Political risk trumps economic data
David Russell | firstname.lastname@example.org
The earnings calendar begins to pick up today, but the political standoff in Washington increasingly dominates market sentiment.
Costco, Fastenal, Family Dollar, and Progressive all report quarterly results before the opening bell. Germany is also scheduled to announce industrial production early in the session.
The main U.S. economic event will be the release of minutes from the Federal Reserve's last meeting at 2 p.m. ET. While the Fed's actions had been investors' main concern recently, their policy decisions will likely be trumped by the government shutdown and risk of a payments crisis later this month.
Lawmakers and the White House remain deadlocked over the national budget, raising questions about their ability to raise the national debt ceiling as needed by Oct. 17. Markets fell sharply yesterday after leaders held competing press conferences, standing their ground without offering any apparent concessions to the other side.
Tomorrow's agenda includes monthly same-store sales by retailers, plus earnings from Micron Technology and Safeway in the afternoon. Attention shifts to big banks on Friday morning as JP Morgan and Wells Fargo report. The financial focus continues into next week with quarterly results from Citigroup on Tuesday, Bank of America on Wednesday, and Goldman Sachs on Thursday.
Stocks fall amid Yemen airstrikes
March 26, 2015
S&P 500 futures are down 0.7 percent, while the Nasdaq remained weaker with a drop of 1 percent. European indexes slid 1-2 percent, and Asia was broadly lower overnight. Oil and the yen are surging.
Jobless claims lead quiet calendar
March 26, 2015
The report at 8:30 a.m. ET is expected to show that 290,000 Americans sought unemployment benefits for the first time, down slightly from 291,000 the previous week.
Stocks edge lower, drifting in range
March 25, 2015
S&P 500 futures are down 0.1 percent as investors wait for the next catalyst. European stocks are lower as well, while Asia was little-changed overnight.
Stocks inch higher, lifted by Europe
March 24, 2015
S&P 500 futures rose 0.2 percent. They're following the move across the Atlantic, where Markit's purchasing managers index rose more than expected to its highest level in almost four years.
Cramer: Time to ring cash register
March 23, 2015
Let's not forget that greed is bad, not good. We have such fabulous gains here and you have to ask yourself if you have taken anything off the table.