US midday: Stocks fall ahead of a key vote in Athens this Sunday
Feb 10, 2012
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-Bernanke says critical to get US fiscal policy in order.
-Bernanke says tight credit remains a problem for the economy.
Dow Jones: -0.98%
Nasdaq Comp.: -0.79%
S&P 500: -0.85%
The main US equity benchmarks are still falling by almost 1% on average. That on the back of the negative news-flow coming out of Greece.
The most negative (in so far as they may belie recent market optimism) piece of news seems to be the remarks being attributed to the German Finance Minister to the effect that, based on Greece´s current proposals, the country will not meet the debt sustainability targets which multilateral institutions, such as the International Monetary Fund, are aiming for.
No help either are reports in Bloomberg that George Karatzaferis, the leader of one of the three parties (LAOS) supporting interim Prime Minister Lucas Papademos said he wouldn't support austerity measures worked out for a rescue. Nonetheless, it must be stressed that LAOS is a minority party inside the Athenian parliament.
Meantime, and in corporate news, game maker Activision Blizzard has turned around and is now falling after having issued a lower than expected earnings per share forecast for this quarter.
Coal miner Arch Coal is also moving lower after announcing that it will reduce its 2012 production by 5 million tons.
First Solar is leading losses on the S&P 500 after a downgrade from broker Collins Stewart.
LabCorp. and Carefusion have both approved $500m share buy-back programs.
MACROECONOMY
The trade deficit rose by 3.7% in December, reaching $48.8bn (Consensus: $48.2bn), following a negative reading of $47.1bn the month before.
The University of Michigan consumer confidence survey for the month of February has come in at 72.5 (Consensus: 74.3), following a reading of 75.0 for the month before.
The US federal budget deficit improved slightly in January, to -$27.4bn (Consensus: -$31.6bn).
OTHER MARKETS
Front month West Texas crude futures are now falling by 0.93% to the $117.48/barrel mark in NYMEX trading.
10 year US Treasuries are now moving up by 21/32 dollars, with yields at 1.96%.
S&P 500 - Risers
NYSE Euronext Inc. (NYX) $28.64 +3.43%
PPL Corp. (PPL) $28.47 +2.72%
Noble Corp (NE) $38.56 +2.61%
CME Group Inc. (CME) $290.38 +2.47%
C.R. Bard Inc. (BCR) $94.56 +2.44%
Coventry Health Care Inc. (CVH) $31.26 +2.39%
Salesforce.Com Inc. (CRM) $128.16 +2.03%
Tenet Hlthcre Corp. (THC) $5.69 +1.97%
CareFusion Corp. (CFN) $25.27 +1.85%
FMC Technologies Inc. (FTI) $54.13 +1.84%
S&P 500 - Fallers
First Solar Inc. (FSLR) $44.26 -9.72%
XL Group Plc (XL) $19.33 -8.00%
MEMC Electronic Materials (WFR) $5.36 -7.27%
Alpha Natural Res (ANR) $20.96 -6.43%
Pitney Bowes Inc. (PBI) $18.58 -4.91%
AK Steel Holding Corp. (AKS) $8.19 -4.90%
GameStop Corp. (GME) $22.92 -4.82%
United States Steel Corp. (X) $29.52 -4.79%
NetApp Inc. (NTAP) $39.21 -4.62%
Allegheny Technologies Inc. (ATI) $45.61 -4.34%
Dow Jones I.A - Risers
Dow Jones I.A - Fallers
Alcoa Inc. (AA) $10.26 -3.62%
E.I. du Pont de Nemours and Co. (DD) $50.96 -2.11%
Hewlett-Packard Co. (HPQ) $28.63 -1.65%
Exxon Mobil Corp. (XOM) $83.50 -1.63%
General Electric Co. (GE) $18.82 -1.61%
Boeing Co. (BA) $74.74 -1.53%
Chevron Corp. (CVX) $104.77 -1.50%
Travelers Company Inc. (TRV) $59.00 -1.49%
Bank of America Corp. (BAC) $8.06 -1.42%
Caterpillar Inc. (CAT) $111.29 -1.36%
Nasdaq 100 - Risers
Yahoo! Inc. (YHOO) $16.20 +1.25%
Baidu Inc. (BIDU) $136.57 +0.83%
Illumina Inc. (ILMN) $53.59 +0.79%
Priceline.Com Inc. (PCLN) $544.05 +0.73%
Amgen Inc. (AMGN) $67.14 +0.45%
Amazon.Com Inc. (AMZN) $185.76 +0.42%
Apple Inc. (AAPL) $494.15 +0.20%
DIRECTV (DTV) $45.65 +0.20%
Warner Chilcott Plc (WCRX) $16.40 +0.12%
Dentsply International Inc. (XRAY) $37.71 +0.07%
Nasdaq 100 - Fallers
First Solar Inc. (FSLR) $44.26 -9.72%
NetApp Inc. (NTAP) $39.21 -4.62%
Electronic Arts Inc. (EA) $17.33 -2.99%
FLIR Systems Inc. (FLIR) $24.97 -2.99%
KLA-Tencor Corp. (KLAC) $49.30 -2.90%
Qiagen N.V. (QGEN) $15.14 -2.82%
Altera Corp. (ALTR) $39.96 -2.73%
Linear Technology Corp. (LLTC) $33.43 -2.65%
Research in Motion Ltd. (RIMM) $15.48 -2.61%
Nvidia Corp. (NVDA) $15.88 -2.61%
AB
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