AI
Friday, June 20, 2008 9:11:30 PM
Market Update 080620
http://biz.yahoo.com/mu/update.html
4:20 pm : Friday was an options expiration date, making for heavy volume as traders entered the market in droves. However, the session’s tone was pessimistic as concerns surrounding financial and bank stocks bled into other sectors.
Within the financial sector (-2.5%), bond insurers MBIA (MBI 5.59, -0.86) and Ambac (ABK 2.05, +0.02) had their ratings cut by Moody's and were given a negative outlook. Fellow ratings agencies Fitch and Standard & Poor’s already trimmed their ratings on bond insurers.
Matters in the financial sector were made worse as Merrill Lynch reduced its earnings estimates for a host of banks on concerns of credit risk, capital raises, and possible dividend cuts.
Large-cap tech also encountered stiff selling pressure during the session, offsetting yesterday’s advance. Notably, the Nasdaq 100 fell 2.7%, hurt by easily recognizable Apple (AAPL 175.27, -5.63), Microsoft (MSFT 28.23, -0.70), and Google (GOOG 546.43, -13.77).
In terms of corporate headlines, Boeing (BA 75.83, -1.12) announced it is closer to delivering its highly anticipated 787 Dreamliner after completing a key task. Shares of BA still traded lower amid the day’s raft of selling.
Ford Motor Company (F 5.88, -0.44) stated it will further cut truck production. The company is shifting focus to match consumers’ appetite for more fuel efficient automobiles amid high fuel costs. Notably, Ford had its outlook lowered by Moody’s to negative from stable, reflecting the challenging environment faced by domestic auto manufacturers. General Motors (GM 13.79, -1.00) was also put on CreditWatch with negative implications. The automobile manufacturers industry finished the session 7.6% lower.
Amid speculation whether Belgian brewer InBev will succeed in its effort to acquire Anheuser-Busch (BUD 60.67, -0.38), the St. Louis-based brewer announced it acquired the remaining 50% of Crown Beers India Ltd. from its partner, Crown International. Additionally, Carlos Fernandez, chairman and CEO of Mexican brewer Grupo Modelo, resigned from Anheuser-Busch’s board. Anheuser-Busch has a stake in Grupo Modelo and previously approached the company in regard to expanding its relationship.
Stocks closed the session off their lows, but with significant losses. For the week, the S&P 500 lost 3.1%. The stock market has lost 5.9% month-to-date, and is down 10.3% year-to-date.DJ30 -220.40 NASDAQ -55.97 NQ100 -2.7% R2K -1.6% SP400 -1.8% SP500 -24.90 NASDAQ Dec/Adv/Vol 2088/774/2.57 bln NYSE Dec/Adv/Vol 2574/566/2.01 bln
3:30 pm : Heading into the final leg of the session stocks continue to show heavy losses, despite trading off their lows. The Dow is down 1.6%, the Nasdaq has lost 2.4%, and the S&P 500 is down 1.8%.
Of the Dow's 30 components, only Coca-Cola (KO 53.32, +0.02) has resisted falling into the red.
Treasuries have advanced in a flight to quality. The 10-year note is up 17 ticks.DJ30 -213.73 NASDAQ -60.44 SP500 -24.61 NASDAQ Dec/Adv/Vol 2228/602/2.06 bln NYSE Dec/Adv/Vol 2641/480/1.40 bln
3:00 pm : The major indices fall to session lows. Selling pressure is mostly broad-based, with nine of the ten sectors down more than 1%. Energy, the best performing-sector on a relative basis, is down 0.9%.
Volume has been on the heavy side this session, with notable trading activity this morning, due to quadruple witching -- when contracts for stock index futures, stock index options, stock options and single stock futures all expire.
The S&P 400, a mid-cap index, is back in negative territory for the year following this session's 1.9% decline. However, its year-to-date decline of 0.6% is well ahead of the S&P500's drop of 10.5%.DJ30 -236.53 NASDAQ -64.99 SP500 -27.87 NASDAQ Dec/Adv/Vol 2244/587/1.88 bln NYSE Dec/Adv/Vol 2658/454/1.28 bln
2:30 pm : Large-cap tech names continue to encounter heavy selling pressure. The Nasdaq 100 is currently down 2.6%. Perpetrators in the index are among the most recognizable, including Apple (AAPL 176.19, -4.71), Microsoft (MSFT 28.23, -0.70), and Google (GOOG 547.47, -12.73). Each of these stocks are at their worst levels of the session.
Outside of large-cap tech, financials (-2.6%) and energy (-0.9%) have been a drag. Financials rebounded from their lows at midday, but have succumbed to renewed selling pressure. Meanwhile, energy surrendered its gains from this morning and is now trading noticeably lower. DJ30 -209.49 NASDAQ -57.92 SP500 -24.59 NASDAQ Dec/Adv/Vol 2203/619/1.75 bln NYSE Dec/Adv/Vol 2614/482/1.20 bln
2:00 pm : Stocks continue to trade near their session low. The S&P 500 is down 1.7% this session, taking its year-to-date decline down to 10%. The stock market is now just 5.1% off its 52-week low, which was reached earlier this year in mid-March.
The dollar is showing some weakness, which makes imports pricier. The dollar index is down 0.6%.
Crude continues to sport gains. The commodity is up 1.4% and trading hands near $133.80 per barrel.DJ30 -197.44 NASDAQ -56.77 SP500 -22.89 NASDAQ Dec/Adv/Vol 2157/633/1.63 bln NYSE Dec/Adv/Vol 2582/499/1.13 bln
1:30 pm : After moving sideways for much of the afternoon, the stock market has tripped and fallen lower. In turn, the major indices have found new session lows.
Pessimism has been prevalent for the entire session; 85% of the S&P 500 components are trading lower.
General Motors (GM 13.83, -0.96) and Ford (F 5.86, -0.46) were placed on watch negative at Standard & Poor's. The stocks have fallen to their worst level of the session.
Small and mid-cap stocks also remain strongly out of favor. The Russell 2000 is down 2.1% and the S&P 400 is down 1.5%.DJ30 -187.92 NASDAQ -57.85 SP500 -21.44 NASDAQ Dec/Adv/Vol 2161/613/1.51 bln NYSE Dec/Adv/Vol 2555/507/1.06 bln
1:00 pm : Stocks remain largely unchanged from previous levels, holding on to substantial losses. All ten of the major economic sectors are showing losses.
Automobile manufacturers (-6.1%) are one of the weakest industries in Friday's trading. Shares of Ford Motor Company (F 5.88 -0.44) and General Motors (GM 14.10, -0.69) are both dragging.
The Dow Jones Transportation Average is down 1.9% this session. However, the index is up 13.6% year-to-date.DJ30 -134.99 NASDAQ -47.99 SP500 -16.63 NASDAQ Dec/Adv/Vol 2017/730/1.37 bln NYSE Dec/Adv/Vol 2435/588/993 mln
12:30 pm : After trying to pull off its morning lows the stock market has succumbed to selling pressure. Six of the major economic sectors are trading with losses in excess of 1.0%.
Tech names are being especially hard hit. The Nasdaq Composite is down 1.9% and the Nasdaq 100 is down 2.3%.
Anheuser-Busch (BUD 60.93, -0.12) confirmed it acquired the remaining 50% of Crown Beers India Ltd. from its partner, Crown International. Terms of the agreement were not disclosed.DJ30 -137.76 NASDAQ -46.99 SP500 -16.34 NASDAQ Dec/Adv/Vol 2044/700/1.29 bln NYSE Dec/Adv/Vol 2465/544/953 mln
12:05 pm : The session’s pessimistic tone has been evident since the opening bell. Each of the major indices are trading more than 1.0% lower and all ten of the major economic sectors are showing losses. Weakness centered around the financial sector (-1.1%) in the early going, though the sector has reclaimed much of its earlier losses.
Bond insurers MBIA (MBI 6.00, -0.45) and Ambac (ABK 2.00, -0.03) had their ratings cut by Moody's and were given a negative outlook. Ambac responded by saying the downgrade had no material impact on its obligations.
