Peter Schacknow, Senior Producer, CNBC Breaking News Desk
Wall Street comes off four straight weeks of losses in one of the most volatile markets in quite some time - and it's sobering to note that last week's declines of 4% or more in the major averages weren't even the biggest weekly declines of this month. U.S. stock index futures are pointing to a higher open this morning at this point, but they, too, have been quite volatile.
Today's trading will once again be news driven, especially in the absence of any significant earnings or economic numbers, though there's plenty of data on tap for later in the week, including new home sales, durable goods orders, and GDP. Later this week, Fed chairman Ben Bernanke will speak in a widely anticipated speech at the Fed's annual Jackson Hole, Wyoming symposium.
Crude oil prices are under pressure this morning, as traders anticipate a possible restart of Libyan oil exports with the apparent fall of Libyan leader Moammar Khadaffy. The dollar has bounced off a record low against the Japanese yen, and gold has once again reached a record high.
Dollar Thrifty (DTG) could be a stock to watch today, as it asks Hertz (HTZ) and Avis Budget (CAR) to put forth their best takeover offers. Both companies have bids on the table for their rival. We'll also watch shares of Dow component Verizon (VZ), as a strike involving 45,000 union workers ends, though no final contract agreement has been reached. Anadarko Petroleum (APC) may get some positive action, as an appraisal well in Mozambique has more than 70 meters of natural gas.
Sexual assault charges will likely be dropped against former IMF chief Dominique Strauss-Kahn today, according to WNBC-TV. Attorneys for DSK's accuser are scheduled to meet with prosecutors this afternoon.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.