logo
  Join        Login             Stock Quote

Futures Fall On 'Cliff' Concerns; Yum! Brands (YUM) Gains

 December 24, 2012 09:13 AM
 


(By Balachander) U.S. stock-index futures pointed to a lower open on a holiday-shortened trading day for Wall Street amid uncertainty whether an agreement will be reached in Washington to avert the looming "fiscal cliff".

Mini Dow Industrial Average futures dropped 32 points to 13,104. The Nasdaq futures shed 5.50 points to 2,655. Standard and Poor's 500 futures retreated 4.20 points to 1,421.70.

On Friday, U.S. stocks ended sharply lower as a continuing impasse on talks in Washington to avert the looming "fiscal cliff" dented sentiment.

President Barack Obama and U.S. House Speaker John Boehner are negotiating to address the so-called "fiscal cliff" of roughly $600 billion in spending cuts and tax increases set to begin in January.

[Related -Yahoo! Inc. (NASDAQ:YHOO): What Will Drive Future Revenue For Yahoo!?]

The stock market will close at 1 p.m. EST for the Christmas holiday.

There are no U.S. economic data set for release on Monday.

Hot Stocks Of The Day: YHOO, YUM, RF, AEGR, ALXA

In corporate news, Yahoo! Inc. (NASDAQ: YHOO) may be in focus. Needham raised price target on the stock to $26 from $19.

Yum! Brands Inc. (NYSE: YUM) rose 1.28 percent in premarket. The level of antibiotics used in chicken served in the restaurant operator's KFC restaurants complied with official limits, the Chinese health regulators said.

[Related -Yum! Brands, Inc.(NYSE:YUM): An Attractive Stock To Own Given Potential EPS Growth]

Regions Financial Corp. (NYSE: RF) shed 1.41 percent in premarket. The bank is the subject of a probe by federal agencies, the Wall Street Journal reported.

Aegerion Pharmaceuticals Inc. (NASDAQ: AEGR) said the U.S. health regulators have cleared its drug to treat a rare genetic disease that results in extreme elevation of blood cholesterol levels.

Alexza Pharmaceuticals Inc. (NASDAQ: ALXA) tumbled 12.78 percent in premarket. The U.S. Food and Drug Administration on Friday approved the company's Adasuve inhalation powder to treat schizophrenia and bipolar disorder.

Global Markets

European markets traded mixed, with Germany's DAX losing 0.47 percent to trade at 7,636.23. France's CAC40 fell 0.24 percent to trade at 3,652.61. The U.K.'s FTSE 100 rose 0.24 percent to trade at 5,954.18.

Asian markets ended mixed, with China's Shanghai Stock Exchange Composite Index up 0.27 percent to finish at 2,159.05. Hong Kong's Hang Seng Index rose 0.16 percent to end at 22,541.18. India's BSE Sensex ended at 19,255, up 0.07 percent. The Japanese market is shut for a holiday.

Commodity & Currency Scan

Ahead of the opening bell, crude oil futures dipped 0.29 percent to $88.42 per barrel. Gold futures inched up 0.02 percent to $1,660.30 per ounce.

In the currency market, the euro added 0.24 percent against the U.S. dollar to 1.3220, while the British pound slid 0.01 percent to 1.6170. The dollar gained 0.30 percent against the Japanese yen to 84.4900.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.