Boeing (BA 76.35, -0.60) announced it has completed a necessary electrical task in its 787 Dreamliner, which brings the company closer to delivering the much anticipated plane.
In terms of corporate governance, Carlos Fernandez, chairman and CEO of Mexican brewer Grupo Modelo, has resigned from the board of Anheuser-Busch (BUD 60.97, -0.08). Anheuser-Busch previously approached Grupo Modelo as part of an effort to rebuff InBev's buyout offer for Anheuser-Busch.
Large-cap tech has encountered considerable pressure, reversing yesterday’s gains. The Nasdaq 100 is down 2.1%, hurt primarily by Apple (AAPL 178.37, -2.53).
Ford (F 5.88, -0.44) announced further cuts to truck production as demand slows. The company is shifting focus in favor of cars and crossovers as high fuel costs weigh on consumers’ appetite for less fuel efficient automobiles.
Oil prices are up 2.3% so that crude is trading at $135 per barrel. Oil’s rebound is also weighing on investor sentiment.DJ30 -128.64 NASDAQ -42.44 SP500 -15.07 NASDAQ Dec/Adv/Vol 1933/781/1.20 bln NYSE Dec/Adv/Vol 2419/579/907 mln
11:30 am : Stocks are trending upward from their session lows, but remain deep in negative territory. Financials (-0.9%) are leading the upswing, having reclaimed a substantial portion of the day's losses.
Large-cap tech remains under considerable pressure. The Nasdaq 100 is down more than 2.0%. Apple (AAPL 177.53, -3.37) and Qualcomm (QCOM 48.81, -1.55) are weighing on the index.DJ30 -123.35 NASDAQ -39.27 SP500 -13.04 NASDAQ Dec/Adv/Vol 1936/723/1.06 bln NYSE Dec/Adv/Vol 2388/563/836 mln
11:05 am : Nine of the major economic sectors are trading with losses. Financials (-2.7%) remain in the worst shape. The sector also has the largest year-to-date loss, down 23.8% this year.
Ford (F 6.02, -0.30) announced further cuts to truck production as demand slows. The company is shifting focus in favor of cars and crossovers. The company also said that 2008 pretax automotive results will be worse than 2007.
Offshore oil well services company Transocean (RIG 149.25, +1.16) is showing some strength amidst the session's concerted selling efforts, helping lend support to the energy sector (+0.2%). Transocean won a contract extension to provide service to a subsidiary of BP (BP 66.97, -0.45).DJ30 -141.51 NASDAQ -46.66 SP500 -16.14 NASDAQ Dec/Adv/Vol 1988/638/907 mln NYSE Dec/Adv/Vol 2436/481/748 mln
10:30 am : Though off its morning low, the stock market continues to sport strong losses in Friday's early going. The morning's losses are broadbased - only the energy sector (+0.2%) is showing a gain.
Oil prices have rebounded to reclaim their recent losses. Crude is currently trading 3.25% hihger at $136.20 per barrel.
The pessimism surrounding equities has prompted buying in Treasuries. The benchmark 10-year Note is up 18 ticks, lowering its yield to 4.13%.DJ30 -150.63 NASDAQ -40.25 SP500 -16.84 NASDAQ Dec/Adv/Vol 1913/621/722 mln NYSE Dec/Adv/Vol 2396/454/649 mln
10:00 am : Each of the major indices is trading more than 1.0% lower. The Nasdaq is the leading loser, down 1.5%.
Weighing on the tech heavy Nasdaq are the likes of Apple (AAPL 178.03, -2.87), Cisco (CSCO 24.94, -0.59), and Intel (INTC 22.40, -0.45). Each made gains in yesterday's session.DJ30 -146.80 NASDAQ -32.05 SP500 -15.35 NASDAQ Dec/Adv/Vol 1657/711/511 mln NYSE Dec/Adv/Vol 2119/644/542 mln
09:40 am : Stocks have opened in dismal fashion. Nine of the ten major economic sectors are showing losses, five of which are down 1.0% or more. Financials are the worst offender, down 2.5%.
