Melly Alazraki
Toronto, Canada - http://
Before the bell: Futures decline after unemployment rate rises to 10.2%
U.S. stock futures were higher Friday morning, continuing Thursday's strong performance and nearing two-week highs. All eyes this morning will turn to the government's jobs report. While there have been signs of growth and recovery in the economy, the labor market has been one of the biggest concerns, as the Federal Reserve statement just from Wednesday attests.[Update 8:33 a.m.: Stock futures changed course after the government reported the unemployment rate rose to 10.2%, above the 9.9% expected. Nonfarm payrolls dropped by 190,000 in October, bringing to total number of jobs lost in the recession to 7.3 million.]
U.S. stock markets surged about 2% on Thursday with the Dow Jones Industrial Average reclaiming the 10,000 mark with a 203 point move. Positive economic news, including sales results from retailers and upbeat outlook from tech giant Cisco (NASDAQ: CSCO).
Continue reading Before the bell: Futures decline after unemployment rate rises to 10.2%
Before the bell: Futures higher after data, earnings
U.S. stock futures drifted a little lower (later a little higher) Thursday morning following Wednesday's Federal Reserve's statement that it was keeping rates at record low levels. However, earnings from tech giant Cisco accompanied by an upbeat outlook could give a boost to tech. Also this morning, investors will watch as retail chain-stores report October sales.[Update: Futures now point to a higher open following retail sales data, earnings and lower claims numbers.]
On Wednesday, Wall Street ended mixed and relatively flat after the Federal Reserve decided to keep rates steady. While conceding the economy has picked up, policymakers said this was not enough to hike interest rates, saying an increase will instead depend on when the labor market and inflation pickup. Given that there have been no inflationary pressures and that unemployment is expected to rise, the dollar weakened yesterday and short-term Treasury yields fell. The Fed also cautioned consumer spending would remain strained. Of course, the market would have liked to see a stronger show of confidence.
Continue reading Before the bell: Futures higher after data, earnings
Before the bell: Futures rise ahead of Fed decision
U.S. stock futures climbed on Wednesday morning, ahead of the decision by the Federal Reserve on interest-rate and monetary policy. This afternoon, the Fed will give its outlook on the economy and the corresponding policy it's taking. It is widely believed the Fed will not raise rates. Meanwhile, more earnings and economic data are on tap.Unlike this morning, traders appeared more cautious Tuesday, as the Fed began its two-day policy meeting. Stocks ended mixed and fairly unchanged following news that Warren Buffett's Berkshire Hathaway (NYSE: BRK.B) has decided to buy Burlington Northern Santa Fe (NYSE: BNI) in a deal worth $44 billion and as Johnson & Johnson (NYSE: JNJ) announced a 6-7% workforce reduction.
Continue reading Before the bell: Futures rise ahead of Fed decision
Before the bell: Futures point to a sharply lower start
If on Monday investors were ready to bounce back from Friday's selloff, today stock futures are sharply lower, indicating U.S. stock markets are poised to slump at the open ahead of the Federal Reserve two-day policy meeting that begins today. Another rate hike from Australia, poor results from UBS and weak European markets weigh on sentiment.Monday was a volatile session. Stocks rallied in the morning following a surprise profit from Ford (NYSE: S) and an upbeat home sales reading, but mostly due to October's manufacturing index that jumped to its highest level in three and a-half years. That didn't hold up, though and the Dow skidded to negative territory only to bounce back later in the afternoon as buyers came back in.
Continue reading Before the bell: Futures point to a sharply lower start
Before the bell: Stocks futures point to a solid start after CIT's failure, Ford's earnings
U.S. stock futures were significantly higher Monday morning, with Wall Street ready to start November on a solid note following Friday's sharp selloff. This morning is indicative of the week ahead full of earnings and economic data. In addition, this week also features the Federal Reserve policy meeting.On Friday, markets skidded some 2.5 percent as the fate of CIT Group (NYSE: CIT) hung in balance and the strength of the economic recovery, and with it the markets' rally, questioned. And after seven months winning streak, which took Wall Street over 50 percent higher from March lows, October finished in a down note.
