Thursday, February 18, 2010

February 18, 2010 Americas Equity Morning Summary


Companies Featured
ADBE.O, ADI.N, AMAT.O, AMTD.O, AUXL.O, BVN.N, CX.N, DE.N,
ECHO.O, GPC.N, GUID.O, HPQ.N, LIFE.O, NFX.N, NTAP.O, NVDA.O,
PFCB.O, PVH.N, RENA.PA, SRE.N, WAG.N, WSO.N, XEC.N

February 18, 2010 Americas Equity Morning Summary

Economics Calendar

02/18: Producer Price Index/ Core (January), forecast: +0.8 % / +0.1%
02/18: Leading Indicators (January), forecast: +0.3 %
02/19: Consumer Price Index/ Core (January), forecast: +0.3 % / +0.1%
Already Reported –

A solid gain in consumer spending in January as expected, with overall sales up 0.5% and ex autos 0.6%, and minor upward revisions to prior months. With solid gains in various discretionary categories, the key retail control grouping (sales ex auto dealers, building materials stores, and gas stations) surged 0.8%, in line with the strong results from last week's chain store sales reports and matching our forecast. We continue to see Q1 consumption rising 2.5% and GDP 2.8%.

Housing Starts (December)

Mildly stronger-than-expected report. Starts posted a modest gain in January and December was revised higher. Relative to our ownexpectation, the bulk of the upside surprise was in the volatile multi-family category.

FULL REPORT HERE
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