US STOCKS-Futures dip on growth concerns, bank earnings eyed

Wed Jan 16, 2013 12:08pm GMT



* Japanese airlines ground Dreamliners after emergency landing

* Dell buyout talks advance

* Futures off: Dow 37 pts, S&P 2 pt, Nasdaq 1.5 pts

NEW YORK, Jan 16 (Reuters) - U.S. stock index futures slipped on Wednesday, pressured by low growth expectations and ahead of earnings from major financials including Goldman Sachs.

* JPMorgan Chase & Co reported an increase in fourth-quarter profits as the biggest U.S. bank made more home loans.

* Shares of Dow component Boeing fell 4.2 percent in premarket trading on concerns about the safety of its Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s on Wednesday after one of the jets made an emergency landing.

* A slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply cut its outlook for world growth in 2013. Global gross domestic product will rise 2.4 percent this year, the bank said, down from its June forecast that global growth would reach 3.0 percent in 2013.

* S&P 500 futures fell 2 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 37 points, and Nasdaq 100 futures lost 1.5 points.

* Talks to take Dell Inc private are at an advanced stage with at least four major banks lined up to provide financing, two sources with knowledge of the matter told Reuters.

* This earnings season the U.S. technology industry is in the unusual position of dragging corporate America down.

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Comments (1)
Trader_101x wrote:
Worries about the global economy? What about the rhetoric spewing from Obama that the US and global economy are both on the road to recovery under his stewardship; was that a complete lie? Either Obama lied to the American people, or the analysts are wrong as usual. Either one is just as likely as the other, although I am inclined to believe that this is an attempt by the financial institutions to manipulate the markets down, so that the Goldman’s and JP Morgan’s can make a little extra buck; need I remind them that market manipulation is crooked and not to mention ILLEGAL. These institutions should just accept that, due to incompetence, they missed out on the rally, and buy in before the market rises even higher.

Jan 16, 2013 12:42pm GMT  --  Report as abuse
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