Federal Open Market Committee: Will These Numbers be Enough?
The Federal Open Market Committee meets on Tuesday and Wednesday this week. It will be the last FOMC meeting before we start worrying about rate hikes.
Google announced its 1Q15 earnings on April 23 after the close of trading. Investors had been expecting currency issues to take an even bigger toll on Google earnings.
Sector ETF Analysis
Natural gas futures for May delivery settled unchanged at $2.53 per MMBtu on April 24, 2015. The EIA released the natural gas weekly report on April 23.
Nucor reported its 1Q15 earnings on April 23. It posted EPS of $0.21, higher than Nucor’s own guidance. Wall Street was jubilant, sending Nucor shares up more than 2%.
eBay (EBAY) announced better-than-expected 1Q15 earnings last week. The company’s overall revenues increased by 4% to $4.45 billion year-over-year.
Brinker International (EAT) released its third-quarter earnings on April 21. Brinker reported an adjusted EPS of $0.93, a 12% increase from $0.83 in 3Q14.
April has been a mixed bag for the aluminum industry. End user demand continues to be strong, at least in Alcoa’s core markets of North America and Europe.
PulteGroup’s (PHM) first quarter revenues of $1.13 billion missed Wall Street’s estimate of $1.25 billion. Homebuilding revenues were flat with a year ago, while land sales and financial services revenues increased.
Regions Financial (RF) reported its first quarter earnings on April 21. While the revenue for the quarter increased by 1% YoY, the net income declined 26%.
Johnson & Johnson (JNJ) posted its 1Q15 earnings on April 14. It beat Wall Street EPS estimates of $1.53 marginally, posting $1.56 EPS.
Macro ETF Analysis
The tech-heavy NASDAQ-tracking PowerShares QQQ Trust ETF (QQQ) was up 1.36%, while SPY gained 0.23%.
Treasury yields rose after Federal Reserve Bank of New York president William Dudley expressed optimism over US economic growth. This should lead to a 2015 rate hike.
WTI crude oil trading in NYMEX for June delivery declined marginally by 0.28% and closed at $56.99 per barrel on Monday, April 27, 2015.
Income ETF Analysis
February home prices grew 0.7% month-over-month, up 5.4% year-over-year. Prices are now within 2.9% of their April 2007 peak.
Cheniere Energy Partners (CQP) is scheduled to release its earnings for 1Q2015 on April 29. Its stock closed at $31.93 as of April 22.