This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Futures Mixed as Oil Takes Breather

Stocks in this article: ^GSPC ^IXIC ^DJI

NEW YORK ( TheStreet) -- Stock futures were trading along the flat line as oil prices take a breather but investors fear that further violence in oil producing countries could cause more supply disruptions.

Futures for the Dow Jones Industrial Average were down by 9 points, or 8 points below fair value, at 12,069. Futures for the S&P 500 were higher by two-tenths of a point, or marginally below fair value, at 1309, and Nasdaq futures were lower by 5 points, or 9 points below fair value.

The Nasdaq dropped 1.4% yesterday after Wells Fargo cut its rating on chipmaker stocks, saying sales growth will likely slow. The Dow and S&P 500 also fell amid fears that rising oil prices could hurt the economic recovery.

Oil prices paused Tuesday amid reports that the oil cartel OPEC is considering a potential increase to oil output . Oil prices have soared to levels not seen in two and a half years as violent clashes in Libya caused oil supply disruptions and investors worried that political uprising across the Middle East could affect supply from some of the major oil producers. The April crude contract was trading 29 cents lower at $105.15.

The April gold contract was higher by $1.80 to trade at $1,436.30 an ounce.

Hong Kong's Hang Seng gained 1.7% and Japan's Nikkei added 0.2%. London's FTSE was down by 0.1% and the DAX in Frankfurt was also trading 0.1% lower.

Shares of Urban Outfitters (URBN) were losing 10.8% at $33.89 ahead of Tuesday's opening bell after the retailer missed analysts' fourth-quarter estimates late Monday.

Networking software company Broadsoft (BSFT) reported strong fourth-quarter results and issued better-than-expected first-quarter guidance late Monday. The stock was up 18.3% at $41.28 in premarket trading.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs