This Day On The Street
Continue to site
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

Stock Futures Fall as Budget Deal Heightens Fed Watch

NEW YORK ( TheStreet) -- Stock futures were lower Wednesday amid concerns the federal budget deal adds weight for the central bank to begin cutting stimulus next week. 

Futures for the Dow Jones Industrial Average were falling 9.00 to 15,969.0 while S&P 500 futures were off 1.50 to 1801.5. Nasdaq futures were 4.20 lower at 3511.8. 
The budget deal -- which still needs approval from the House and Senate -- sets federal agency spending levels at $1.014 trillion for next fiscal year and reduces the chances of a government shutdown. This increases stability and reduces the likelihood that stimulus will be needed to support the economy.
Companies expected to see price action include Costco (COST), MasterCard (MA) and Smith & Wesson (SWHC). After market close Tuesday, MasterCard's board approved a stock split via a stock dividend and authorized a buyback program of up to $3.5 billion of Class A common stock. Smith & Wesson posted second-quarter profit that beat expectations, causing its shares to jump more than 5%. Costco on Wednesday reported a quarterly profit of 96 cents a share, below Wall Street forecasts. Men's Wearhouse (MW) is forecast to post third-quarter earnings of 86 cents a share. 
Wednesday's economic calendar is light with and Energy Information Administration report on petroleum inventories at 10:30 a.m. EST and the Treasury Budget at 2 p.m. 
Germany's DAX was rising 0.23% while the FTSE was up 0.22%. The Nikkei closed down 0.62% while the Hang Seng was off 1.71%. 

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 0.00%
FB $99.54 0.00%
GOOG $678.11 0.00%
TSLA $148.25 0.00%
YHOO $26.82 0.00%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs