U.S. equity futures are indicating potentially more pain after yesterday’s tech-led route. The Nasdaq composite surrendered 3.1% and S&P 500 gave up 2.1% in a single session after showing some signs of promise midway through the week. Banking powerhouses JP Morgan and Wells Fargo both released quarterly reports this morning which tells mixed signals about the overall health of mortgage lending. The historically lower interest rate environment continues to take a toll on lending rates and trading unit profitability. Increased regulatory oversight is also leaving a mark on the bank’s profitability models.
The sharp decline in domestic market spilled over into both Europe and Asia overnight. The Nikkei hit a year-to-date low after skidding 2.4% following U.S. Market lead. Gold Futures (/GC) continue to attract buyers and are currently trading near the $1320 handle. The 10 year note is now at a 2.61% yield after bond buying is picking up momentum for traders attempting to side-step equity trouble.
Expected momentarily will be monthly producer-price index (PPI) numbers at 7:30 CT. Economists are expecting a reversal from last month’s 0.1% drop to a 0.1% increase to signal inflationary balance for consumer products. Earnings may become a major market driver leading into next week as several more company financials on display. Market Bulls will be looking for any sign of stability to fend of the recent weakness.
Stock Stories:
Wal-Mart (WMT) – It’s Still Wal-Mart – Wal-Mart (WMT) strikes a deal to sell Wild Oats brands to consumers at prices less than what organic food usually costs. The pricing set by Wal-Mart on the organic food brands is expected to be lower than comparable items from Whole Foods Market (WFM). Shares are flat in the pre-market.
Major Economic Reports:
7:30 am CT– Producer Price Index (PPI)
8:55 am CT– Consumer Sentiment
Notable Earnings:
Before Market: FAST, JPM, WFC
After Market: None
Friday – 4/11: C |
发表于 2014-4-11 08:41
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