Ford Motor Company (F) released earnings for the second quarter of its 2014 fiscal year (2QFY14), just before markets opened today. The Michigan-based auto maker posted adjusted earnings per share (EPS) of 40 cents, up from 37 cents in the same quarter last year, beating analysts’ estimates of 36 cents. The company generated quarterly revenues of $37.4 billion, a 4% year-over-year (YoY) rise, but less than analysts’ estimate of $36.3 billion.
For the fourth consecutive night, futures attempted to storm higher, and were halted in their tracks when the USDJPY failed to rebound from the recalibrated 107 tractor beam, following a statement by the BOJ's former chief economist and executive director (until March 2013) who said that now is the time for the Bank of Japan to begin tapering.
Unlike most trading sessions in the past month, when the overnight session saw a convenient algo assisted USDJPY/AUDJPY levitation, tonight there has been no such luck for the permabullish E-Trade babies who are conditioned that no matter what the news, the next morning the S&P 500 will open green regardless.
The stock price of The Home Depot, Inc. (HD) is up 2.3% since yesterday’s close following the announcement of its quarterly results. Today, the company reported its results for the fourth quarter of its fiscal year 2013 (4QFY13), which were in line with our expectations.
Canada’s main stock index futures rose on Tuesday, with help from the Chinese central bank’s 255 billion yuan injection into the market that calmed investor worries about a credit crunch in its economy.
* China’s central bank moved to head off another destabilising cash squeeze with a big injection of cash – flagged in advance in a surprising act of transparency to relieve anxious markets.
Gary Townsend submits:This morning. Equity futures are lower this morning, with attribution - though there was little incremental - to Fed Chairman Bernanke’s 60 Minutes interview last evening. After fair value adjustment, December SPX futures are down -6.24 points at 1217.70, near the worst levels of the morning.