U.S. Morning Call: Wall St. eyes lower open, earnings
Sunday, July 08, 2012 - 02:25
July 9 - U.S. stock futures are pointing to a lower open as S&P 500 companies gear up to report second-quarter earnings.
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This is your morning call for Monday welcome to the start of the new earnings season but don't get excited. It's according you might wish had never happened as usual Alcoa is the first Dow component to kick off reporting after the close. Analysts have been revising down their estimates for the company has aluminum prices near two year lows. But that's just the tip of the iceberg a significant chunk of firms in the S&P 500 have already lowered their outlooks because of the debt crisis in Europe. And -- strengthening dollar. Any growth in earnings will be thanks to two companies. Apple and Bank of America. Wall Street is set for a lower open partly on all those dismal stats. At the moment futures are firmly in the -- this as stocks dropped about 1% on Friday after the -- jobs report. Traders are also contending with more signs of -- slowdown in China as inflation cools. Meantime top officials from the Federal Reserve are calling on the Central Bank to inject more cash and the economy Chicago fed president Charles Evans says it -- five warm mortgage backed securities. And keep rates near zero until unemployment falls below 7%. His counterpart from Boston -- -- grant is backing -- saying GDP for this year could come in lower than expected. Neither is a voting member of the -- this year but both will be in 2013. In company news dons boss Jim McNerney has told Britain's independent his company looks like it will -- European rival Airbus. In a separate story in the Wall Street Journal the company looks set to start the apartment air show with orders from at least two leasing companies. Boeing shares were trading down in premarket. And patsy is getting into dairy in the US the soft drinks giant will start selling yogurt this month. Joint joint venture with Germany's -- -- group it's another sign the company wants to break its reliance on soda drinks shares are down before the open. Once stopped to watch out for this morning is Celgene Reuters has learned it's one -- two companies. Discussing whether it be different Human Genome Sciences human genome is trying to -- alternative. To a hostile offer by British drugmaker GlaxoSmithKline. Worth two point six 1000000000 dollars. That's your morning call this Monday you can follow us on Twitter at Reuters Insider. Check out our Reuters YouTube channel at Reuters dot com slash Reuters TV and Lisa Bernhard this is raiders.
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