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 24 points and S&P futures are trading up 4 points. Investors’ appetite for riskier assets is on the rise, following a better than expected Spanish bond auction while French costs declined at an auction, easing concern that the countries will struggle to finance their borrowings. Investors are optimistic the European Central Bank will unveil further monetary easing, despite an increase in inflation when it meets in Barcelona today. Currently euro zone inflation is 2.6%, above the ECB's target of 2%.
DJIA down 10.75 pts/-0.08%/13,268.57
S&P down 3.51 pts/-0.25/1,402.31
Nasdaq up 9.41 pts/+0.31/3,059.85
Dow Futures up 24.00 pts/+0.19%
S&P Futures up 3.40 pts/+0.11%
Nasdaq Fut 7.22 pts/+0.27%
CAC 40 +1.29%
NIKKEI 225 +0.31%
HANG SENG -0.28%
Overseas: World stock markets were up today. European and Asian markets are higher on better than expected Spanish and French bond auctions.
Economic Reports: Initial Jobless Claims expected to be 378K, Productivity and Costs expected to be -0.4% at 8:30 a.m. and ISM Non-Mfg Index expected to be 56.0 at 10:00 a.m.
Gold:down $8.10 to $1,645.85
Oil: down 0.24 to $104.98
EUR/USD 1.3134 -0.0018
USD/JPY 80.3350 +0.2200
GBP/USD 1.6179 -0.0020
Volatility Index (VIX): As of the close of business Wednesday, May 2, the VIX is up 0.28 at 16.88
Companies Reporting Quarterly Earnings:
General Motors reports Q1 adjusted EPS 93c, vs. Est 85c and Q1 revenue $37.8B, vs. Est $37.59B.
Cardinal Health reports Q3 EPS 94c, vs. Est 88c and Q3 revenue $26.9B, vs. Est $26.71B.
Alpha Natural reports Q1 EPS (27c), vs. Est (6c) and Q1 revenue $1.93B, vs. Est $1.90B
Today’s Opening and Closing Bells:
Everbank Financial Corp. (EVER) will ring the opening bell.
NovaCopper Visits the NYSE Mr. Rick Van Nieuwenhuyse, President & CEO will ring the closing bell.
Market Watch and Corporation Actions
(212) 656- 5404
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