Carlos Fernandez, chairman and CEO of Mexican brewer Grupo Modelo, has resigned from the board of Anheuser-Busch (BUD 61.28, +0.23). Anheuser-Busch had approached Grupo Modelo in the past as part of an effort to rebuff InBev's buyout offer for Anheuser-Busch. However, a report from Dow Jones indicated the Busch family sees more than a 50% chance that a deal between InBev and Anheuser-Busch will be reached.DJ30 -107.23 NASDAQ -27.62 SP500 -12.39 NASDAQ Dec/Adv/Vol 1567/612/373 mln NYSE Dec/Adv/Vol 2043/854/464 mln
09:16 am : S&P futures vs fair value: -9.9. Nasdaq futures vs fair value: -16.5. Stock futures indicate a start well into negative ground shortly ahead of the session's opening. Boeing (BA) announced it has completed a major milestone in the completion of its 787 Dreamliner.
09:00 am : S&P futures vs fair value: -12.1. Nasdaq futures vs fair value: -19.2. Stocks remain on track to open in negative ground. Despite caution surrounding financial and bank stocks, Citigroup has a favorable view of shares in Lehman Brothers (LEH) and Morgan Stanley (MS).
08:30 am : S&P futures vs fair value: -11.4. Nasdaq futures vs fair value: -17.0. Stock futures continue to indicate a sharply lower start to the week's final trading session. MBIA (MBI) had its rating cut to A2 from Aaa at Moody's. Moody's also lowered its rating on Ambac's (ABK) Ambac Assurance to Aa3 from Aaa.
08:00 am : S&P futures vs fair value: -13.0. Nasdaq futures vs fair value: -17.2. Futures currently indicate a markedly lower start to Friday's trading. Concern related to European bank stocks are carrying over to U.S. premarket trading.
06:26 am : S&P futures vs fair value: -5.8. Nasdaq futures vs fair value: -8.8.
06:25 am : FTSE...5707.60...-0.80...-0.0%. DAX...6716.68...-4.49...-0.1%.
06:25 am : Nikkei...13942.08...-188.09...-1.3%. Hang Seng...22745.60...-52.01...-0.2%.
My posting is for my own entertainment, do your own DD before pushing your buy/call button
http://biz.yahoo.com/mu/update.html
4:20 pm : Friday was an options expiration date, making for heavy volume as traders entered the market in droves. However, the session’s tone was pessimistic as concerns surrounding financial and bank stocks bled into other sectors.
Within the financial sector (-2.5%), bond insurers MBIA (MBI 5.59, -0.86) and Ambac (ABK 2.05, +0.02) had their ratings cut by Moody's and were given a negative outlook. Fellow ratings agencies Fitch and Standard & Poor’s already trimmed their ratings on bond insurers.
Matters in the financial sector were made worse as Merrill Lynch reduced its earnings estimates for a host of banks on concerns of credit risk, capital raises, and possible dividend cuts.
Large-cap tech also encountered stiff selling pressure during the session, offsetting yesterday’s advance. Notably, the Nasdaq 100 fell 2.7%, hurt by easily recognizable Apple (AAPL 175.27, -5.63), Microsoft (MSFT 28.23, -0.70), and Google (GOOG 546.43, -13.77).
In terms of corporate headlines, Boeing (BA 75.83, -1.12) announced it is closer to delivering its highly anticipated 787 Dreamliner after completing a key task. Shares of BA still traded lower amid the day’s raft of selling.
Ford Motor Company (F 5.88, -0.44) stated it will further cut truck production. The company is shifting focus to match consumers’ appetite for more fuel efficient automobiles amid high fuel costs. Notably, Ford had its outlook lowered by Moody’s to negative from stable, reflecting the challenging environment faced by domestic auto manufacturers. General Motors (GM 13.79, -1.00) was also put on CreditWatch with negative implications. The automobile manufacturers industry finished the session 7.6% lower.
Amid speculation whether Belgian brewer InBev will succeed in its effort to acquire Anheuser-Busch (BUD 60.67, -0.38), the St. Louis-based brewer announced it acquired the remaining 50% of Crown Beers India Ltd. from its partner, Crown International. Additionally, Carlos Fernandez, chairman and CEO of Mexican brewer Grupo Modelo, resigned from Anheuser-Busch’s board. Anheuser-Busch has a stake in Grupo Modelo and previously approached the company in regard to expanding its relationship.
