TD: Futures Edging Slightly Lower on Absence of Economic Data
Ridgeland, MS, MAR 19, 2010 (EventX/Knobias.com via COMTEX) --
Stock futures are flat to slightly lower ahead of the bell. With the absence of any major economic data, traders will have to look elsewhere for direction, albeit volatility could be somewhat heavier than normal due to quadruple witching. Market index futures, market index options, stock options, and stock futures will all be expiring at the same time. The Dow is off 7 points, with the S&P inching lower as well. The NASDAQ is also edging just below the flat line. Stocks have had solid week thus far as the Dow Jones Industrial average has posted eight straight days of gains, and the S&P 500 set 52-week highs on both Wednesday and Thursday. Investors have managed to shake of renewed concerns regarding Greece's debt situation and rather focused on a slightly improving job market and reassurances that inflation, at least in the short term, will not become a problem. Global markets have been advancing overnight, particularly in Britain, after Lloyds Banking Group disclosed it expects to post a profit this year. The Footsie is up around 0.65%, followed by slightly gains from the DAX and CAC 40. The Nikkei in Japan closed moderately to the upside, with the Hang Seng edging slightly higher as well. Crude prices are significantly lower in early trading as oil looks to take a break from recent gains. Gold is down slightly as the dollar is showing early strength. Treasuries are edging to the downside. Palm is down sharply pre-market after the Company reported a big miss on its Q3 earnings after the bell yesterday and suggested Q4 sales will be weaker than expected. Shares of the Company are off almost 16% after reporting an adjusted loss of (61) cents versus consensus of (40) cents. Citigroup downgraded DIRECTTV to "Hold" this morning. BB&T initiated coverage on Staples with a "Buy" rating.TOP STORIES
- GOP to Seek Nullification of Healthcare Bill Should It Pass
- Theflyonthewall.com Barred from Quick Release Of New Analyst Ratings
- US Car Sales Improving in March
- Obama Calls for Fast Action On Jobs
- Court Orders Facebook to Pay $6M re Alleged Privacy Violations
- Rep. Jeb Hensarling (R-TX) Calls for Privatization of Fannie Mae and Freddie Mac
- Government Watchdogs Group Says FAA Allowed Southwest Airlines (LUV) to Violate Safety Rules
- FAA and NASA Argue for Authority Over Space Safety
- White House Near on Guantanamo and Trials for Detainees
- Citigroup May Withdraw from Bharti Airtel Loan Talks
- Fed Balance Sheet Grows to $2.311 Trillion from $2.286 Trillion in Previous Week
- California Median Home Prices Rise 11.2%
- SunPower (SPWRA) Restates Results After ProbeECONOMIC DATA
- No major economic releases scheduled
Foreign Market Recap
Asia
- Nikkei 225: (10,824.72, +80.69, +0.74%)
- Shanghai Comp: (3,067.75, +21.66, +0.70%)
- Hang Seng: (21,370.82, +40.15, +0.19%)
- Dollar/Yen: (1 Dollar = 90.52)Europe
- DAX: (6,018.09, +5.78, +0.10%)
- FTSE 100: (5,673.64, +31.02, +0.54%)
- CAC 40: (3,956.06, +17.88, +0.45%)
- IBEX 35: (11,044.50, -29.00, -0.26%)
- Euro/Dollar: (1 Euro = $1.36)U.S. Futures
- Nasdaq (1943.94, -0.25)
- Dow (10779.17, -3.00)
- S&P 500 (1165.83, -0.2)
Commodities/Bonds
- Crude (81.71, -0.49, -0.60%)
- Gold (1122.3, -5.2, -0.01%)
- 5-Year Treasury Note (2.41%, ---)
- 10-Year Treasury Note (3.67%, ---)
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For full details on Palm Inc (PALM) PALM. Palm Inc (PALM) has Short Term PowerRatings at TradingMarkets. Details on Palm Inc (PALM) Short Term PowerRatings is available at This Link.
For full details on Staples Inc (SPLS) SPLS. Staples Inc (SPLS) has Short Term PowerRatings at TradingMarkets. Details on Staples Inc (SPLS) Short Term PowerRatings is available at This Link.
For full details on The DIRECTV Group, Inc. (DTV) DTV. The DIRECTV Group, Inc. (DTV) has Short Term PowerRatings at TradingMarkets. Details on The DIRECTV Group, Inc. (DTV) Short Term PowerRatings is available at This Link.
