Market Snapshot
Asia Markets Japan +0.4% to 18265. Hong Kong closed. China closed. India +0.5% to 29462.
In Europe, at midday, London -0.1%. Paris +0.5%. Frankfurt +0.3%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq flat. Crude -3.9% to $50.76. Gold +1.4% to $1216.90.
Ten-year Treasury Yield -7 bps to 2.06%
Economic News
8:30 Initial Jobless Claims
10:00 Philly Fed Business Outlook
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
Key earnings before the open
ACTA, AGI, ANIP, ARIA, ATRO, AYR, BBW, BCC, BLMN, BRC, CBB, CCC, CLI, CVI, CVRR, DAN, DAVE, DISCA, DNR, DTV, DWRE, FCN, FUN, GEL, GG, HII, HRL, HST, IDA, IDCC, IMAX, IRC, LINE, LPLA, LXP, MTRN, NBL, NM, PCLN, PDCE, PDCO, PWR, RS, SCG, SGNT, SYNT, TK, TTC, UAN, UPL, VNDA, WMT, WST
Key earnings after the close
ACTG, AHS, ANET, AUQ, BAS, BEAT, BLDR, BRCD, BRKR, CYH, ED, EGO, EQIX, EXR, FNGN, FPO, FR, FRGI, FTR, FUEL, GEN, HY, INAP, INTU, IPCM, JWN, MHK, MRC, MRVL, NDLS, NEM, PSA, ROVI, SAAS, SEM, SPN, SPNC, SSRI, TEP, TRMR, TSRO, WIRE, WRE, XNPT, TRUE
U.S. stocks opened lower today as investors appear to be cautious in the wake of another dip in oil prices and uncertainty around the Greece debt negotiations. The drama between Greece and the eurozone was ratcheted overnight, after Germany rejected Greece’s request for a six-month loan extension agreement just three hours after it was submitted. Better-than-expected jobless claims did little to alleviate investor fears, as the S&P 500 opened down 6 points, or 0.3%, lower at 2,093, while the Dow Jones Industrial Average opened down 73 points to 17,955. The Nasdaq Composite began the day 4 points lower at 4,902. Exxon Mobil says California’s workplace safety agency ordered the shutdown of its 100K bbl/day gasoline producing unit at its Torrance refinery yesterday. A blast ripped through the structure in the afternoon, injuring four people. The agency says the shutdown of the unit could last up to six months, and an investigation is underway. Of note: the plant supplies a significant portion of Northern California’s gasoline supply, which could translate into a surge in gas prices for the region. Priceline (PCLN) is rumored to be planning a $20M acquisition of hotel-booking startup Rocketmiles. The deal comes as Expedia (EXPE) awaits regulatory approval to buy rival Orbitz (OWW) for $1.6B. Wal-Mart (WMT) reported adjusted quarterly profit that topped Wall Street’s expectations, but revenue missed estimates and its forecasts disappointed.
Stocks