- Analytics
- News and Tools
- Market News
- Before the bell: Stocks set to pull back
Before the bell: Stocks set to pull back
U.S. stocks were poised to open lower Monday, following a report on manufacturing. Investors were also keeping an eye on easing oil prices and the next steps for the nation's debt, as it reached its legal limit.
Just two weeks ago, stocks were sitting at the highest levels in nearly 3 years. But investors are bracing for the conclusion of the Fed's bond buying program at the end of June. All three major indexes are down almost 2% in May.
Economy: The Empire Manufacturing survey came out before the start of trading. The regional reading for general business conditions for manufacturing slipped to 11.9. The index was 21.7 in April.
After the opening bell, the National Association of Homebuilders is scheduled to release its housing market index for May. The index is forecast to remain unchanged at 16.
Companies: A number of major retailers report earnings results this week.
Shares of home improvement chain Lowe's (LOW, Fortune 500) fell 5% in premarket trade, after the company reported earnings that fell short of forecasts and it reigned in its forecast.
Department store J.C. Penney (JCP, Fortune 500) reported a profit of 28 cents per share, topping expectations by 4 cents. Shares rose 5% in premarket trade.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
