November 29, 2012 Update

DJIA:12,985 NASDAQ:2,991 10-YR TRS: 8/32, yield 1.616% Oil: $86.49 EURO: $1.2953 YEN:82.08 

Micro

• SPZ:  trading up portraying investor confidence that lawmakers will solve fiscal cliff and optimistic regarding the weekly jobless claims, GDP, and pending home sales data.
• Earnings: Tiffany & Co. (NYSE: TIF) expects Q3 EPS of $0.62, Kroger (NYSE: KR) forecast Q3 EPS $0.44, Barnes & Noble (NYSE: BKS) forecast Q2 EPS loss of $0.04
• ExxonMobil (NYSE: XOM) plan of constructing twenty new oil and gas projects in an effort to reverse declining output is leaving analysts skeptical as to whether project open in time by 2014.
• Dell (NASDAQ:DELL) is rumored, along with Intel (NASDAQ: INTC) and Qualcomm (NASDAQ: QCOM), to be involved in an investment plan in Sharp who is looking to raise $240M from both Intel and Qualcomm.
• Wells Fargo (NYSE: WFC) breathes easy as SEC drops investigation as to whether or not WFC supposedly mislead investors into purchasing mortgage bonds. 

Macro

• Asian Markets: perform well from fiscal cliff optimism 
• European Markets: markets ripping from overjoy regarding confidence in fiscal cliff
• November’s Eurozone economic sentiment rises 1.4 points to 85.7 unexpectedly, breaking 8 month loosing streak.
• Weekly jobless claims due at 8:30am, forecast to drop by 20,000 claim to 390,000 for the week ending on November 24th. 
• Q3 GDP will be released at 8:30am, economists expect a 2.8% increase from July to September.
• January’s oil futures rose $0.83, roughly 1%, to $87.32 per barrel. 
• December’s gold delivery increase by $7 to $1,723.50 an ounce. 

Yesterday’s Biggest Winners

• Green Mountain Coffee Roasters (NASDAQ: GMRC) +27.23% (+$7.91) to $36.86 from a 22% profit jump and improved 2013 fiscal outlook. 
• Costco Wholesale (NASDAQ: COST) +6.29% (+$6.07) to $102.58 based on report of strong sales and plan of special dividend payout. 
• Express (NYSE: EXPR) +8.93% (+$1.16) to $14.15 on account of exceptional Black Friday sales.

Yesterday’s Biggest Losers

• Fresh Market (NYSE: TFM) -12.38% (-$7.46) to $52.78 based on poor earnings report and resignation of CEO. 
• Jos. A. Bank (NASDAQ: JOSB) -7.25% (-$3.43) to $43.85 from a decline in Q3 profits. 
• Principle Financial Group (NYSE: PFG) -1.9% (-$0.52) to $26.8 since the announcement of the expectation of larger operating loss in 2013. 

Batman’s Day Off

Imagine New York City without a single person being stabbed, shot, or assaulted. This utopian dream became reality for the eight million people crammed throughout New York’s five boroughs on Monday, November 26th. For the first time in recorded history, the city functioned peacefully without the influence of police force. As 2013 nears, 2012 is expected to have the lowest murder rate in New York since 1960; down 23% from 2011! New policies, such as stop and frisk policy, is believed to have helped curbed criminal behavior, attributing to this rare tranquil occurrence. However, I think it is unfair not to credit New Yorkers for their harmonious benevolent behavior. Headline news is infamous for the awful narratives they usually tell. Monday’s story assures us that humanity can exist peacefully and interact in a respectful manner. While many have lost faith in mankind, the narrative and collective memory from November 26th provides evidence that peace is attainable and an unanimous sense of morality, in some form, still exists.