Stocks look to rebound from selloff
David Russell | email@example.com
Stocks and commodities are rebounding this morning after a big selloff yesterday.
S&P 500 futures rose by about two-tenths of a percent, compared with gains of more than half a percent in Europe. Asian markets fell sharply in the overnight session, following yesterday's U.S. tumble.
Equities are stabilizing after the S&P 500 touched its lowest levels since early August yesterday and Greece's parliament narrowly passed austerity measures that will help it avert a sovereign-debt default. Attention now turns to Washington, where Republican leaders in the House are sounding a conciliatory tone about deficit problems in the U.S.
Foreign exchange and commodities are mixed today. The euro is modestly lower after German exports fell, but oil is climbing by almost 1 percent. Copper and gold advanced by one-third of a percent, while silver is up by three-quarters of a percent. Agricultural foodstuffs are also mostly positive.
In company-specific news, Qualcomm is indicated to open higher after earnings and revenue beat expectations. Universal Display fell sharply after reporting a surprise loss and cutting its guidance. Monster Beverage is also down after increased promotional spending caused it to miss per-share earnings estimates.
Stocks attempt to stage a rebound
May 17, 2013
The main catalyst for the buyers appears to be coming from Asia, where Tokyo and Shanghai indexes rallied overnight amid positive Japanese economic data and signs that Chinese authorities will reduce economic regulations.
Equities are hovering at record levels
May 16, 2013
S&P 500 futures are indicated to open fractionally lower but have been nudging higher throughout the morning. The Nasdaq is up almost two-tenths of a percent after strong numbers from Cisco.
Equities in range after big gains
May 15, 2013
S&P 500 futures are little-changed, while most European indexes are posting small gains. Asian markets were mostly positive overnight, led by a 2 percent rally in Tokyo.
Wide range of events on calendar
May 15, 2013
German, France, and Italy will report preliminary gross domestic product numbers early in the morning, which could affect sentiment before the opening bell.
Another record day on Wall Street?
May 14, 2013
S&P 500 futures are fractionally higher after earlier falling by more than one-tenth of a percent. Europe is also fighting its way back to positive after posting slightly larger declines.