Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Dow Jones May Slip on Euro Fears

LONDON -- Stock index futures at 7 a.m. EDT indicate that the Dow Jones Industrial Average (DJINDICES: ^DJI  ) may open 0.35% lower this morning after closing at a new high last night, while the S&P 500 (SNPINDEX: ^GSPC  ) may open down by 0.37% after closing within two points of its all-time high yesterday. As the S&P 500 approaches record levels, the CNN Fear & Greed Index has also moved higher, closing at 76 yesterday in a return to "extreme greed" territory.

In Europe, protests continue in Cyprus as the country's central bank governor says its banks will open tomorrow with new capital restrictions in place. Italian markets moved lower after yet another set of negotiations failed to produce a coalition to govern the country. Italy has been without an effective government since elections were held at the end of February, and a new round of elections now looks increasingly likely.

In the U.K., the Bank of England said U.K. banks needed to raise a further $38 billion to meet capital shortfalls and cover potential loan losses. The report did not specify which banks were affected, but Lloyds Banking Group and Barclays moved higher after the announcement, which was lower than a previous $90 billion estimate. Revised GDP figures showed that the U.K. economy expanded by just 0.2% in 2012, less than the 0.3% previously reported. Both the British and French economies shrank by 0.3% in the final quarter of 2012.

In the U.S., investors will be looking ahead to February pending-home-sales figures, which are due at 10 a.m. EDT. Consensus forecasts suggest that sales may have fallen by 0.5% in February after rising by 4.5% in January. Also of interest may be the EIA weekly petroleum status report, due at 10:30 a.m. EDT.

Companies due to report before the opening bell today include UniFirst, which is expected to report earnings of $1.13 per share. Companies due to report after markets close today include Paychex, Red Hat, Texas Industries, SYNNEX, HB Fuller, Steelcase, Five Below, and PVH. SAIC stock could also be actively traded this morning after the technical-services provider announced a $1 special dividend in its full-year results, which were published after markets closed last night. SAIC shares moved 4.2% higher in after-hours trading last night.

Finally, let's not forget the Dow's daily movements can add up to serious long-term gains. Indeed, Warren Buffett recently wrote, "The Dow advanced from 66 to 11,497 in the 20th Century, a staggering 17,320% increase that materialized despite four costly wars, a Great Depression and many recessions." If you, like Buffett, are convinced of the long-term power of the Dow, you should read "5 Stocks To Retire On." Your long-term wealth could be transformed, even in this uncertain economy. Simply click here now to download this free, no-obligation report.

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: 2333802, ~/Articles/ArticleHandler.aspx, 9/28/2016 6:16:38 AM

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 9 hours ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

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

9/27/2016 4:45 PM
^DJI $18228.30 Up +133.47 +0.74%
^GSPC $2159.93 Up +13.83 +0.64%
S&P 500 INDEX CAPS Rating: No stars