April 28th, 2015

Daily Market Commentary



  • The Redbook Index, which measures same-store sales growth in U.S. general merchandisers, was up 0.2% and 1.4% in month-over-month and year-over-year terms, respectively.
  • The S&P/Case-Shiller Home Price Indices were up 5%, above estimates of 4.7%.
  • GDP Growth in the U.K. was reportedly up 2.4%, slightly below estimates of 2.6%.
  • BBA Mortgage Approvals were up 38.8K, slightly above estimates of 37.9K.


  • Oil declined for a third day before U.S. government data forecast to show crude stockpiles expanded further from a record.
  • Gold held the biggest gain in almost three months to trade near $1,200 an ounce before Federal Reserve policy makers begin a meeting on interest rates amid a mixed outlook for the U.S. economy.


  • Barrick Gold Corp., the world’s largest producer of the precious metal, reported profit and sales that trailed analysts’ estimates after output declined more than expected.
  • Brookfield Asset Management Inc., Canada’s largest alternative-asset manager, is considering investing more than 3.3 billion reais ($1.1-billion) in Brazil, with distressed assets accounting for about two-thirds of the total, according to two people with direct knowledge of the matter. (Globe)
  • Air Canada’s turnaround plan has won over analysts. The airline has yet to get investors back on board. The stock boasts the highest rating among North American airlines, according to data compiled by Bloomberg, and analysts are projecting a 48 percent rally in the next 12 months. That’s the best return among the 10 biggest carriers in the region.

United States

  • U.S. index futures retreated amid concern that better-than-expected earnings won’t be enough to trigger more gains.
  • Yahoo! Inc. is rolling out 18 new series in a digital video push, stepping up its efforts to woo marketers and consumers with premium content.
  • All eyes are on Apple this morning as the tech giant’s stock approaches its all-time high. Shares are rising about 1% pre-market, setting them up to possibly surpass the previous intraday trading record of $133.60. The iPhone maker reported its second-best quarter ever on Monday evening. (CNN).


  • European stocks slipped, after two days of gains, as health-care companies followed U.S. peers lower, and Commerzbank AG led a decline in lenders.
  • BP Plc reported first-quarter profit that was more than double analysts’ estimates as earnings from refining and trading offset lower crude prices.
  • Commerzbank AG, Germany’s second-largest lender, increased a key capital measure by raising 1.4 billion euros ($1.5 billion) from selling new shares after paying a fine in the U.S.
  • Daimler AG’s first-quarter operating profit surged 41 percent, beating analysts’ predictions, as demand for Mercedes-Benz models such as the C-Class sedan grew at a faster pace than sales at luxury-car industry rivals.
  • Orange SA, the French telecommunications carrier with networks from Belgium to Botswana, reported a decline in first-quarter sales and earnings as competition in its European markets continued to weigh on prices.
  • Asian shares outside Japan fell, with a gauge of regional equities retreating from a seven-year high, as energy shares led losses and companies slid on earnings concerns. Fanuc Corp. surged in Tokyo.
  • Toyota Motor Corp. plans to replace as much as 500 billion yen ($4.2 billion) of common equity with unlisted shares that have transfer restrictions, locking in longer-term funding as the carmaker develops new technology.
  • PetroChina Co. posted its lowest quarterly profit on record as weaker oil prices took their toll on earnings. The result missed some analysts’ estimates and its shares dropped.

*All information is taken from Bloomberg, unless otherwise noted.