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NEW YORK: U.S. stocks were set to open lower Wednesday as another selloff in Chinese shares rattled investors.At 9:02 a.m. ET, Dow Jones industrial average, Nasdaq 100 and Standard & Poor’s 500 futures were sharply lower. Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.0:00
/3:12U.S., China: Frenemies for nowThis follows a rally on Tuesday after Home Depot’s (HD, Fortune 500) results and forecast gave investors a boost following a two-session retreat.Global markets tumbled a sharp drop in China, the second in three days. Stocks in Shanghai finished 4% lower. The rest of Asia sagged and European shares fell in morning trading.In the past two weeks, the Shanghai Composite Index has dropped nearly 20%, a decline some experts define as a bear market. Economy: The selloff in China is likely to hit confidence, especially amid worries about the fragile global economic recovery. No major economic readings are on tap Wednesday, which could result in a volatile session.Philip Isherwood, equities strategist at London-based Evolution Securities, said the Chinese sell-off was disturbing to U.S. and European investors “because China, obviously, is a symbol of growth.”"Equities require recovery, and China is an early-cycle talisman of recovery,” said Isherwood. “China is being viewed as an early call on the global market picking up.”Western investors want China’s economy to grow so that Chinese consumers will buy American and European imports, said Isherwood. But a heavy decline in the Shanghai markets undermines confidence that China would help with a Western recovery, he said.”China has been a bright light for so long and they’ve been a big consumer of American products,” said Anthony Conroy, head trader at BNY ConvergEx Group. “A slowdown there would certainly affect our market.”Conroy said investors are unloading futures to buy up the dollar, which is now seen as a safe haven, since “the U.S. market is coming out of a severe recession and it looks like [China is] going into one.” But while dollars are considered a safe haven, he said this positive sentiment does not extend to the U.S. stock market, because it is seen as being more dependent on Chinese growth.The plunge in the Shanghai Composite was triggered by a recent economic slowdown in a market that had rallied to the point of being overbought, said Conroy.Money and oil: The dollar rose against the euro and the British pound, but slipped versus the yen. The price of oil fell 68 cents to 68.51 a barrel.Earnings: Hewlett-Packard (HPQ, Fortune 500) reported a 19% drop in quarterly profit after U.S. markets closed Tuesday, but the computer maker said business was “stabilizing.”

Source:CNN

NEW YORK: U.S. stocks were poised for early gains Tuesday, even though the futures lost momentum after the release of disappointing housing data.At 8:53 a.m. ET, Dow Jones industrial average, Nasdaq 100 and Standard & Poor’s 500 futures were higher, but off their earlier peaks. Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.Wall Street kicked off the week on a rough note Monday, with the major gauges losing about 2%. Stocks fell on concerns that the global economy would take longer to recover than previously anticipated. The roughly five-month rally, fueled by signs that the economy is stabilizing, slowed down last week and hit a roadblock on Friday after a worse-than-expected consumer sentiment report.Peter Cardillo, chief market economist for Avalon Partners, said the biggest market-mover on Tuesday will be the government report on housing starts.”Housing is what sunk the economy, housing is what sunk the consumer, housing is the root of the problem,” said Cardillo, prior to the housing reports. 0:00
/2:44Mixed signals on the recoveryEconomy: The government reported that housing starts slipped to an annual rate of 581,000 units in July, from the revised rate of 587,000 in June. This was worse that expected. For July, an annual rate of 598,000 was forecast for housing starts, according to a consensus of economist opinion from Briefing.com. The government reported that housing starts fell to an annual rate of 560,000 of units in July, from the revised rate of 570,000 in June. For July, an annual rate of 576,000 was forecast, according to Briefing.com consensus.Also, the government reported prices at the wholesale level. The Price Producer Index fell 0.9% in July, worse than expected. The PPI was forecast to fall 0.3% in July, according to the Briefing.com consensus, compared to a gain of 1.8% in June. Core PPI, which excludes volatile food and energy prices, slipped 0.1% in July, which was much more than expected. The Core PPI was forecast to edge up 0.1%, according to Briefing.com consensus.Earnings: Home improvement retailer Home Depot (HD, Fortune 500) reported fiscal second-quarter net earnings of 1.1 billion, or 66 cents per diluted share, down from 1.2 billion or 71 cents per diluted share in the year-ago quarter. Chief executive Frank Blake said, in a press release, that consumers were pressured by “concerns about the housing market, rising unemployment and softness in the overall economy.” Nonetheless, Home Depot’s earnings beat the 59 cents per share that was expected by Wall Street, according to a consensus of analyst opinion from Thomson Reuters.On Monday, rival Lowe’s (LOW, Fortune 500) reported a 19% drop in quarterly profit and said it was trimming its store expansion in North America.Retailers Target (TGT, Fortune 500) and TJX (TJX, Fortune 500) also are due to post results.Companies: GM reached a deal to sell its money-losing Saab unit to Swedish luxury sports car maker Koenigsegg.World markets: Stocks around the world were in recovery mode, although gains were modest. In Asia, Japan’s Nikkei edged higher. Major markets in Europe gained slightly in morning trading.Money and oil: The dollar slipped versus the euro and the British pound but rose against the yen. The price of oil eged up 5 cents per barrel to 66.80.

