This Day On The Street
Continue to site
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

Day Ahead: Futures in Play

U.S. stock futures showed signs of optimism as Wall Street digested housing and inflation data Tuesday morning, following European markets higher as Russia made preliminary moves to annex Crimea.

The U.S. Consumer Price Index (CPI) rose 0.1% in February, as expected, with a 0.1% rise in core prices, which were also in line. Both figures represent no change from January's price inflation. Housing starts fell by 0.2% in February to 907,000 units on an annualized basis, just below views, vs. 909,000 units in the prior month.

Stocks rebounded Monday from last week's selloff, with all three major indices putting in their best showings in two weeks. But European exchanges were lagging early on disappointing consumer-confidence data from Germany before they turned higher as Russian President Vladimir Putin announced that Russia and Crimea had signed an annexation treaty. Asian markets rallied overnight.

Meanwhile, the Federal Open Market Committee begins its two-day policy meeting today, capped off by its interest-rate announcement and presser from newly minted Chairwoman Janet Yellen Wednesday afternoon. Wall Street will be listening for details of the central bank's tapering plans and any comments on the economy.

It's a light day for earnings reports, with one standout being Hertz Global (HTZ), which reported disappointing fourth-quarter earnings before the bell. But the rental-car company's shares were up slightly as it confirmed it will spin off its equipment-rental business. Adobe Systems (ADBE), Oracle (ORCL) and Pacific Sunwear (PSUN) are due to report after the close. Investors will be listening for any lingering effects on results from this winter's severe weather.

In company news, GameStop (GME) shares were zapped in premarket trading on news that the world's largest retailer, Wal-Mart (WMT), plans to offer gift cards in exchange for used videogames, which Wal-Mart will refurbish and sell, potentially cutting into GameStop's customer base.

American Express (AXP) said it is selling half its business-travel division for $900 million, creating a joint venture with a group led by Certares International Bank.

Paul Curcio is an editor for TheStreet. He does not buy or sell individual securities.

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

Markets

Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Our Tweets

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs