Wall Street cautious as it prepares for more earnings reports
Filed under: Company News, Economy, Investing, Earnings, AT&T, Bristol-Myers Squibb, Amazon.com, Inc.
The latest snapshot on the economy by the Federal Reserve helped drive shares down in late-day trading Wednesday in New York and appear to be weighing on stock futures ahead of Thursday's opening bell, with U.S. stocks set to head lower. The Fed's latest Beige Book report showed the economy is struggling to emerge from the recession, and may be doing so too slowly for investors' taste.Disappointing earnings from the likes of eBay Inc. (EBAY) furthered investor pessimism. Shares of the Internet auction house fell 5 percent in aftermarket trading after the company reported third-quarter profits slumped 29 percent.
Watch for a slew of more corporate earnings reports today, including those from: manufacturing conglomerate 3M Co. (MMM); communications-giant AT&T Inc. (T); Internet retailer Amazon.com Inc. (AMZN); tool-maker Black & Decker Corp. (BDK); drug maker Bristol-Myers Squibb (BMY); oil-seed processor Bunge Ltd. (BG); credit-card issuer Capital One Financial Corp. (COF); insurer Chubb Corp. (CB); and fast-food chain Chipotle Mexican Grill Inc. (CMG) -- just to name a few.
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Reader Comments (Page 1 of 1)
10-22-2009 @ 9:28AM
setec5354 said...
guaranteed 100%,the unemployment will keep on rising all thru 2010 with no let up and the word depression will be used.
The damaged of the financial sectors done to main street is equal to the detonation of a nuclear explosion.
Look at japan, the devastation to those when the A-bomb was dropped ....means no recovery till ten years out and only cover-up with the words...recovery is on the way.
Don't have to believe what I say,just watch how real it will turn out!!!!! And how many of the PONZI rats are still running the show!!
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10-22-2009 @ 12:34PM
Henry Hull said...
THE ECONOMY IS FAILING.....LOOK AT ALL THE MONEY SPENT WORLD WIDE ON THIS ECONOMY, NOW LOOK AT THE HARD NUMBERS....UNEMPLOYMENT STAGGERING, BANKRUPTCIES STAGGERING, EARNINGS, RECORD LOWS(FORGET WHAT YOU SEE ON WALL STREET AND THE MEDIA, THESE ARE ALL FIXED RESULTS BASED ON WHAT FINANCIAL NEWS NETWORKS WANT TO SET AS THE "STANDARD OF EXPECTATIONS" WHICH IS ALWAYS LOWER THAN WHAT YOU GET..BUT WHICH IS STILL RECORD LOW.) TRADE DOWN, MANUFACTURING DOWN, PRODUCTION DOWN, EVEN GOVERNMENT JOBS ARE FAILING TO INCREASE!!!! WE ARE LOOKING AT A DEAD ZONE ONCE CHINA'S STIMULATION AND THE US STIMULATION COME TO AN END...UNLESS ONE OF THE BIG BANKS, OR GE DEFAULTS BEFORE THAT TIME.
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