Dow May Open Lower as Investors Target 9th Day of Gains

LONDON -- After hitting record closing highs for the last eight days, will the Dow extend its winning streak to nine days? Stock index futures at 7 a.m. EDT indicate that the Dow Jones Industrial Average (DJINDICES: ^DJI  ) may open down by 0.2% this morning, while the S&P 500 (SNPINDEX: ^GSPC  ) may open 0.24% lower.

Retail data will be in focus this morning when February's retail sales figures are released at 8:30 a.m. EDT. Consensus forecasts suggest that sales rose by 0.7% in February after gaining 0.1% in January. Also due at 8:30 a.m. EDT, import prices are expected to have risen by 0.5% in February after rising 0.6% in January, while at 10 a.m. EDT, analysts expect that inventories may have risen by 0.6% in January after gaining 0.1% in December.

The retail industry will also be the main focus of today's corporate earnings announcements. Guess?, Vera Bradley, and Men's Wearhouse are all due to report after the close tonight, while Express is due to report before the opening bell this morning. Aircraft manufacturer Boeing may also be actively traded after the FAA approved the company's plans to fix the battery issues that have been behind the global grounding of its 787 Dreamliner aircraft.

European markets
Markets moved lower in Europe this morning as investors took profits and reacted to the latest eurozone industrial-production figures, which showed that output fell by 0.4% across the single-currency zone in January, missing expectations for a 0.1% fall. Meanwhile, reports indicated that the EU parliament is likely to vote against last month's EU budget deal later today, which could trigger months of further negotiations.

At 7:10 a.m. EDT, the DAX was down 0.25%, the CAC 40 was down 0.47%, the FTSE MIB was down 1.57%, and the IBEX 35 was down 0.79%. In London, the FTSE 100 (FTSEINDICES: ^FTSE  ) was down 0.86% despite a 2.9% gain for Asia-focused life insurance company Prudential, which reported a 25% increase in operating profit in 2012. The index was dragged back by security-outsourcing specialist G4S, which fell 2.7% after it reported the departure of its chief financial officer, despite a 10% rise in revenue last year. Other big fallers included Standard Chartered and British American Tobacco, both of which went ex-dividend today.

If you're looking for shares that can outperform the wider market, you need to look beyond the news headlines. This free Motley Fool report, "The Top Growth Share For 2013," highlights a share that gained 38% in 2012, during which time the wider market rose just 6%. The company is a household name, and its earnings per share have risen by 44% since 2009 -- so click here now to download your free copy of this report while it is still available.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2309602, ~/Articles/ArticleHandler.aspx, 9/24/2016 10:16:41 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:55 PM
^DJI $18261.45 Down -131.01 -0.71%
^FTSE $6909.43 Down -1.97 -0.03%
FTSE 100 CAPS Rating: No stars
^GSPC $2164.69 Down -12.49 -0.57%
S&P 500 INDEX CAPS Rating: No stars