Stocks are set to rise this morning after ending the day flat
yesterday as investors await more housing indicators and corporate
) shares gained 24% after it reported better-than-expected earnings
yesterday. The streaming company added 3 million subscribers over
the quarter as original program
House of Cards
sweetened the deal. Earnings per share were $0.31, $0.11 higher
than estimates. Revenue fell in line with forecasts at $1.02
billion. The stock more than doubled since the start of the year.
The big announcement this morning will be
) earnings. Analysts whittled their estimate for the tech giant to
$10.07 per share, though revenue probably rose. If Wall Street is
right, this will be Apple's first decline in quarterly profit in a
decade. While the stock is already down over 40% from its high last
fall, it could be punished even further if today's report
disappoints. The stock added $4.23, or 1% this morning before the
), America's most valuable chemical company, rose 0.58% this
morning as seeds and pesticides profit boosted earnings. EPS came
in at $1.56 per share, beating estimates by $0.03.
Manufacturing data in both China and Germany disappointed.
) Chinese flash PMI fell to 50.5 this month from 51.6 in March,
just barely clearing the threshold of 50 that signals growth in the
sector. HSBC blamed the pullback on a fall in new export orders.
German manufacturing PMI unexpectedly widened its contraction to
47.9 from 49 and services dropped to 49.2 from 50.9. French PMI
came in better than expected, however at 44.4 from 44 last month.
European stocks soared overnight and Chinese shares ended the day
After all three major US indices ended the day dead flat, futures
are pointing towards a somewhat higher open this morning.
(INDEXDJX:.DJI) futures are up 0.46% at 14,565 and
(INDEXSP:.INX) futures rose 0.37% to 1,561.60.
(INDEXNASDAQ:.IXIC) futures advanced 0.60% to 2,814.00.
On today's economic calendar, we will see March new home sales at
10:00 a.m. Economists predict that sales sped up to a seasonally
adjusted annualized rate of 419,000 from 411,000 in February.
Yesterday, we learned that existing homes sold at a yearly rate of