Markets to Open Flat Ahead of Electionhttp://www.fool.com/investing/international/2012/11/05/markets-to-open-flat-ahead-of-election.aspx Roland Head
November 5, 2012
LONDON -- Stock markets are expected to open broadly flat this morning, ahead of tomorrow's presidential election. At 7:40 a.m. EST, stock index futures indicated the Dow Jones Industrial Average (INDEX: ^DJI ) would open at breakeven, while the S&P 500 (INDEX: ^GSPC ) is expected to slide 0.1%.
Today's economic calendar is quiet but includes the ISM nonmanufacturing PMI for October, which is expected to show a slight fall from 55.1 in September to 54.5. A number greater than 50 indicates growth.
Earnings season continues, and Time Warner Cable has reported third-quarter earnings per share excluding one-time items of $1.41, missing analysts' consensus estimate of $1.43. The shortfall in earnings owed to Time Warner Cable losing more video subscribers than expected over the last quarter. Health insurer Humana also reported early this morning, unveiling third-quarter earnings of $2.62 per share, down from $2.67 during the same period in 2011. Revenue rose to $9.65 billion from $9.3 billion, and the company raised its 2012 outlook to give full-year earnings guidance between $7.25 and $7.35 per share.
Other companies due to report today include Tesla, Zillow, and oil rig maker Transocean. Shares in Warren Buffett's Berkshire Hathaway could also rise this morning: It revealed third-quarter earnings more than 70% higher than the same period last year after markets closed on Friday.