Markets Capitalize on Sidelined Fed, Cheap Energy, Upbeat Earnings

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Stock futures are shaking off yesterday's late sell-off and have climbed back into positive territory this morning, buoyed by falling energy prices, bullish earnings and hopes that the Institute for Supply Management Index and Fed officials speaking today will re-affirm the Fed's commitment to easy money.

European markets were mixed with the FTSE up marginally despite a small decline in UK manufacturing, but other markets lower in sympathy with yesterday's lower close in the U.S.

In Asia, the Nikkei slid into the red following disappointing earnings from Sony ( SNE ) and on recent gains in the yen versus the dollar and euro.

-Dow Jones Industrial up 0.25%

-S&P 500 futures up 0.23%

-Nasdaq 100 futures up 0.22%

SENTIMENT

Nikkei down 0.88%

Hang Seng up 0.19%

Shanghai Composite up 0.37%

FTSE-100 up 0.12%

DAX-30 down 0.17%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: mixed

(-) Financial stocks: lower

(+/-) Retail stocks: flat

(+) Industrial stocks: higher

(+) Airlines: higher

(+) Autos higher

UPSIDE MOVERS:

FSLR (+8.97%) Reported record quarterly net sales of $1.3 billion, a gain of $746 million from last quarter.

ACAD (+4.29%) Data from a Phase 3 study with pimavanserin in patients with Parkinson's disease psychosis showing the treatment demonstrated significant and clinically meaningful benefits and was safe and well tolerated.

NFLX (+2.64%) RW Baird upgraded the stock to Outperform from Neutral and raised the price target 10%

DOWNSIDE MOVERS:

ELLI (-19.72%) Q3 EPS of $0.25 missed the Capital IQ consensus estimate of $0.30. Revenues of $33 million also fell short of the consensus of $34.4 million.

AIG (-4.45%) Reported earnings that were in-line with estimates, but revenue was below consensus.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: SNE

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