Pharma earnings recap: Mylan, Allergan, Novo-Nordisk
One would expect generic U.S. drugmaker Mylan (NYSE: MYL) to benefit from all this talk about increased generic competitions, but revenue only increased 5.2 percent to $1.26 billion on an operational basis, beating analyst revenue estimates of $1.23 billion. Still, revenue in North America, where most pharmas have been hurting, rose 9.2 percent to $502.5 million, helped by new product launches and increased volume.
On an adjusted basis, Mylan posted better-than-expected third-quarter results on Thursday, reporting an earnings per share of 32 cents -- 5 cents higher than the average estimate of analysts polled by Thomson Reuters I/B/E/S. It seems that just like branded pharmas, Mylan benefited from cost cuts. Still, the world's No. 3 generic drugmaker raised its full-year outlook and said it believes it can continue its current momentum into 2010.
Continue reading Pharma earnings recap: Mylan, Allergan, Novo-Nordisk
Before the bell: Futures lower as Street takes a breather, awaits more data
U.S. stock futures drifted lower Friday morning, indicating a weaker start on Wall Street, a day after a market rally that was fueled by strong economic reports. But as investors catch their breath, they also await cautiously for data on consumer spending and sentiment, as earlier data this week surprised to the down side.On Thursday, the government reported the economy grew 3.5% in the third quarter. While the growth was mostly due to government stimuli, it was enough to lift stocks some 2% for the day. Treasury Secretary Timothy Geithner said Thursday the U.S. economy's return to growth shows some stability but recovery is fragile and needs nurturing.
Continue reading Before the bell: Futures lower as Street takes a breather, awaits more data
Before the bell: Stock futures higher ahead of GDP data
U.S. stock futures were mildly higher, indicating a positive open for this Thursday morning following the previous session's sell-off. However, all bets are off before the U.S. releases third quarter gross domestic product that would give a better picture of the state of the U.S. economy and growth. The GDP data will no doubt affect investors' mood once released at 8:30 a.m., or an hour before the opening bell.[Update 9:00 a.m.: The economy grew at a 3.5% pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. Futures got a boost from the reading.]
Economists expect GDP to have grown at a 3.2% annualized rate in the third quarter, according to Briefing.com after shrinking at an 0.7% annualized rate in the second quarter. If true, it would mean the economy is back on its feet after being knocked over by the worst recession since the 1930s. But many attribute the growth to government support programs such as cash for clunkers and mortgage modification and wonder what the fate of the economy be once gone.
Continue reading Before the bell: Stock futures higher ahead of GDP data
Before the bell: Stocks set to drop ahead of more data, disappoinging earnings
U.S. stock futures declined Wednesday morning a day after stocks mostly fell on mixed economic data and some earnings disappointments. Today is another busy day of earnings and economic releases, including durable goods orders and new home sales. On Tuesday, U.S. stocks fell for a third straight session after a surprise drop in consumer confidence. Despite a good housing report, and even as the Dow's oil giants and IBM (NYSE: IBM) saved the Dow from finishing in the red (BP (BYSE: BP) on good earnings, and IBM increased its share repurchase plan), tech staged a selloff and the Nasdaq composite fell 1.2%. The S&P 500 fell 0.3%.
Continue reading Before the bell: Stocks set to drop ahead of more data, disappoinging earnings
Before the bell: Futures waver ahead of economic reports, more earnings
U.S. stock futures drifted higher Tuesday morning, pointing to a somewhat flat beginning on Wall Street this morning after yet another sell-off day Monday despite a series of strong earnings releases. Investors await several economic releases due out this morning, including housing and consumer confidence, looking for direction.Economic releases this morning include September durable goods orders at 8:30 a.m. Eastern, which is expected to have risen. At 9 a.m., the August Case-Shiller Home Price Index is due out. Prices are expected to have continued their slide. At the same time, October's Conference Board reading on consumer confidence will be released. Economists expect confidence has improved slightly.
