January 11, 2012Peter Schacknow, Senior Producer, CNBC Breaking News Desk
The U.S. stock market goes into the new trading day with some positive momentum, as both the Dow and the S&P 500 post their highest closes in more than five months.
The Nasdaq is coming off four straight days of gains, the first such streak in more than a month.
There are no government economic numbers set for release today, but investors will be looking forward to the Federal Reserve’s latest Beige Book.
The region-by-region assessment of the nation’s economy is set for release at 2pm ET.
The Mortgage Bankers Association will be out with its weekly look at mortgage applications at 7am ET, and the Energy Department will releases its weekly look at oil and gasoline inventories at 10:30am ET.
Richmond Fed President Jeffrey Lacker will be live on Squawk Box at 8am ET in a CNBC exclusive interview, while three other Federal Reserve officials are set for speeches today, all focusing on the economic outlook.
Chicago Fed President Charles Evans and Atlanta Fed President Dennis Lockhart will give breakfast speeches, while Philadelphia Fed President Charles Plosser has a lunchtime engagement.
On the earnings calendar, home builder Lennar (LEN) and supermarket operator Supervalu (SVU) will release their quarterly numbers this morning, while no reports of note are scheduled for release after the closing bell.
Crocs (CROX) is a stock to watch this morning, after saying its fourth quarter revenue will be at the high end of its prior guidance.
Urban Outfitters (URBN) took a 10% hit in after-hours trading, following news that chief executive officer Glen Senk has resigned. He’ll be replaced by company co-founder and chairman Richard Hayne.
We’ll watch shares of NYSE Euronext (NYX), as EU officials have preliminarily rejected the proposed merger with Deutsche Boerse, although intense lobbying efforts are still underway to save the deal.
Retailer Coldwater Creek (CWTR) will be under pressure today, taking a 7% loss after-hours following a warning of a bigger than expected fourth quarter loss.
Intel (INTC) could see some positive action today as the company says Motorola and Lenovo will use Intel chips in new smartphones, an area where Intel has been less than successful in the past.
Another market to keep an eye on: orange juice futures, which have been soaring in recent days. They hit an all-time high in Tuesday’s trading on fears that the U.S. might ban imports from Brazil. The FDA is testing Brazilian orange juice for traces of an illegal fungicide
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