U.S. equity index futures were lower this morning. S&P 500 futures were down 34 points at 8:35 AM EDTIndex futures dropped sharply in overnight trade on concerns that Deutsche Bank was experiencing financial distress. Deutsche Bank dropped $1.20 to $8.14 in overnight trade.Index futures were virtually unchanged following release of the February Durable Goods Order report at 8:30 AM EDT. Consen...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 18 points at 8:30 AM EDT.KB Homes advanced $1.00 to $37.80 after reporting higher than consensus fiscal first quarter revenues and earnings. Steelcase added $0.42 to $7.60 after reporting higher than consensus quarterly earnings. The company also offered positive guidance. Darden Restaurants gained $2.05 to $153.10 aft...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 4 points at 8:30 AM EDT.Focus today is on the FOMC announcement on monetary policy released at 2:00 PM EDT. Consensus is calling for another 0.25% increase in the Fed Fund Rate for a target range of 4.75%-5.00%. Federal Reserve Chairman Powell will offer additional guidance at a press conference at 3:00 PM EDT.Nike dr...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 32 points at 8:30 AM EDT.Economic news released at 8:30 AM EDT could influence opening equity prices in Canada:February Canadian Consumer Price Index was expected to increase 0.7% versus a gain of 0.5% in January. Actual was an increase of 0.4%. On a year-over-year basis, February CPI was expected to increase 5.4% vers...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point at 8:30 AM EDT. Concerns about Credit Suisse' viability was relieved after UBS acquired the company for $3.2 billionCF Industries slipped $0.43 to $70.50 after announcing acquisition of an ammonia plant in Louisiana for $1.675 billion.Foot Locker added $0.03 to $42.29 after reporting higher than consensus fourth...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points at 8:30 AM EDT. FedEx advanced $23.55 to $227.60 after reporting higher than consensus fiscal third quarter earnings. The company also raised guidance for the fourth quarter. Groupon dropped $0.32 to $4.58 after reporting lower than consensus fourth quarter revenues and a larger than consensus fourth quarter...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of the March Philly Fed Index and February Housing Starts at 8:30 AM EDT. Consensus for the Philly Fed Index was -7.50 versus -5.80 in February. Actual was -23.2. Consensus for February Housing Starts was 1.430 million units. Actual wa...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 18 points in pre-opening trade. Index futures moved lower following release of the February inflation report at 8:30 AM EDT. February Consumer Price Index was expected to increase 0.4% versus a gain of 0.5% in January. Actual was an increase of 0.4%. On a year-over-year basis, February CPI was expected to increase 6.0%...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 75 points in pre-opening trade. Index futures turned lower in overnight trade on news of liquidity concerns at Credit Suisse. Credit Suisse dropped $0.41 to $1.81. Index futures moved slightly lower following release of a series of U.S. economic news at 8:30 AM EDT:February Producer Price Index was expected to increas...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.Index futures weakened despite regulatory authorities taking control of Silicon Valley Bank after the bank experienced a run on its assets. First Republic Bank plunged $49.26 to $32.50 on solvency concerns. Seagen advanced $31.79 to $204.40 after Pfizer offered to acquire the company at...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were added 12 points in pre-opening trade. Index futures rallied following release of the U.S. February Employment Report at 8:30 AM EST. Non-farm Payrolls were expected to increase 205,000 versus a gain of 517,000 in January. Actual was an increase of 311,000. February Unemployment Rate was expected to remain at 3.4% set in J...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. Eli Lilly slipped $1.50 to $311.04 on news that its proposed drug aimed at preventing Alzheimer failed to slow down cognitive declineAmerican Express gained $3.09 to $177.86 after the company announced a 15% increase in its dividend. JD.com dropped $1.64 to $45.23 after reporting less th...Read More
(Corrects spelling of Rag in the last paragraph) By Divya Rajagopal TORONTO, March 8 (Reuters) - BHP Group Ltd onWednesday said it remains committed to growing its portfolio ofcopper and nickel projects but is not interested in the lithiummarket, which it believes is well supplied. The comments echo those the world's largest mining companymade in the past year and come as lithium prices have been...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. January U.S. Trade released at 8:30 AM EST was expected to increase to a deficit of $69.00 billion from a deficit of $67.40 billion in December. Actual was a deficit of $68.3 billionFederal Reserve Chairman Powell testifies on monetary policy in front of a House Committee at 10:00 AM EST....Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. Traders are waiting for testimony on U.S. monetary policy in front of the U.S. Senate Banking Committee by Federal Reserve Chairman Jerome Powell starting at 10:00 AM EST. Dick's Sporting Goods added $6.66 to $138.80 after reporting higher than consensus fourth quarter revenues and earnin...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade.Apple added $1.83 to $152.86 after Goldman Sachs initiated coverage with a Buy rating. Target price is $199.KB Homes dropped $0.50 to $35.26 after JP Morgan dropped its rating from Overweight to Underweight.DR Horton dropped $1.63 to $91.15 after JP Morgan downgraded the stock from Overwei...Read More
(Updates prices) LONDON, March 3 (Reuters) - Copper prices on Fridayheaded for their biggest weekly gain since early January asstrong economic data in top consumer China raised demand hopes.Benchmark copper on the London Metal Exchange (LME)was roughly unchanged at $8,956.50 a tonne at 1717 GMT and uparound 2.8% for the week.Prices hit a seven-month high of $9,550.50 in January butstalled amid sl...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Trader interest is expected to focus on response to of the February ISM Non-manufacturing Purchase Managers Index released at 10:00 AM EST. Consensus calls for a drop to 54.5 from 55.2 in January.Costco dropped $9.75 to $475.94 after the company reported less than consensus quarterly rev...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points in pre-opening trade.Salesforce.com, A Dow Jones Industrial Average stock jumped $24.20 to $191.55 after the company offered positive guidance. In addition the company announced a $20 billion stock buyback program.Splunk, a NASDAQ 100 stock dropped $3.48 to $99.00 despite reporting higher than consensus four...Read More
(Updates prices) LONDON, March 1 (Reuters) - Prices of copper and otherindustrial metals rose on Wednesday after data from China, thebiggest metals consumer, showed manufacturing activity rose inFebruary at the fastest pace in more than a decade. Also lifting metals was a fall in the value of the dollar,including against China's yuan, making dollar-priced metals moreaffordable for buyers holding...Read More