struggled for direction on Thursday as investors cautiously tried to extend the
new year rally. The S&P 500 (+0.1%) and the Nasdaq Composite (-0.1%)
drifted near their flat lines for much of the session, while the Dow Jones
Industrial Average (+0.5%) outperformed, closing at a new record high. The
S&P 500 also finished at a new record.
Futures are higher after hours: S&P 500 futures are +2.25 from fair value of 2840 and Nasdaq futures are +11.50 from fair value of 6927.
Notable companies reporting earnings after the close: BDN, NBHC, ASB, ETFC, FFIN, IBKC, ISRG, MRTN, MXIM, WAL, ABAX, QSII, AJG, DGII, EGHT, FHB, FII, FLEX, GSIT, HTH, INTC, ISBC, KLAC, LRN, MSTR, SBCF, SIVB, TMST, WDC, HTLD, DWCH, FICO, PKI, SBUX, MITK, MSCC, MATW.
Tomorrow morning, companies expected to report earnings include: GNTX, HON, APD, LEA, POL, NEE, ABBV, CL, COL, PFS, UBS, WRLD, HRC, MOG.A.
Economic data out tomorrow morning before the open: GDP-Adv. (Consensus 2.9%, vs 3.2% in the prior quarter), Chain Deflator-Adv. (Consensus 2.4%, vs 2.1% in the prior quarter), Durable Orders (Consensus 0.9%, vs 1.3% in the prior month), Durable Goods --ex transportation (Consensus 0.7%, vs -0.1% in the prior month), Adv. International Trade in Goods (Consensus -$68.5B, vs -$69.7B in the prior month), Adv. Wholesale Inventories (Consensus 0.3%, vs 0.7% in the prior month).
In the energy market, the EIA released its weekly natural gas storage data this morning...
Natural gas inventory showed a draw of 288 bcf vs a draw of 183 bcf in the prior week:
- Working gas in storage was 2,296 Bcf as of Friday, January 19, 2018, according to EIA estimates. This represents a net decrease of 288 Bcf from the previous week. Stocks were 519 Bcf less than last year at this time and 486 Bcf below the five-year average of 2,782 Bcf. At 2,296 Bcf, total working gas is below the five-year historical range. Feb natural settled $0.02 higher at $3.10/MMBtu.