Stock Market Watch

U.S. Stocks Futures Pointing Weaker Start as China’s Growth Slows

by ·


U.S stocks futures fell on Friday, pointing a lower start as weaker than expected economic data from world’s growth engine-China outweighed positive sentiments created by strong earnings results from Google Inc on Thursday.

While Futures on the Dow Jones Industrial Average slid 56 points to 12,894’ those of S&P 500 Index futures lost 6.5 points to 1,379.40, even as Nasdaq-100 futures lost 10 points to 2,728.75.


Earlier today, China’s first quarter GDP reading for 2012 showed a growth of 8.1%. The pace of the expansion was slowest in last 11 months, reported China’s Bureau of Statics. Analysts were expecting the economy to grow by 8.3%.

In Europe, equities markets also fell following the release of disappointing economic data from China. Losses were further extended as data from both the ECB and Spain central bank, Bank of Spain showed that commercial banks borrowing from central bank grew sharply in March, signifying liquidity crunch among Spanish banks.

On the U.S. economic front, the March Consumer Price Index is slated to be released at 8:30 a.m. Eastern time. According to MarketWatch survey, economists are forecasting a 0.2% rise after 0.4% increase in February.

Later today, The University of Michigan’s consumer-sentiment data for April is expected to be announced at 9:55 a.m. Eastern.

Besides, Federal Reserve Chairman Ben Bernanke is scheduled to deliver a speech in New York at 1 p.m. Eastern on the financial crisis and the policy response.

Moving onto earnings season, J P Morgan (NYSE: JPM) is slated to announce its results before the morning bell ring. Wells Fargo (NYSE: WFC) is also scheduled to report its results on Friday. A survey conducted by FactSet Research shows that analysts are expecting J.P. Morgan to post a profit of $1.14 a share on revenue of $24.4 billion. Last year for the same period, the bank’s profit stood at $1.28 a share on revenue of $25.2 billion.

 

 

 

 

More Posts by this author

edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


Tags:

Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

You may also like...