World Markets Up on China, the Fed and U.S. Budget Deal

World Markets Up on China, the Fed and U.S. Budget Deal. World markets are higher this morning boosted by better than expected trade data from China.  China's exports rose +10.6% in January well beyond economists estimates of only a +2% increase. Fed Chairman Jenet Yellen in testimony yesterday said that the Fed would continue with its easy money policy easing fears that the Fed would start tightening amid recent poor economic reports. Additionally, the Republican led House has agreed to suspend the U.S. debt ceiling borrowing authority until March 16, 2015.  

Upgrades:

AB InBev (BUD): Goldman Sachs raised their rating from Sell to Buy.

Downgrades:

Amazon.com (AMZN): UBS lowered their rating from Buy to Neutral and lowered their target price from $450.00 to $375.00.

American Railcar (ARII): Longbow lowered their rating from Buy to Neutral.

Dean Foods (DF): Stifel lowered their rating from Buy to Hold.

Green Mountain Coffee (GMCR): Longbow lowered their rating from Buy to Neutral.

Intuit (INTU): Evercore lowered their rating from Equal Weight to Underweight and lowered their target price from $72.00 to $62.00.

Coverage Initiated:

Allstate (ALL): Citigroup initiated coverage with a Neutral rating and target price of $53.00.

Chubb (CB): Citigroup initiated coverage with a Sell rating and target price of $76.00.

Progressive (PGR): Citigroup initiated coverage with a Neutral rating and target price of $24.00.

Traveler’s (TRV): Citigroup initiated coverage with a Sell rating and target price of $71.00.

Earning Reports:

Deere (DE): Reported EPS of $1.81 beating estimates by +0.28.

Dr Pepper Snapple (DPS): Reported EPS of $0.97 beating estimates by +0.13.

Owens Corning (OC): Reported EPS of $0.44 beating estimates by +0.16.

Vonage (VG): Reported EPS of $0.05 beating estimates by +0.01.

Markets: 
Futures at 6:20: Dow +0.2%. S&P +0.2%. Nasdaq +0.3%. Crude +0.6% to $100.53. Gold -0.2% to $1287. U.S. 10 Year +2/32 to 2.75%

Europe: London +0.2%. Paris +0.5%. Frankfurt +0.9%. 

Asia: Japan +0.6% to 14800. Hong Kong +1.5% to 22286. China +0.3% to 2110. India +0.4% to 20448. 

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