Market Updates
Rate Optimism Boosts U.S. Stock Futures
Elena
21 Aug, 2007
New York City
-
U.S. stock futures advanced on Tuesday, boosted by optimism that the Federal Reserve will make further steps by cutting its main base rate in order to relieve continuous global credit worries. Banc of America Securities downgraded a number of home builders, including Toll Brothers, Hovnanian Enterprises and Standard Pacific, saying cancellations jumped as lenders pulled commitments from buyers already in the backlog and new buyers failed to qualify.
[R]09:00AM U.S. stock futures advanced , lifted by hopes the Fed Reserve will cut interest rates.[/R]
U.S. stock futures advanced on Tuesday, boosted by optimism that the Federal Reserve will make further steps by cutting its main base rate in order to relieve continuous global credit worries.
Banc of America Securities ((BAC)) downgraded a number of home builders, including Toll Brothers ((TOL)), Hovnanian Enterprises ((HOV)) and Standard Pacific ((SPF)), saying cancellations jumped as lenders pulled commitments from buyers already in the backlog and new buyers failed to qualify.
At the same time, Capital One Financial ((COF)) announced a decision to close its wholesale mortgage business and reduce 1,900 jobs as the credit card giant loses confidence in the profitability of originating home loans. The stock gained 1.2% in pre-market trading.
On the earnings news front, Target Corp. ((TGT)) said its Q2 net income rose 13% to $686 million, or 80 cents a share, up from $609 million, or 70 cents a share a year ago, meeting estimates. Company’s revenue increased 9.5% to $14.62 billion, slightly below expectations of revenue of $14.67 billion. The company's same-store sales rose 4.9%.
Among other retailers posting financial results, American Eagle Outfitters ((AEO))reported a 13% profit rise and Staples ((SPLS)) posted 11% earnings rise.
After early losses, S&P 500 futures rose 3.8 points at 1,452.90 and Nasdaq 100 futures climbed 2.5 points at 1,900.25. Dow industrial futures rose 26 points
Annual Returns
Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
---|
Earnings
Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
---|