Dow May Pause After 10 Record-Breaking Days

LONDON -- Stock index futures at 7 a.m. EDT indicate that the Dow Jones Industrial Average (DJINDICES: ^DJI  ) may open down by a nominal five points this morning. The index has closed higher for the last 10 trading days -- a streak it hasn't matched since 1996. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC  ) may open a single point lower after closing within two points of its all-time closing high yesterday.

After jobless claims came in lower than expected yesterday, will today's data provide another boost to the markets? First up, at 8:30 a.m. EDT, is February's consumer price index, which is expected to be up 0.6% after remaining unchanged in January. Also due at 8:30 a.m. EDT is the Empire State index for March, which is expected to remain unchanged at 10. At 9:15 a.m. EDT, industrial-production data is expected to show that output rose by 0.6% in February after falling by 0.1% in January. Finally, at 9:55 a.m. EDT, the University of Michigan Consumer Sentiment Index for March is expected to edge higher to 78, up from 77.6 in February.

Cruise ship giant Carnival is due to report earnings before the markets open this morning, but investors' attention may also be focused on U.S. banks, which have recently completed a round of stress tests. Bank of America and Morgan Stanley were both higher in premarket trading after the Federal Reserve approved their capital plans. However, JPMorgan Chase and Goldman Sachs were lower after the Fed provided only conditional approval for their plans.

European markets
In Europe, markets were mixed this morning as investors waited for news from the EU leaders' summit after preliminary comments yesterday suggested deficit targets might be relaxed in an effort to increase growth and reduce unemployment in the eurozone.

At 7:20 a.m. EDT, the DAX was down 0.12%, the CAC 40 was down 0.76%, the FTSE MIB was down 0.11%, and the IBEX 35 was down 0.61%. In London, the FTSE 100 (FTSEINDICES: ^FTSE  ) was down 0.45%, dragged lower by the two largest companies in the index, HSBC Holdings and Royal Dutch Shell -- both companies fell by around 1.4%, outweighing gains on broker upgrades for International Consolidated Airlines and ARM Holdings.

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.

DocumentId: 2314805, ~/Articles/ArticleHandler.aspx, 4/20/2014 12:17:56 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...


Advertisement