Chillin' out till it needs to be funded
An expected miss from an honestly deflated Wall Street and no exceptional reports except the hope for Windows 8 from Microsoft while Google carries on in online advertising, is hardly the recipe for a perfect day. However evenif this is not really negative growing worries about the Exissting housing recovery with existing home sales falling thru the crisis till last month to a 4.6M annual rate is a receipe for unnatural disasters with the yields still ruling at 1.45% Friday would not have any data to report thankfully as an incipient rally in the Euro sets up the Do for a further run from a buoyant 12,800 mark it stayed above yesterday in a string of financials that surprised since JP Morgan on Friday and from Coke. Netflix reports next week with Apple and is unlikely to be treated as second fiddle even to Apple
Google is likely to continue on to record earnings despite losing almost every battle to Apple or even Microsoft and in Europe with $12.5B in acquisition costs for Motorola mobility hardly scratching the steam on the Googleplex.
Paul Otellini’s Intel reported lower expectations for the full year but continues to score on innovation and market share with the Ivy Bridge and Xeon Phi for the HPC segments and trying valiantly in Mobile and Tablet architectures A $13B revenue for the Quarter and a 63% Gross Margin with a 64% guidance for the full year on new products is an amazing feat and the markets rewarded the same
The Eurozone Current Account surplus has doubled in the meantime to $10.9B and as expected Italy beat all estimates with a 1.7% growth on new orders from May alone. Also as expected, Spanish 7 year yields were almost hit out of the park without investors as yields on the 3,5 and 7 yr auctions jumped 7% to 33% and France could not crawl to negative yields of safe haven in their 3-5 year bond auctions(BTANs)
The US jobless claims though deceptively will help those looking for a good start for the morning and it is .. 386k unfortunately
BTW, Intel also relies on sales in Emerging Markets and this part of the Morning report is all from our Tech Gospel at Advantages.us