Paras Madho is a Director of the Market Watch & Corporate Actions, Global Corporate Client Group for NYSE Euronext (NYSE: NYX). In this...
Ahead of the Bell: Dow futures are trading up 71 points and S&P futures are trading up 8 points. The Federal Reserve will be in focus, as the central bank is scheduled to hold a meeting today to be followed by an announcement in the afternoon. Traders will be watching to see what the agency says on its easy monetary policy for the economy, interest rates, and its outlook since the recent better than expected jobs data. The FOMC might punt its decision on additional stimulus down the road in light of improving economic data. However, economists don't expect the Fed to take a possible QE3 off the table yet given higher gasoline and food prices.
DJIA up 37.69 pts/+0.29%/12,959.71
S&P up 0.22 pts/+0.02/1,371.10
Nasdaq down 4.68 pts/-0.16/2,983.66
Dow Futures up 71.00 pts/+0.55%
S&P Futures up 8.40 pts/+0.59%
Nasdaq Fut up 15.22 pts/+0.55%
CAC 40 +1.10%
NIKKEI 225 +0.09%
HANG SENG +0.97%
Overseas: World stock markets were up today. European and Asian markets are up on better than expected investor confidence data from Germany.
Economic Reports: NFIB Small Business Optimism Index expected to be 95.0 at 7:30 a.m., , Retail Sales expected to be 1.2% at 8:30 a.m., Business Inventories expected to be 0.5%, and FOMC Meeting Announcement at 2:15 p.m.
Gold:down $5.10 to $1,696.85
Oil: up 0.56 to $106.90
EUR/USD 1.3112 -0.0043
USD/JPY 82.6020 -0.2800
GBP/USD 1.5654 -0.0014
Volatility Index (VIX): As of the close of business Monday, March 12, the VIX is down 1.47 at 15.64
Companies Reporting Quarterly Earnings:
FactSet reports Q2 adjusted EPS $1.14, vs. Est $1.00 and Q2 revenue $199.4M, vs Est $198.16M.
Today’s Opening and Closing Bells:
Brazil’s Banco Bradesco Visits the New York Stock Exchange Vice-Chairman Antonio Bornia will ring the opening bell.
Endeavour International Corporation Celebrates its First Anniversary of Trading on the NYSE President and CEO William L. Transier will ring the closing bell.
Market Watch and Corporation Actions
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