Analysis Upgrades for May 3, 2012
Before the bell analysis upgrades:
Curve Ahead Market Strategies
Lower Eurozone Producer Prices Fail to Stimulate Euro Volatility
THE TAKEAWAY: PPI numbers come in lower than expected -> high energy prices continue to affect producers -> Euro trades within tight range Producer price inflation in the 17-nation Eurozone increased less than expected in March, representing the sixth consecutive monthly drop in the gauge. The month-on-month number came in at 0.6% vs. the 0.5% predicted by economists, while the yearly number was 3.3% versus the expected 3.4%. The numbers
Breaking News – From the ECB’s Draghi
ECB’s Draghi:
Breaking News – Labor Department Weekly Release
Labor Department Weekly Release out – are they forecasting the Friday’s Non-Farm Payroll release?
Breaking News – ADP Numbers Out
Payrolls processor Automatic Data Processing says private-sector jobs
A Deeper Look Into the ISM Manufacturing Report
The ISM Manufacturing Index climbed in April to a level of 54.8 from 53.4 March, beating analysis expectations. In fact expectations were for decline to 53.0 levels. While the Price Paid Index held at 61.0 for the month.
Breaking News
Breaking news at the open.
Economic Data On Deck
Today economic data releases are relativity light today. Release schedule for today are as follow:
Aussie Sold Aggressively Post Shocking RBA Rate Decision; Euro Still Bid
– RBA shocks markets and cuts by 50bps to 3.75% – Decision surprising given RBA track record – Aussie sold aggressively across the board in response – UK manufacturing PMIs disappoint; weighs on Pound
Before The Market
Futures Ahead of the Open S&P fair value: +0.20 NASDAQ fair value: +1.00 Europe volume will be limited with May Day holiday, however, the UK’s FTSE will be open for trading. Currently up 0.39%. UK Manufacturing PMI fell to 50.5 on a downwardly revised 51.9 for the prior month.
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