Peter Schacknow, Senior Producer, CNBC Breaking News Desk
U.S. stock futures are pointing to a slightly lower open on this first trading day of the new year, following a decidedly mixed 2011. The Dow gained 5.5 percent for the year, but the Nasdaq fell 1.8 percent and the S&P 500 was virtually flat – down exactly 0.04 points for the year.
The new year begins with fresh economic data points from the old year: at 10am ET, the Institute for Supply Management’s monthly manufacturing index is expected to increase to 53.5 for December from 52.7 in November. Also at 10am ET, the government’s November construction spending figures are forecast to show a 0.3 percent increase, following October’s rise of 0.8 percent. And at 2pm ET, the Fed will issue the minutes of its most recent policy meeting.
No corporate earnings are scheduled for release today, though fourth quarter earnings season is just around the corner.
Jefferies Group (JEF) could be a stock to watch today, as it reaches an agreement with Nasdaq to resolve a dispute over interest rate swaps through arbitration.
Dow component Boeing (BA) has won a $3.5 billion missile contract from the U.S. Defense Department, beating out rival Lockheed Martin (LMT). We’ll watch shares of Mead Johnson Nutrition (MJN) as the FDA says there’s no need to recall its infant formula Enfamil.
Chesapeake Energy (CHK) also makes our watch list – it’s sold a stake in a shale gas project to French oil giant Total for about $2 billion. Another prominent energy story is back in the news, with BP (BP) suing contractor Halliburton (HAL) to recover cleanup costs related to the massive 2010 Gulf of Mexico oil spill.
Teva Pharmaceutical (TEVA) says its CEO Shlomo Yanai will retire in May and be succeeded by Bristol-Myers Squibb (BMY) executive Jeremy Levin
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