{"id":247138,"date":"2010-01-29T09:29:00","date_gmt":"2010-01-29T14:29:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:388414"},"modified":"2010-01-29T09:29:00","modified_gmt":"2010-01-29T14:29:00","slug":"bernanke-gdp-earnings-oil-services-auto-sales-%e2%80%93-vialoux","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/247138","title":{"rendered":"Bernanke, GDP, earnings, oil services, auto sales \u2013 Vialoux"},"content":{"rendered":"<p>U.S. equity index futures are higher this morning. S&amp;P 500 Index futures are up 8 points in pre-opening trade. Equity markets responded to the reappointment of Ben Bernanke to Federal Reserve Chairman. <\/p>\n<p>Index futures added to gains following release of real annualized U.S. fourth quarter Gross Domestic Product. Consensus was a gain of 4.7% versus 2.2% in the third quarter. Actual was a gain of 5.7%. <\/p>\n<p>Canada also reported higher than expected GDP growth. Canada\u2019s GDP rose 0.4% in November. Consensus was a gain of 0.3%. <\/p>\n<p>The parade of higher than expected fourth quarter earnings results continues. Companies reporting higher than consensus earnings included Microsoft, Amazon, Honeywell, Mattel and Canadian Oil Sands. <\/p>\n<p>\u2018Tis the season for oil service stocks to move higher! This morning Capital One upgraded Cameron International and National Oilwell Varco from Neutral to Add. Both stocks traded higher.<\/p>\n<p>Walmart added 3% after Goldman Sachs upgraded the stock from Neutral to Buy. <\/p>\n<p>Methanex added 1% after BMO Capital upgraded the stock from Market Perform to Outperform. Target price was raised from $26 to $28. <\/p>\n<p>Chevron reported lower than expected fourth quarter earnings. Consensus was $1.66 versus $2.44 per share last year. Actual was $1.53. The main reason for the miss was a $613 million loss from its marketing and refining operations. Gasoline prices in the U.S. will need to increase this spring in order to allow major U.S. refiners to at least break even. <\/p>\n<p>World auto sales rose 22% in December on a year-over-year basis. That\u2019s good news for companies that provide components and materials for the auto industry. Platinum used in catalytic converters looks particularly interesting.&nbsp; <\/p>\n<p><i>Don Vialoux, chartered market technician, is the author of a free<br \/>\ndaily report on equity markets, sectors, commodities, equities and<br \/>\nExchange-Traded Funds. For more visit <a href=\"http:\/\/www.timingthemarket.ca\/techtalk\/\" >Don Vialoux&#39;s Web site <\/a><\/i><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/np\/aggbug.aspx?PostID=388414\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. equity index futures are higher this morning. S&amp;P 500 Index futures are up 8 points in pre-opening trade. Equity markets responded to the reappointment of Ben Bernanke to Federal Reserve Chairman. Index futures added to gains following release of real annualized U.S. fourth quarter Gross Domestic Product. Consensus was a gain of 4.7% versus [&hellip;]<\/p>\n","protected":false},"author":4059,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-247138","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/247138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4059"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=247138"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/247138\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=247138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=247138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=247138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}