FeedPosted Mar 19th 2010 9:00AM by David Schepp (RSS feed)
Filed under: Before the Bell, Google (GOOG), Viacom (VIA), Lloyds TSB Group plc ADS (LYG), DJIA
U.S. stock futures were flat as investors take stock of a recent run-up in stock prices and four days worth of economic releases, with no new data scheduled for Friday.
Ahead of the opening bell on Wall Street, the Dow Jones industrial average, S&P 500 and Nasdaq Composite indexes were lower fractionally. Stocks ended Thursday's trading mixed, with the Dow Jones adding 45 points in its eighth straight day of positive sessions. The broader S&P 500 ended slightly lower Thursday, while the Nasdaq gained about 1%. Renewed concerns over the European nations' support for Greece in its debt crisis were countered by reports showing a decline in weekly jobless claims and tepid inflation.
Continue reading Before the Bell: Futures Flat as Investors Digest Recent Gains
Posted Mar 18th 2010 8:30AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, Market Matters, FedEx Corp (FDX), NIKE, Inc'B' (NKE), Economic Data, Teva Pharm Indus ADR (TEVA)
U.S. stock futures were mixed Thursday morning ahead of several key readings on employment and inflation due out this morning. However, renewed concerns over the European nations' support for Greece in its debt crisis weighed on markets.
Stocks closed higher on Wednesday, continuing the steady climb of the past few weeks. But if world markets are any indication, Thursday might open lower as Greece's Prime Minister George Papandreou said his country needs a
firmer eurozone bailout plan. He
warned his country would not be able to make planned deficit cuts unless it can borrow money cheaply. If it cannot get the euronations help, Greece may have to seek assistance from the International Monetary Fund.
Continue reading Before the Bell: Futures Mixed Ahead of Inflation, Employment Data
Posted Mar 17th 2010 8:25AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, Market Matters, Economic Data, Oil, Federal Reserve
U.S. stock futures advanced Wednesday morning, in what would seem to be a continuation of Tuesday's gains following the Federal Reserve's statement about the economy and its policy. Investors will also sink their teeth on some inflation data.
U.S. stocks rose Tuesday, with the Dow industrials adding 0.4% and closing higher for a sixth straight time, the S&P 500 gaining 0.8% and finishing at a 17-month high, and the Nasdaq jumping 0.7%. The Federal Reserve, as expected, kept rates unchanged and said it would keep interest rates low for the foreseeable future. Also, Standard & Poor's rating agency said it would not necessarily downgrade Greece.
Continue reading Before the Bell: Futures Higher After Fed, Ahead of PPI
Posted Mar 16th 2010 8:10AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, PepsiCo (PEP), Market Matters, Economic Data, Limited Brands (LTD), Oil, Federal Reserve
U.S. stock futures advanced somewhat Tuesday as investors turn their attention to the Federal Reserve policy meeting with the upcoming decision on interest rates and the accompanying statement. Meanwhile, investors could sink their teeth on some housing data.
It became clear Monday, after the session closed with stocks little changed, that investors are waiting for the Fed. The Federal Open Market Committee decision is due at 2:15 p.m. Eastern. While the Fed is expected to keep interest rates unchanged near zero, it is the statement that will be in focus. As the economy is improving, the Fed will have to start tightening at some point -- hiking rates -- to combat inflation. The question for investors is when. So far, the Fed has promised to keep rates low for an "extended period." But many expect this language, at least, to change soon, which may pressure stocks lower.
Continue reading Before the Bell: Futures Slightly Higher Ahead of Fed
Posted Mar 15th 2010 8:30AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, PepsiCo (PEP), Market Matters, Bank of America (BAC), Economic Data
U.S. stock futures traded in a narrow, slightly lower range Monday morning. Investors remained concerned about possible monetary tightening in China, the growing risks to credit ratings of Triple-A nations after pushing Wall Street to 18-month highs. Attention was also turned to the upcoming Federal Reserve meeting.
The Federal Reserve is scheduled to meet Tuesday. While it is unlikely to raise a key interest rate from historic lows, the policy statement, released Wednesday, may contain clues as to when the Fed might make a move.
Continue reading Before the Bell: Futures Lower Ahead of Data
Posted Mar 12th 2010 8:30AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, Pfizer (PFE), Market Matters, Federal Reserve, Potash Corp. of Saskatchewan (POT)
U.S. stock futures advanced Friday morning, indicating Wall Street is ready to continue climbing higher as investors await economic data, including reports on retail sales and consumer confidence. U.S. stocks gained Thursday for the third straight session with S&P 500 finishing at 17-month high.
On Friday, several economic reports could set the tone. At 8:30 a.m. Eastern, February retail sales figures are due. Economists expect to see that sales fell 0.2% in February, following a 0.5% dip in January, according to Briefing.com. These readings, some economists say, may be distorted due to the weather in February, mostly the snowstorms.
Continue reading Before the Bell: Futures Advance Ahead of Data
Posted Mar 10th 2010 8:30AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, China, Market Matters, Abbott Laboratories (ABT), Economic Data, American Eagle Outfitters (AEO)
U.S. stock futures inched higher Wednesday morning. News is thin this morning, save some corporate deals and later on inventory data -- the first major economic release of the week. Also, some
data from China showed that exports and imports grew faster than expected, boosting confidence regarding the global economic recovery.
