CALDEIRÃO DE BOLSA

U.S. stocks seen flat after positive economic data

19/01/2005 14:14

(Adds economic data)

By Michael Flaherty

NEW YORK, Jan 19 (Reuters) - U.S. stock futures rose Wednesday, pointing to a flat market open, after a batch of economic reports eased inflationary worries, adding positive news to the market amid a slew of mixed earnings results.

JPMorgan Chase & Co., the No. 2 U.S. bank, said its fourth-quarter earnings fell, hurt by charges related to its merger with Bank One last year.

Dow component Pfizer Inc., the world's largest drug company, said fourth-quarter earnings rose, while Lucent Technologies Inc., among the world's largest makers of telecommunications equipment, reported a dip in profit, sending its shares lower before the bell.

S&P 500 futures were up nearly a point, about even with fair value accounting for interest rates, dividends and time to expiration on the contract.

Dow Jones industrial index futures rose 10 points, while Nasdaq 100 futures were up 3.5 points.

The futures had been lower throughout the morning before the economic data hit.

A series of economic data appeared to indicate an easing of inflationary pressures, which would set the tone for a less aggressive pace of interest rate hikes -- a boon to the stock the market.

"I think the drop in jobless claims is extremely encouraging as it seems to indicate that there seems to be a wave of hiring at the start of the new year," said Phil Flynn, senior market analyst at Alaron Trading Corp. "The housing data bounce back seems to indicate that the continued low interest rates and potential optimism about the job market has consumers feeling pretty optimistic as we move forward."

A sharp drop in energy prices pulled U.S. consumer prices down 0.1 percent last month, but underlying inflation continued a steady advance, according to a government report.

The number of Americans filing initial claims for jobless aid unexpectedly plunged 48,000 last week, the largest drop in more than three years, the government said.

And in yet another report, U.S. housing starts rose 10.9 percent last month, beating expectations and marking the biggest jump in more than seven years, as groundbreaking activity increased across the nation.

The Fed's "beige book" of regional business activity snapshots will be released at 2 p.m. (1900 GMT).

Oil prices steadied, dipping 43 cents to $47.95 in electronic trading, offering a bit of relief to investors having flirted with $50 a barrel in recent days. Rising oil prices raises concerns that higher energy costs will pinch corporate profits and curb consumer spending.

On Tuesday, the Dow Jones industrial average finished up 70.79 points, or 0.67 percent, at 10,628.79. The Standard & Poor's 500 Index rose 11.46 points, or 0.97 percent, to 1,195.98. The Nasdaq Composite Index was up 18.13 points, or 0.87 percent, at 2,106.04.

(Additional reporting by Doris Frankel in Chicago)

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Editing by Bernard Orr

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Construção de novas habitações nos EUA sobe 11% em Dezembro

19/01/2005 14:08 CN

Construção de novas habitações nos EUA sobe 11% em Dezembro
A construção de habitações novas nos Estados Unidos aumentaram 11% em Dezembro, no maior aumento de sete anos, anunciou hoje o Departamento do Comércio dos Estados Unidos.

A subida de Dezembro elevou o total de 2004 para 2,004 milhões de novas habitações construídas, tornando o ano de 2004 no melhor desde 1978. Os economistas aguardavam um valor de 1,905 milhões de unidades.

As ainda baixas taxa de juro e a subida nos rendimentos dos americanos explicam a melhoria no mercado imobiliário dos Estados Unidos.

8:30am 01/19/05 U.S. DEC. APPAREL PRICES FALL 0.4%
8:30am 01/19/05 U.S. DEC. TOBACCO PRICES UP 0.6%
8:30am 01/19/05 U.S. DEC. MEDICAL COSTS UP 0.3%
8:30am 01/19/05 U.S. DEC. HOUSING PRICES UP 0.2%
8:30am 01/19/05 U.S. DEC. ENERGY PRICES FALL 1.8%, GASOLINE DOWN 3.7%

8:30am 01/19/05 U.S. DEC. CPI BEATS EXPECTED FLAT READING
8:30am 01/19/05 U.S. 2004 CPI UP 3.3%; CORE CPI UP 2.2%
8:30am 01/19/05 U.S. DEC. CPI DOWN -0.1%; CORE CPI UP 0.2%

8:30am 01/19/05 U.S. 4-WEEK AVG JOBLESS CLAIMS FALL 3K TO 341,000
8:30am 01/19/05 U.S. JOBLESS CLAIMS DECLINE LARGEST IN 3 YEARS
8:30am 01/19/05 U.S. INITIAL JOBLESS CLAIMS FALL 48,000 TO 319,000

8:30am 01/19/05 U.S. DEC. HOUSING STARTS UP 10.9% TO 2 MLN UNITS



ECONOMIC REPORT: U.S. consumer prices fall 0.1% in Dec.; CPI rises 3.3% in 2004, with core inflation up 2.2%
By Rex Nutting, CBS.MarketWatch.com
Last Update: 8:33 AM ET Jan. 19, 2005

WASHINGTON (CBS.MW) - Led by falling gasoline and heating oil prices, U.S. consumer prices fell 0.1 percent in December, the Labor Department reported Wednesday.

