Ahead of the Bell: Dow futures are trading up 35 points and S&P futures are trading up 3 points. Better than expected German business confidence data, along with improving manufacturing and jobless claim figures from the US is providing support to investors. Traders are hoping the contraction in the euro zone's largest economy is over. A Japanese Finance Minister was quoted saying, the central bank would take the "appropriate action" if the yen continues to strengthen. Proctor and Gamble will be in focus today after the household products manufacturer reported strong 4th quarter earnings, a sign consumers are returning to name brand items.
On the economic calendar today, new home sales for December will be out after the opening bell, it is forecasted to be 388K compared with 377K for the month prior.
The dollar is up against the British pound and down...
Today Orascom Construction Industries (OCI) celebrates its listing at NYSE Euronext Amsterdam.
During the festive ceremony CEO of OCI Nassef Sawiris starts the trading in OCI by sounding the gong (ticker symbol: OCI). Sawiris is accompanied by members of the OCI management board, Rabobank International (the listing agent) and Allen & Overy (legal advisers), the NYSE Euronext listing team and Cees Vermaas, CEO of NYSE Euronext Amsterdam. OCI is an international manufacturer of fertilizer and construction company, with projects and investments in Europe, America, Middle East, North Africa and Central Asia.
Executives and guests of Watson Pharmaceuticals, Inc., will visit the New York Stock Exchange to celebrate its new global name — Actavis — and a multi-year rebranding, including a new ticker symbol.
To mark the occasion, Paul Bisaro, President and CEO of Watson, and members of Watson’s executive leadership team will ring the NYSE Closing Bell.
About Watson Pharmaceuticals, Inc. (NYSE: WPI)
Watson Pharmaceuticals, Inc. (NYSE: WPI) is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. The Company has global and U.S. headquarters in Parsippany, New Jersey, USA, and international headquarters in Zug, Switzerland.
Stocks finished mixed, with the benchmark S&P advancing for the seventh consecutive day for the first time in over six years as upbeat economic data overshadowed a sharp decline in Apple due to a drop in iphone sales.
The Labor Department reported that initial jobless claims dropped last week to 330,000, a five-year low, and well-below the consensus forecast of 355,000 claims.
The Conference Board’s index of U.S. leading indicators rose in December by the most in 3 months, +0.5%; topping economists’ projection of a rise of 0.4%. The reading indicates that the world’s largest economy is poised to keep growing through the first half of this year.
Corporate earnings have helped drive the recent rally in equities. According to Thomson Reuters, of the 133 S&P 500 companies that have reported earnings, 66.9% have topped expectations, outpacing the 65%...