LONDON (SHARECAST) - -Sharp falls in West Texas crude futures
-S&P first support comes in at 1,400 point area
-FOMC two day meeting starts today
Dow Jones: -1.80%
Nasdaq Comp.: -1.09%
S&P 500: -1.59%
The month of October has a bad reputation with traders for a reason. Thus, the main US equity benchmarks are now registering large drops, along with other asset classes such as oil or Eurozone periphery debt.
That following a bevy of weak company results out Stateside last night and earlier today. Chief amongst these has been chemicals maker DuPont, after which industrial conglomerate 3M and Xerox have lowered their earnings per share guidance for the year.
Results out of Texas Instruments, United Technologies and Regions Financial have also come in below forecasts.
Further weighing on markets, and acting as a backdrop, may be comments from German Finance Minister Wolfgang Schaeuble regarding how his government will not back any aid for Greece which it might deem unsustainable. Likewise, weak data out today in France is thought to be a factor behind the more negative market tone today, as is the negative market chatter surrounding Spain and the Eurozone periphery more generally.
Not all is bad news however, at least on the corporate front, amongst the exceptions out there today are Coach , Lexmark, Whirlpool, Harley Davidson and Yahoo (shares of the latter rose 5% after the close of trading last night).
Meantime, and in M&A news, retailer Target has announced that it is to sell a $5.9bn credit card portfolio to TD Bank Group.
RBC is to acquire Ally Canadian for $4.1bn.
Apple is expected to unveil its new mini iPad later this evening.
Waiting on the FedNot to be lost sight of, the Federal Open Market Committee will today begin a two day policy meeting.
The Richmond Federal Reserve’s manufacturing index for the month of October has come in at -7, versus 4 for the month before (Consensus: 5).
Same-store retail chain sales fell by 1.7% last month.
NYMEX futures drop sharply
10 year US Treasuries are now rising by 16/32 dollars, with yields at the 1.75% mark.
Front month West Texas crude futures are now falling by 3.021 dollars to the 86.09 dollar per barrel level on NYMEX.
S&P 500 - Risers
Coach Inc. (COH) $57.82 +6.74%
Harley-Davidson Inc. (HOG) $46.40 +6.59%
Ryder System Inc. (R) $45.94 +5.78%
Yahoo! Inc. (YHOO) $16.67 +5.68%
Whirlpool Corp. (WHR) $90.00 +4.28%
Lexmark International Inc. (LXK) $22.44 +3.65%
United Parcel Service Inc. (UPS) $73.45 +2.64%
Airgas Inc. (ARG) $82.88 +1.59%
Illinois Tool Works Inc. (ITW) $61.42 +1.42%
Chipotle Mexican Grill Inc. (CMG) $240.02 +1.06%
S&P 500 - Fallers
Xerox Corp. (XRX) $6.41 -8.82%
E.I. du Pont de Nemours and Co. (DD) $45.56 -8.43%
Regions Financial Corp. (RF) $6.52 -7.91%
Monster Beverage Corp (MNST) $42.61 -6.82%
Tesoro Corp. (TSO) $35.95 -5.69%
NRG Energy Inc. (NRG) $21.87 -5.00%
Pioneer Natural Resources Co. (PXD) $99.76 -4.85%
Valero Energy Corp. (VLO) $28.05 -4.82%
Hess Corp. (HES) $51.92 -4.75%
Alexion Pharmaceuticals Inc. (ALXN) $99.21 -4.63%
Dow Jones I.A - Risers
Microsoft Corp. (MSFT) $28.10 +0.36%
Dow Jones I.A - Fallers
E.I. du Pont de Nemours and Co. (DD) $45.56 -8.43%
3M Co. (MMM) $89.37 -3.41%
Chevron Corp. (CVX) $109.27 -3.08%
Alcoa Inc. (AA) $8.82 -3.08%
Hewlett-Packard Co. (HPQ) $14.35 -2.45%
Caterpillar Inc. (CAT) $83.20 -2.21%
Exxon Mobil Corp. (XOM) $90.16 -2.20%
General Electric Co. (GE) $21.23 -2.17%
JP Morgan Chase & Co. (JPM) $41.28 -1.94%
American Express Co. (AXP) $55.70 -1.83%
Nasdaq 100 - Risers
Yahoo! Inc. (YHOO) $16.67 +5.68%
Research in Motion Ltd. (RIMM) $7.79 +1.30%
Virgin Media Inc. (VMED) $33.21 +1.03%
CH Robinson Worldwide Inc (CHRW) $60.45 +1.00%
Check Point Software Technologies Ltd. (CHKP) $42.56 +0.81%
Apollo Group Inc. (APOL) $20.25 +0.65%
Google Inc. (GOOG) $683.04 +0.64%
Baidu Inc. (BIDU) $114.40 +0.61%
Expeditors International Of Washington Inc. (EXPD) $35.54 +0.59%
O'Reilly Automotive Inc. (ORLY) $80.64 +0.40%
Nasdaq 100 - Fallers
Monster Beverage Corp (MNST) $42.61 -6.82%
Alexion Pharmaceuticals Inc. (ALXN) $99.21 -4.63%
Seagate Technology Plc (STX) $27.20 -3.92%
Randgold Resources Ltd. Ads (GOLD) $118.43 -3.42%
NetApp Inc. (NTAP) $28.92 -3.28%
Green Mountain Coffee Roasters Inc. (GMCR) $23.34 -2.87%
News Corp. Class A (NWSA) $24.06 -2.71%
Viacom Inc. Class B (VIAB) $53.77 -2.68%
PACCAR Inc. (PCAR) $40.09 -2.46%
Sigma-Aldrich Corp. (SIAL) $71.24 -2.36%
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