Excluding the 1.8 percent drop in energy prices and no change in food prices, the core consumer price index increased 0.2 percent.

The figures were about as expected. Economists surveyed by CBS MarketWatch were forecasting - on average - for the CPI to be flat in December and for core prices to rise 0.2 percent.

The CPI increased 3.3 percent in 2004, the biggest increase since 3.4 percent in 2000. Core prices increased a moderate 2.2 percent, the most since 2001's 2.7 percent increase.

The Federal Reserve hopes to keep core inflation in a band between 1.5 and 2.5 percent. The Fed has raised interest rates five times since last summer in an effort to restore interest rates to "neutrality" before inflationary pressures can build up.

The Federal Open Market Committee is expected to continue its "measured pace" of rate hikes, raising the federal funds rate by a quarter percentage point at each meeting in February, March and May.

In December, falling prices were seen in many sectors of the economy. Energy prices dropped 1.8 percent, including a 3.7 percent decrease in gasoline and a 4.8 percent drop in fuel oil costs. For all of 2004, energy costs increased 16.6 percent.

Food prices were unchanged in December and increased 2.7 percent in 2004.

Transportation costs fell 0.9 percent, including a 2.9 percent decline in air fares. New car prices increased 0.3 percent.

Apparel prices dropped 0.4 percent in December, while recreation prices fell 0.1 percent. For the year, apparel prices fell 0.2 percent, while recreation prices increased 0.7 percent.

Housing prices, which represent about 40 percent of the CPI's market basket, increased 0.2 percent in December. Rents and homeownership equivalent rent each increased 0.2 percent. Housing prices increased 3 percent in 2004.

Medical costs increased 0.3 percent in December, as medical commodities such as drugs fell 0.3 percent, reflecting a drop in nonprescription drug prices. Hospital services prices gained 0.8 percent. Medical prices increased 4.2 percent in 2004.

Education and communication prices were flat in December.

Tobacco prices jumped 0.6 percent on end-of-year price increases.


ECONOMIC REPORT: U.S. jobless claims fall by 48,000
By Rex Nutting, CBS.MarketWatch.com
Last Update: 8:36 AM ET Jan. 19, 2005

WASHINGTON (CBS.MW) - First-time claims for state unemployment benefits plunged by 48,000 to 319,000 last week, the Labor Department reported Wednesday.

Seasonally adjusted claims had risen the previous two weeks. Seasonal adjustment problems plague the weekly data around holidays, when thousands of workers are hired for temporary jobs and then let go. The timing of the hiring and firing can warp the weekly data.

The four-week average of initial claims, which smoothes out the data to remove weekly distortions, fell by 3,000 to 341,000.

It was the largest decline in initial claims in more than three years and the lowest level in five weeks.

Meanwhile, the number of laid-off workers receiving unemployment benefits rose by 47,000 to 2.69 million. The four-week average of continuing claims fell by 8,000 to 2.74 million.

The insured unemployment rate remained at 2.1 percent.

Economists have said initial claims in the neighborhood of 330,000 to 350,000 are consistent with monthly job gains of about 150,000 to 250,000. The economy needs to add about 150,000 jobs a month to absorb new entrants into the labor force.

In a separate report, the Labor Department said the consumer price index fell 0.1 percent in December while core prices rose a moderate 0.2 percent.



ECONOMIC REPORT: Housing starts end 2004 on high note; Sharp December increase follows November's plunge

By Corbett B. Daly, CBS MarketWatch
Last Update: 8:39 AM ET Jan. 19, 2005

WASHINGTON (CBS.MW) -- The nation's housing starts rebounded in December, rising at the fastest monthly rate in more than seven years after they declined sharply in the prior month, the Commerce Department said Wednesday.

Total housing starts rose 10.9 percent to a seasonally adjusted annual rate of 2 million units in December.

Economists polled by CBS MarketWatch had forecast starts would climb to 1.9 million for the month. November's starts were revised to 1.81 million, up from the initial estimate of 1.77 million.

Building permits, considered a forward-looking indicator for the home-construction market, fell 0.3 percent in December to a seasonally adjusted annualized rate of 2.02 million units.

Still, economists warn that month-to-month swings in the starts and permits data may not be meaningful. It can take up to five months for a new trend in housing starts to be established.

In the past five months, starts have averaged an annual rate of 1.96 million per month, unchanged from the comparable period through November. Over the past year, total housing starts have fallen 3 percent.

Housing starts rose in every region of the country and in every major subcategory.

Single-family starts rose 13.1 percent to a 1.68 million unit annual rate in December, the highest level since August and the largest monthly gain since September 2002.

In the Midwest, starts rose 18.8 percent to 379,000 units, the fastest monthly increase seen since March 2003.

Starts in the Northeast rose 5.7 percent to 168,000 units, while starts in the West rose 7.9 percent, reaching 516,000 units.

And in the South, the country's largest region, starts rose 10.6 percent to 941,000 units, marking the sharpest monthly increase since November 2002.

Bons resultados para os mercados.

Dados EUA: Jobless Claims: 319 (Esp, 345)

LJ Carregosa SA
Dados EUA: CPI: -0.1 (Esp. 0.0%) / CPI Ex-Food & Energy: 0.2 (Esp. 0.2%)

LJ Carregosa SA