U.S. Morning Call: Markets set to start Q2 with a whimper
Monday, April 01, 2013 - 02:45
Apr 1 - Dow futures slid lower and S&P 500 futures were flat ahead of key manufacturing data.
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It's your Monday morning Colin US markets looking like things may start the second quarter on a down note. Dow futures sliding over 10% and the S&P looks flat. This after the S&P 500 broke through October 2007 record on Thursday it also finished up 10% for the quarter its best quarter a year. But not everybody is feeling loved Toys 'R' Us pulled its IPO recently one reason -- unfavorable market conditions. ExxonMobil is continuing its clean up a huge oil spill in Arkansas. The leak was discovered Friday near the town -- mayflower and resulted in the company's Pegasus pipeline. Which carry heavy Canadian crew being shut down. Exxon had no specific estimates of how much crude heads -- but the company said 121000 barrels of oil and water had been recovered. Some bullish news from -- on mosques Tesla. The luxury electric car company says it will see all profitability in the first quarter thanks to its model -- sales. Those cards exceeding targets 4750. Units vs the prior outlook of 45 under. The stock ended down slightly on others. Investors in the three point seven trillion dollar Muni market are eagerly waiting to see if Stockton California is eligible for bankruptcy protection from its creditors. The decision follows a three day trial in which California city argued it had no choice but to file for chapter nine. After the financial crisis left with 826 million dollar shortfall. Bondholders and major Muni bankruptcies have in repay you all of their principles since the 1930s. And they don't wanna see that change. But bankruptcy experts expect Stockton to win its case. We'll take the pulse of heavy industry at 10 AM eastern with the latest -- yes and manufacturing numbers. The index is set to hold steady in March at one and a half year highs according to latest Reuters poll. What warning from our experts at -- Fargo. Basic manufacturing could -- sluggish growth that as a deals with the 85 billion dollars worth of sequester cuts. That weakness could last until the fourth quarter. And at 1:30 PM eastern we interview billionaire investor and lover of all things distressed Wilbur Ross. Asking whether it's time to get at a junk bond is what the main challengers -- second quarter and whether where he's looking for his next big deal. Remember to follow us on Twitter Reuters Insider and get more of our great videos at Reuters dot com slash Reuters TV. I'm Lisa Bernhard. Is right.
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