Market Happenings for Friday, August 17, 2012

Premarket, futures are mixed, near unchanged. Gainers this morning include PXD (+2.86%), GPS, COG, PHM and WYN while losers include HUM (-2.84%), WY, BBY, GNW and CCL.

The Market

Not much going on this morning.

European markets are up after German Chancellor Angela Merkel appeared to back the European Central Bank’s bond-buying plans.

Asian markets ended higher.

At 9:55 a.m. ET, the University of Michigan will release the preliminary August reading of its Consumer Sentiment Index. The reading is expected to bet 72.2, down a bit from July’s 72.3.

At 10 a.m. ET, the Conference Board will release its index of leading economic indicators for July, which is expected to have risen by 0.2%.

The national average price of gasoline is up six-tenths of a cent to $3.716 per gallon.

Earnings Reports

Earnings reports (estimates): SJM-JM Smucker ($1.00), FL-Foot Locker (0.33), TOO-Teekay Offshore Partners LP (0.26), HIBB-Hibbett Sports (0.27), ANN-ANN Inc. (0.51).

Financial Calendar

0955 ET Early-Aug U.S. consumer confidence index (University of Michigan) expected unchanged at 72.3, July -0.9 to 72.3.

1000 ET July leading indicators expected +0.2% m/m, June -0.3% m/m.

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