Day Ahead: Futures Waver After the Tumble

 | Apr 08, 2014 | 9:05 AM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:




U.S. futures were up fractionally Tuesday morning after Wall Street's three-session tumble, and against a backdrop of continued tensions in Ukraine. On Monday, the Dow industrials led the major averages downward with a triple-digit loss, and the S&P 500 has now given up all of its prior gains for 2014, and the Nasdaq has lost more than 2% year to date.

Overseas, European stocks were weaker as Russia warned Ukraine to cease all military preparations. That came after Ukraine sent additional police forces into the eastern part of the country following seizure of several government buildings by pro-Russian protesters.

In Asian markets, Japan's Nikkei 225 took a fall, though the Hang Seng closed higher.

On the U.S. economic front, the March optimism index from the National Federation of Independent for March rose to a better-than-expected 93.4 from February's 91.4 reading. Also, when the Labor Department's February Job Openings and Labor Turnover Survey (JOLTS) report is released at 10 a.m. ET, the job-openings number is expected to be flat with January's 4 million figure.

We're also set to hear from several Federal Reserve officials ahead of Wednesday's release of the Federal Open Market Committee minutes from the March meeting. The Minneapolis Fed's Narayana Kocherlakota is set to speak at 1:30 p.m., the Philly Fed's Charles Plosser is due at 2:45 p.m. and the Chicago Fed's Charles Evans is scheduled for 4 p.m. 

Away from that, the traditional start of earnings season gets under way tonight with a report from Alcoa (AA) after the closing bell. The aluminum producer is expected to earn a nickel per share on revenue of $5.6 billion for the most recent quarter. Also look for results from lubricant maker WD-40 (WDFC). 

Meanwhile, the recent IPO frenzy continues, with three more companies expected to debut shares this week: Enable Midstream PartnersAldexa Therapeutics and Farmland Partners, whose ticker symbols will be "ENBL," "ALDX" and "FPI." 

Columnist Conversations

In GS I see key price support at the 224.49-226.42 area.  I also have timing for a possible low.  I ...
Tesla (TSLA) has tested our long-term bounce zone @ 283.90-258.95 a few times. These have been BUYING opportun...
We have a big winner here, let's roll it up to a higher strike   SOLD SRPT NOV 140 CALL AT 26 (in ...
We still like this name and want to give it more time. SOLD AAPL OCT 220 CALL AT 6.9 (in at 10) BOUGHT A...



News Breaks

Powered by


Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.