MarketWatch.com - Pre-Market Indications

Wednesday, January 19, 2011

Indications: U.S. stock futures falter after Goldman, housing

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By William L. Watts, MarketWatch

NEW YORK (MarketWatch) â€" U.S. stock futures wobbled mostly lower on Wednesday after Goldman Sachs Group Inc. reported an earnings drop and housing data proved mixed, denting cheer over strong financial results from Apple Inc.

S&P 500 futures /quotes/comstock/21m!f:sp\h11 (SPH11 1,284, -11.20, -0.87%)  fell 2.9 points to 1,291.8, while futures on the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\h11 (DJH11 11,790, -21.00, -0.18%)  shed 5 points to 11,806.

Nasdaq 100 futures /quotes/comstock/21m!f:nd\h11 (NDH11 2,314, -16.75, -0.72%)  were up 1.25 points at 2,332.

Not a word about Steve Jobs

Not a single analyst asked about CEO Steve Jobs' medical leave on Apple’s conference call late Tuesday, sticking instead to questions about the tech bellwether’s earnings and outlook.

Shares of Goldman Sachs /quotes/comstock/13*!gs/quotes/nls/gs (GS 170.04, -4.64, -2.66%)   were off 3.3% after the firm reported a drop of more than 50% in fourth-quarter net profit. See more on Street powerhouse Goldman Sachs’ lower quarterly profit and revenue.

Providing a further snapshot of the nation’s housing market, the Commerce Department reported construction of new homes fell 4.3% in December, while the number of building permits issued rose 16.7%.

Strategists said investors continue to show a hearty, underlying appetite for risk, which bodes well for equities.

“Overall, any weakness tends to be short-lived,” said David Jones, chief market strategist at IG Index, with investors gunning for the 12,000 level on the Dow iIndustrials.

Strategists at Lloyds TSB said in a note: “All in all, the ‘risk-on/reflation’ trade seems in rude health, across asset classes, and keeps defying our expectation for a correction in [the first quarter].”

After Tuesday’s closing bell, Apple /quotes/comstock/15*!aapl/quotes/nls/aapl (AAPL 343.92, +3.27, +0.96%)  said first-quarter net income jumped to $6 billion, or $6.43 a share, compared to net income of $3.38 billion, or $3.67 a share, for the same period during fiscal 2010. Revenue jumped more than 70% to $26.74 billion on strong holiday sales of the iPhone and iPad. Read about Apple's first-quarter earnings.

Apple shares fell by more than 2% in Tuesday’s regular session, a day after the company announced that Chief Executive Steve Jobs would be going on another medical leave.

Apple shares rose 2% in U.S. premarket trade on Wednesday, while International Business Machines Corp. /quotes/comstock/13*!ibm/quotes/nls/ibm (IBM 154.95, +4.30, +2.85%)  gained 2.6%.

Late Tuesday, the tech bellwether and Dow component said fourth-quarter net income nearly doubled to $143.7 million, or 62 cents a share. Revenue rose 50% to $383.6 million. Read about IBM’s results.

Bank of New York Mellon Corp. /quotes/comstock/13*!bk/quotes/nls/bk (BK 31.97, -0.05, -0.16%)  said Wednesday that fourth-quarter profit from continuing operations fell 3.1% to $690 million, or 55 cents a share, including restructuring charges of 4 cents. Analysts surveyed by Factset Research had produced a consensus forecast of 57 cents a share.

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Earnings Watch | Earnings, updates, warnings

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/conga/story/misc/markets.html 118590

The Wall Street Journal reported that CEO Vikram Pandit plans to name John Havens as president and chief operating officer of Citigroup Inc. /quotes/comstock/13*!c/quotes/nls/c (C 4.80, 0.00, 0.00%) , as part of a structural overhaul. Havens has led the bank’s institutional clients group for the past three years.

European stocks were mostly lower in late morning trade, with losses for ASML Holding NV /quotes/comstock/15*!asml/quotes/nls/asml (ASML 37.40, -2.70, -6.73%)  weighing on the technology sector in the wake of the firm’s results. Read Europe Markets.

Most Asian markets advanced Wednesday, cheered by results overnight from Apple and IBM, while a weaker dollar lifted commodity-sector shares. Read Asia Markets.

U.S. stocks ended higher on Tuesday as upbeat manufacturing data boosted the energy and materials sectors, more than offsetting a subpar earnings report from Citigroup and worries about the health of Apple’s Jobs.

The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 11,837, -1.32, -0.01%)  rose 50.55 points to close at 11,837.03, while the S&P 500 /quotes/comstock/21z!i1:in\x (SPX 1,287, -8.44, -0.65%)  ended with a gain of 1.78 points at 1,295.02.

The Nasdaq 100 /quotes/comstock/10y!i:comp (COMP 2,740, -25.82, -0.93%)  finished with a 0.2% gain at 2,328.79.

The Dow last week posted its seventh consecutive weekly gain, with Tuesday’s advance taking the blue-chip benchmark to its highest level since mid-2008.

In currencies, the U.S. dollar was weaker versus most major rivals, slipping against the Japanese yen /quotes/comstock/21o!x:susdjpy (USDYEN 82.0100, -0.5800, -0.7023%)  to trade at ¥82.06 as the euro /quotes/comstock/21o!x:seurusd (EURUSD 1.3493, +0.0106, +0.7918%)  rose to $1.3511.

And in commodities, gold futures rose $4.30 to fetch $1,372.5 an ounce, with Nymex crude-oil futures gaining 66 cents to stand at $92.04 a barrel in electronic trade.

