US open: Fed speakers show restrained optimism

RELATED QUOTES

SymbolPriceChange
FIS52.71+0.21
SBAC91.23+1.33
AVPI0.0040.000
FB59.2676-0.4524
LEN38.28-0.49

LONDON (ShareCast) - - Fed (Lockhart): 2013 will not be break-out year for US economy
- Fed (George): Near zero interest rates pose set of consequences
- Fed (George): Housing still has a long way to go until recovery
- Apple (NasdaqGS: AAPL - news) down 2 per cent after investor conference

Dow Jones Industrials: 0.45%
Nasdaq Comp.: -0.06%
S&P 500: 0.26%

The main US equity benchmarks were still trading mixed in mid-morning trading, ahead of this evening's State of the Union address from President Obama.

Also worth noting, remarks from at least two of members of the Fed seemed to evince a degree of restrained optimism.

According to Trimtabs a survey of hedge fund managers in late January found that bullishness on the S&P 500 surged to a 12-month high and that more than two-thirds of the survey's 121 respondents see less than a 50/50 chance of a sharp correction in the S&P 500 in the first half of 2013.

Acting as a backdrop, Bloomberg is commenting on how the risk of the automatic defence cuts associated with 'sequestration' could conceivably exact a heavy toll on economic activity.

In that regard, they point out that approximately 800,000 civilian workers could face furloughs as a result. Perhaps more surprisingly even, some reports are calling attention to the fact that the Nimitz-class aircraft carrier Harry S.Truman's redeployment to the Persian Gulf from its base in Norfolk has been postponed due to the threat posed by the impending spending cuts.

Shares of Apple are moderately lower after its Chief Executive Officer (CEO) again staked out his opposition to mobilising the company's enormous cash reserves.

Analysts at Sanford C. Bernstein have downgraded shares of Facebook (NasdaqGS: FB - news) .

Building product manufacturer Masco has beat analysts' profit estimates.

Avon Products (NYSE: AVP - news) is jumping after the release of better than expected profit figures.

Light (Other OTC: LGSXY - news) data calendar

Same-store retail chain sales fell by 2.5% week-on-week according to the latest ICSC survey data.

NFIB small business confidence survey increased to 88.9 points after a reading of 88 for the week before (Consensus: 89).

Crude futures and bond yields move higher
Front month West Texas crude futures are rising by 0.46% to the 97.50 dollar per barrel mark on the NYMEX.

10 year US Treasury yields are now rising by 1 basis point to the 1.98% mark.



S&P 500 - Risers
Avon Products Inc. (AVP (Other OTC: AVPI - news) ) $20.60 +19.22%
Masco Corp. (MAS) $20.16 +13.35%
Assurant Inc (NYSE: AIZ - news) . (AIZ) $40.58 +5.46%
D. R. Horton Inc. (DHI) $24.15 +5.37%
Fossil Inc (NasdaqGS: FOSL - news) . (FOSL) $112.90 +5.06%
PulteGroup Inc (NYSE: PHA - news) . (PHM) $20.22 +4.77%
Lennar Corp (NYSE: LEN - news) . Class A (LEN) $40.91 +4.18%
Moody's Corp. (MCO) $47.04 +3.41%
First Solar Inc (Xetra: A0LEKM - news) . (FSLR) $33.44 +3.34%
Akamai Technologies Inc (NasdaqGS: AKAM - news) . (AKAM) $36.45 +3.23%

S&P 500 - Fallers
Dun & Bradstreet Corp (NYSE: DNB - news) . (DNB (Other OTC: DNBHF - news) ) $79.95 -6.25%
Fidelity National Information Services Inc (NYSE: FIS - news) . (FIS) $36.30 -3.35%
Coca-Cola Co. (KO) $37.60 -2.63%
PPG Industries Inc (NYSE: PPG - news) . (PPG) $135.99 -2.41%
Marsh & McLennan Companies Inc (NYSE: MMC - news) . (MMC) $35.60 -2.06%
Dollar Tree Stores Inc. (DLTR) $40.18 -1.90%
Alexion Pharmaceuticals Inc (NasdaqGS: ALXN - news) . (ALXN) $90.70 -1.73%
QUALCOMM Inc. (QCOM) $66.04 -1.70%
Apollo Group Inc (NasdaqGS: APOL - news) . (APOL) $19.95 -1.68%
Crown Castle International (NYSE: CCI - news) (CCI) $68.87 -1.66%

Dow Jones I.A - Risers
Bank of America Corp. (BAC) $12.17 +2.61%
Hewlett-Packard Co. (HPQ) $17.12 +1.74%
JP Morgan Chase (Other OTC: JFTTL - news) & Co. (JPM) $49.22 +1.15%
Home Depot Inc. (HD) $67.03 +0.98%
AT&T Inc. (T) $35.55 +0.91%
Alcoa Inc (NYSE: AA - news) . (AA) $8.95 +0.90%
Travelers Company Inc. (TRV) $79.82 +0.77%
General Electric Co. (GE) $22.61 +0.73%
3M Co. (MMM) $103.35 +0.71%
Chevron Corp. (CVX) $116.44 +0.69%

Dow Jones I.A - Fallers
Coca-Cola Co. (KO) $37.60 -2.63%
Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $21.06 -0.99%
Pfizer Inc (NYSE: PFE - news) . (PFE) $27.10 -0.16%
Unitedhealth Group Inc. (UNH) $57.03 -0.16%
McDonald's Corp. (MCD) $95.05 -0.13%

Nasdaq 100 - Risers
Fossil Inc. (FOSL) $112.90 +5.06%
Akamai Technologies Inc. (AKAM) $36.45 +3.23%
Yahoo (NasdaqGS: YHOO - news) ! Inc. (YHOO) $21.28 +1.82%
Catamaran Corp (CTRX) $52.23 +1.40%
Check Point Software Technologies Ltd (NasdaqGS: CHKP - news) . (CHKP) $51.72 +1.27%
Liberty Interactive Corp (LINTA) $21.53 +1.13%
Citrix Systems Inc (NasdaqGS: CTXS - news) . (CTXS) $73.21 +1.12%
Sirius XM Radio Inc (NasdaqGS: SIRI - news) (SIRI) $3.17 +1.11%
Starz Class A (STRZA) $18.10 +1.06%
eBay Inc. (EBAY (NasdaqGS: EBAY - news) ) $57.00 +1.05%

Nasdaq 100 - Fallers
Facebook Inc. (FB) $27.53 -2.57%
Dollar Tree Stores Inc. (DLTR) $40.18 -1.90%
Alexion Pharmaceuticals Inc. (ALXN) $90.70 -1.73%
QUALCOMM Inc. (QCOM) $66.04 -1.70%
Nuance Communications Inc (NasdaqGS: NUAN - news) . (NUAN) $19.21 -1.58%
Equinix Inc (NasdaqGS: EQIX - news) . (EQIX) $214.90 -1.44%
Apple Inc. (AAPL) $473.19 -1.40%
Sba Communications Corp (NasdaqGS: SBAC - news) . (SBAC) $68.36 -1.33%
Verisk Analytics Inc (NasdaqGS: VRSK - news) . (VRSK) $53.95 -1.23%
Randgold Resources Ltd. Ads (GOLD) $90.58 -1.17%

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