On Tuesday, Wall Street market the one-year anniversary of the recession's lows and the march to recovery since. U.S. stocks finished with slight gains. The Dow Jones Industrial Average rose 11 points, while the Nasdaq finished at 2010 closing highs.
Continue reading Before the Bell: Futures Inch Higher Ahead of Inventory Data
Posted Mar 8th 2010 8:27AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, Deals, China, Market Matters, Amer Intl Group (AIG), MetLife Inc. (MET)
U.S. stock futures were only slightly higher Monday morning despite a fresh batch of deal news as investors took a breather from the rally on Friday brought on by nonfarm payroll data that took the Nasdaq to 18-months high.
This morning, however, with no major economic data out, investors are left to ponder the recent AIG deal. American International Group (
AIG) said it will
sell its overseas life and health insurance unit, Alico, for $15.5 billion to MetLife (
MET) -- $6.8 billion in cash, and the rest in stock and equity units. This sale follows last week's sale of AIA to Prudential PLC (
PUK), as AIG attempts to repay billions in government aid. The cash portion of the sale will be used to reduce a $47.9 billion investment in AIG by the Federal Reserve Bank of New York.
Continue reading Before the Bell: Futures Higher Following AIG Deal
Posted Mar 5th 2010 9:30AM by Mark Fightmaster (RSS feed)
Filed under: Before the Bell, Good news, Economic Data, Recession
For the 25th time in the past 26 months,
U.S. nonfarm payrolls fell during February. The Labor Department announced that 36,000 jobs were lost during February, lower than the expected figure of 50,000. The unemployment rate remained at 9.7%, which was better than expectations the rate would rise to 9.8%.
Perhaps all of the government's pre-report hand wringing over the impact of the snowstorms was unwarranted. Some economists believed that the storms could have inflated job losses by 100,000 or more. If the storms indeed caused such losses, it would mean there was a net gain of jobs last month. An increase would have been the second increase since the recession started back in December 2007.
Continue reading Unemployment Held Steady in February
Posted Mar 5th 2010 8:30AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, Market Matters, Sprint Nextel Corp (S), Economic Data, Marvell Technology Group (MRVL)
U.S. stock futures were higher Friday ahead of a key employment report that would shed more light on the U.S. economy. Meanwhile, following a successful bond sale, worries about Greece's debt problems eased.
At 8:30 a.m. Eastern, the Labor Department will release the February figures for nonfarms payrolls. Economists are expecting job losses in the U.S. probably accelerated in February as severe weather forced some employers to temporarily close. According to Briefing.com, economists expect payrolls dropped by 68,000 workers last month after falling by 20,000 in January. The unemployment rate, probably rose to 9.8% from 9.7% the previous month.
Continue reading Before the Bell: Futures Higher Ahead of Employment Data
Posted Mar 4th 2010 9:00AM by Mark Fightmaster (RSS feed)
Filed under: Before the Bell, Forecasts
Retailer Pier 1 Imports (
PIR) issued fiscal fourth-quarter earnings forecast Thursday morning, saying it expect earnings to come in at
at least 29 cents per share. A year ago, PIR lost 33 cents per share in the fourth quarter. Moreover, the consensus estimate for the retailer's quarterly earnings checks in at 25 cents per share.
This wasn't the only news from PIR, as the company forecast fourth-quarter merchandise margins of 55.7%, which is better than last year's 44.3% and the Street's expectations. PIR's same-store sales also increased by 6.5%. A true bevy of good news, but we could see the jubilation tempered by the fact that PIR predicts its fourth-quarter revenue will total $396 million while expectations call for $406.02 million.
Continue reading Pier 1 Issues Healthy Fourth-Quarter Forecast
Posted Mar 4th 2010 8:18AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, Market Matters, Economic Data
U.S. stock futures were little changed Thursday morning as investors awaited weekly jobs figures, as well as housing and factory data and retail sales. What Wall Street is really waiting for is Friday's nonfarm payroll numbers.
This morning is a direct continuation of Wednesday's finish, as stocks ended the session relatively flat. An hour before the opening bell, at 8:30 a.m. Eastern, data for weekly initial and continuing jobless claims are due. Initial jobless claims are expected to decline 25,000 from the prior week to a total of 470,000 in the week ended Feb. 27, according to a Briefing.com.
Continue reading Before the Bell: Futures Drift Ahead of Jobs Data
Posted Mar 3rd 2010 8:30AM by Melly Alazraki (RSS feed)
Filed under: Before the Bell, International Markets, Pfizer (PFE), Market Matters, Costco Wholesale (COST), Novell Inc (NOVL), Economic Data
U.S. stock futures were mixed Wednesday, as Greece took measures to deal with its financial woes and improve its fiscal burden. In focus this morning is labor market data that could shed more light on the progress -- or lack thereof -- on this all important front.
Challenger, Gray & Christmas Inc. outplacement firm already said Wednesday that the pace of U.S.
job cuts slowed last month to the lowest level in 3.5 years.The firm said that 42,090 job cuts were announced in February, 41% less than January's 71,482 cuts, and 77% lower than the year-ago period. It was the lowest total since July 2006. Since peaking in January of last year, monthly job cuts have mostly declined steadily.
Continue reading Before the Bell: Futures Mixed After Jobs Data
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U.S. stock futures fell slightly Thursday ahead of weekly jobs data and after a report on rising Chinese inflation.
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