The KUIK Morning Market Report for Monday, January 25:
Markets are down.
Index Direction Change Units Time
Dow Down (41) points 16,053 7:05 AM
S&P500 Down -0.3% percent 1,902
Nasdaq Composite Down -0.1% percent 4,588
30 Year Treasury Down (3) Basis Points 2.79 Annual Yield
Intel was upgraded today by Macquarie Research analyst Deepon Nag. He said the fact that the chip maker undershipped in 2015 means it should benefit from restocking in 2016. He raised his rating to outperform from neutral, while keeping the price target at $35, which is 17% above Friday’s closing price of $29.93. Nag wrote in a note to clients that his research suggests Intel has been undershipping end-demand for all of 2015, “which we believe adds potential upside to estimates as the PC supply chain replenishes processor inventories.” and the stock has an attractive dividend yield.
Oil futures slid today, reversing a rally at the end of last week as investors focused on crude’s bearish fundamentals. Crude prices have fallen for nearly two years as global oil supply have grown at a faster pace than demand. The return of Iranian oil to the market is expected to make supply worse. March crude is off 3.2% to $31.15 a barrel on the New York Merc.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/intel-upgraded-as-analyst-sees-a-bounce-back-this-year-as-clients-restock-2016-01-25
http://www.marketwatch.com/story/crude-prices-continue-to-gain-on-hopes-for-stimulus-from-europe-2016-01-25
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