Stocks are set to rebound today as unrest continues in Greece
and tech titans battle for government contracts.
After heavy losses yesterday,
(INDEXDJX:.DJI) futures were up 0.50% at 15,214 this morning before
the opening bell.
(INDEXSP:.INX) futures also rose 0.56% to 1,636.20 and contracts on
(INDEXNASDAQ:.IXIC) index climbed 0.46% to 2,997.25.
Ahead of today's Energy Information Administration petroleum
inventory report, West Texas Intermediate oil futures are down just
0.07% at $95.31/barrel.
Japanese shares fell overnight as machinery orders fell 8.8%
month-over-month in April after March's 14.2% rise. This
worse-than-expected indicator shows that companies are still
skittish about capital expenditures despite the government's
European indicies were up slightly today. Inflation figures for
Europe also came out today, confirming that some areas of the
eurozone are at risk of deflation. German consumer prices rose 0.4%
in May, logging a 1.5% year increase in inflation. French prices
were up just 0.1% monthly, 0.8% year-over-year and Italian CPI was
dead flat from April, but up 1.1% from May 2012. Eurozone
industrial output rose for the third straight month in April,
rising 0.4% where a drop was expected.
) same-store sales in China fell 19% on a yearly basis last month
as customers fear avian flu from poorly handled poultry. This was
better than April's 29% drop. Yum derives more than half of its
revenue from China, where KFC is usually very popular.
) shares fell 5.4% in the pre-market, extending yesterday's losses
after the company offered another 8.5 million public shares.
Institutional Shareholder Services recommended that
Sprint Nextel Corporation
) shareholders support
(TYO:9984) recently sweetened offer for a controlling stake in the
company. The Japanese company offered $21.6 billion for 78% of
Wall Street Journal
International Business Machines Corp.
) successfully protested the Central Intelligence Agency's awarding
a cloud computing contract to
). The $600 million contract to connect the broader intelligence
community is part of the Defense Department's $35 billion yearly
tech budget, which is a more necessary source of revenue for tech
providers whose private clients are cutting back. The CIA
originally awarded the contract to Amazon Web Services, but the
Government Accountability Office agreed with IBM's protests
yesterday. The CIA could reopen negotiations within the next 60
Greece was given the dubious honor of being the first country to be
demoted from "developed" to "emerging" by MSCI, the global mutual
fund provider. This comes amidst protests over the government's
closure of a popular public news broadcaster.