Source:CNN

LONDON: U.S. stock futures rose Thursday, buoyed by the Federal Reserve’s economic outlook and upbeat readings on growth in Europe.At 4:41 a.m. ET, Dow Jones industrial average, Standard & Poor’s 500 and Nasdaq 100 futures were higher.Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.World markets: Wall Street looked set to track global markets, which advanced after Germany and France both pulled out of their recessions. Both posted unexpected GDP growth for the second quarter.Fed: The better-than-expected readings out of Europe came a day after the Fed said the long decline for the U.S. economy appears to have ended. The central bank said the economy was “leveling out.” 0:00
/3:57Eyeing retail for recoveryRetail: Investors will look to the retail sector for further signs that the economy is getting back on track. Retail sales are due out at 8:30 a.m. ET and Wal-Mart (WMT, Fortune 500) is due to post quarterly results ahead of the opening bell.

Source:CNN

LONDON: U.S. stocks were set to fall at Wednesday’s open, ahead of the release of the Federal Reserve’s policy statement.At 4:37 a.m. ET, Dow Jones industrial average, Standard & Poor’s 500 and Nasdaq 100 futures were all lower.Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.Fed: U.S. central bankers end a two-day meeting today. The Fed’s policy statement is due out at 2:15 p.m. ET.0:00
/4:08The Fed’s balancing actThe Fed is expected to keep rates at near zero, but investors will pore over the statement to see what policymakers say about the outlook for the economy.Economy: Before the Fed statement is released, a report on the trade balance comes out. The Treasury budget is also on tap for Wednesday.World markets: Asian stocks finished the session lower, dragged down by a nearly 5% drop in Chinese shares. Major markets in Europe were mostly lower in morning trading.

Source:CNN

LONDON: U.S. stocks were poised for a higher open Tuesday, although trading could be muted as the Federal Reserve’s two-day policy meeting gets underway. At 4:57 a.m. ET, Dow Jones industrial average, Standard & Poor’s 500 and Nasdaq 100 futures were all slightly higher.Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.Fed: All eyes are on U.S. central bankers, who begin their two-day policy meeting. The Fed is widely expected to hold rates steady at near zero. 0:00
/4:08The Fed’s balancing actInvestors will be eager to see what policymakers say about the outlook for the U.S. economy when the Fed statement comes out Wednesday. Economy: Investors will take in a report on productivity before U.S. markets open. That’s followed by a reading on wholesale inventories at 10 a.m. ET.World markets: Asian stocks finished the session modestly higher. Japan’s Nikkei and the Hang Seng in Hong Kong both added slight gains. Major markets in Europe were also higher in morning trading.

Source:CNN

LONDON: U.S. stocks are expected to open lower Monday, as investors expressed caution following a rally that has pushed stocks to nine-month highs.At 5:08 a.m. ET, Dow Jones industrial average, Standard & Poor’s 500 and Nasdaq 100 futures were all slightly lower.Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.Economy: No major economic reports are on tap Monday, giving investors time to digest the recent rally.0:00
/3:12Oil prices endanger recoveryStocks have gotten a boost lately from upbeat economic news. On Friday, the July jobs report from the U.S. Labor Department showed the smallest number of job cuts in nearly a year.Earnings: Warren Buffett’s Berkshire Hathaway (BRK) posted a 14% rise in quarterly net income after U.S. markets closed Friday.World markets: Asian stocks finished the session higher. Japan’s Nikkei added 1% and the Hang Seng in Hong Kong rallied nearly 3%. Major markets in Europe were lower in morning trading.

