Wednesday’s Market Focus
Wall Street is on track to open lower Wednesday ahead of a key retail inflation report, with earnings from Electronic Arts Inc. and Whole Foods Market Inc. supplying an early focus.
According to spread bettors IG Index, the Dow Jones industrial average is expected to open down about 2 points at 12,830. S&P 500 futures were down 1.80 at 1,402.90, while Nasdaq 100 futures fell 3.50 to 2,002.50.
Wall Street turned in a mixed performance Tuesday after a fresh report on retail sales and a new oil price record. The Dow Jones industrial average fell 44.13, or 0.34%, to close at 12,832.18, the Nasdaq composite index rose 6.63, or 0.27%, to 2,495.12, and the Standard & Poor’s 500 index dropped 0.54, or 0.04%, to 1,403.04. The yield on the benchmark 10-year Treasury note rose to 3.91% from 3.80% late Monday, and oil prices settled up $1.57 at $125.80 a barrel on the New York Mercantile Exchange.
ECONOMIC DATA:
- Consumer price index for April, 8:30 a.m. ET, 0.3% estimate
EARNINGS HIGHLIGHTS:
Company Symbol Period Estimate
Agilent Technologies A 2Q $ .48 Deere & Co. DE 2Q 1.75 Freddie Mac FRE 1Q (.92) Jack in the Box JBX 2Q .43 Macy's Inc. M 1Q (.02) Stanley Inc. SXE 4Q .31
Figures in parentheses denote losses.
AFTER-HOURS ACTION:
After Tuesday’s close of trading, Applied Materials Inc. said its fiscal second-quarter earnings fell 27%, but the results still matched Wall Street’s expectations. Electronic Arts reported fourth-quarter adjusted earnings of $30 million, or 9 cents a share, beating the mean break-even estimate of analysts polled by Thomson Reuters. Whole Foods Market Inc. said fiscal second-quarter net income fell 13%, as the company integrated its Wild Oats acquisition.
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