Market Happenings For Tuesday, December 11, 2012

Premarket, futures are up. Gainers this morning include PCLN (+3.21%), GNW, LTD, SYK and DHR while losers include MU (-3.45%), NVDA, MYL, SE and CSCO.

The Market

The Fed begins it’s two day meeting today.

Economists predict the Federal Open Market Committee will purchase Treasuries to bolster an existing program to buy $40 billion in mortgage bonds each month. The panel pledged in October to continue that plan until the labor market improves substantially.

There are no Dow stocks at 52 week highs or lows today.

Bank of America (BAC) is up +90.11% year-to-date followed by Home Depot (HD) at +49.95%.

Budget negotiations between the White House and Republican House Speaker John Boehner have progressed steadily in recent days according to people close to the process.

The national average price of gasoline fell 1.2 cents to $3.328 per gallon.

Earnings Reports

Earnings reports (estimates): DG-Dollar General ($0.60), GEOS-Geospace Tech (0.64), CNSI-Comverse (0.78%).

Financial Calendar

0830 ET U.S. Oct trade deficit expected -$42.5 bln, Sep -$41.5 bln.

0830 ET USDA WASDE report.

1000 ET Oct wholesale inventories expected +0.4% m/m, Sep +1.1% m/m.

1300 ET Treasury auction of $32 billion in 3-year T-notes.

n/a FOMC 2-day meeting begins.

1630 ET API weekly U.S. oil statistics.

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