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Financial Breakfast: Morning News Summary for March 29, 2012

Courtesy of Benzinga.

Thursday, March 29, 2012

This is your Benzinga news summary and trader’s outlook covering headlines from overnight and today’s pre-market session.

Benzinga’s Top News

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade lower about 35 points.
  • U.S. Dollar trades about 0.15% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain’s FTSE 100 fell 0.85%, Germany’s DAX slid 1.17% and France’s CAC 40 dropped 1.08% on the session.
  • Asian stocks ended the session lower as well. China’s Shanghai slid 1.43%, Japan’s Nikkei 225 fell 0.67%, and Hong Kong’s Hang Seng dropped 1.32%.
To see more overseas news, click here.

Upgrades/Downgrades

  • Citigroup Upgrades Delphi Automotive (NASDAQ: DLPH) from Neutral to Buy, Raises PT from $25 to $36
  • Credit Suisse Upgrades Delek US Holdings (NYSE: DK) from Neutral to Outperform, Raises PT from $18.5 to $20.5
To see more of today’s upgrades, click here.

  • Credit Suisse Downgrades HollyFrontier (NYSE: HFC) from Outperform to Neutral, Lowers PT from $41 to $40
  • Auriga Downgrades Allscripts-Misys Healthcare Solution (NASDAQ: MDRX) from Buy to Hold, Lowers PT from $25 to $19
To see more of today’s downgrades, click here.

On the Economic Calendar

  • 08:30 a.m. ET – GDP (QoQ)
  • 08:30 – Continuing Jobless Claims
  • 08:30 – Initial Jobless Claims
  • 09:00 – 7-Year Note Auction
  • 10:30 – Natural Gas Storage
  • 11:00 – KC Fed Manufacturing
  • 12:45 – Fed Chairman Bernanke Speaks
To see more economic news, click here

Earnings

  • SORL Auto Parts (NASDAQ: SORL) Reports Q4 EPS $0.17 vs $0.21 Est; Revenues
    $56.1M vs $54.48M Est
To see more earnings announcements, click here.

Corporate News

To see more corporate news, click here.

Commodities

  • Precious metals are trading lower, with gold posting early losses of about 0.12%
  • Energy futures are trading lower, with crude oil posting early losses of about 0.60%
  • Natural Gas futures are lower by about 0.79% and copper is trading lower by about 0.53%
To see more commodities news, click here.

Benzinga’s Morning Radar

Technical Levels for Futures and Forex

Name Resistance-2 Resistance-1 Mid Pivot Support-1 Support-2
E-Mini S&P 500 1421 1410 1401 1390 1381
Gold 1700 1681 1669 1650 1638
Crude 107.78 106.67 105.67 104.56 103.56
Natural Gas 2.38 2.32 2.25 2.19 2.12
EUR/USD 1.3417 1.3366 1.3321 1.3270 1.3225
US Dollar Index 79.76 79.54 79.29 79.07 78.83

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