Stock futures are falling today as investors await more speeches
by Federal Reserve members for clues about the future of
After falling yesterday, index futures were lower this morning.
(INDEXDJX:.DJI) futures were down 0.37% at 15,652.00 while futures
(INDEXSP:.INX) fell 0.36% to 1,758.70.
(INDEXNASDAQ:.IXIC) futures climbed 0.39% to 3,351.50.
No major US economic announcements are scheduled today, but
Cleveland Federal Reserve President Sandra Pianalto and Fed
Chairman Ben Bernanke will deliver speeches that could draw the
) CEO Elon Musk said yesterday that the company is absolutely not
considering a product recall for the Model S despite three recent
reports of battery fires.
"If you read the headlines, it sounds like Teslas have a greater
propensity to catch fires than other cars. In reality, nothing
could be further from the truth," he said at yesterday's Dealbook
conference. "We have never had a serious injury or death in any of
our cars. Maybe there is a car as safe as the Model S, but there is
certainly not a car that is safer."
Tesla shares were up 2.14% in the wake of the CEO's statement.
) shares fell 1.38% today after the company was forced to pay $2.23
billion in damages and $527 million in interest and attorney fees
). An independent arbitrator said that Starbucks improperly
terminated its contract with Mondelez, which spun off from
) a year ago.
) reported better-than expected earnings of $0.47 per share as
stronger sales boosted the department store's bottom line.
Comparable sales were up 3.5%.
Shares were down across Europe and Asia as well. Eurozone
industrial production fell 0.5% in September. From a year earlier,
production was down 1.1%. Only the energy sector showed positive
growth. Production in France and Germany declined 0.4% and 0.8%,
respectively. Italy grew by 0.2%, and Spain grew by 0.4%.
Japanese machine orders fell by more than expected in February.
Orders fell 2.1% on a monthly basis, but were up 13% from a year
earlier, which is not encouraging as the government is flooring
economic stimulus. The consumption tax is slated to rise in April,
which might be discouraging capital expenditures.
The Bank of England said that the country might meet 7%
unemployment by the third quarter of next year, a bit sooner than
previously expected. Once the economy reaches that threshold, the
central bank said that it would consider pushing interest rates up.
Unemployment in the UK fell to 7.6% in September from 7.7% in