Before The Bell

by CC October 13, 2011 9:06 am • Commentary

Seeking Alpha

Today’s Markets:
In Asia, Japan +1.0% to 8823. Hong Kong +2.3% to 18758. China +0.8% to 2555. India flat to 16951.
In Europe, at midday, London -0.9%. Paris -0.9%. Frankfurt -1.2%.
Futures at 7:00: Dow -0.2%. S&P -0.3%. Nasdaq flat. Crude -1.6% to $84.22. Gold -0.6% to $1673..

Thursday’s economic calendar:
8:30 Initial Jobless Claims
8:30 Trade Balance
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
1:00 PM Results of $13B, 30-Year Bond Auction
2:00 PM Treasury Budget
4:30 PM Money Supply
4:30 PM Fed Balance Sheet


U.S. stock index futures fell on Thursday after earnings from JPMorgan Chase and weaker-than-expected economic data in China reawakened worry about a slowing global economy.

JPMorgan Chase & Co (JPM.N) slipped 1.8 percent to $32.62 in premarket after the first major U.S. bank to announce results for the period reported lower third-quarter net income as the European debt crisis set back corporate dealmaking.

China’s trade surplus narrowed for a second straight month in September, as both imports and exports were lower than expected, reflecting global economic weakness and domestic cooling.


The number of Americans filing claims for jobless benefits was little changed last week, showing the labor market is making scant progress.

Applications for unemployment insurance payments decreased 1,000 in the week ended Oct. 8 to 404,000, Labor Department figures showed today. Economists forecast 405,000 claims, according to the median estimate in a Bloomberg News survey. The number of people on unemployment benefit rolls dropped to the lowest level in six months.


Pre-Market Brief:

Market tone: Stocks called lower; dollar pushes euro, sterling and Australian dollar lower; Treasurys higher; Nymex down at $84.33; gold higher at $1,675.20

Overnight action: Berlusconi calls for vote of confidence; BlackBerry reports ‘significant’ improvement; Cain vaults to lead in Poll

Watch for: Unemployment Insurance Claims Report; International Trade; earnings from J.P. Morgan Chase and Google