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 25 points and S&P futures are trading up 3.5 points. There was little mention of Europe yesterday as investors seemed cheered over a positive earnings season to date, despite a few misses yesterday, and encouraging new home sales results. Continued cheer over US earnings and optimism over the pending GDP numbers are driving futures this morning.
DJIA up 113.90 pts/+0.87% to 13,204.62
S&P up 9.29 pts/+0.67% to 1,399.98
Nasdaq up 20.98 pts/+0.69% to 3,050.61
Dow Futures up 23.00
S&P Futures up 3.50
Nasdaq Fut up 11.00
CAC 40 +28.35/+0.88%
NIKKEI 225 -40.94/-0.43%
HANG SENG -68.26/-0.33%
Overseas: World stock markets were mixed today. European markets shrugged off an S&P downgrade of Spain thanks to strength in construction and material stocks lead by encouraging sales results from construction firm Vinci. Asian stock were lower after the Bank of Japan's move to boost its bond buying failed to promote confidence among investors over the fragile economy.
Economic Reports: Employment Cost Index expected to be +0.5%, QoQ GDP change estimated at +2.5% and Personal Consumption estimated at +2.3% at 8:30 a.m.
Gold: down $6.40 to $1,654.10
Oil: down $0.38 to $104.17
EUR/USD: +0.0048 to 1.3235
USD/JPY: -0.32 to 80.71
GBP/USD: +0.0046 to 1.6223
Volatility Index (VIX): As of the close of business Thursday, April 26, the VIX is down 0.58 at 16.24
Companies Reporting Quarterly Earnings:
Amazon (AMZN) reported EPS of $0.28 vs. estimates of $0.07; revenue was $13.18 billion, better than the $12.9 billion expected by analysts.
Procter & Gamble Co. (PG) reported adjusted EPS of $0.94 vs. estimates of $0.93; revenue was $20.19 billion, slightly lower than the $20.32 billion expected by analysts.
Ford (F) reported adjusted EPS of $0.39 vs. estimates of $0.35; revenue was $32.4 billion, better than the $31.27 billion expected by analysts.
Merck (MRK) reported adjusted EPS of $0.99 vs. estimates of $0.98; revenue was $11.7, lower than the $11.82 billion expected by analysts.
Today’s Opening and Closing Bells:
Acquity Group Ltd. (NYSE:AQ) Execute Vice President, Matt Schmeltz will ring the Opening BellTM in honor of the company’s IPO.
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