“I think a lot of innovation comes from smaller companies, this will be an even bigger trend in the future,” says Fibrocell CEO Pernock, whose own company is focused on treatments for skin diseases and conditions.
Ahead of the Bell: Dow futures are trading up 60 points and S&P futures are trading up 8 points as equity markets look to bounce back following two consecutive down sessions. Global shares are higher today, on optimism that global economic growth will gain traction after China said factory output was set to accelerate and after the Bank of Japan said it will add to its stimulus policies. Proctor & Gamble will also be in focus today after reporting better than expected results.
On the economic calendar today, September durable goods orders will be out before the market opens and a 7.0% increase is expected, vs. a 13.2% fall the month prior. Jobless claims data for the week ended 10/20 will also be out before the market opens and 372 is forecasted, vs. 388K the week prior. September pending home sales will be out after the opening bell and a 2.5% rise is expected, vs. a 2.6% drop in August. ...
Today marks the 20th anniversary of the Fund Emerging Markets (FOM).
This Fund is managed by FMO the Dutch development bank, and aims exclusively at financing investments of Dutch entrepreneurs in emerging and developing markets. To celebrate this joyous occasion, FMO organizes the seminar “Worldwide entrepreneurship, welcome on board!” today in the Cruise Terminal in Rotterdam. There, 250 distinguished guests will discuss the critical factors of success for Dutch SME companies with subsidiaries in emerging markets. FMO wants to contribute to sustainable economic development in emerging markets by providing financing to entrepreneurs. Steven Duyverman, FOM manager sounds the gong.
Stocks erased earlier gains, struggling to stay in positive territory today, as concerning earnings and weak corporate guidance overshadowed better than expected housing data. Fed officials announced today that rates are likely to be kept at record lows through at least the middle of 2015, and the central bank will continue to purchase $40 billion worth of mortgage-backed securities per month.
On the economic front, new U.S. single-family home sales were up 5.7% in September to their highest level in almost 2½ years, fueling continued hopes that the housing market recovery is taking hold.
Weekly mortgage applications fell 12% last week as demand for both purchase loans and re-financings fell.