Market News

Sort by newest Sort by date
[BRIEFING.COM] S&P futures vs fair value: -2.5. Nasdaq futures vs fair value: +3.5. Futures are currently indicating the stock market will open in mixed fashion. IBM (IBM 120.47) announced after yesterday's close earnings results that beat the consensus estimate, but disappointing earnings results from the likes of Merrill Lynch (MER 44.89) and Pfizer (PFE 21.10) announced this morning are undermining sentiment.
 
08:30 am : S&P futures vs fair value: -4.5. Nasdaq futures vs fair value: -0.8. The stock market is now indicating a lower start. Jobless claims for the week ending April 12 totaled 372,000. The consensus forecast predicted 375,000 claims would be filed. Jobless claims filed in the previous week were reviesed from 357,000 to 355,000.
 
Only two companies, but notice they both guided '08 EPS below consensus

7:10AM United Tech beats by $0.04, beats on revs; guides FY08 EPS below consensus, revs in-line

7:08AM Harley-Davidson beats by $0.02, beats on revs; guides FY08 EPS below consensus
 
The Philadelphia Fed Survey for April came in at -24.9, which is below the -15.0 economists were expecting. Leading economic indicators from March were in-line with expectations, increasing 0.1%.
 
Motorcycle manufacturer Harley-Davidson (HOG 35.72, -1.07) is trading near its 52-week low, despite announcing better than expected earnings results this morning. Shares of HOG have been hit hard in response to the slowdown in the U.S. economy; the stock has lost nearly half its value during the past year.
 
Dallas Fed President Fisher said interest rate cuts may "compound the bad", and warned against "inflating our way" out of the credit turmoil. Fisher notes he has a strong reluctance to continue to ease rates. These comments are not too surprising, considering Fisher along with Philadelphia Fed President Plosser dissented against the March 18 rate cut of 75 basis points, preferring less aggressive easing.
 
Citigroup misses by $0.07, beats on revs (C) 24.03 : Reports Q1 (Mar) loss of $1.02 per share, $0.07 worse than the First Call consensus of ($0.95); revenues fell 48.1% year/year to $13.22 bln vs the $12.77 bln consensus. Results include $6.0 billion in pre-tax write-downs and credit costs on sub-prime related direct exposures. Results also include write-downs of $3.1 billion (net of underwriting fees) on funded and unfunded highly leveraged finance commitments, a downward credit value adjustment of $1.5 billion related to exposure to monoline insurers, write-downs of $1.5 billion on auction rate securities inventory, and a $3.1 billion increase in credit costs in global consumer. Co said, "As we move into the second quarter and beyond, we will continue to divest non-strategic assets and allocate capital to the products and regions that will drive increased revenues, enhance the value of our franchise, and ultimately, maximize shareholder value".
 
[BRIEFING.COM] S&P futures vs fair value: +21.0. Nasdaq futures vs fair value: +37.5. Futures indicate a decidedly positive start to Friday's trading, helped by a positive earnings surprise from Google (GOOG) after yesterday's close. This morning's announcements, however, have been mixed as Citigroup (C) and Schlumberger (SLB) fell short of the consensus earnings estimate, but Honeywell (HON) and Caterpillar (CAT) topped analysts' forecasts.
 
[BRIEFING.COM] S&P futures vs fair value: +21.5. Nasdaq futures vs fair value: +42.0. Stock futures continue to indicate a strong open as pre-market sentiment remains optimistic. Participants are undeterred by Citigroup's (C) $13 billion write-down and earnings miss. Yesterday the company announced it was selling its North American commercial lending and leasing business.
 
[BRIEFING.COM] S&P futures vs fair value: -3.6. Nasdaq futures vs fair value: -11.8. Futures continue to indicate a lower start. McDonald's (MCD) reported earnings of $0.76 per share, which topped expectations by six cents. UAL Corp (UAUA), operator of United Airlines, reported a larger than expected loss of $4.45 per share. Meanwhile crude continues to take out new records, as it hit an all-time high of $118.05 per barrel in earlier trade.
 
After hitting an all-time high of $119.90 per barrel in yesterday's trade, crude oil retreated as the contract switched to June delivery from May delivery. Prices are set to go on the move, as the government's weekly energy report just hit the wires. The Department of Energy said crude stockpiles rose by 2.42 million barrels, which is larger than the expected build of 1.50 million barrels. Just prior to the release, crude was trading down 0.8% to $117.11 per barrel
 
08:30 am : S&P futures vs fair value: -6.8. Nasdaq futures vs fair value: -12.0. Futures continue to indicate a start to the downside. Jobless claims for the week ending April 19 totaled 342,000. The consensus estimate projected 375,000 claims would be filed. Durable goods orders for March declined 0.3%. Economists were expecting no change in orders.
 
OK- here is a question:

What will the FED do at it's meeting this week, and how will the markets react to what the FED does?
 
You must log in or register to reply here.

Similar threads

tsptalk
  • Article Article
TSP Talk - China and Consumer Confidence push and pull the market
Replies
0
Views
2K
tsptalk
tsptalk
tsptalk
  • Article Article
TSP Talk - Will stocks rally if interest rate hikes are done?
Replies
0
Views
586
tsptalk
tsptalk
tsptalk
I-fund 2022
Replies
10
Views
3K
tsptalk
tsptalk
tsptalk
  • Article Article
TSP Talk: Strong jobs report concerns investors... temporarily
Replies
0
Views
406
tsptalk
tsptalk
tsptalk
  • Article Article
TSP Talk: Bear market action persists and bulls look for relief
Replies
0
Views
429
tsptalk
tsptalk
Back
Top