By RTT News, October 22, 2013, 06:36:00 AM EDT
(RTTNews.com) - After Monday's lukewarm showing, Wall Street is caution personified, as it awaits the release of the non-farm payrolls report for September, which has been delayed by over 2 weeks due to the federal government shutdown. The major U.S. index futures point to a nearly flat opening. Apart from the non-farm payrolls report, traders may also react to another batch of earnings reports from companies such as United Technologies (UTX), Travelers Companies ( TRV ) and DuPont ( DD ).
At 6:15 am ET, the Dow futures are unchanged and the S&P 500 futures are moving down 0.70 points , while the Nasdaq 100 futures are adding 0.75 points.
U.S. stocks languished mostly below the unchanged line on Monday, as traders digested a fairly in line housing data and mixed earnings news and awaited the next catalysts to render direction.
On the economic front, the Labor Department is scheduled to release its monthly non-farm payrolls report for September at 8:30 am ET. Economists expect the economy to have added 185,000 jobs for the month, while the unemployment rate is expected to have remained unchanged at 7.3 percent.
The Commerce Department will release its construction spending report for August at 10 am ET. The consensus estimates call for a 0.4 percent increase in construction spending for the month compared to the 0.6 percent increase in the previous month.
In corporate news, Texas Instruments ( TXN ) reported third quarter results that exceeded estimates, while its fourth quarter guidance was soft. Netflix's ( NFLX ) third quarter results exceeded estimates and its fourth quarter guidance was upbeat.
Rent-A-Center RCII) reported below consensus results for its third quarter and lowered its 2013 guidance below the consensus estimate.
Vmware ( VMW ) reported better than expected third quarter earnings and in line revenues. Discover Financial Services ( DFS ) reported third quarter earnings and revenues that trailed expectations. Microsemi ( MSCC ) announced an agreement to buy Symmetricom ( SYMM ) for $7.18 per share through a cash tender offer. The total deal value is about $230 million, net of Symmetricom's cash balance.
Standard & Poor's announced that Transocean ( RIG ) will replace Dell ( DELL ) in the S&P 500 Index after the close of trading on October 28th. Thor Industries ( THO ) announced the completion of its previously announced sale of its bus business to Allied Specialty Vehicles for cash proceeds of $100 million. The company also said its board approved a special dividend of $1 per share.
Altera ( ALTR ), Amgen ( AMGN ), Apollo Group (APOG), Broadcom ( BRCM ), Compuware ( CPWR ), Cree (CREE), Juniper Networks ( JNPR ), Panera Bread ( PNRA ), RF Micro Device (RFMD), STMicroelectronics ( STM ), Unisys ( UIS ), Waste Connections ( WCN ), FMC Technology ( FTI ) and Fulton Financial ( FULT ) are among the companies due to release their quarterly results after the close of New York trading
The Asian markets closed on a mixed note, as traders looked ahead to the delayed release of the September non-farm payrolls report. The Australian, Japanese, New Zealand, Singaporean and South Korean markets closed higher, while Hong Kong, Chinese, Indian, Indonesian and Taiwanese markets retreated.
Japan's Nikkei 225 average, which spent the better part of the morning below the unchanged line, recovered in the afternoon and traded mostly above the unchanged line thereafter. The index ended up 19.68 points or 0.13 percent at 14,713. The yen's retreat helped export stocks, with Pioneer, Yahoo Japan, NEC and Asahi Kasei among the biggest gainers of the session. On the other hand, pharma, marine transportation, mining, utility and real estate stocks lost ground.
Australia's All Ordinaries opened higher and advanced steadily until late trading before legging down slightly and yet closed 19.70 points or 0.37 percent higher at 5,371. Material stocks rallied strongly, while consumer staple, financial and healthcare stocks also found buying interest.
Meanwhile, Hong Kong's Hang Seng Index closed at 23,316, down 122.16 points or 0.52 percent, and China's Shanghai Composite Index ended 18.59 points or 0.83 percent lower at 2,211.
European stocks opened lower and saw some volatility in early trading. The major averages in the region are currently mixed, as traders digested domestic earnings and looked ahead to the U.S. September non-farm payrolls report.
In corporate news, Novartis ( NVS ) reported third quarter earnings that fell shy of estimates by most analysts. However, the company raised its guidance for the full year, citing the failure of generic competition for its blood pressure drug Diovan. Dutch telecom giant KPN reported a loss for its third quarter, hurt by an impairment charge.
U.K.'s Reckitt Benckiser reported higher third quarter profit and said it is exploring options for its pharma unit. Whitbread also reported higher third quarter results. Chipmaker Arm Holdings' (ARMH) third quarter earnings increased year-over-year.
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