Stock Futures Flat As EU Turmoil Ramps Up. Stocks to Watch: NOK, FUN, VOD, ARNA, DNDN, ZNGA, SIRI

Wall Street signAnother day, still the same Euro crisis. Markets across Europe are getting slammed this morning as both Italy and Spain deal with spiking bond yields. The Greek election looms large this weekend, though their stock market did spike today on rumors the bailout would not be scrapped. Market watchers miss the point there. They all want the money. They just don’t want the conditions.

A quick look at the major indices pre market has the Dow futures down 3, the Nasdaq down nearly 2 and the S&P essentially flat. Sign Up For Free Stock Alerts

Domestically the jobs picture is becoming bleaker. Jobless claims jumped 6k to 386k after an upward revision of last week’s numbers. Still under the 400k level most economists see as a growing labor market, but from a perception standpoint it is getting decidedly weaker. [Read more...]

Stock Futures Red on Data. Stocks to Watch: JNJ, ARNA, TFM, AONE, FSLR, VOD

Traders at the NYSEEurope on the mind. That is the common refrain from just about every investor. With Greek elections fast approaching, the Spanish bailout ongoing and Italy looking like it is next in line, investors are becoming increasingly cautious. A quick look at the the markets has the Dow futures down 31, the Nasdaq 7 and the S&P 5.

On the economic data front, retail sales fell for the second month in a row, due in large part to falling gas prices. The internals were a mixed a bag with increases in some areas and decreases in others. It did beat consensus expectations of a .3% drop, coming in at .2%. Sign Up For Free Stock Alerts

Wholesale prices also saw a steep decline of 1%, thanks to the falling oil prices. This was in line with expectations and energy saw a 4.3% decline.

Commodities are following the overall market lower. Oil prices are down slightly with Nymex crude futures down 42 cents to $82.90. Gold is also tracking slightly lower, down $2.40 to $1611 per ounce. [Read more...]

Stock Futures Up On Temporary Spanish Reprieve. Stocks to Watch: VOD, MU, BIDU, ARNA, CHK, AA, GRPN

Wall Street signStock futures are higher this morning, though well off their overnight highs, after the Spanish bank bailout was announced. While it has bought Spain some time and space, the systemic issues remain and s a result bond yields are exploding both in Spain and Italy. This will likely only cause a re-bailout of a just bailed out country.

A quick snapshot of the futures market has Dow futures up 61, the Nasdaq 12 and the S&P up just under 6 points.

Domestically, expect the market to be driven by events out of Europe. The economic data calendar is clear, so the knee jerk reaction to headlines out of Europe will be in full effect on the street today. Sign Up For Free Stock Alerts [Read more...]

Stock Futures Absorb Japanese Downgrade, Temper Rally. Stocks to Watch: VOD, SIRI, DRYS, ZNGA, ARNA, BBY, NOK

Stock FuturesAn overnight downgrade of Japanese sovereign bond rating by Fitch is tempering futures action domestically. The broad based rally yesterday was a welcome respite after 12 losing sessions out of 13. The lack of any bad news out of Europe is also helping bolster markets both overseas and domestically. Dow futures are currently up 27 points, Nasdaq futures 10 and the S&P nearly 4 points.

The hope among market watchers is that EU leaders will move swiftly to shore up confidence in the European markets. Probably a misguided hope – when do politicians ever do anything swiftly except raise money? Regardless it is giving markets the opportunity to take a breather after getting pummeled in recent weeks.

Domestically, the big economic data point will be existing home sales at 10am EST. Analysts are expecting a rise from 4.48 million in March to 4.6 million. Obviously a miss here would weigh on the market as a whole due to the housing market’s lack of overall recovery.

Commodities are mostly negative with both gold and oil turning south. Oil prices are down slightly with Nymex crude futures down 24 cents to $92.33. Gold futures are also giving up ground, with prices down $8.30 to $1580.50 per ounce.

In forex, the dollar continues to trade higher against the Euro with the DXY at 81.25. The Euro is slipping this morning, down to 1.2759. [Read more...]

Stocks Edge Lower on Europe Woes. Stocks to Watch: VOD, ROSG, MM, DNDN, ALU, NOK, DANG

Stock FuturesEven Wal Mart’s strong quarter is struggling to prop up the market thanks to news out of the EU. The continual soap opera from Europe now has possible bank runs spreading to Spain after already hitting Greece. Moody’s has already threatened to downgrade a host of Spanish banks in the coming days. This will only add to the pressure the EU is facing. Dow futures are currently down 10 points. Nasdaq and S&P futures are both slightly negative, down 5 and 2 points respectively.

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Jobless claims remained unchanged from last week. After being revised higher from 367k, this week’s print is at 370k. The four week average fell to 375k. Analysts had been expecting a drop to 365k.

In Europe, markets are down across the board as contagion fears ramp up. Many analysts say that the EU has to move decisively to shore up confidence in both Spain and Italy. Greece still remains without a functioning national government as it hurtles towards another election sometime in June. The anti-bailout leftist parties are picking up steam in the polls, so the crisis could become even more heated in the coming weeks.

Commodities remained mixed with oil futures drifting lower, while gold prices rebounded higher. [Read more...]

Active Stocks In Pre Market Trading: MBLX, SODA, GNOM, VOD, ACHN, LIVE

Metabolix, Inc. (NASDAQ:MBLX) is down 53.26% in pre market trading at $2.80. MBLX is down on heavy volume with 483 thousand shares already traded, twice its daily average volume. MBLX stock is tanking after Archer Daniels ends bioplastics joint venture with the company. The company has a market cap of 204.34 million.

SodaStream International Ltd. (NASDAQ:SODA) is up 3.49% today at $38.60. Oppenheimer said SodaStream is poised for continued strong growth and maintained his $55 target and outperform rating after meeting with the company’s management. SODA trades 1.4 million shares a day on average and has a market cap of 746.22 million.

Complete Genomics, Inc (NASDAQ:GNOM) is down 5.59% in pre market trading at $2.70. GNOM trades 420 thousand shares a day on average. GNOM shares have been falling since they were downgraded by Oppenhiemer. The company has a market cap of 94.90 million.

Vodafone Group (NASDAQ:VOD) is down 3.49% today at $26.84. VOD has traded nearly a million shares already this morning and trades 7.8 million shares a day on average. VOD shares are down in pre market despite the stock being upgraded to buy from neutral at Nomura. The company has a market cap of 142.20 billion.

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) is down 3.66% at $11.76 this morning. ACHN trades just over 900 thousand shares a day on average. ACHN has been rallying all this week and is up more than $4 a share. The company has a market cap of 820.18 million.

LiveDeal, Inc. (NASDAQ:LIVE) is up 2.07% at $3.45 in pre market trading. LIVE trades around 100 thousand shares a day on average. Late yesterday, LIVE shares jumped as news that Isacc Capital Group will designate one board member was released. The company has a market cap of 2.34 million.

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