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Weaker Revenues Expected to Pull Down Stocks

Disappointing earnings from Goldman Sachs and IBM are expected to send North American stock markets into negative territory at this morning’s open. A weaker-than-expected housing starts report is also giving investors the jitters this morning.

Ahead of the opening bell, Dow Jones industrial average futures fell 84, or 0.8 percent, to 9,976. Standard & Poor’s 500 index futures dropped 10.10, or 1 percent, to 1,054, while Nasdaq 100 index futures fell 17, or 0.9 percent, to 1,789.

Source: Associated Press

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Posted by Dean Popplewell at 9:37 am UTC, 05/23/2012
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May
24
Today’s Global
Market Events
8:30am

CAD
Corporate Profits q/q
9.0%
USD
Core Durable Goods Orders m/m
1.1% vs. -0.8%
USD
Unemployment Claims
372K vs. 370K
USD
Durable Goods Orders m/m
0.5% vs. -4.0%
9:00am

EUR
ECB President Draghi Speaks
EUR
Belgium NBB Business Climate
-10.6 vs. -10.7
10:30am

USD
FOMC Member Dudley Speaks
USD
Natural Gas Storage
77B vs. 61B
1:00pm

USD
FOMC Member Dudley Speaks
3:00pm

USD
Treasury Sec Geithner Speaks
7:30pm

JPY
Tokyo Core CPI y/y
-0.5% vs. -0.5%
JPY
National Core CPI y/y
0.1% vs. 0.2%