Pre-Market: Wall Street To Try For Early Gains, Supported By European Vote, Durable Goods Details

 Sep 28, 2011 |

 

-Dow Jones Industrial futures up 35 points. -S&P 500 futures up 3 points.

-Nasdaq 100 futures up 4 points.

-Nasdaq-100 Pre-Market Indicator up 5.46 at 2,259.01

GLOBAL SENTIMENT

Nikkei up 0.1%.

Hang Seng down 0.7%.

Shanghai Composite down 1%.

FTSE-100 down 0.5%.

DAX-30 down 0.1%.

PRE-MARKET SECTOR WATCH

(+) Large cap tech: mostly firmer

(+) Chip stocks: mostly firmer

(+,-) Software stocks: mixed

(+,-) Hardware stocks: mixed

(+) Internet stocks: mostly firmer

(+,-) Drug stocks: mixed

(+) Financial stocks: firmer

(-,+) Retail stocks: mixed

(-,+) Industrial stocks: mixed

(+,-) Airlines: mixed

(+) Autos: mostly firmer

UPSIDE MOVERS

(+) JBL (+9%) continues evening gain that followed earnings beat.

(+) AMZN (+1%) expected to roll out tablet.

(+) AAPL (flat) tracking potential AMZN news; gets favorable analyst note.

(+) PAYX (bid firms to 26.72) gained late Tuesday on earnings beat.

(+) ACN (+3.5%) continues Tuesday gain that followed Q4 beat.

(+) ACTS (+12.8%) continues Tuesday gain that followed raised Q3 guidance.

(+) CTIC (+7%) gains on study data.

(+) GM (+0.3%) union contract expected to pass.

(+) MAS (+2%) upgraded.

DOWNSIDE MOVERS

(-) RL (-1.1%) downgraded.

(-) AVGO (-3.7%) selling shares from stockholders.

(-) BZ (-2.4%) downgraded.

(-) FDO (-1.3%) slips despite Q4 earnings beat.

MARKET DIRECTION


U.S. stocks indicate a mildly firmer start as futures chop in mixed trading but find some additional traction after better-than-expected details within the latest U.S. factory sector snapshot. Choppy trading has persisted ahead of the bell, tracking similar volatile moves in European markets. The Greek debt resolution remains the main news driver of global financial markets.

U.S. orders for durable goods dipped 0.1% in August as demand fell for primary metals, motor vehicles and large defense products excluding aircraft, the Commerce Department said. Economists surveyed by MarketWatch had expected orders to rise by 0.4%. The closely followed core capital orders reading, which gives a better read on trends in the private sector, rose 1.1%, not the dip that economists expected. In addition, shipments of core capital equipment goods, which the government uses to help calculate gross domestic product, rose 2.8% last month.


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