales expected to be 13.0 M, PMI Manufacturing Index expected to be 57.0 at 9:45 a.m., ISM Manufacturing Index expected to be 55.6 and Construction Spending expected to be 0.5% at 10:00 a.m.
Top Headlines



Hormel Foods Corporation (HRL) announced it is acquiring CytoSport Holdings Inc., for about $450 million, to add to its product line.
Cooper Companies Inc., (COO) announced it is buying Sauflon Pharmaceuticals Ltd., the maker of contact lens for $1.2 billion.
Gentiva Health Services Inc., (GTIV) said its board has rejected Kindred Healthcare's (KND) latest bid as the offer was too low.
Commodities/Currency


Gold: up $4.10 to $1,326.30
Oil: up $0.32 to $105.69


EUR/USD 1.3689 -0.0006
USD/JPY 101.5645 +0.2575
GBP/USD 1.7132 +0.0022
Volatility Index (VIX): As of the close of business Monday, June 30, 2014 the VIX is up 0.38 at 11.64.
Companies Reporting Quarterly Earnings



Park Electrochemical reports Q1 ex-items EPS 41c, vs. Est 34c and Q1 revenue $48.82M, vs. Est $49.04M.
Today's Opening and Closing Bells


TimkenSteel Celebrates Listing on NYSE. Ward J. ("Tim") Timken, Jr., Chairman, CEO and President of TimkenSteel Corporation will ring the Opening Bell.

The 33rd Fire Commissioner of City of New York, Daniel A. Nigro at the NYSE to Promote Fire Safety Surrounding the 4th of July Holiday will ring the Closing Bell.
For daily market recaps, check out our End of Day Report every evening!


End of Day Report »


Nothing herein constitutes an offer to sell or a solicitation of an offer to buy any security or a recommendation of any security or trading practice. Some information included above has been aggregated from multiple public third-party financial news sources for informational purposes only and redistributed to the NYSE Euronext community. NYSE Euronext does not control the content provided by these sources and does not guarantee the accuracy, integrity or quality of such content.


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