Market Expected to Open Lower
The U.S. equity market is expected to open lower, with stock futures currently in red. The Dow Jones Industrial Average futures are down 22 points to 11,354, the S&P 500 futures are down 3.7 points to 1,218.2 and the Nasdaq 100 futures are down 6.25 points to 2,178.5.
Shares of Yahoo! Inc. (NASDAQ: YHOO) are trading higher in pre-market trading, following a reported from the Wall Street Journal that said that AOL Inc. (NYSE: AOL) has hired financial advisers to look at strategic alternatives for the firm, which includes a possible deal with Yahoo. Shares of Yahoo are currently up 1.44% to $16.26 in pre-market trading.
McDonald’s Corporation (NYSE: MCD) today reported that its key revenue figure in the U.S. rose 5.6% for the month of October. The fast food chain said that revenue at restaurants opened at least 13 months increased 6.5% in October. The company also saw impressive results in Europe, where revenue at restaurants opened at least 13 months jumped 5.8%. Shares of McDonald’s Corporation are down 0.38% to $79 in pre-market trading.
A Chinese official today said that the Fed’s plans to pump billions of dollars into the financial system will result in greater volatility in global markets. Last week, the Fed announced second round of quantitative easing under which it will buy long-term government bonds worth $600 billion through June 2011. The move has received mixed reception outside the U.S.
