Stock Futures Point to Lower Opening
The US stock futures have started off on a bad note with Dow, S&P 500 and NASDAQ trading in red. Dow Jones is currently down 0.10% to 10,777, S&P 500 is down 0.12% to 1,140.30 and finally NASDAQ is down 0.06% to 2,007.25.
Commodities have started off on a positive note today with both gold and oil currently trading in green. Gold is currently up 0.28% to 1,311.90 a troy ounce, while oil is currently trading up 0.14% to $76.29 a barrel.
A survey of business sentiment by The Bank of Japan showed the business confidence in Japan rose for the sixth consecutive quarter. However, companies believe the confidence is temporary as the economy has slowed and the stronger yen will affect the shipment overseas. The business sentiment main index for large manufacturers rose to 8 from 1 three years ago.
Hewlett-Packard Company (NYSE: HPQ), which has been racing against the time to recruit a new CEO to replace Mark Hurd, late yesterday announced earnings guidance for fiscal year ending in October 2011. Hewlett-Packard’s interim CEO Cathie Lesjak announced earnings between $5.05 and $5.15, which is 14% higher from earnings announced this year and above average analyst forecasts of $4.99 per share. Lesjak also forecasted the revenue for next year to be between $131.5 billion to $133.5 billion, an increase of 5% to 7%. Hewlett-Packard shares have been rising in the pre-market trading following the announcement. The company shares are currently up 1.30% to $42.16.
A report released by European Commission in Brussels today showed that the European economic confidence improved unexpectedly this month. An index of executives and consumer sentiment in 16 European nations rose to 103.2, the highest since January 2008, from a revised 102.3 in August’. The index rise to 103.2 beat the average economist forecast for a decline to 101.3.
Related posts:
- Markets End Higher
- Markets Recover in Mid-Day Trading
- Markets Down in Early Trading
- Markets Open Higher
- Markets Close Lower
