Mensajepor BETO1962 » Jue Abr 19, 2012 9:25 am
S&P 500 Index futures (/ES) are pointing to a higher open in early trading. The Labor Department will release weekly jobless claims data and investors will receive data on housing and manufacturing later this morning. Earnings have also taken center stage, as the reporting season is well under way. There was also mixed news out of Europe, as Spain sold more bonds than expected but at higher yields. This brought down stock futures but we remain in positive territory. The CBOE Volatility Index (VIX) was basically flat yesterday. The session was uneventful as most indices remained unchanged throughout the day. Focus continues to be on corporate earnings this week. Among the companies that reported are Bank of America (BAC: +3.6%), Qualcomm (QCOM: -3.8%), Yum Brands (YUM: -2.0%), Ebay (EBAY: +10%) and Morgan Stanley (MS: +5.6%). The results have been mixed which is why the market has been extremely choppy. The Treasury market continues to show strength is spite of an elevated equity market through the first quarter of the year. Until money flows away from the safety of Bonds, we could see upside resistance for stocks. The earnings calendar is full for the rest of the week led by reports by Microsoft (MSFT) and Chipotle (CMG) after the close today.
Economic Reports:
07:30 am CT - Jobless Claims
09:00 am CT - Existing Home Sales
09:00 am CT - Philadelphia Fed Survey
09:00 am CT - Leading Indicators
Major Earnings today: CMG, COF, DD, EMC, FCX, MSFT, NCR, NUE, PM, SNDK, TRV, UNH, VZ