Stock Futures Recover As Putin Dismisses Splitting of Ukraine

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Stock futures erased overnight losses following conciliatory comments from Russian President Vladimir Putin concerning the annexation of Crimea. Gains, however, are vulnerable to profit-taking as investors remain wary of Russia's plans for Ukraine.

This morning's economic data had little impact on the markets with February CPI meeting expectations for a benign 0.1% in both the nominal and core index.

The housing data was mixed--starts fell 0.2% versus the consensus estimate for a 3.4% gain, but permits increased a much greater than expected 7.7% to an annual pace of 1.18 mln units.

The FOMC begins its two-day policy meeting today, expected to result in another $10 bln reduction in quantitative easing at Wednesday's conclusion.

-Dow Jones Industrial up 0.35%

-S&P 500 futures up 0.36%

-Nasdaq 100 futures up 034%

SENTIMENT

Nikkei up 0.94%

Hang Seng up 0.51%

Shanghai Composite up 0.08%

FTSE-100 down 0.22%

DAX-30 down 0.49%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: flat

(+) Financial stocks: higher

(+) Retail stocks: mixed

(+) Industrial stocks: higher

(+) Airlines: higher

(+) Autos higher

UPSIDE MOVERS:

(+) RNA (+26.0%) Reported "meaningful improvement" in data from a study for drisapersen, a Duchenne muscular dystrophy treatment.

(+) ADXS (+10.2%) Received a Japanese patent for its ADXS-HPV for use in the treatment of late-stage cervical cancer.

DOWNSIDE MOVERS:

(-) OXBT (-6.7%) Prices $52 mln stock offering at discounted $5.60 per share

(-) GALE (-12.11%) Missed Q4 earnings estimates

(-) GME (-6.0%) Wal-Mart plans to start buying used video games to compete with Game Stop



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

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