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 down 13 points and S&P futures are trading down 2 points. The threat of a civil war in Ukraine and disappointing quarterly results from IBM and Google might unnerve investors already shaken by a strong recent selloff in tech stocks. Since early March, the tech-heavy sector has declined over 6%, underscoring the challenges internet and IT companies face as corporate results are due this week. IBM blamed lower than expected earnings on weak demand from emerging markets, while Google reported margins narrowed on declining advertising. Reports indicate pro-Russian forces attacked a Ukrainian national guard base overnight and Kiev said three separatists were killed. Fed Chair, Janet Yellen said achieving the central bank's economic goals "will likely require low real interest rates for some time."
DJIA up 162.29 pts/+1.00%/ 16,424.85
S&P up 19.33 pts/+1.05%/ 1,862.31
Nasdaq up 52.06 pts/+1.29%/ 4,086.23
Dow Futures down 13.00 pts/-0.08%
S&P Futures down 2.25 pts/-0.06%
Nasdaq Futures up 5.75 pts/+0.16%
CAC 40 +0.15%
NIKKEI 225 -0.01%
HANG SENG +0.28%
Overseas: Global stock markets are mixed today. European and Asian markets are lower over the threat of civil war in Ukraine and disappointing manufacturing data from Germany, following weaker than forecasted corporate results from US companies.
Economic Reports: Jobless Claims (312K expected) at 8:30 a.m.; Philadelphia Fed Survey (10.0 expected) at 10:00 a.m.
Gold:down $2.40 to $1,302.30
Oil:up $0.03 to $103.81
EUR/USD 1.3858 +0.0043
USD/JPY 102.1550 -0.0890
GBP/USD 1.6809 +0.0012
Volatility Index (VIX): As of the close of business Wednesday, April 16, 2014 the VIX is down 0.50 at 15.61.
Companies Reporting Quarterly Earnings:
Goldman Sachs reports Q1 EPS $4.02, vs. Est $3.49 and Q1 revenue $9.33B, vs. Est $8.7B.
Blackstone reports Q1 ENI 70c, vs. Est 55c and Q1 revenue $1.51B, vs. Est $1.26B.
Honeywell reports Q1 EPS $1.28, vs. Est $1.26 and Q1 revenue $9.68B, vs. Est $9.74B.
Today’s Opening and Closing Bells:
Leju Holdings Limited(LEJU) will visit the New York Stock Exchange (NYSE) to celebrate the company’s IPO. To mark the occasion Chairman, Mr. ZHOU Xin, and Chief Executive Officer, Mr. HE Yinyu, will ring the Opening Bell.
CONSOL Energy will visit the New York Stock Exchange (NYSE) to mark the company’s 150th anniversary of founding. CONSOL Energy is also celebrating 15 years of trading on the NYSE.
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