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

Market Hustle: Futures Slip on Weak Jobs Report Ahead of Bank Earnings

NEW YORK (The Street) -- Major U.S. stock futures were pointing to a lackluster start Monday amid investor caution ahead of fourth-quarter bank earnings and uncertainties surrounding the pace of Federal Reserve tapering.

  • S&P 500 futures were falling 4.25 points, or 2.72 points below fair value, to 1,833.5, Dow Jones Industrial Average futures were slipping 17 points, or 4.05 points below fair value, to 16,364, and Nasdaq futures were dipping 7 points, or 3.68 points below fair value, to 3,554.5.

  • Markets closed mixed on Friday after a worse-than-expected December jobs report underlined the rocky nature of the economic recovery. The addition of 74,000 jobs missed expectations by a wide margin and was the worst monthly government job report in three years.

  • The December Treasury budget statement is to be released at 2 p.m. EST.

    Must Read: Markets Hustle: Stocks Close Mixed Amid Wobbly Jobs Report

  • Atlanta Fed Bank President Dennis Lockhart is scheduled to speak on the economic outlook in Atlanta at 12:40 p.m.

  • December retail sales data will be out on Tuesday and December inflation reports are due on Tuesday and Wednesday.

  • Fourth-quarter earnings reports in focus this week include banks such as JPMorgan Chase (JPM) and Wells Fargo (WFC) on Tuesday, Bank of America (BAC) on Wednesday, Goldman Sachs (GS) and Citigroup (C) on Thursday, and Morgan Stanley (MS) on Friday.

  • Lululemon Athletica (LULU - Get Report) was plunging 12.75% to $52 after slashing its current-quarter sales and earnings outlook.

  • Wendy's (WEN - Get Report) was surging 8.18% to $9.13 after reporting upbeat 2014 guidance and preliminary fourth-quarter earnings driven by same-store sales growth. The company also unveiled a $275 million share buyback program.

  • Beam (BEAM) was soaring 26.18% to $84.50 after Suntory Holdings said it will buy Beam for $13.6 billion in cash.

  • The benchmark Shanghai Composite index shed 0.19% to a five-month low of 2,009.56 after plans by China's securities regulator to tighten its supervision of initial public offerings did little to ease liquidity concerns.

-- Written by Andrea Tse in New York.

Follow @atwtse

>Contact by Email.

Copyright 2014 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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
BEAM $83.47 0.02%
LULU $65.25 -0.49%
WEN $11.02 -0.27%
AAPL $93.72 -1.20%
FB $117.01 0.24%


Chart of I:DJI
DOW 17,711.66 -119.10 -0.67%
S&P 500 2,070.15 -5.66 -0.27%
NASDAQ 4,794.9830 -10.3080 -0.21%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs