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: Stock Futures Point Lower; Apple, Ralph Lauren Slip

NEW YORK (TheStreet) -- Stocks futures were pointing lower Friday as investors awaited labor market survey results and as Apple (AAPL - Get Report), Ralph Lauren (RL - Get Report), CBS (CBS), and Omnicom (OMC) shares took a dive.

  • Dow Jones Industrial Average futures were down 34 points, or 22.97 points below fair value, to 16,476 while the S&P 500 futures were down 4.5 points, or 3.28 points below fair value, to 1,867.75. Nasdaq futures were down 13.7 points, or 11.62 points below fair value, to 3,523.8.
  • The economic calendar on Friday includes wholesale inventories for March at 10 a.m. EDT. The Labor Department's Job Openings and Labor Turnover Survey for March is scheduled for 10 a.m. as well and is expected to be closely watched by Federal Reserve Chair Janet Yellen for labor market trends.
  • Fed speakers expected to make public appearances Friday included FOMC voting members Narayana Kocherlakota, the Minneapolis Federal Reserve Bank president, and Richard Fisher, the Dallas Fed Bank president.
  • On the corporate front, Apple was garnering attention. Shares were edging 0.68% lower as The Financial Times reported the company could make its largest acquisition with the planned $3.2 billion purchase of Beats Electronics, the headphone maker and music streaming operator founded by music producer Jimmy Iovine and hip-hop star Dr Dre.
  • Omnicom fell 2.3% as the company and France's Publicis scrapped merger plans that would have created the world's largest advertising firm.
  • Ralph Lauren was plunging 6.57% after saying it expects its fiscal 2015 operating margin to be 75 to 125 basis points a year earlier due to continued investment in the company's global retail development and infrastructure, and increased advertising and marketing expense.
  • CBS was dipping 2.6% after first-quarter revenue missed expectations following a 12% decline in advertising sales.
  • Tesla (TSLA) shares rose 1% in premarket trading to $180.42, despite reports that Missouri's state legislature could try to stop the electric carmaker from selling cars directly to customers.
  • European markets were weaker Friday after prior session gains that took place after European Central Bank President Mario Draghi suggested the central bank could announce new easing measures soon. Tepid corporate results were weighing on European stocks Friday. The FTSE 100 in was slipping 0.38% and the DAX was down 0.3%.
  • The Nikkei 225 in Japan finished up 0.25% while the Hong Kong Hang Seng closed up 0.12% as China consumer inflation slowed more than expected.
  • The global markets will continue to keep a close eye on Ukraine heading into the weekend as Pro-Russian separatists vow to move forward with a referendum on Sunday to form their own republic even as Russia urges that the vote be postponed and fears of Victory Day violence spiked.
  • Markets closed mixed Thursday as Yellen reiterated her positive economic outlook and as tech stocks tumbled again.

-- By Andrea Tse in New York

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
AAPL $93.74 0.00%
RL $93.21 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs