Stock futures are sporting a commanding lead over fair value, suggesting a markedly higher start for the major indices may be in order.
A late selloff in the final hour of the prior session has failed to carry over into premarket trading.
Instead, participants are bidding stocks higher ahead of the opening bell as they respond to better-than-expected earnings results from the likes of consumer-dependent companies Apple (AAPL) and eBay (EBAY), along with energy outfits ConocoPhillips (COP), National Oilwell Varco (NOV), and Occidental Petroleum (OXY). Utilities giant Exelon (EXC), regional bank PNC Financial (PNC), and medical equipment company Zimmer Holdings (ZMH) beat earnings expectations as well.
Cement makers continued their strong surge after China National Building Materials said sales the first quarter climbed 72%.
Separately, weekly jobless claims data continue to reflect a challenging job environment. Initial claims climbed in-line with expectations, but continuing claims keep advancing to record highs.
US Dollar weakened against euro, which would boost oil and materials sectors.
Crude oil for June delivery rose as much as 80 cents, or 1.6 percent, to $49.53 a barrel on New York Mercantile Exchange.
Credit Suisse swings to Q1 profit that exceeded analysts’ estimates.
Profits have been better than estimated for 66 percent of the 124 companies in the S&P 500 that have reported quarterly results since April 7
Barclay's (BCS) chairman indicated the company has no intention to raise more capital.
BP PLC (BP) is upgraded by analysts at Royal Bank of Scotland.
Goldman Sachs recommends Japanese automaker Toyota Motor (TM).
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狗仔卡
发表于 2009-4-22 07:07 PM
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