Empty Econ Calendar. Stocks Set to Slide at Open

by devteam November 20th, 2009 | Share

In line with weak global markets, US equities are looking to open lower this morning. Two hours before the bell sounds S&P 500 futures are down 8.2 points at 1,086 and the Dow is off 68 points to 10,259.

Following the trend, commodity prices are also weaker. WTI Crude oil is trading 52 cents lower at $77.53 per barrel and Spot Gold is down $4.95 to $1139.65.

“Risk is still off this morning, with equity markets weighed down by a disappointing earnings report from Dell,” noted Robert Kavcic from BMO Capital Markets. 

The computer maker yesterday reported net income of $337 million in the third quarter, or 17 cents per share, well below Q308 income of $727 million, or 37 cents per share.

Key Events?

Some days are slow and this is one of them. No economic data from the US is scheduled for release today and the Treasury won’t be auctioning off bonds either.

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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