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.
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.
For the first time in three years, US Quarterly Earnings are Poised to Drop.
Third-quarter earnings of Standard & Poor's 500 companies are now expected to fall 0.1 percent from a year ago, a sharp revision from the July 1 forecast of 3.1 percent growth, Thomson Reuters data showed on Thursday.
That would be the first decline in earnings since the third quarter of 2009, the data showed.
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.