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Wednesday, 22 April 2009 12:32:46 GMT
Written by John Rivera, Analyst
Full Article
Wells Fargo and Morgan Stanley reported conflicting results which will generate intense focus after U.S. Treasury Secretary Timothy Geithner’s comments yesterday.
What To Watch For In The US Session
• Earnings Remain In Focus As Banks Report
• U.S. Treasury Secretary Timothy Geithner Speaks Again
• House Price Index On Tap
Morgan Stanley’s Dismal Earnings Could Weigh On Markets Today
Wells Fargo and Morgan Stanley reported conflicting results which will generate intense focus after U.S. Treasury Secretary Timothy Geithner’s comments yesterday. Markets rallied when the Treasury Secretary proclaimed that banks had enough reserves to survive the current crisis and that any additional funding needs could be met by existing TARP funds and private investment. Therefore, it depends on whether markets focus on Morgan Stanley’s worse than expected earnings of -$0.57 or Wells Fargo’s beating estimates with earnings of $0.56 on the direction of financials today. Geithner is also scheduled to speak again in Washington today, and markets will look to see if he reinforces his statements from yesterday or shrink from them as he has done on past occasions. The house price index is the only scheduled release due out today and is expected to show prices resumed their descent. However, a 5.2% increase in MBA mortgage applications will add to recent signs that the housing sector is beginning to stabilize.
Dow Jones 7969.56
The DJIA futures are trading lower and could see volatility today with several components reporting mixed results including McDonalds and AT&T beating estimates and Boeing missing by five cents.
NASDAQ 1643.85
The Nasdaq is also seeing its futures lower despite Yahoo’s better than expected earnings. The tech laden index will be focused on Apple’s earnings after the bell which could keep traders on the sidelines.
S&P 500 850.08
The S&P 500 could be subject to the markets sentiment on the banking system as it accounts for nearly 13% of the broader index.
CFDTrading provides news on the economic reports and political events that influence the CFD traders.
Written by John Rivera, Analyst
Full Article
Wells Fargo and Morgan Stanley reported conflicting results which will generate intense focus after U.S. Treasury Secretary Timothy Geithner’s comments yesterday.
What To Watch For In The US Session
• Earnings Remain In Focus As Banks Report
• U.S. Treasury Secretary Timothy Geithner Speaks Again
• House Price Index On Tap
Morgan Stanley’s Dismal Earnings Could Weigh On Markets Today
Wells Fargo and Morgan Stanley reported conflicting results which will generate intense focus after U.S. Treasury Secretary Timothy Geithner’s comments yesterday. Markets rallied when the Treasury Secretary proclaimed that banks had enough reserves to survive the current crisis and that any additional funding needs could be met by existing TARP funds and private investment. Therefore, it depends on whether markets focus on Morgan Stanley’s worse than expected earnings of -$0.57 or Wells Fargo’s beating estimates with earnings of $0.56 on the direction of financials today. Geithner is also scheduled to speak again in Washington today, and markets will look to see if he reinforces his statements from yesterday or shrink from them as he has done on past occasions. The house price index is the only scheduled release due out today and is expected to show prices resumed their descent. However, a 5.2% increase in MBA mortgage applications will add to recent signs that the housing sector is beginning to stabilize.
Dow Jones 7969.56
The DJIA futures are trading lower and could see volatility today with several components reporting mixed results including McDonalds and AT&T beating estimates and Boeing missing by five cents.
NASDAQ 1643.85
The Nasdaq is also seeing its futures lower despite Yahoo’s better than expected earnings. The tech laden index will be focused on Apple’s earnings after the bell which could keep traders on the sidelines.
S&P 500 850.08
The S&P 500 could be subject to the markets sentiment on the banking system as it accounts for nearly 13% of the broader index.
CFDTrading provides news on the economic reports and political events that influence the CFD traders.
