Futures Flat on Global Manufacturing Data
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European Markets
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Pre-Market Movers
BY Matthew Kanterman
Top News
- The FOMC kept its foot on the proverbial pedal Wednesday in voting to keep policy constant. Although members debated extensively the costs and benefits of additional easing, the committee agreed that more accommodation was necessary in the face of fiscal tightening.
- Germany's manufacturing sector showed a renewed contraction after two months of expansion as the manufacturing PMI fell to 48.9 from 50.3 on expectations of a rise to 50.5.
- New Zealand's fourth quarter GDP rose much more than expected, climbing 1.5 percent from the previous quarter on expectations of a 0.9 percent gain. The data is the latest strong data point from Australia and New Zealand, showing renewed strength in both economies.
- S&P 500 futures fell 1.3 points to 1,547.70.
- The EUR/USD was lower at 1.2905.
- Spanish 10-year government bond yields fell to 4.95 percent from 4.98 percent.
- Italian 10-year government bond yields fell to 4.6 percent from 4.66 percent.
- Gold rose 0.01 percent to $1,607.70.
European Markets
Commodities
Currencies
EUR/USDEUR/GBPEUR/JPY
Pre-Market Movers
- Oracle (ORCL) shares fell 7.73 percent pre-market as the company reported worse than expected earnings due to currency fluctuations.
- Jabil Circuit (JBL) shares fell 4.52 percent pre-market as the company reported weaker than expected earnings.
- J.C. Penney (JCP) rose 1.24 percent as bondholders filed a noticed withdrawing their default notice, meaning that the company does not have to fight the bondholders in bankruptcy court.
- Zimmer Holdings (ZMH) shares rose 0.28 percent pre-market as the company announced an 11 percent rise in its first quarter dividend.
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Earnings- Lululemon (LULU) is expected to report fourth quarter EPS of $0.74 vs. $0.51 a year ago.
- Micron Technology (MU) is expected to report a fourth quarter loss of $0.20 per share vs. a loss of $0.29 per share a year ago.
- Nike (NKE) is expected to report third quarter EPS of $0.67 vs. $0.60 a year ago.
- Ross Stores (ROST) is expected to report fourth quarter EPS of $1.07 vs. $0.85 a year ago.
- Silver Wheaton (SLW) is expected to report fourth quarter EPS of $0.48 vs. $0.41 a year ago.
BY Matthew Kanterman