Stocks closed the session off their lows, but with significant losses. For the week, the S&P 500 lost 3.1%. The stock market has lost 5.9% month-to-date, and is down 10.3% year-to-date.DJ30 -220.40 NASDAQ -55.97 NQ100 -2.7% R2K -1.6% SP400 -1.8% SP500 -24.90 NASDAQ Dec/Adv/Vol 2088/774/2.57 bln NYSE Dec/Adv/Vol 2574/566/2.01 bln
3:30 pm : Heading into the final leg of the session stocks continue to show heavy losses, despite trading off their lows. The Dow is down 1.6%, the Nasdaq has lost 2.4%, and the S&P 500 is down 1.8%.
Of the Dow's 30 components, only Coca-Cola (KO 53.32, +0.02) has resisted falling into the red.
Treasuries have advanced in a flight to quality. The 10-year note is up 17 ticks.DJ30 -213.73 NASDAQ -60.44 SP500 -24.61 NASDAQ Dec/Adv/Vol 2228/602/2.06 bln NYSE Dec/Adv/Vol 2641/480/1.40 bln
3:00 pm : The major indices fall to session lows. Selling pressure is mostly broad-based, with nine of the ten sectors down more than 1%. Energy, the best performing-sector on a relative basis, is down 0.9%.
Volume has been on the heavy side this session, with notable trading activity this morning, due to quadruple witching -- when contracts for stock index futures, stock index options, stock options and single stock futures all expire.
The S&P 400, a mid-cap index, is back in negative territory for the year following this session's 1.9% decline. However, its year-to-date decline of 0.6% is well ahead of the S&P500's drop of 10.5%.DJ30 -236.53 NASDAQ -64.99 SP500 -27.87 NASDAQ Dec/Adv/Vol 2244/587/1.88 bln NYSE Dec/Adv/Vol 2658/454/1.28 bln
2:30 pm : Large-cap tech names continue to encounter heavy selling pressure. The Nasdaq 100 is currently down 2.6%. Perpetrators in the index are among the most recognizable, including Apple (AAPL 176.19, -4.71), Microsoft (MSFT 28.23, -0.70), and Google (GOOG 547.47, -12.73). Each of these stocks are at their worst levels of the session.
Outside of large-cap tech, financials (-2.6%) and energy (-0.9%) have been a drag. Financials rebounded from their lows at midday, but have succumbed to renewed selling pressure. Meanwhile, energy surrendered its gains from this morning and is now trading noticeably lower. DJ30 -209.49 NASDAQ -57.92 SP500 -24.59 NASDAQ Dec/Adv/Vol 2203/619/1.75 bln NYSE Dec/Adv/Vol 2614/482/1.20 bln
2:00 pm : Stocks continue to trade near their session low. The S&P 500 is down 1.7% this session, taking its year-to-date decline down to 10%. The stock market is now just 5.1% off its 52-week low, which was reached earlier this year in mid-March.
The dollar is showing some weakness, which makes imports pricier. The dollar index is down 0.6%.
Crude continues to sport gains. The commodity is up 1.4% and trading hands near $133.80 per barrel.DJ30 -197.44 NASDAQ -56.77 SP500 -22.89 NASDAQ Dec/Adv/Vol 2157/633/1.63 bln NYSE Dec/Adv/Vol 2582/499/1.13 bln
1:30 pm : After moving sideways for much of the afternoon, the stock market has tripped and fallen lower. In turn, the major indices have found new session lows.
Pessimism has been prevalent for the entire session; 85% of the S&P 500 components are trading lower.
General Motors (GM 13.83, -0.96) and Ford (F 5.86, -0.46) were placed on watch negative at Standard & Poor's. The stocks have fallen to their worst level of the session.
