Mini s&p 500 futures news

s&p 500 futures rise

April 19th, 2013

S&P 500 Futures -  Most U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding from a six-week low, as companies from Capital One Financial Corp. to Google Inc. (GOOG) reported earnings that topped analysts’ forecasts.

Google and Microsoft Corp. gained at least 3.1 percent. Capital One rallied 6.2 percent as income from continuing operations exceeded estimates. International Business Machines Corp., the biggest computer-services provider, tumbled 8.3 percent after quarterly profit missed projections for the first time since 2005. McDonald’s Corp. slumped 2.1 percent as it said soft global demand has continued this month.

The S&P 500 advanced 0.7 percent to 1,551.82 at 1:53 p.m. in New York. The index yesterday lost 0.7 percent to the lowest level since March 6, as corporate earnings and economic data missed estimates. The Dow Jones Industrial Average dropped 21.58 points, or 0.2 percent, to 14,515.56 today. Trading in S&P 500 stocks was 23 percent higher than the 30-day average at this time of day.

“Earnings are going to continue to come in better than most people think,” Jeffrey Saut, who helps oversee about $420 billion as chief investment strategist at Raymond James & Associates in St. Petersburg, Florida, said in a phone interview. “Companies have pretty much guided down and expectations are pretty low in terms of upside surprises.”

S&P 500 Futures: Moving Average

The S&P 500 fell below its 50-day moving average yesterday for the first time this year. That level, currently at around 1,544, is watched by some analysts to gauge the trend of the market.

The benchmark gauge for U.S. equities has fallen 2.6 percent from a record close on April 11, spurring concern over what UBS AG strategist Jonathan Golub called a “spring break” in equities. Stocks began short-term declines in April of each of the last three years. Still, the benchmark measure has surged 130 percent from a 12-year low in 2009 as the Federal Reserve embarked on three rounds of bond purchases to stimulate the economy.

Thirteen S&P 500 companies including General Electric Co. posted quarterly earnings today. Of the 103 that have reported so far, 72 percent have exceeded analysts’ predictions, data compiled by Bloomberg show. Profits at S&P 500 companies dropped 1.1 percent in the first three months of the year, according to forecasts compiled by Bloomberg. That would mark the first year- over-year decrease since 2009.

S&P 500 Futures: Google’s Gain

Google rose 3.3 percent to $790.84 after the owner of the world’s most popular search engine posted first-quarter profit, excluding some items, of $11.58 a share, surpassing the average analyst forecast of $10.68 a share.

Microsoft climbed 3.1 percent to $29.70 as the world’s largest software maker said late yesterday third-quarter net income rose 19 percent to $6.06 billion, or 72 cents a share. That beat the 68 cent-average projection of analysts in a Bloomberg survey.

Consumer-staples shares, phone companies and financial firms rose more than 1.2 percent.

Capital One gained 6.2 percent to $56.08 for the biggest gain in the KBW Bank Index (BKX), which increased 1.4 percent. The eighth-largest U.S. lender by assets reported a first-quarter profit that beat analysts’ estimates as lending margins improved.

SunTrust Banks Inc. (STI) increased 3.2 percent to $28.21 for the second-biggest gain in the banking benchmark after earnings exceeded projections.

Investors bought shares of corporations most tied to economic growth today. The Morgan Stanley Cyclical Index (CYC) of 30 U.S. equities and the 20-stock Dow Jones Transportation Index rallied at least 1 percent.

S&P 500 Futures: Honeywell Earnings

Honeywell International Ltd. increased 3.7 percent to $74.09 after the maker of cockpit controls and thermostats reported first-quarter net income of $966 million, or $1.21 a share, compared with the $1.14 estimated by analysts in a Bloomberg survey.

PepsiCo Inc. climbed 1.6 percent to $82.54 and foodmaker Mondelez International Inc. jumped 4.9 percent to $31.56. PepsiCo said it held meetings with billionaire Nelson Peltz’s Trian Fund Management LP as the investor disclosed a $269 million stake and also revealed a holding in Mondelez.

Peltz could push for a merger of the companies, the Daily Telegraph of London reported last month, citing unidentified people.

Kimberly-Clark Corp. (KMB) rose 4.4 percent to $105.82 for the biggest gain since October 2009 after the maker of Kleenex tissues and Huggies diapers boosted its annual earnings forecast amid sales growth in its North American tissues unit.

S&P 500 Futures: Mexican Food

Chipotle Mexican Grill Inc. (CMG) soared 9.9 percent to $360.85 for the biggest gain in the S&P 500. The Denver-based fast- casual dining chain reported first-quarter sales that topped analysts’ estimates, helped by an acceleration of store openings.

IBM dropped 8.3 percent to $190.05 after reporting first- quarter profit, excluding some items, of $3 a share. That missed the $3.05 predicted by analysts in a Bloomberg survey. IBM, which accounts for 10 percent of the price-weighted Dow average, took 131 points off the 30-stock gauge today.

McDonald’s slumped 2.1 percent to $99.76. The world’s largest restaurant chain by sales posted first-quarter profit that was little changed as same-store sales dropped in the U.S. and said soft global demand has continued this month.

General Electric lost 3.9 percent to $21.79 after posting first-quarter profit that matched analysts’ estimates as lower sales in the Power & Water business curbed manufacturing growth.

“Europe was weaker than we expected, and in particular the power and water and oil and gas businesses were very soft,” Nick Heymann, an analyst at William Blair & Co. who has a market-perform rating on the stock, said in a telephone interview.

- Nikolaj Gammeltoft in New York and Lu Wang in New York at Bloomberg.