Stock Index Futures Signal Flat to Lower Open
PARIS - Stock index futures pointed to a flat to slightly lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.23 percent, Dow Jones futures down 0.13 percent and Nasdaq 100 futures up 0.04 percent at 0843 GMT.
European shares dipped on Wednesday, halting a sharp two-week rally that has propelled a key index to a level not seen since late March, but growing expectations that central banks could provide further support to boost ailing economies were seen likely to stem any weakness. (.EU)
NYSE Euronext (NYX.N) said on Tuesday that Knight Capital Group (KCG.N) would resume its responsibilities as a designated market maker on the New York Stock Exchange next Monday.
Top dairy company Dean Foods Co (DF.N), which is spinning off a unit that sells Silk soy milk and Horizon Organic dairy products, posted a stronger-than-expected quarterly profit on broad-based growth and cost controls, and its shares soared 27 percent.
Fruit and vegetable distributor Chiquita Brands International Inc's (CQB.N) quarterly revenue exceeded expectations as selling prices of bananas fell and sourcing costs rose, a n d the company said it plans to cut expenses. Chiquita's stock was up 9 percent at $5.75 in trading after the bell.
Mexico's biggest retailer, Wal-Mart de Mexico (WALMEXV.MX), said on Tuesday that sales at its Mexican stores open at least a year rose 1.2 percent in July from the same month last year. Wal-Mart de Mexico said sales at its Central American stores open at least a year fell 0.7 percent from July last year.
Demand Media Inc (DMD.N) raised its full year outlook and broke even for the first time as a public company. Demand shares rose 3.2 percent in after hour trading after closing at $11.63 on Tuesday.
Zillow Inc's (Z.O) quarterly profit fell modestly as the real estate website accounted for costs related to its acquisition of software start-up RentJuice Corp, and the company forecast third-quarter revenue in line with analysts' expectations.
Vivus Inc (VVUS.O), whose drug Qsymia recently became the second obesity pill to get U.S. approval in more than a decade, reported a larger-than-expected second-quarter loss, as it spent more ahead of marketing the newly-approved product.
Life insurer Primerica Inc's (PRI.N) quarterly profit rose 23 percent and came in above Street estimates on strong sales at its term-life insurance segment.
Jiangling Motors Corp <000550.SZ>, a major Chinese light commercial vehicle maker partly owned by Ford Motor (F.N), intends to expand into the country's heavy-truck business by taking over Taiyuan Changan Heavy Truck Co.
On the macro front, investors awaited preliminary second-quarter productivity and unit labor costs. Economists in a Reuters survey expect productivity to rise 1.3 percent versus a 0.9 percent decline in the revised Q1 report. Unit Labor costs are expected to rise 0.6 percent compared with a 1.3 percent rise in previous report.
Stocks rose for a third straight day on Tuesday, pushing the S&P above 1,400 for the first time since early May, on growing optimism the European Central Bank would act soon to contain the euro zone's debt crisis.
The Dow Jones industrial average (^DJI) rose 51.09 points, or 0.39 percent, at 13,168.60. The Standard & Poor's 500 Index (^GSPC) was up 7.12 points, or 0.51 percent, at 1,401.35. The Nasdaq Composite Index (^IXIC) was up 25.95 points, or 0.87 percent, at 3,015.86.
By Reuters, 08/08/2012