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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Market Hustle: Futures Slipping Ahead of Fed Stimulus Decision

Stocks in this article: ^DJI ^GSPC ^IXIC YHOO FB EA T

NEW YORK ( TheStreet) -- Stock futures were slipping ahead of a Federal Reserve stimulus decision Wednesday despite a hike in lending rates from Turkey and better consumer confidence from Germany. 
Futures for the S&P 500 were rising 1.20 over fair value to 1,787.75 while futures for the Dow Jones Industrial Average were up 12.44 over fair value to 15,876.0. Futures for the Nasdaq were rising 7.03 over fair value to 3,505.

All eyes will be on the Federal Reserve's policy meeting announcement this afternoon at 2 p.m. EST where economists are split over whether the central bank will stick to its intention to reduce bond purchases by $10 billion a month based, or hold back on a reduction given a sluggish December jobs report and jitters in emerging markets. 

Companies expected to see price action Wednesday include  Yahoo!  (YHOO)Facebook  (FB) and  Electronic Arts  (EA)

After Tuesday's close, Electronic Arts said it expects profit of 9 cents a share for the current quarter on sales of $800 million, against the 10 cents a share profit and $827 million in revenue forecast by analysts. As a result, EA shares fell more then 3% in after-hours trading.

Also after the closing bell Tuesday, Yahoo! said quarterly profit rose to $351.67 million or 33 cents a share. Its shares lost more than 4% in after-hours trading as ad revenue dropped by a greater-than-expected 6% on the prior year. Telecommunications company  AT&T  (T) posted a fourth-quarter profit of $6.9 billion or $1.31 a share, beating expectations for earnings of 51 cents a share. Facebook is expected Wednesday to report quarterly earnings of 27 cents a share.

Markets closed higher Tuesday on relative calm in emerging markets and better corporate earnings, snapping a three-day losing streak.

In global economic news, consumer sentiment in Germany hit a six-year high, with many hoping stronger domestic demand in Europe's largest economy will help eurozone growth this year. The consumer sentiment indicator rose to 8.2 points in February from 7.7 in January -- its highest level since August 2007.

Turkey's central bank raised the overnight lending rate to 12% from 7.75%, causing the Turkish lira the rally sharply against the greenback. The move came after increase in India's interest rates on Tuesday.

European stocks were edging higher while the Hang Seng closed 0.82% higher and the Nikkei finished up 2.70%. 
-- By Jane Searle in New York 

Select the service that is right for you!

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!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • 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