Small and mid-cap stocks also remain strongly out of favor. The Russell 2000 is down 2.1% and the S&P 400 is down 1.5%.DJ30 -187.92 NASDAQ -57.85 SP500 -21.44 NASDAQ Dec/Adv/Vol 2161/613/1.51 bln NYSE Dec/Adv/Vol 2555/507/1.06 bln
1:00 pm : Stocks remain largely unchanged from previous levels, holding on to substantial losses. All ten of the major economic sectors are showing losses.
Automobile manufacturers (-6.1%) are one of the weakest industries in Friday's trading. Shares of Ford Motor Company (F 5.88 -0.44) and General Motors (GM 14.10, -0.69) are both dragging.
The Dow Jones Transportation Average is down 1.9% this session. However, the index is up 13.6% year-to-date.DJ30 -134.99 NASDAQ -47.99 SP500 -16.63 NASDAQ Dec/Adv/Vol 2017/730/1.37 bln NYSE Dec/Adv/Vol 2435/588/993 mln
12:30 pm : After trying to pull off its morning lows the stock market has succumbed to selling pressure. Six of the major economic sectors are trading with losses in excess of 1.0%.
Tech names are being especially hard hit. The Nasdaq Composite is down 1.9% and the Nasdaq 100 is down 2.3%.
Anheuser-Busch (BUD 60.93, -0.12) confirmed it acquired the remaining 50% of Crown Beers India Ltd. from its partner, Crown International. Terms of the agreement were not disclosed.DJ30 -137.76 NASDAQ -46.99 SP500 -16.34 NASDAQ Dec/Adv/Vol 2044/700/1.29 bln NYSE Dec/Adv/Vol 2465/544/953 mln
12:05 pm : The session’s pessimistic tone has been evident since the opening bell. Each of the major indices are trading more than 1.0% lower and all ten of the major economic sectors are showing losses. Weakness centered around the financial sector (-1.1%) in the early going, though the sector has reclaimed much of its earlier losses.
Bond insurers MBIA (MBI 6.00, -0.45) and Ambac (ABK 2.00, -0.03) had their ratings cut by Moody's and were given a negative outlook. Ambac responded by saying the downgrade had no material impact on its obligations.
Boeing (BA 76.35, -0.60) announced it has completed a necessary electrical task in its 787 Dreamliner, which brings the company closer to delivering the much anticipated plane.
In terms of corporate governance, Carlos Fernandez, chairman and CEO of Mexican brewer Grupo Modelo, has resigned from the board of Anheuser-Busch (BUD 60.97, -0.08). Anheuser-Busch previously approached Grupo Modelo as part of an effort to rebuff InBev's buyout offer for Anheuser-Busch.
Large-cap tech has encountered considerable pressure, reversing yesterday’s gains. The Nasdaq 100 is down 2.1%, hurt primarily by Apple (AAPL 178.37, -2.53).
Ford (F 5.88, -0.44) announced further cuts to truck production as demand slows. The company is shifting focus in favor of cars and crossovers as high fuel costs weigh on consumers’ appetite for less fuel efficient automobiles.
Oil prices are up 2.3% so that crude is trading at $135 per barrel. Oil’s rebound is also weighing on investor sentiment.DJ30 -128.64 NASDAQ -42.44 SP500 -15.07 NASDAQ Dec/Adv/Vol 1933/781/1.20 bln NYSE Dec/Adv/Vol 2419/579/907 mln
11:30 am : Stocks are trending upward from their session lows, but remain deep in negative territory. Financials (-0.9%) are leading the upswing, having reclaimed a substantial portion of the day's losses.
Large-cap tech remains under considerable pressure. The Nasdaq 100 is down more than 2.0%. Apple (AAPL 177.53, -3.37) and Qualcomm (QCOM 48.81, -1.55) are weighing on the index.DJ30 -123.35 NASDAQ -39.27 SP500 -13.04 NASDAQ Dec/Adv/Vol 1936/723/1.06 bln NYSE Dec/Adv/Vol 2388/563/836 mln
11:05 am : Nine of the major economic sectors are trading with losses. Financials (-2.7%) remain in the worst shape. The sector also has the largest year-to-date loss, down 23.8% this year.
Ford (F 6.02, -0.30) announced further cuts to truck production as demand slows. The company is shifting focus in favor of cars and crossovers. The company also said that 2008 pretax automotive results will be worse than 2007.
