Stocks Cautiously Lower Ahead of Data

by devteam May 14th, 2010 | Share

Equity futures are sharply lower this morning ahead of several key data points for the U.S.

“The whiff of uncertainty is still in the air on this Friday morning, ahead of a handful of U.S. economic data,” said economists at BMO. “Indeed, with the slew of data from Europe and China now out of the way this week, the focus returns squarely on North America and, in particular, the U.S.”

Ninety minutes before the opening bell, Dow futures are off 64 points to 10,709 and S&P 500 futures are down 11.50 points to 1,145.25. The 2 year Treasury note is 2.5 basis points lower at 0.81% and the benchmark 10 year Treasury note is 3.6 basis points lower at 3.502%. The Fannie Mae 4.5 MBS coupon is +0-04 at 101-11.

Meantime, the euro fell to as low as $1.2433USD overnight, its worst level since November, while gold climbed to an historic new high at $1,249. Also, WTI crude oil is down $1.50 to $72.90 per barrel.

Last night, former Federal Reserve Chairman Paul Volcker said in London that he is concerned the Greek fiscal crisis could cause some euro zone nations to pull out of Europe’s Economic and Monetary Union, as the benefits promised from the currency union have not materialized.

Key Events Today:

8:30 â€

About the Author


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

See all blogs


Leave a Comment

Leave a Reply

Latest Articles

Real Estate Investors Skip Paying Loans While Raising Billions

By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...

Late-Stage Delinquencies are Surging

Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...

Published by the Federal Reserve Bank of San Francisco

It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...