MarketWatch.com - Pre-Market Indications

Wednesday, June 23, 2010

Indications: U.S. stock futures climb ahead of Fed decision

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Steve Goldstein and Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- U.S. stock futures were higher Wednesday, pointing to a partial recapturing of the previous session's losses as the Federal Reserve is expected to again refrain from signalling interest rate hikes.

S&P 500 futures rose 4.5 points to 1,095 and Nasdaq 100 futures gained 8.25 points to 1,886.25. Futures on the Dow Jones Industrial Average rose 43 points.

U.S. stocks finished sharply lower Tuesday, hurt by disappointing housing data as well as a judge ruling against an Obama administration moratorium on deepwater drilling -- a decision the market interpreted as spurring protracted legal battles ahead. The S&P 500 dropped 1.6%.

Global Dow

• MarketWatch Topics: Greece • Asia Markets | Europe Markets | Lat. Am. • Canadian Markets | Israel Stocks | London • U.S.: Market Snapshot | After Hours

Tools • Latin American/Canadian indexes • European indexes | Asian indexes

More on the Markets • Bond Report | Oil News | Earnings Watch • Currencies | U.S. Economic Calendar

79118

Attention turns to the Federal Open Market Committee, which releases its interest rate decision at 2:15 p.m. Eastern. Economists don't expect a rate move or even a changing of the language saying rates will be kept low for an extended period of time.

Since the last Fed meeting, there's been the flaring up of the European sovereign debt crisis, mixed U.S. economic data, including core inflation at historic lows, and the Gulf of Mexico oil spill, said BMO Capital Markets economists in a note.

"We wouldn't be surprised if the Fed put a bit more emphasis on the downside risks to their outlook," they wrote.

Wednesday's session features data on May new-home sales, which are expected to drop sharply, as existing home sales did in data released on Tuesday.

Tenus Brosens, an economist at ING, said the government may extend the deal closing deadline for a home buyer tax credit by three months.

"The tax party has ended, and all are politely asked to leave. The remaining partygoers may just get a little more time to finish their drinks," Brosens said in a note to clients.

Overseas, minutes from the last Bank of England minutes revealed the first vote in favor of hiking rates from historically low levels of 0.5%. Seven other members voted to keep rates at 0.5%. The lone rate hike call sparked gains for the British pound /quotes/comstock/21o!x:sgbpusd (CUR_GBPUSD 1.4948, +0.0144, +0.9727%) against the U.S. dollar and the euro.

Euro-zone manufacturing and services activity grew at a slower rate in June, according to an early reading of purchasing managers indexes released Wednesday.

Adobe Systems /quotes/comstock/15*!adbe/quotes/nls/adbe (ADBE 30.38, -2.38, -7.27%) slipped 2% in premarket trade after reporting an 18% profit rise, wrapping analyst estimates on its current quarter earnings outlook and authorizing a $1.6 billion stock buyback.

Jabil Circuit /quotes/comstock/13*!jbl/quotes/nls/jbl (JBL 15.14, +1.55, +11.41%) climbed 11% in premarket trade after reporting stronger-than-forecast fiscal third-quarter earnings.

CarMax /quotes/comstock/13*!kmx/quotes/nls/kmx (KMX 21.74, +1.74, +8.70%) leaped 10% on a decision to be added to the S&P 500 index, replacing XTO Energy, which is being acquired by Exxon Mobil.

After the close, Nike /quotes/comstock/13*!nke/quotes/nls/nke (NKE 72.68, +0.22, +0.30%) and Bed Bath & Beyond /quotes/comstock/15*!bbby/quotes/nls/bbby (BBBY 41.46, +1.17, +2.90%) are due to report earnings.

The worries about housing data weighed on international equities, with the Nikkei 225 dropping 1.9% in Tokyo and the Stoxx Europe 600 index losing ground for a second day.

Gold futures edged up $1.20 an ounce, while oil futures fell 43 cents a barrel.

Steve Goldstein is MarketWatch's London bureau chief. Nick Godt is MarketWatch's markets editor, based in New York.


NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Wednesday, Jun 23, 2010 :

STOCKS TRADING ON NYSE Arca AT A PRICE 15% OR MORE AWAY FROM
THE PREVIOUS TRADE DAY'S CONSOLIDATED CLOSE PRICE (AS OF 08:30:00 ET)

Stock Tuesday's Close Current Price Pct Change Current NYSE ARCA Vol
No symbols with at least a 15% price change today

10 MOST ACTIVE STOCKS ON NYSE ARCA AS OF 08:30:00 ET

BASED ON DOLLARS TRADED: | BASED ON SHARES TRADED:
Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $72,635,560 $110.00 0.4% | C 2,707,389 $3.96 0.4%
PPL $42,554,626 $24.30 0.0% | PPL 1,760,334 $24.30 0.0%
AAPL $24,511,839 $275.45 0.7% | BP 710,757 $30.33 2.2%
BP $21,477,290 $30.33 2.2% | SPY 659,927 $110.00 0.4%
IWM $12,024,253 $64.92 0.2% | CIM 641,999 $3.73 ( 2.9%)
C $10,729,995 $3.96 0.4% | RAD 228,699 $1.13 10.8%
RGLD $8,999,308 $49.14 ( 4.0%) | IWM 185,178 $64.92 0.2%
RTP $8,297,157 $51.40 3.0% | RGLD 182,459 $49.14 ( 4.0%)
BHP $8,237,641 $69.51 2.0% | RTP 161,805 $51.40 3.0%
QQQQ $6,305,375 $46.41 0.4% | TZA 154,930 $6.92 ( 0.9%)


Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:
http://www.tradearca.com/data/volume/daily_update.asp

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
Any opinions expressed in this material are NYSE Arca opinions only.
NYSE Arca undertakes no obligation to update any of the information contained in this material in light of new information or future events.
THIS MATERIAL IS PROVIDED BY NYSE ARCA "AS IS" AND WITHOUT WARRANTIES EXPRESS OR IMPLIED.
NYSE ARCA DISCLAIMS ALL WARRANTIES INCLUDING THE IMPLIED WARRANTIES OF MERCHANTIBILITY, TITLE, AND FITNESS FOR A PARTICULAR PURPOSE AS TO THIS MATERIAL.
IN NO EVENT SHALL NYSE ARCA BE LIABLE FOR DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (INCLUDING BUT NOT LIMITED TO, LOST PROFITS, TRADING LOSSES AND DAMAGES THAT MAY RESULT FROM THE USE
OF THIS MATERIAL, ANY DELAY OR INTERRUPTION OF SERVICE OR OMISSIONS OR INACCURACIES IN THE MATERIAL) WITH RESPECT TO THIS MATERIAL.

Copyright [2010] by NYSE Euronext. All rights reserved. Reproduction and redistribution prohibited without prior express consent.

Pre Market Movers - Futures Trading - Nasdaq - NYSE

Subscribe to "The $t0ckman" via email

Enter your email address:

Delivered by FeedBurner