Market news
17.12.2010, 14:21

Before the bell: Stocks poised for flat open

U.S. stocks were poised to start little changed Friday, as investors mull over the tax-cut deal that was passed by the House late Thursday.
Late Thursday, the House of Representatives gave final approval to the $858-billion tax deal hammered out between President Obama and Republicans. The bill passed the compromise by 277-148, and is now awaiting the President's signature. The Senate passed the bill on Wednesday.
"Up until close of business yesterday, there were Democrats in the House saying 'over my dead body,' so the fact that it went through before midnight will be positive for investors," said Peter Bible at EisnerAmper LLP.

On Thursday, stocks closed at two-year highs, with two of the three major indexes hitting their highest levels since September 2008. Stocks ticked higher, as investors digested mixed reports on housing and jobs data that came out before the opening bell Thursday.
Economy: After the opening bell, an index on leading economic indicators for November is expected to increase 1.2%, after a 0.5% rise the month before.
Companies: After the bell on Thursday, Oracle (ORCL, Fortune 500) and Research in Motion (RIMM) announced their past-quarter financial results - both beat Wall Street analysts' estimates for earnings and revenue.
Marshall & Ilsley (MI) will be acquired by Canada's BMO Financial in a stock-swap deal valued at $4.1 billion. The transaction is based on a share price of $7.75 - nearly 34% premium over Marshall & Ilsley's closing price on Thursday. In premarket trading, shares of Marshall & Ilsley jumped 27%.
Other regional banks - which have been especially hard hit during the recession - were poised to rally at the open. Regions Financial (RF, Fortune 500), Zions Bancorp (ZION), and KeyCorp (KEY, Fortune 500) were all up in premarket trade.
Eurozone jitters persisted Friday. Ratings agency Moody's downgraded Ireland's debt citing "increased uncertainty regarding the country's economic outlook," "decline in the Irish government's financial strength" and bank related concerns. Earlier in the week, Irish officials accepted IMF funds connected to its €85 billion bailout.

© 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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
Feedback
Live Chat E-mail
Up
Choose your language / location