January 12th

Daily Market Commentary





  • Gold rose to a one-month high on speculation that the Federal Reserve will go slow in raising interest rates to safeguard the economic expansion. Silver and platinum advanced.
  • Copper in London held losses near the weakest in more than five years on speculation demand growth may falter amid signs of uneven economic growth in the U.S., Germany and China, the largest metals consumers.
  • Goldman Sachs said U.S. oil prices need to trade near $40 a barrel in the first half of this year to curb shale investments as it gave up on OPEC cutting output to balance the market.


  • Canadian Natural Resources Limited Announces the Use of Capital Flexibility in Its 2015 Budget.
  • Tougher tank cars are needed to reduce the risk of an oil spill if a train carrying crude derails, the chairman of BNSF Railway Co. said.
  • Bombardier said its chief commercial-aircraft salesman has left the company, a blow to efforts to gain market traction with its new CSeries jetliner.
  • High Liner Foods said it will cease production at a leased Massachusetts manufacturing plant to reduce capacity across its U.S. facilities and cut costs. The closure of the plant, which employs 50 full-time workers, will result in a charge of about $800,000 to write down equipment.

United States

  • U.S. stock-index futures rose amid takeover activity, after the Standard & Poor’s 500 Index posted its first back-to-back weekly retreat since October.
  • AmerisourceBergen Corp., a U.S. drug distributor, agreed to buy MWI Veterinary Supply Inc. for $2.5 billion to add fast-growing animal-health supplies.
  • IBM captured the top spot in annual U.S. patents granted for the 22nd straight year. The question remains: can the perennial leader translate those inventions into revenue?
  • American Airlines Group Inc. shares fell after it said fourth-quarter unit revenue will be less than an already lowered forecast as traffic declined in some international markets.



  • A rise in health-care companies and Greek equities pushed European stocks higher following their longest weekly losing streak since October.
  • Volkswagen AG is showing off a sporty crossover at the Detroit auto show this week that could fill a notable hole in its lineup and help lift its flagging U.S. deliveries. Too bad it’s not for sale.
  • The European Central Bank’s public debate over buying government bonds is reaching a climax. After weeks of argument about quantitative easing in speeches and interviews, officials have just a few days left before a conventional quiet period starts ahead of their Jan. 22 policy meeting.
  • Shire Plc will continue buying companies after forging its biggest takeover, a $5.2 billion purchase of NPS Pharmaceuticals Inc. to add treatments for rare diseases.
  • China’s vehicle sales are forecast to expand 7% this year, half the pace achieved in 2013, as the economy cools in the world’s largest car market.
  • China’s stocks fell for a third day, the longest losing streak since November, amid concern a rally for the world’s best-performing equities market over the past year has been excessive relative to the outlook for the economy.

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