William L. Watts is a reporter for MarketWatch in London.

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Indications: U.S. stock futures flat ahead of Goldman results

Stock Assault 2.0 - Artificial Intelligence Stock Market Software

By William L. Watts, MarketWatch

LONDON (MarketWatch) â€" U.S. stock futures saw choppy trade Wednesday, trading nearly unchanged as investors digested strong earnings data from Apple Inc. and awaited results from Goldman Sachs Group Inc.

S&P 500 futures /quotes/comstock/21m!f:sp\h11 (SPH11 1,292, -2.90, -0.22%)  fell 1.2 points to 1,293.30, while futures on the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\h11 (DJH11 11,803, -8.00, -0.07%)  rose 3 points to 11,814.

Nasdaq 100 futures /quotes/comstock/21m!f:nd\h11 (NDH11 2,332, +1.25, +0.05%)  were unchanged at 2,330.75.

Not a word about Steve Jobs

Not a single analyst asked about Steve Jobs' medical leave on the Apple earnings call Tuesday afternoon. Stacey Delo and Dan Gallagher discuss that, and the tech bellwether’s earnings.

Strategists said investors continue to show a hearty, underlying appetite for risk, which bodes well for equities.

“Overall, any weakness tends to be short-lived,” said David Jones, chief market strategist at IG Index, with investors gunning for the 12,000 level on the Dow Jones Industrial Average.

Strategists at Lloyds TSB said in a note: “All in all, the ‘risk-on/reflation’ trade seems in rude health, across asset classes, and keeps defying our expectation for a correction in [the first quarter].”

After Tuesday’s closing bell, Apple /quotes/comstock/15*!aapl/quotes/nls/aapl (AAPL 340.65, -7.83, -2.25%)  said first-quarter net income jumped to $6 billion, or $6.43 a share, compared to net income of $3.38 billion, or $3.67 a share, for the same period last year. Revenue jumped more than 70% to $26.74 billion on strong holiday sales of the iPhone and iPad. Read about Apple's first-quarter earnings.

Apple shares fell by more than 2% in Tuesday’s regular session, a day after the company announced that Chief Executive Officer Steve Jobs would be going on another medical leave.

Apple shares rose 1% in U.S. premarket trade on Wednesday.

Shares of International Business Machines /quotes/comstock/13*!ibm/quotes/nls/ibm (IBM 150.65, +0.65, +0.43%)  gained 2.4% in premarket trade. The firm said late Tuesday that its second-quarter net income nearly doubled to $143.7 million, or 62 cents a share. Revenue rose 50% to $383.6 million. Read about IBM’s results.

Bank of New York Mellon Corp. /quotes/comstock/13*!bk/quotes/nls/bk (BK 32.02, -0.35, -1.08%)  said Wednesday that fourth-quarter profit from continuing operations fell 3.1% to $690 million, or 55 cents a share, including restructuring charges of 4 cents. Analysts surveyed by Factset Research had produced a consensus forecast of 57 cents a share.

Goldman results on tap

Ahead of Wednesday’s opening bell, Goldman Sachs /quotes/comstock/13*!gs/quotes/nls/gs (GS 174.68, -0.32, -0.18%)  is expected to post fourth-quarter earnings of $3.76 a share, according to FactSet.

TODAY'S TOP MARKET STORIES

S&P 500 (1 YEAR)

• Market Snapshot: U.S. stocks in focus • Today's biggest advancing, declining stocks • Sign up for free, breaking-news email alerts

Earnings Watch | Earnings, updates, warnings

THE MARKET BY SECTOR | Industries • Tech Stocks | Energy Stocks | Retail Stocks • Financials | Airline Stocks | Pharma and Biotech

EXPANDED MARKETS NEWS • Bonds | Oil news | Gold news • Currencies | Market Data • Economic Calendars: U.S. | Global • See all the latest markets video

/conga/story/misc/markets.html 118590

Wells Fargo & Co. /quotes/comstock/13*!wfc/quotes/nls/wfc (WFC 32.49, -0.26, -0.79%)  is also expected to report ahead of the open. The consensus estimate is for earnings of 61 cents a share.

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NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Wednesday, Jan 19, 2011 :

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
CREE $62.90 $52.86 (16.0%) 89,923


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 $198790528 $129.55 0.0% | C 10,867,906 $4.79 ( 0.3%)
AAPL $92,357,940 $347.42 1.9% | SPY 1,532,459 $129.55 0.0%
GS $59,945,529 $169.38 ( 3.0%) | BAC 847,466 $14.88 ( 0.8%)
C $52,297,927 $4.79 ( 0.3%) | GS 351,665 $169.38 ( 3.0%)
IWM $17,548,327 $80.55 ( 0.1%) | FAZ 338,385 $8.48 1.9%
QQQQ $14,695,980 $57.21 0.1% | AAPL 266,570 $347.42 1.9%
BAC $12,626,185 $14.88 ( 0.8%) | QQQQ 256,729 $57.21 0.1%
BHP $10,681,150 $91.59 0.1% | WFC 221,558 $32.44 ( 0.2%)
WFC $7,096,179 $32.44 ( 0.2%) | IWM 217,683 $80.55 ( 0.1%)
GOOG $6,705,522 $643.84 0.7% | SDS 198,143 $22.40 0.0%


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.
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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.
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Copyright [2011] by NYSE Euronext. All rights reserved. Reproduction and redistribution prohibited without prior express consent.

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