morning review - 092010

8/8/2019 Morning Review - 092010

1/11


2/11


3/11


4/11


5/11

5

Nicholas Colas (Chief Market Strategist): 212 448 6095 or [email protected] Clark: 212 448 6085 or [email protected]

Beth Reed: 212 448 6096 or [email protected]

10) Upcoming U.S. elections. Well close out this list on a note of optimism. The entire House of Representatives and 37 Senate seats are up for grabs in a few weeks. Ifthe primaries are any guide, there will be a lot of fireworks on Election Day 2010. No doubt the market is waiting to see the outcome of this event. Gridlock by dint of aRepublican win in the House will almost certainly bring some change to Washington. Markets, like those CEOs we mentioned, like certainty even if certainty meansnothing done. And that could be enough to begin the thawing of corporate confidence and a more normal playbook for economic recovery.


6/11

Nicholas

U.S. EQU

Shares oday, as it3.1%) bostocks al

ImportanUBS Global

Importan

Prior Day

DFS: $0 LEN: $0Source: Blo

Colas (Chief Market StrChrist

Be

ITIES

ORCL soared 8.posted better-t

th down more to faltered as Je

t Conferences/CLife Sciences Confe

t Earnings Today

SPX (High 1131.74;

.35

.06mberg

ategist): 212 448 6095ine Clark: 212 448 608th Reed: 212 448 609

% after the cohan-expected ean 2%, after U.feries initiated

rporate Meetinrence New York,

(with Estimates

Low 1122.43; Clos

or ncolas@convergex5 or cclark@convergex

or breed@convergex

pany reportedrnings and rais. regulators agroverage on the

s Today:Y

) From

1126.11):

.com

.com

.com

profit that jumpd its outlook fo

eed to a propossector with a c

d 38%, easily tthe current qul that would re

autious view o

Three Da

S&P Fut

One Day

pping analystsrter. Shares ofuire companies

f near-term fund

y (High 1127.00; Lo

ures

High 1132.75; Low

estimates. RIMmany financialsto disclose moramentals.

w 1109.00):

1117.00):

M (+0.5%) wasslid, with JPM (-e about their de

Sourc

lso up on the.3%) and BCS (

bt. Restaurant

e: Thomson ONE6


7/11

7

Nicholas Colas (Chief Market Strategist): 212 448 6095 or [email protected] Clark: 212 448 6085 or [email protected]

Beth Reed: 212 448 6096 or [email protected]

FIXED INCOME

Source: Bloomberg

Todays Important Economic Indicators/Events (with Consensus):NAHB Housing Market Index

Source: Bloomberg

Last week Treasuries rose for the first time in 4 weeks, as investors speculated the Fed will be more accommodative in its policy statement this week,after more signs the economic recovery may be in trouble. The benchmark 10-year note yield fell 5 bps on the week to 2.74%, while 2-year yieldsdropped the most in 4 months and were within 1 bp of the record low of 0.45% after the central bank purchased shorter-maturity debt.


8/11


9/11


10/11


11/11

morning review - 092010

Documents