Stock futures were slightly lower this morning as investors
continue to worry about the future of monetary stimulus after
upbeat economic data.
Before the opening bell today,
(INDEXDJX:.DJI) futures were down 0.16% to 16,000. After reaching
an all-time record yesterday,
(INDEXSP:.INX) futures fell 0.13% to 1,806.70 and futures on the
(INDEXNASDAQ:.IXIC) sank 0.11% to 3,514.75. Spot gold rose 1.1% to
Later today, the Bureau of Labor Services will release October's
job openings and labor turnover survey (JOLTS), a less
attention-grabbing but important employment indicator. The headline
job openings number is expected to fall slightly to 3.905 million
from 3.913 million. Wholesale trade in October, the total value of
merchants' wholesale stocks, is expected to print a rise of 0.4%.
After rising more than 9% and hitting an all-time high yesterday,
) shares fell 1% in pre-market trading. The company's valuation
soared yesterday after it announced a new advertising offering
called Tailored Audiences. It will let advertisers more accurately
target users based on Web history.
The US government has sold its last remaining stake in
), leaving it with a $10.5 billion loss for bailing out the
automaker. During the crisis, the Treasury invested $49.5 billion
into the company, but only took $39 billion out.
) named Laurent Potdevin, formerly of TOMS Shoes, to replace
Christine Day as CEO. Dennis Wilson, who recently commented that
the company's yoga products aren't for all body types, will step
down as chairman.
Some encouraging data from China helped lift markets worldwide.
Industrial production in November grew by 10% year-over-year,
meeting expectations. Retail sales were better than forecast,
European countries reported somewhat lackluster industrial
production numbers. France fell 0.3% month-over-month, missing
expectations of a 0.2% rise. Italian industrial production rose
0.5%, and the UK rose 0.4%, both beating estimates. Italy's economy
also ended two years of recession in the third quarter as GDP
US regulators are ready to unveil the details of the Volcker Rule,
the prohibition against proprietary trading by banks. The rule is
likely to finally be approved today.