US open: Possible rift between House and Senate Republicans

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LONDON (ShareCast) - -Possible rift developing between Republicans in House and Senate -BBC
-S and P 500 moving below 200 day moving average
-Sandy leaves mark on economic data

Dow Jones (DJI: ^DJI - news) : -0.20%
Nasdaq Comp.: -0.34%
S&P 500 (SNP: ^GSPC - news) : -0.11%

US markets are now trading mixed after the release of a batch of disappointing macroeconomic figures, although for the most part those seemed to reflect the hit taken by the north-eastern seaboard of the United States from hurricane Sandy.

That following a dip by the Standard&Poor's 500 equity benchmark, last night, below its 200 day moving average, which may foreshadow a larger correction, although investors will likely be more nervous now.

Acting as a backdrop, some "market chatter" seems to be calling attention to President Obama's stance, yesterday, as regards the need for the highest income earners to pay more taxes and that simply removing tax loop-holes -as Republicans proposed- will not suffice. Also worth mentioning, some observers believe that a rift may be developing between Republicans in the House and those in the Senate.

The above comes ahead of contacts, tomorrow, between the President and representatives from both political parties.

Back on the corporate front, and within the retail sector, the globe's largest retailer by sales, Wal-Mart, has dampened profit expectations for the fourth quarter in anticipation of a Christmas pricing war.

The retailer guided to fourth quarter earnings of 153 to 158 cents a share, just below the median consensus forecasts of 159 cents.

Dollar Tree (NasdaqGS: DLTR - news) , which sells a rag-bag collection of goods for a dollar or less, looks to be doing better than Wal-Mart, as its third quarter earnings per share of $2.70 beat market expectations of $2.48.

Data storage (Other OTC: DTAS.PK - news) specialist NetApp (Xetra: A0NHKR - news) is riding the wave of the surge in popularity of cloud computing. It topped analyst expectations of earnings per share (EPS) of 48 cents with underlying EPS of 51 cents.

Integrated oil giant BP is in focus after it confirmed it is close to a deal with the US Department of Justice and the Securities & Exchange Commission regarding proposed resolutions of all US federal government criminal and SEC claims against BP in connection with the Deepwater Horizon incident.

The Reuters news agency has suggested that BP's fine could prove the largest in US corporate history; the unwanted record for the largest fine is held by drugs firm Pfizer (BSE: PFIZER.BO - news) , which paid a $1.3bn fine in 2009 in relation to marketing fraud charges.

Sandy leaves its mark

First (OTC BB: FSTC.OB - news) -time jobless claims last week jumped 78,000 to 439,000, which was the largest weekly gain since April 2011. "The positive effect may persist for a couple of weeks further, given prolonged power outages and closures in some areas, but ultimately will prove temporary, and we would expect claims to fall back in time and resume the broadly sideways trend evident prior to the hurricane," Barclays (LSE: BARC.L - news) said.

Meanwhile, consumer prices rose 0.1% month-on-month in October after advancing 0.6% in September. The rise was in line with market expectations.

The core measure, which strips out items such as food and energy, where prices are more volatile, rose by 0.2%, more than expected, as rents and clothing costs picked up faster than expected.

The Federal Reserve Bank of Philadelphia's manufacturing sector survey for the month of November (Xetra: A0Z24E - news) has come in at -10.7 points, after a reading of 5.7 for the previous month, following "the disruptive effects of Hurricane Sandy." That as the gauge for inventories dropped sharply but the prices paid sub-index increased significantly. The consensus estimate had been for a reading of 3.

Small drop in crude futures


10 year bond yields are rising by 1/32 dollars, with yields at 1.59%

Front month West Texas crude futures are off by 0.28% to the $86.08/barrel mark on the NYMEX.

S&P 500 - Risers
NetApp Inc. (NTAP) $30.01 +10.65%
GameStop Corp (NYSE: GME - news) . (GME) $24.70 +5.20%
Helmerich & Payne Inc. (HP) $47.94 +4.07%
Viacom Inc (NYSE: VIA-B - news) . Class B (VIAB) $49.90 +3.98%
R.R. Donnelley & Sons Co. (RRD) $9.32 +3.79%
Cameron International Corp (NYSE: CAM - news) . (CAM (Xetra: A0Q673 - news) ) $52.65 +3.63%
Washington Post Co. (WPO) $345.39 +3.10%
Lexmark International Inc. (LXK) $22.73 +2.76%
Jabil Circuit Inc (NYSE: JBL - news) . (JBL) $17.61 +2.56%
TripAdvisor Inc. (TRIP) $36.51 +2.44%