Continue reading Before the bell: Futures waver ahead of economic reports, more earnings
Stocks set for a higher open with Verizon earnings on tap
U.S. stocks are set for a higher open Monday, ready to rebound following Friday's losses. With not much in the way of economic news today, investors looked ahead to more earnings reports, counting on them to continue to exceed expectations. Verizon Communications Inc. (NYSE: VZ), the second-largest U.S. phone company, is due to report earnings this morning. The upcoming GDP report due out Thursday is really the highlight of this week as it could reveal a better picture about the U.S. economy and its recovery.
More here: Before the bell: Stocks set to rebound as more earnings on tap
Stocks set for a mild open amidst a flood of earnings
U.S. stocks stocks are poised for a mild open Tuesday morning, a day after U.S. markets already set new 2009 highs and following solid results from Apple (NYSE: AAPL) and Texas Instruments (NYSE: TXN) late Monday. A flood of earnings from such heavyweights as Coca-Cola (NYSE: KO), Pfizer (NYSE: PFE) and DuPont (NYSE: DD) is also due out this morning. In addition, some economic releases, including inflation and housing data, are scheduled for this morning.More here: Before the bell: Stock futures higher as earnings generally top estimates
Before the bell: Stock futures higher ahead of more earnings
U.S. stock futures climbed Monday morning ahead of a busy earnings week. International markets rallied as corporate earnings showed the economic recovery may be stronger than thought and as China announced GDP growth numbers for the recent quarter. Meanwhile, oil prices jumped above $79 a barrel before retreating.Overseas, most Asian markets recovered from earlier declines to finish on a positive note overnight. European stocks rose Monday as investors looked ahead to U.S. corporate earnings reports with increased optimism over the strength of the economic recovery. The fact that China's economy expanded more than 7% in the first nine months of the year and will certainly surpass the 2009 growth target of 8 percent helped the positive sentiment as well.
Continue reading Before the bell: Stock futures higher ahead of more earnings
Before the bell: Stock futures lower after GE beats, BofA reports loss
U.S. stock futures were mixed and barely moved Friday morning after Google (NASDAQ: GOOG) and International Business Machines (NYSE: IBM) beat analyst estimates late Thursday and as results came in this morning from General Electric (NYSE: GE) and Bank of America (NYSE: BAC), with the first also surpassing Wall Street expectations. [Update 8:45 a.m.: Futures turned negative after the large Dow companies didn't perform quite as well.]The Dow Jones Industrial Average managed to close above the 10,000 mark Thursday, for the second day in a row, despite earlier weakness following some financial sector results. But a jump in oil prices helped oil stocks move higher and the Dow maintain that important psychological mark.
Continue reading Before the bell: Stock futures lower after GE beats, BofA reports loss
Before the bell: Futures turn lower after Goldman's results
U.S. stock futures were mixed to lower Thursday morning, trading in a tight range as investors look beyond Dow 10,000. Another wave of earnings is due out today, including from financial giants Citigroup (NYSE: C) and Goldman Sachs (NYSE: GS). Also, a slew of economic releases will be reported, including inflation and two key regional indexes. [[Update 8:15 a.m.: Futures turned lower after Goldman's results.]]Wall Street rallied Wednesday on earnings optimism, following upbeat profit reports from Intel (NASDAQ: INTC) and JPMorgan Chase (NYSE: JPM). It was enough to lift the Dow industrials to its first close above 10,000 in a year. But some, like my colleague Dan Burrows, think it won't last.
Continue reading Before the bell: Futures turn lower after Goldman's results
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Closing Bell: Unemployment must not be relevant (GE, ACOM, FNM, ZIOP, MOT, NVDA)
