Melly Alazraki
Toronto, Canada - http://
Before the bell: Futures fall ahead of employment data
U.S. stock futures were lower Thursday morning, the last day of trading in this shortened week and ahead of the holiday weekend. Investors this morning will turn their attention to the June jobs report for clues on whether the economy can continue to recover. At 8:30 this morning two jobs report are going to be released. The weekly initial jobless claims report and June nonfarm payroll statistics. Economists surveyed by Bloomberg expect employers in the U.S. probably cut an additional 365,000 jobs in June. If the data comes out as expected it would be evidence the stimulus plan has helped the labor market. In addition, the unemployment rate likely climbed to 9.6 percent, the highest since 1983. Unemployment is projected to keep rising for the rest of the year. [Update: Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent.]
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Before the bell: Futures higher ahead of employment, manufacturing, housing data
U.S. stock futures were higher Wednesday morning as stocks were ready to start off the third quarter on a positive note. However, several key economic reports are due out this morning, including reports on manufacturing, employment and housing. Recently, manufacturing has shown improvement in other parts of the world.Stocks finished the second quarter Tuesday on a down note, but that couldn't erase the advances indices made during the quarter with the Dow Jones Industrial Average finishing the second quarter up 11 percent, the S&P 500 rose 15 percent and the Nasdaq Composite advanced 20 percent.
Continue reading Before the bell: Futures higher ahead of employment, manufacturing, housing data
Before the bell: Futures higher ahead of housing, confidence data
U.S. stock futures were higher Tuesday morning, indicating that on the last day of the second quarter and first half of 2009 Wall Street is poised to start on a positive tone. Seems investors were ready to extend the biggest rally stocks have staged in a quarter in about a decade . Investors this morning also await several economic indicators -- including housing and consumer confidence -- due out later this morning, hoping further signs the economy have stabilized are in the cards and a recovery is ahead in the second half of the year.At 9:00 a.m. EDT, the Conference Board will release the June Consumer Confidence index, which is expected to have risen to 55.3 from 54.9, according to Briefing.com. The housing sector will also be in focus as at the same time the S&P/Case Shiller 20-city home price index for April is expected to show a decline from the year ago period. FInally, at 9:45 a.m., June's Chicago PMI, a regional manufacturing index, is expected to show it rose in June.
Continue reading Before the bell: Futures higher ahead of housing, confidence data
Before the bell: Futures advance slightly as Madoff sentencing in focus
U.S. stock futures edged higher Monday morning. As investors start taking toll of the first half ending tomorrow, today many will focus on the sentencing of Bernard Madoff for his multi-billion dollar Ponzi scheme. Investors will also gear up for several key economic reading coming later in this shortened holiday week.The Bernard Madoff's sentencing hearing, coming six months after the scandal came to light, will take front stage today. Madoff masterminded a multibillion dollar Ponzi scheme that wiped out fortunes, ruined charities and foundations, and even pushed some investors to commit suicide. His lawyer insists 12 years in prison is enough, while prosecutors demand a 150-year sentence fort he 71-year-old.
Continue reading Before the bell: Futures advance slightly as Madoff sentencing in focus
Before the bell: Futures lower ahead of data
U.S. stock futures again turned lower Friday morning, indicating Wall Street could start on a down note to finish off a week of choppy trading. While Thursday stocks rallied, they've slumped most of the week, with indices still down on the week. This morning investors await reading on personal income and spending and inflation.Meanwhile, the dollar declined against other currencies after China's central bank renewed its call for a global currency that would be delinked from any one economy. The banks also said the country's financial institutions face a tougher environment this year.
Continue reading Before the bell: Futures lower ahead of data
Before the bell: Futures lower ahead of employment, GDP data
U.S. stock futures edged lower Thursday morning, as markets still looked for direction following the Federal Reserve's statement Wednesday that was somewhat mixed. This morning, investors await jobs and GDP data, as well as Fed chairman Ben Bernanke's testimony over the Bank of America (BAC)-Merrill Lynch deal.Bernanke will testify before the House Committee on Oversight and Government Reform Thursday to face questions over his role was in the Bank of America (BAC) purchase of Merrill Lynch. Documents uncovered by The Wall Street Journal indicate he may have been more involved than he admitted, prompting some membersto say that the Fed "engaged in a cover-up.
Continue reading Before the bell: Futures lower ahead of employment, GDP data
Before the bell: Stocks set to advance as OECD sees bottoming; investors await Fed statement
U.S. stock futures advanced Wednesday morning, pointing to a higher open on Wall Street, but trading is expected to be cautious as investors await the Federal Reserve policy statement this afternoon, which would also give clues about the state of the economy. Meanwhile, another group said the global recession is near a bottom, but flared up concerns over banks again. More economic data due out later this morning could the market a better sense of direction.The Organization for Economic Cooperation and Development (OECD) said Wednesday the deepest global recession in over 60 years is close to bottoming out. While this view may be more optimistic than the World Bank's or the IMF recently, the OECD has similar projections regarding the recovery, which will be weak unless governments do more to remove uncertainty over banks' balance sheets.
Before the bell: Stock futures advance as Moody's reiterates U.S. rating
U.S. stock futures advanced Tuesday morning, pointing to a higher open on Wall Street, a day after markets sold off sharply. Today is the first day of the Federal Reserve policy meeting, but a statement is not expected until tomorrow. Meanwhile, investors will look at more housing data and focus on Moody's saying it will maintain the United States' credit rating at triple-A.Moody's Investors Service said on Tuesday that the U.S. government's triple-A credit rating was safe. But echoing financial markets concers, the credit rating agency said U.S.'s rating could be at risk if Washington were unable to bring its public debt back down.
