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 54 points and S&P futures are trading up 5 points. G-20 leaders will be meeting in France today, and Greece will be the focus following a decision by Prime Minister, George Papandreou to put the recently agreed upon rescue plan to a referendum. European leaders have asked Greece to make a decision as to whether it wants to stay in the European Union or not. Investors are concerned, if Greece defaults and exits the union, there will be spillover effects to other countries in the periphery including Italy and Spain.
DJIA up 178.08 pts/+1.53%/11,836.04
S&P up 19.62 pts/+1.61/1,237.90
Nasdaq up 33.02 pts/+1.27/2,639.98
Dow Futures up 54.00 pts/+0.46%
S&P Futures up 5.50 pts/+0.45%
Nasdaq Fut up 5.58 pts/+0.25%
CAC 40 +1.34%
NIKKEI 225 -2.21%
HANG SENG -2.49%
Overseas: World stock markets were mixed today. European and Asian markets were down on renewed Greek troubles and uncertainty in the European Union.
Economic Reports: Jobless Claims expected to be 400K & Productivity and Costs expected to be 2.5% 8:30 a.m. Factory Orders expected to be -0.2% & ISM Non-Mfg Index expected to be 53.5 at 10:00 a.m.
Gold:up $3.10 to $1,742.85
Oil:up 0.61 to $93.12
EUR/USD 1.3796 +0.0084
USD/JPY 78.0160 -0.1010
GBP/USD 1.6013 +0.0085
Volatility Index (VIX): As of the close of business Wednesday, November 2, the VIX is down 2.03 at 32.74
Companies Reporting Quarterly Earnings:
Lamar Advertising (LAMR): Q3 EPS of $0.04 misses by $0.03. Revenue of $297M (+4% Y/Y) beats by $5M.
Tyco Electronics (TEL): FQ4 EPS of $0.89 beats by $0.04. Revenue of $14.3B (+25% Y/Y).
Tenaris (TS): Q3 EPS of $0.55 beats by $0.26. Revenue of $2.5B (+23% Y/Y).
Western Refining (WNR): Q3 EPS of $1.37 beats by $0.09. Revenue of $2.3B (+44% Y/Y) beats by $0.1B.
Cimarex Energy Co (XEC): Q3 EPS of $1.49 beats by $0.01. Revenue of $420M (+15% Y/Y) misses by $5M.
Magna International (MGA): Q3 EPS of $0.94 misses by $0.05. Revenue of $6.9B (+21% Y/Y) beats by $0.2B.
Suncor Energy (SU): Q3 EPS of $1.14 beats by $0.29.
Canadian Natural Resource (CNQ): Q3 EPS of $0.65 beats by $0.01. Revenue of $3.29B (+8% Y/Y).
Fortress Investment Group LLC (FIG): Q3 EPS of -$0.82 misses by $0.74. Revenue of $195M (+20% Y/Y) beats by $35M.
Spectra Energy (SE): Q3 EPS of $0.38 misses by $0.01. Revenue of $1.12B (+10% Y/Y) misses by $30M.
Today’s Opening and Closing Bells:
New Media Strategies visits the NYSE to mark the first-ever “Social Media Day” at the NYSE. Pete Snyder, CEO and Founder of New Media Strategies (NMS) will ring the opening bell.
Kimco Realty Celebrates 20 Years of Trading on the NYSE Co-Founder and Executive Chairman, Milton Cooper, and Vice Chairman, President and CEO, David Henry, will ring will ring the closing bell.