Offshore oil well services company Transocean (RIG 149.25, +1.16) is showing some strength amidst the session's concerted selling efforts, helping lend support to the energy sector (+0.2%). Transocean won a contract extension to provide service to a subsidiary of BP (BP 66.97, -0.45).DJ30 -141.51 NASDAQ -46.66 SP500 -16.14 NASDAQ Dec/Adv/Vol 1988/638/907 mln NYSE Dec/Adv/Vol 2436/481/748 mln
10:30 am : Though off its morning low, the stock market continues to sport strong losses in Friday's early going. The morning's losses are broadbased - only the energy sector (+0.2%) is showing a gain.
Oil prices have rebounded to reclaim their recent losses. Crude is currently trading 3.25% hihger at $136.20 per barrel.
The pessimism surrounding equities has prompted buying in Treasuries. The benchmark 10-year Note is up 18 ticks, lowering its yield to 4.13%.DJ30 -150.63 NASDAQ -40.25 SP500 -16.84 NASDAQ Dec/Adv/Vol 1913/621/722 mln NYSE Dec/Adv/Vol 2396/454/649 mln
10:00 am : Each of the major indices is trading more than 1.0% lower. The Nasdaq is the leading loser, down 1.5%.
Weighing on the tech heavy Nasdaq are the likes of Apple (AAPL 178.03, -2.87), Cisco (CSCO 24.94, -0.59), and Intel (INTC 22.40, -0.45). Each made gains in yesterday's session.DJ30 -146.80 NASDAQ -32.05 SP500 -15.35 NASDAQ Dec/Adv/Vol 1657/711/511 mln NYSE Dec/Adv/Vol 2119/644/542 mln
09:40 am : Stocks have opened in dismal fashion. Nine of the ten major economic sectors are showing losses, five of which are down 1.0% or more. Financials are the worst offender, down 2.5%.
Carlos Fernandez, chairman and CEO of Mexican brewer Grupo Modelo, has resigned from the board of Anheuser-Busch (BUD 61.28, +0.23). Anheuser-Busch had approached Grupo Modelo in the past as part of an effort to rebuff InBev's buyout offer for Anheuser-Busch. However, a report from Dow Jones indicated the Busch family sees more than a 50% chance that a deal between InBev and Anheuser-Busch will be reached.DJ30 -107.23 NASDAQ -27.62 SP500 -12.39 NASDAQ Dec/Adv/Vol 1567/612/373 mln NYSE Dec/Adv/Vol 2043/854/464 mln
09:16 am : S&P futures vs fair value: -9.9. Nasdaq futures vs fair value: -16.5. Stock futures indicate a start well into negative ground shortly ahead of the session's opening. Boeing (BA) announced it has completed a major milestone in the completion of its 787 Dreamliner.
09:00 am : S&P futures vs fair value: -12.1. Nasdaq futures vs fair value: -19.2. Stocks remain on track to open in negative ground. Despite caution surrounding financial and bank stocks, Citigroup has a favorable view of shares in Lehman Brothers (LEH) and Morgan Stanley (MS).
08:30 am : S&P futures vs fair value: -11.4. Nasdaq futures vs fair value: -17.0. Stock futures continue to indicate a sharply lower start to the week's final trading session. MBIA (MBI) had its rating cut to A2 from Aaa at Moody's. Moody's also lowered its rating on Ambac's (ABK) Ambac Assurance to Aa3 from Aaa.
08:00 am : S&P futures vs fair value: -13.0. Nasdaq futures vs fair value: -17.2. Futures currently indicate a markedly lower start to Friday's trading. Concern related to European bank stocks are carrying over to U.S. premarket trading.
06:26 am : S&P futures vs fair value: -5.8. Nasdaq futures vs fair value: -8.8.
06:25 am : FTSE...5707.60...-0.80...-0.0%. DAX...6716.68...-4.49...-0.1%.
06:25 am : Nikkei...13942.08...-188.09...-1.3%. Hang Seng...22745.60...-52.01...-0.2%.
My posting is for my own entertainment, do your own DD before pushing your buy/call button
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