US Futures Point Lower Before Prop Trading Ban Vote; Markets Eye Fed Taper Talk


Shutterstock photo

Stock futures were slightly lower Tuesday on a lack of data that could move the needle on the U.S. Federal Reserve's decision on whether to taper its $85-billion-a-month asset purchasing program. The market was also digesting comments from St. Louis Fed President James Bullard yesterday in which he suggested that improved key labor market indicators increase the likelihood of tapering. Bullard will be a voting member of the FOMC for the last time at the Dec. 17-18 meeting.

Meanwhile, U.S. regulators were due to introduce a ban on proprietary trading, known as the Volcker rule after former Fed chairman Paul Volcker, to limit banks' risk taking. The rule could take a significant bite out of bank's profits. At 9:30 a.m., the regulators are expected to unveil more details.

In equities, Nokia ( NOK ) slipped 2% before the market open after a report that the company's tax liabilities in India could be as high as $3.4 billion. Toll Brothers ( TOL ) added nearly 3% after fiscal Q4 earnings topped forecasts.


-Dow Jones Industrial down 0.27%

-S&P 500 futures down 0.25%

-Nasdaq 100 futures down 0.22%

-Nasdaq-100 Pre-Market Indicator down 0.13%


Nikkei down 0.25%

Hang Seng down 0.28%

Shanghai Composite down 0.03%

FTSE-100 down 0.33%

DAX-30 down 0.47%


(-) Large cap tech: down

(+/-) Chip stocks: mixed

(+/-) Software stocks: mixed

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(-) Drug stocks: lower

(-) Financial stocks: lower

(+/-) Retail stocks: unchanged

(+/-) Industrial stocks: unchanged

(+) Airlines: higher

(+/-) Autos: mixed


(+) GERN (+9.78%) Needham upgrades stock to buy, sets price target at $10

(+) BRCM (+1.26%) Lifts Q4 guidance, now in line with street expectations

(+) NURO (+16.33%) Inks exclusive China distribution deal for diagnostic device

(+) NAVB (+14.21%) Gets FDA fast track designation for head, neck cancer diagnostics tool


(-) NXPI (-2.89%) Shareholders plans to sell 25 mln shares

(-) IEP (-8.94%) Sells 2 mln depository units representing limited partnership interests

(-) GNK (-39.27%) Report says it and EGLE are seeking to pare down debt loads

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

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

This article appears in: Investing , Commodities
More Headlines for: NOK , TOL

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by