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Reply #7: Pre-Market Update and Blather 8:37 EST
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RawMaterials
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Wed Jan-05-05 08:40 AM
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7. Pre-Market Update and Blather 8:37 EST |
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Market Update
8:30AM: S&P futures vs fair value: +0.2. Nasdaq futures vs fair value: flat. Still shaping up to be a relatively flat open for the indices... Bristol-Myers (BMY) could be in focus after reports suggest it may sell its Excedrin line for as much as $1 bln... Monsanto (MON) has matched analysts' Q1 (Nov) EPS forecasts of $0.13 and reaffirmed FY05 (Aug) guidance while American International Group (AIG) has hiked its dividend by 67%... Crude oil has fallen $0.37 to $43.54/bbl in pre-market trading
8:00AM: S&P futures vs fair value: -0.2. Nasdaq futures vs fair value: -2.0. Futures market versus fair value suggesting a flat to slightly lower open for the cash market... Investors appear to be taking a more cautious approach in pre-market trading following two straight sessions that opened higher only to close much lower... Weakness in overseas markets following renewed inflation fears fueled by the Fed's meeting minutes and a lack of market-moving news is also contributing to a somewhat uneventful start as investors await Dec ISM services data (10:00 ET) and weekly oil inventories (10:30 ET)
6:24AM: S&P futures vs fair value: +0.8. Nasdaq futures vs fair value: +2.0.
6:24AM: FTSE...4811.50...-35.50...-0.7%. DAX...4254.76...-35.74...-0.8%.
6:24AM: Nikkei...11437.52...-80.23...-0.7%. Hang Seng...13764.36...-281.54...
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