One day before Thanksgiving, the only thing investors are thankful for is that markets are closed tomorrow. In preopen activity, futures were terrible, trading much lower on thin volume, while both Asian and European markets sat deep in the red.
, an electronic exchange specializing in currency and index futures, were lately trading down 15.2 to 1340.50, with a fair-value loss of 10.75.
futures on Globex were lately trading down 74.5 to 1733, with a fair-value loss of about 66. Looks like markets are set for a negative open, and a decisive one at that. Futures have falling all morning long.
Keep a close eye on
today. Tuesday, the company looked like it was sidling up to
, whispering sweet nothings in an attempt to acquire the company's food business, which includes the best-selling Gatorade brand. Unfortunately for Coke, the news didn't go over so well in the wider market and last night, the company announced that it was no longer interested in purchasing Quaker's food business. But France's
, the yogurt people, are interested. So, be on the lookout for moves in Coke, Quaker and Danone today.
, where people (even you) can trade stocks even when New York's markets are closed, volume was very light ahead of the day session. But on this thin volume, which decreases the ability for an issue to trade while ratcheting up the likelihood for volatile moves, Coca-Cola last traded at $58, a gain of $2.75 from its Tuesday closing price. Quaker last traded at $88, down $6.44 from its Tuesday closing price.
Again, it's worth noting that those moves occurred on thin volume and might be an exaggeration. In any event, it looks like Coke will be up at the open, while the Quaker people won't be.
Let's look at Europe. Well, maybe not.
In midday trading, London's
dropped 114 to 6268, while the Paris
fell 116 to 5965. Germany's
fell 183 to 6495.
In Asia, markets took a nosedive. Japan's
fell 107.15 to 14,301.31, while Hong Kong's
did its best impersonation of
. It fell 415.79 to 14,772.51.