This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Stock Futures Lower on Taper Warning From Fed's Fisher

NEW YORK (TheStreet) -- Stock futures were pointing lower Tuesday as Dallas Federal Reserve President Richard Fisher warned investors to prepare for a wind-back of central bank stimulus.

Futures for the S&P 500 were falling 3.5 points, or 3.99 points below fair value, to 1,764 while futures for the Dow Jones Industrial Average were down 15 points, or 23.10 points below fair value, to 15,708. Nasdaq futures were down 8.3 points, or 11.88 points below fair value, to 3,346.

"We've changed and impacted the markets because of our intervention and I understand there's sensitivity, but markets should also bear in mind that this program cannot go on forever," Fisher told CNBC on Tuesday.

Atlanta Fed President Dennis Lockhart will speak at Auburn University at 1:15 p.m.

Sotheby's (BID - Get Report) shares were slumping 2.04% to $50 after the auction house reported a loss in the third quarter, though the loss did narrow from a year ago as revenues jumped 58% to $107.9 million amid a doubling in Hong Kong sales and a 71% increase in sales at its Impressionist and Modern Art auction in New York.

News Corp (NWSA - Get Report) shares were retreating by 2.41% to $17 after the owner of the Wall Street Journal posted sales that missed analyst forecasts, sparking investor concern about its legacy print business. The company, controlled by Rupert Murdoch, reported $2.07 billion in revenue for the fiscal first quarter, falling short of an average $2.18 billion estimate of eight analysts surveyed by Bloomberg.

In U.S. economic releases, the National Federation of Independent Business' index of small-business sentiment declined to a seven-month low 91.6 in October due to impact from the government shutdown.

In global news, China's Communist Party leaders pledged to allow the market to play a "decisive" role in allocating resources, The Wall Street Journal reported. The four-day meeting of the 18th Central Committee of the Communist Party of China was set to review government policy for the next decade.

Markets closed marginally higher Monday amid deal activity and solid earnings results.

Germany's DAX was falling 0.30% to 9,080.09 while London's FTSE was off 0.26% to 6,711.00. The Hang Seng shed 0.73% to close at 22,901.41 while the Nikkei gained 2.23% to 14,588.68.

Oil futures were off 0.25 to $94.89 while gold futures for December were falling to $1280.1. Ten year U.S. Treasuries were rising 0.037 to $2.78 while the dollar was rising 0.28% to $81.31 according to the U.S. dollar index.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
BID $41.43 0.00%
NWSA $16.15 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

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