Market Happenings for Monday, March 12, 2012

Pre-market, futures are mixed. Gainers this morning include CCL, ROST, HSY, GCI and URBN while losers include FHN, EP, EA, ORCL and LUV. Light crude is down -1.31% at 105.99 and gold is down -0.86% at 1,696.70.

The Market

The Fed meets this week on Tuesday and is expected to leave interest rates unchanged.

Euro stocks are mostly lower in morning trade and Asian markets ended mostly lower.

Bank of America (BAC) shares were off by about 1% in pre-market trading. Friday, the bank said it would significantly slash mortgage balances for as many as 200,000 borrowers, as part of the $26 billion settlement reached between the five major mortgage servicers.

Gas prices are on the move again as the national average moves to $3.801 per gallon.

Looks like we will be having a choppy trading day.

Earnings Reports

Earnings reports (confirmed releases): URBN-Urban Outfitters (earnings consensus $0.29), AL-Air Lease (0.24), PNY-Piedmont Natural Gas (1.19), CLNE-Clean Energy Fuels (-0.17), CHDN-Churchill Downs (-0.01), SNHY-Sun Hydraulics (0.30), RDEA-Ardea Biosciences (-0.90), AWR-American States Water (0.37), KW-Kennedy-Wilson Holdings (0.13), IRET-Investors Real Estate Trust (0.01), REN-Resolute Energy (0.11).

Financial Calendar

1130 ET Weekly 3-mo and 6-mo T-bill auctions.

1300 ET Treasury auctions $32 billion 3-year T-notes.

1400 ET Feb monthly budget statement expected -$229.4 billion, Jan -$27.412 billion.

You can leave a response, or trackback from your own site.

Leave a Reply

You must be logged in to post a comment.