Stock Futures Indiacte Higher Opening
The US stock futures have started off positively, with Dow Jones currently up 0.31% to 10,756, S&P 500 trading up 0.37% to 1,140.90 and finally NASDAQ currently up at 0.51% to 2,005.75.
Commodities have made a great start today. Gold is currently up 0.53% to $1,316.50 a troy ounce and oil is trading up 1.20% to $80.93 a barrel.
Hewlett-Packard Company (NYSE: HPQ), which has been on the lookout for a new chief executive officer, today announced ex-SAP AG (ADR) (NYSE: SAP) CEO Leo Apotheker as the company’s new chief executive officer and Ray Lane as the company’s new non executive chairman. The appointment of Apotheker as the CEO has taken analysts by surprise, as early this year under his leadership; SAP posted its first annual sales drop since 2003. Hewlett-Packard shares are down 2.42% to $41.05 in the pre-market trading.
The slow global recovery has its effect on Euro zone with European manufacturing industries growing slowly in the month of September and unemployment reaching 12-year high. A report from London based Markit Economics said ‘a gauge of manufacturing in Euro zones 16 nations declined to 53.7 in September from 55.1 in August’, while another report said that the regions jobless rate stayed at 10.1% in August the highest since June 1998. A report showing the gauge of manufacturing for individual countries showed Italy’s manufacturing gauge declined, German manufacturing dropped to 55.1 in September from 58.2 but France’s index rose from 55.1 to 56.
The US Treasury late yesterday said it has cut its stake in Citigroup (NYSE: C) to 12.4% and is likely to make a profit of $2.246 billion through the sale of company’s ‘trust preferred securities’. Treasury announced that it has sold all of its ‘trust preferred securities’ and has reduced its stake from 36% to 12.4% by the sale of a certain number of 1.5 billion Citigroup common shares. Citigroup shares are up 1.53% to $3.97.
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- Markets Continue to Slide
- Markets Still Looking Good
- Most Active Stocks for August 23 are C, BAC, INTC, GE, MSFT, S, CSCO, PFE, F, HPQ
- Most Active Stocks for August 12 are C, CSCO, BAC, INTC, MSFT, F, GE, EMC, AMD, HPQ
