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 11 points and S&P futures are trading up 2 points. Traders will be focusing on resource related companies once again as commodities continue to slide, silver, copper, and crude oil are all trading down. Crude oil is currently trading at about $97 a barrel. Also, Traders will be watching for developments in Europe following a strike by state employees in Portugal after the caretaker government accepted a 78 billion euros bailout plan to avert the country from going into bankruptcy.
DJIA down 139.41 pts/-1.10%/12,584.17
S&P down 12.22 pts/-0.91%/1,335.10
Nasdaq down 13.51 pts/-0.48%/2,814.72
Dow Futures up 11.00 pts/+0.09%
S&P Futures up 2.30 pts/+0.15%
Nasdaq Fut up 2.75 pts/+0.12%
CAC 40 +0.09%
NIKKEI 225 -1.45%
HANG SENG -0.44%
Overseas: World stock markets were down today. European markets are down on lower commodity prices. Asian markets were down on signs the recovery in the U.S. is slowing down.
Economic Reports: Employment Situation is expected to be 198,000 @8:30 a.m. & Productivity and Costs expected to be $5.0 billion @ 3:00 a.m.
Gold:up $12.72 to $1,486.85
Oil:down $1.92 to $97.56
EUR/USD 1.4528 -0.0014
USD/JPY 80.3150 -0.0100
GBP/USD 1.6412 +0.0018
Volatility Index (VIX): As of the close of business Thursday, May 5, the VIX is up 1.12 pts to 18.20
Companies Reporting Quarterly Earnings:
Constellation Energy Group (CEG): Q1 EPS of $0.63 beats by $0.33. Revenue of $3.57B (-0.5% Y/Y) misses by $0.55B.
Royal Bank of Scotland (RBS): Q1 loss of £528M, far worse than the -£14.4M consensus.
Today’s Opening and Closing Bells:
China’s NetQin Mobile Inc. Celebrates IPO on the NYSE, CEO, Chairman and Co-Founder Dr. Henry Yu Lin will ring the opening bell.
FORTUNE Magazine is Celebrating the release of the Fortune 500 list -- 84% of the publicly traded companies are listed on the NYSE. Managing Editor Andy Serwer, Jed Hartman, and Hank Gilman will ring the closing bell.