US Futures Modestly Lower Ahead of Fed Speeches

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U.S. stock futures vacillated between modest gains and modest losses ahead of speeches expected by four U.S. Federal Reserve Officials today. Last week St. Louis Fed speaker James Bullard suggested the Fed could slow down the pace of asset purchases next month.

Meanwhile, the August Chicago Fed National Activity Index jumped to 0.14 from -0.15 in July. The index is a weighted average of 85 monthly indicators.

In equities, Blackberry ( BBRY ) dropped 6.36% before the bell, adding to a 17% drop on Friday, after warning of a Q2 operating loss of as much as $995 million. The smartphone maker plans to cut 4,500 jobs. General Electric ( GE ) gained 0.83% after winning three contracts worth approximately $2.7 billion with an affiliate of Sonegaz-Algeria's national electricity and gas company.

Overseas, China's manufacturing activity picked up the pace in September and Germany's private sector grew.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.08%

-S&P 500 futures down 0.18%

-Nasdaq 100 futures down 0.11%

-Nasdaq-100 Pre-Market Indicator up 0.78%

GLOBAL SENTIMENT

Nikkei down 0.16%

Hang Seng down 0.56%

Shanghai Composite up 1.33%

FTSE-100 down 0.51%

DAX-30 down 0.41%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(+/-) Software stocks: mixed

(+/-) Hardware stocks: mixed

(-) Internet stocks: lower

(-) Drug stocks: lower

(-) Financial stocks: lower

(-) Retail stocks: lower

(-) Industrial stocks: lower

(+) Airlines: higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) AAPL (+4.62%) Sold a record-breaking 9 million new 5s and 5c phones over the weekend

(+) YONG (+4.52) Goes private at $6.69 per share

DOWNSIDE MOVERS

(-) BBRY (-2.69%) Warned Friday of up to $995 million Q2 operating loss

(-) JCP (-1.62%) Vornado Realty Trust sells 6.1% for $13/share



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

Referenced Stocks: BBRY , GE

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