Market news
15.07.2011, 13:29

Before the bell: US Stock Futures rose

S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +21.00. Equity futures edged higher to their best levels of the morning following the top and bottom line beats by Citigroup (C) before slipping on the data release. The banking giant posted earnings per share of $1.09 (Capital IQ Consensus Estimate of $0.96) and saw revenues climb to $20.62 billion (Capital IQ Consensus Estimate of $19.76 billion). 

So far, this morning's data has featured a disappointing Empire Manufacturing Survey reading of -3.8 for July. The consensus among economists surveyed by Briefing.com had called for a reading of 1.0 after a reading of -7.8 was posted for the prior month. Consumer price inflation data were also just reported. Overall CPI for June decreased by 0.2%, which is a bit cooler than the 0.1% decrease that had been broadly anticipated. Core CPI increased by 0.3%.

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