Wednesday, January 11, 2012

stocks market down Federal US Economic Data jan 11 2012

stocks market down Federal US Economic Data jan 11 2012 : U.S. stock futures retreated, indicating the Standard & Poor’s 500 Index will snap a two-day advance, as Microsoft Corp. (MSFT) declined and amid concern that Europe’s debt crisis will stifle global economic growth.

Microsoft lost 1.4 percent after saying that industrywide sales of personal computers will probably be lower than analysts projected. MetLife Inc. (MET) dropped 2.3 percent as the insurer plans to quit its mortgage business and cut most of the workers at the unit. Urban Outfitters Inc. (URBN) tumbled 16 percent as its chief executive officer resigned. Supervalu Inc. (SVU) sank 10 percent as earnings at the supermarket chain missed estimates.

S&P 500 futures expiring in March lost 0.2 percent to 1,283.30 at 8:57 a.m. New York time. The benchmark gauge rose 1.1 percent over the previous two days. Dow Jones Industrial Average futures fell 23 points, or 0.2 percent, to 12,367.

U.S. stocks rose yesterday, sending the S&P 500 to its highest level since July, amid bets that China may act to spur economic growth. Investors also watched fourth-quarter earnings reports. S&P 500 companies, which beat analysts’ estimates in the previous 11 quarters, are forecast to report a 6 percent increase in per-share profit during the September-December period, according to projections compiled by Bloomberg.

Global stocks fell as Germany’s Federal Statistics Office said the economy probably shrank in the fourth quarter from the third, and the European Union cut euro-area growth to 0.1 percent in the third quarter, from 0.2 percent estimated earlier. The U.S. Federal Reserve is due to release its Beige Book survey of economic conditions today. Spain and Italy will sell as much as 17 billion euros ($22 billion) in debt tomorrow. For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

No comments:

Post a Comment