Wall Street may be headed for another day of losses as Federal
Reserve members struck a hawkish tone and global equities declined.
Stock futures were lower ahead of the opening bell.
(INDEXDJX:.DJI) futures were down 0.36% at 15,418. Futures
contracts on the
(INDEXSP:.INX) sank 0.35% to 1,688.00 and
(INDEXNASDAQ:.IXIC) futures fell 0.26% to 3,109.75.
Chicago Fed President Charles Evans spooked investors yesterday
when he said he would "clearly not rule out" winding down asset
purchases as soon as September. Evans is usually seen as a more
dovish Fed chief. Today, the Philadelphia Fed's Charles Plosser and
Cleveland's Sandra Pianalto will both deliver speeches.
Evans' comments battered global stocks. Japan's
(INDEXNIKKEI:NI225) fell 4% as the dollar strengthened against the
yen. Hong Kong's
(INDEXHANGSENG:HSI) also dropped 1.53% on Wednesday.
Major european stock indices are also solidly in the red, led by
(INDEXFTSE:UKX). Today, the Bank of England announced that it will
tie interest rates to unemployment. It will keep rates low until
the jobless rate falls below 7%, but this threshold is not set in
stone. As the jobless rate is currently 7.8%, rates will remain at
the record low of 0.5%.
After the closing bell today, several major firms will report
) is expected to report $0.19 per share in earnings with $387.9
million in revenue. The automaker launched in several European
markets over the quarter, and those expenses could weigh on it.
) will also report after the bell. Analysts expect adjusted profit
of $0.04 per share on $594 million in sales. Data from comScore,
which tracks Web traffic, showed that Groupon's visitors increased
by 7% over the quarter after declining in the first three months of
the year. The company still lacks a permanent CEO after founder
Andrew Mason was ousted.
) net profit increased by 87% in the second quarter, thanks in part
to successful movies such as
Man of Steel
The Hangover Part III
. Adjusted earnings per share of $0.83 beat Wall Street's