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 79 points and S&P futures are trading up 8 points despite Standard & Poor's downgrade of Italy to A from A+ and kept its outlook on negative citing lower growth and political uncertainty. The downgrade will increase strains on the debt laden Euro zone and add pressure on policy makers to take more decisive action to resolve the financial crisis. The Federal Reserve will begins its two-day meeting today, with a decision expected on Wednesday afternoon on operation twist. Investors are speculating the agency will provide additional stimulus.
DJIA down 108.08 pts/-0.94%/11,401.01
S&P down 11.92 pts/-0.98/1,204.09
Nasdaq down 9.48 pts/-0.36/2,612.83
Dow Futures up 79.00 pts/+0.70%
S&P Futures up 8.30 pts/+0.73%
Nasdaq Fut up 20.58 pts/+0.89%
CAC 40 +1.22%
NIKKEI 225 -1.61%
HANG SENG +0.51%
Overseas: World stock markets were up today. European and Asian markets were up after debt discussions in Europe were positive and investors speculated the Fed will provide additional stimulus.
Economic Reports: Housing Starts expected to be 0.592M at 8:30 a.m.
Gold:up $14.10 to $1,790.85
Oil:up $0.89 to $86.59
EUR/USD 1.3685 +0.0010
USD/JPY 76.4950 -0.0700
GBP/USD 1.5698 +0.0005
Volatility Index (VIX): As of the close of business Monday, September 19, the VIX is up 1.75 at 32.73
Companies Reporting Quarterly Earnings:
AutoZone (AZO): FQ4 EPS of $7.18 beats by $0.22. Revenue of $2.6B (+8.1% Y/Y) in-line.
ConAgra Foods (CAG): FQ1 EPS of $0.29 misses by $0.02. Revenue of $3.07B (+9.5% Y/Y) beats by $120M.
Today’s Opening and Closing Bells:
Latour Trading, LLC to celebrate their NYSE and NYSE Amex Equity Membership. David Faucon, CEO along with employees and guests will ring the opening bell.
Leaders from the Center for Work-Life Policy (CWLP) “Winning the War for Talent in Emerging Markets: Why Women Are the Solution” (Harvard Business Review), co-written by Dr. Sylvia Ann Hewlett, Chairman and Founding President, CWLP, and Ripa Rashid, Executive Vice President, CWLP. will ring the closing.