Fannie, Freddie, GE, & Oil at 2008-07-28 12:07:51
Good morning. Higher oil prices and expectation for the nationalization of Fannie and Freddie are depressing premarket futures after GE reported an inline but overall disappointing earnings report. In addition, global tension over Iran continues to heat up.
Premarket gainers: HPC, FPP, PDO, TGC, WYNN, MPEL,
Another Rough Week at 2008-07-28 12:07:51
Another rough week for the market. With war drums beating for Iran, new highs in oil, and fears over upcoming bank and financial failures, you don't have to look very far to understand why the market still remains under pressure.
For the week, the Dow lost -1.67%, the S&P 500 -1.85%, Nasdaq -0.28%, while the Russell 2000 gained +1.38%.
Next week promises to be a busy one (especially as
Rescue Plan For Fannie & Freddie at 2008-07-28 12:07:51 Good morning. Premarket futures are in rally mode after the U.S. Treasury and Federal Reserve announce a rescue plan to save Fannie & Freddie. The news is timely considering that the FDIC was forced to seize IndyMac Bancorp on Friday (the bailout will cost the FDIC an estimated $4-8 billion).
In other news, traders are also watching lower energy prices, strength in the U.S. dollar, and that Anheuser-Busch accepted a acquisition offer from InBev after the Belgian company sweetened its offer to $70 per share.
Premarket gainers: FNM, FRE, LEH, CRME,
Busy Day at 2008-07-28 12:07:51
Good morning. The market will face information overload with a number of economic data points, earnings, and speeches.
So far, reaction to this morning's data is profoundly negative with premarket futures pointing to another negative open. Among other things, a higher than expected PPI, weak retail sales, another big drop in the U.S. dollar, and a gain in oil prices have pressured premarket sentiment.
Premarket gainers:
Earnings, Oil, Inflation, & Fear at 2008-07-28 12:07:51
Good morning. Premarket futures have been volatile this morning as investors sort through a batch of earnings reports that were for the most part not as bad as previously feared (WFC, INTC, ABT, ) and another drop in oil prices. However, a much higher than expected CPI has restrained overall premarket sentiment.
Premarket gainers: ASYT, ANR, INTV, WFC, , WLT, TSL,
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