S&P 500 - Fallers
Ross Stores Inc. (ROST) $52.45 -4.87%
Wal-Mart Stores Inc. (WMT) $68.06 -4.55%
Discover Financial Services (NYSE: DFS - news) (DFS) $38.24 -4.35%
Limited Brands Inc (NYSE: LTD - news) . (LTD) $45.25 -2.90%
Urban Outfitters Inc. (URBN) $35.19 -2.82%
Monster Beverage Corp (MNST) $43.50 -2.77%
Teradata Corp. (TDC (Copenhagen: TDC.CO - news) ) $62.10 -2.63%
LSI Corporation (NYSE: LSI - news) (LSI) $6.40 -2.44%
PulteGroup Inc (Munich: 90044.MU - news) . (PHM) $14.86 -2.43%
Masco Corp (Dusseldorf: 950004.DU - news) . (MAS) $14.56 -2.22%

Dow Jones I.A - Risers
Cisco Systems Inc (Hanover: 918546.HA - news) . (CSCO) $17.86 +1.13%
Intel Corp (NasdaqGS: INTC - news) . (INTC) $20.17 +1.03%
Bank of America Corp (NYSE: IKJ - news) . (BAC) $9.07 +0.89%
Caterpillar Inc (NYSE: CAT - news) . (CAT) $81.68 +0.72%
General Electric Co. (GE) $20.13 +0.62%
Boeing Co (NYSE: BA - news) . (BA) $71.70 +0.58%
United Technologies Corp. (UTX) $75.00 +0.47%
Travelers Company Inc. (TRV) $68.34 +0.40%
JP Morgan Chase & Co. (JPM) $39.43 +0.36%
Chevron Corp (NYSE: CVX - news) . (CVX) $102.78 +0.27%

Dow Jones I.A - Fallers
Wal-Mart Stores Inc. (WMT) $68.06 -4.55%
American Express Co. (AXP) $53.11 -1.01%
AT&T Inc. (T) $33.44 -1.01%
Procter & Gamble Co. (PG) $65.96 -0.86%
Merck (Xetra: 10683053.DE - news) & Co. Inc. (MRK) $42.71 -0.80%
McDonald's Corp. (MCD) $84.07 -0.65%
Mondelez International Inc. (MDLZ) $25.01 -0.54%
Johnson & Johnson (NYSE: JNJ - news) (JNJ) $68.94 -0.48%
Pfizer Inc. (PFE) $23.70 -0.46%
Alcoa Inc (NYSE: AA - news) . (AA) $8.10 -0.37%

Nasdaq 100 (Nasdaq: ^NDX - news) - Risers
NetApp Inc. (NTAP) $30.01 +10.65%
Viacom Inc. Class B (VIAB) $49.90 +3.98%
DIRECTV (DTV) $49.35 +2.30%
Staples Inc (NasdaqGS: SPLS - news) . (SPLS) $11.81 +2.25%
Research in Motion Ltd. (RIMM) $8.68 +2.24%
Marvell Technology Group Ltd. (MRVL) $7.52 +2.17%
Apollo Group Inc. (APOL) $19.58 +2.14%
Dollar Tree Stores Inc. (DLTR) $38.51 +2.00%
Randgold Resources Ltd. Ads (MCX: APDS.ME - news) (GOLD) $102.67 +1.71%
Yahoo (EUREX: YHOF.EX - news) ! Inc. (YHOO) $18.10 +1.54%

Nasdaq 100 - Fallers
Ross Stores Inc. (ROST) $52.45 -4.87%
Vertex Pharmaceuticals Inc (NasdaqGS: VRTX - news) . (VRTX) $40.38 -4.21%
Monster Beverage Corp (MNST) $43.50 -2.77%
Alexion Pharmaceuticals Inc (NasdaqGS: ALXN - news) . (ALXN) $87.47 -2.20%
Altera Corp (Xetra: 875650 - news) . (ALTR) $30.15 -2.01%
Sirius Satellite Radio Inc (NasdaqGS: SIRI - news) . (SIRI) $2.65 -1.67%
Apple Inc (NasdaqGS: AAPL - news) . (AAPL) $528.40 -1.58%
Gilead Sciences Inc. (GILD) $71.20 -1.51%
Micron Technology Inc (Dusseldorf: 951691.DU - news) . (MU) $5.48 -1.35%
Avago Technologies Ltd. (AVGO) $32.59 -1.33%

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