Source:CNN

LONDON: U.S. stock futures slipped early Friday, ahead of a keenly awaited government report on jobs.At 4:56 a.m. ET, Dow Jones industrial average, Standard & Poor’s 500 and Nasdaq 100 futures were modestly lower.Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.Economy: Markets are likely to find firmer direction once the U.S. Labor Department’s July jobs report comes out at 8:30 a.m. ET.0:00
/3:17Stimulus impact on GDPEmployers are expected to have cut 328,000 jobs from their payrolls after slashing 467,000 jobs in the previous month, according to Briefing.com. The unemployment rate is expected to have inched up to 9.6% from 9.5% last month.Earnings: AIG (AIG, Fortune 500) is scheduled to release its quarterly results before U.S. markets open. In the run-up to its earnings, the stock has soared.Autos: The Cash for Clunkers incentive program got a new life late Thursday after the Senate approved 2 billion in additional funding. The popular program is aimed at spurring auto sales. World markets: The looming U.S. jobs report dragged on global markets. Asian stocks mostly fell, although Japan’s Nikkei managed a slight gain. Major markets in Europe were lower in morning trading.

Source:CNN

LONDON: U.S. stock futures wavered early Thursday amid jitters about the economy and the employment outlook.At 5:04 a.m. ET, Dow Jones industrial average, Standard & Poor’s 500 and Nasdaq 100 futures were little changed. Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.U.S. stocks slipped Wednesday after some weaker-than-expected readings reignited concerns about the economy.Economy: Investors will take in a weekly reading on U.S. jobless claims. The number of people filing for benefits is expected to fall slightly from the week before.0:00
/2:34Joblessness expected to riseThe report comes a day before the U.S. Labor Department releases its closely watched monthly jobs report.Earnings: Tech bellwether Cisco Systems (CSCO, Fortune 500) reported a drop in quarterly profit and revenue after U.S. markets closed Wednesday.World markets: Global stocks headed higher. Markets in Asia finished the session in positive territory, with Japan’s Nikkei adding 1%. Major European markets were also higher in morning trading.

Source:CNN

LONDON: U.S. stocks were poised for a weak open Wednesday, with investors looking to the latest reports on the labor sector for direction.At 4:52 a.m. ET, Dow Jones industrial average, Standard & Poor’s 500 and Nasdaq 100 futures were narrowly lower. Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.Economy: Two reports due out Wednesday will provide the latest clues on the employment situation in the U.S. 0:00
/2:41The impact of govt. assistanceInvestors will take in a report on job cuts from outplacement firm Challenger at 7:30 a.m. ET. That’s followed by a reading on private-sector payrolls at 8:15 a.m. ET.The reports come ahead of the U.S. Labor Department’s closely watched monthly jobs report, which comes out Friday.Earnings: Ahead of the opening bell, consumer goods firm Procter & Gamble (PG, Fortune 500) releases its quarterly results.Other companies to watch include Kraft Foods (KFT, Fortune 500), which reported an 11% jump in profit after U.S. markets closed Tuesday.World markets: Asian stocks fell as investors paused for breath. Major European markets were mixed as investors digested another round of bank earnings.

Source:CNN

LONDON: U.S. stocks were set to pull back Tuesday after crossing key levels in the previous session.At 5:16 a.m. ET, Dow Jones industrial average, Standard & Poor’s 500 and Nasdaq 100 futures were lower. Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.Wall Street kicked August off with a solid start Monday. The rally pushed the benchmark S&P 500 index above the 1,000 level for the first time since last November, and the tech-heavy Nasdaq closed above 2,000.Economy: A report on personal income and spending comes out at 8:30 a.m. ET. That’s followed by a report on pending home sales, which is due out shortly after U.S. markets open.Autos: Toyota Motor (TM) posted a smaller-than-expected loss and issued a more encouraging outlook for the full year. The automaker said it expects government incentives to help boost sales in Japan.In the U.S., an incentive program aimed at rejuvenating auto sales is in the hands of the Senate. The Cash for Clunkers program faces extinction unless the Senate approves additional funding. 0:00
/3:43Cash for clunkers’ sugar rushEarnings: Companies on tap to release quarterly financial results include Archer Daniels Midland (ADM, Fortune 500), CVS Caremark (CVS, Fortune 500) and Kraft Foods (KFT, Fortune 500).Swiss bank UBS (UBS) posted another quarterly loss. The financial giant was hit by restructuring fees and client withdrawals.World markets: Most Asian markets finished the session with modest gains. Sentiment was more downbeat in Europe, where major markets fell in early trading.

Source:CNN