Stock futures are mixed this morning after yesterday's deep
sell-off with only slim losses for the Dow and S&P futures and
the Nasdaq trading unchanged to slightly higher. Geo-political
turmoil, however, continues threaten any rebound in prices as
traders nervously eye developments tied to Syria, the debt ceiling
and Fed tapering. And although today's housing data is expected to
show a contraction in pending home sales, a surprise to the upside
could also spook investors if statistics provide the Fed with
ammunition to restrict liquidity.
Overseas markets were all lower following the lead of the U.S.
market on Tuesday. Higher fuel prices coupled with the expectation
for a military strike by the U.S. against Syria were the main
culprits for the dismal price action, but a drop in German consumer
confidence also fueled last night's selling in Europe.
-Dow Jones Industrial down 0.06%
-S&P 500 futures up 0.09%
-Nasdaq 100 futures up 0.09%
Nikkei down 1.51%
Hang Seng down 1.60%
Shanghai Composite down 0.11%
FTSE-100 down 0.57%
DAX-30 down 1.40%
PRE-MARKET SECTOR WATCH
(+/-) Large cap tech: Mixed
(-) Chip stocks: Lower
(+) Software stocks: Higher
(+) Hardware stocks: Higher
(+/-) Internet stocks: Mixed
(-) Drug stocks: Lower
(-) Financial stocks: Lower
(-) Retail stocks: Lower
(+/-) Industrial stocks: Mixed
(-) Airlines: Lower
(+/-) Autos Mixed
EXPR (+7.78%) Express beat revenue estimates and raised FY 2013
ASTX (+15.88%) Reported topline results of SGI-110 AML phase 2
study for patients with AML and MDS.
ZLC (+9.93%) Zales reported narrower than expected Q4 loss of
$0.25 versus estimates of a $0.33 loss. Revenue also beat
FRO (-13.51%) Frontline reported a much greater than expected
loss of $1.54 for Q2 versus estimates of a $0.54 loss.
QIHU (-6.13%) The stock price declined on $550 million offering
of senior convertible notes
JOY (-5.18%) Stock pressured by a 5.3% decline in Q3 profit as
sales drop 4.9%.
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