Wholesale Prices Rose In May

MTnews

Banned for advertising in Community Forums
Messages
134
Daily Market Commentary for June 14, 2011

Labor Department reported that U.S. wholesale prices rose during month of May at the slowest pace seen in 10 months as the cost of food fell and energy prices moderated.
(read more at Millennium-Traders.Com)
News and Daily Market Commentary | Traders Commentary | Financial Market Commentary

Markets opened to the upside today, beginning in the pre-market trading session. The DOW was hosting triple digit gains during the session. The agreement includes both firms withdrawing their complaints to the U.S. International Trade Commission. The deal consists of “a one-time payment payable by Apple and ongoing royalties to be paid by Apple to Nokia for the term of the agreement,” Nokia said.

Nokia (NYSE: NOK) reported that they agreed to settle all patent litigation with Apple (NasdaqGS: AAPL) a move that’s expected to have a positive impact on the Finnish firm’s recently lowered Q2 outlook. NOK shares were higher by 3% and AAPL shares were higher by 1% into afternoon trading session.

Caseys General Stores (NasdaqGS: CASY) shares were higher by 5% after reporting Q4 topped estimates.

GT Solar International (NasdaqGS: SOLR) shares were higher by 6% after raising its outlook for fiscal Q1.

Best Buy (NYSE: BBY) shares were higher by 4% after reporting Q1 profit and sales that exceeded street expectations.

SIGA Technologies (NasdaqGM: SIGA) shares were lower by 9%, amidst heavy trading volume, after the report that Congress plans to investigate a government contract awarded the bio-defense company.


Economic data released today:

Retail Sales: April Retail & Food Sales Revised to +0.3% from +0.5%; U.S. May Retail & Food Sales Excluding-Autos +0.3%; U.S. May Passenger Car Prices +0.5%; U.S. May Retail & Food Sales -0.2%; Consensus -0.6%.

PPI [Producer Price Index]: U.S. April PPI Unrevised at +0.8%; U.S. May PPI Crude Goods -4.1%; U.S. May PPI Core Crude Goods -0.9%; U.S. May PPI Energy Prices +1.5%; U.S. May PPI Intermediate Goods +0.9%; U.S. May PPI Core Intermediate Goods +0.9%; U.S. May PPI Excluding Food & Energy +0.2% vs. Consensus +0.2%; U.S. May Producer Prices +0.2% vs. Consensus +0.1%.

Business Inventories: U.S. April Business Inventories +0.8% vs. Expected +0.9%.


Viewers may opt-in to our free Weekly Market News sent via email on the first trading day of the week. Review market news and active stocks from the previous week plus, see what is ahead for the upcoming trading week.

Detailed performance for stocks, futures or forex by date on our News & Commentary. Access our FREE Monthly Trading Lesson posted on our website.

Access a one week trial to our Weekly Swing Trades service. View detailed historic performance from our News & Commentary page.

Follow us now on Twitter

Viewers Poll: Could the DOW be headed for a drop below 11,000?

Thanks for reading
Millennium-Traders.Com
Online Day Trading | Futures Day Trading | Forex Day Trading | Stocks Day Trading
 
Back
Top