Continue reading Before the bell: Stock futures advance as Moody's reiterates U.S. rating
Before the bell: Stock futures lower after World Bank lowers forecast
U.S. stock futures were lower Monday morning, indicating stocks would begin the week on a down note as the World Bank predicted a deeper slump in 2009 and said a global recovery was 'unusually uncertain.' Meanwhile, the Federal Reserve policymakers are preparing to meet this week, but investors mostly expect no change in policy.The World Bank has cut its 2009 global growth forecast, saying the world economy will shrink by 2.9%, up from 1.7%. The bank also cut growth forecast for most countries and warned that economic damage to developing countries "has been much deeper and broader than previous crises."
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Five stocks for Father's Day from Kiplinger's ... and five more
Every year I find myself asking the same question: What to get dad for Father's Day. Well, Kiplinger's offers not to get our dads the same old presents -- another tie, another power tool -- but stocks in companies he probably likes or uses their products. That's a great idea, I thought, and decided to counter with five of my own. - Kiplinger's suggests: Diageo (NYSE: DEO), the seller of such brands as Johnnie Walker, Smirnoff, Guinness and José Cuervo. Diageo has held up better than most during the recession -- thanks to a balanced portfolio of products, with higher exposure to mid-price, mainstream brands and less exposure to ultra-premium brands. The shares look reasonably priced. At $56.01, Diageo trades at 15 times estimated June 2009 earnings of $3.82 a share. The stock yields 2.8%.
- Another to consider: Molson Coors (NYSE: TAP), the seller of such brands as Coors, Blue Moon, Pilsner and Rickard's. Beer, probably even more so than hard liquor is supposed to hold better during a recession given the cheaper price point. The company's recent quarterly profits more than doubled. The shares trade at 13 times forward earnings of $3.33 and yield 2.2%.
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Before the bell: Stocks poised for higher start as sentiment turns positive again
U.S. stock futures were higher Friday morning, pointing to a higher open for Wall Street as sentiment on the economy turned slightly more positive again following jobs data. Increasing commodity priced also helped. But as usually on a quadruple witching of expiration of options and futures session, trading could be somewhat erratic.The smartphone sector will be in focus today after BlackBerry maker Research In Motion (RIMM) reported results that beat Wall Street estimates but gave a disappointing outlook, and as Apple Inc.'s (AAPL) new iPhone launches today.
Continue reading Before the bell: Stocks poised for higher start as sentiment turns positive again
Before the bell: Stocks set for a steady start
U.S. stock futures traded in a narrow range Thursday, indicating, at least at the time investors are looking for direction and Wall Street would have a flat start. Several upcoming economic data could help give the market direction as the recent growing uncertainty about the economic recovery depressed stocks the past few days. However, the main focus for now seems to be the implications of Obama's plan for an overhaul of the financial regulatory system.The plan includes empowering the Federal Reserve to oversee the largest and most influential financial firms and creating a council of federal regulators, chaired by the treasury secretary, to monitor risk across the broader market. Also, there will be a new consumer protection agency to prevent deceptive practices by such companies as credit card lenders and mortgage brokers. Democratic leaders have committed to enacting the plan by the end of the year.
Continue reading Before the bell: Stocks set for a steady start
Before the bell: Futures mixed with financial reforms, CPI in focus
U.S. stock futures were mixed and relatively flat Wednesday morning, following two days of losses on Wall Street on concerns about the economy. Investors will look to FedEx (NYSE: FDX) results as the shipping company is often said to keep the pulse of the economy. More inflation data is due today as well.Wall Street also awaits to hear President Obama's plan to overhaul and modernize financial regulation. Obama aims to strengthen the government's authority over financial institutions, hoping a crisis such as the recent one can be averted in the future with proper regulation. Among the recommendations are new powers for the Federal Reserve; a new consumer protection agency to govern lending and credit; and new rules that would reach into currently unregulated regions of the financial markets.
Continue reading Before the bell: Futures mixed with financial reforms, CPI in focus
Before the bell: Futures higher ahead of housing, inflation, manufacturing data
U.S. stock futures advanced Tuesday morning following Monday's sharp sell-off that had stocks return to negative territory for the year as commodity prices fell. The question, ahead of the barrage of data investors await to be released this morning, whether this is the beginning of a new down cycle as some subscribe to the second dip recession school of thought, or a one-day profit-taking, healthy correction.A slew of economic indicators might help investors get a better idea of where the economy is headed and direct markets more clearly:
- At 8:30 AM, May housing starts and building permits are due out, both expected to be higher than April's rates
- At the same time, inflation at the wholesale level, or PPI is expected to have risen 0.6% in May, according to Briefing.com, compared to an increase of 0.3% in April. Core CPI, which excludes the volatile food and energy prices, is expected to edge up 0.1%, same as in April. Inflation has been in focus lately as some fear it could spike.
- Finally, at 9:15 AM, two manufacturing indicators are due out: May industrial production and capacity utilization.
Continue reading Before the bell: Futures higher ahead of housing, inflation, manufacturing data
Before the bell: Stocks to open sharply lower on economic concerns
U.S. stock futures declined significantly Monday morning, pointing to a sharply lower open on Wall Street. Investors were concerned about falling commodity prices and the rising dollar as well as economic worries. That's after over the weekend G-8 finance ministers discussed ending, or even reversing stimulus as rebound signs grow. Meanwhile, President Barack Obama is ready to roll out an overhaul of the rules of the financial system, proposing the most ambitious revision since the Great Depression of the 1930s. The goal is to prevent a recurrence of the latest economic crisis.The regulatory changes are set to be announced Wednesday and are designed to be permanent.
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Comfort Zone Investing: Survival of the fittest -- letting some banks fail
Three All-American stocks for portfolio fireworks
Michael Jackson fireworks, the workaholic
