Major Averages Get Last Chance To Wipe Out June Losses
The Dow, the S&P 500, and Nasdaq are all on track to post their first losing month of 2013, though given the action of recent days, that could change. The Dow is down 91 points for the month, but has posted triple digit moves in 15 of 19 June sessions, including triple-digit gains in each of the past three days.
A busy week for economic numbers concludes with two reports today, starting with the Chicago Purchasing Managers Index at 9:45 a.m. ET. Economists look for that index to fall to 55.0 for June from 58.7 in May. At 9:55 a.m. ET, the University of Michigan's Consumer Sentiment Index should come in at 83.0 for June, according to consensus forecasts, compared to the preliminary June reading of 82.7 and May's final 84.5.
It's also another busy day for Fed speakers, with Richmond Fed President Jeffrey Lacker, Cleveland Fed President Sandra Pianalto, San Francisco Fed President John Williams, and Fed Governor Jeremy Stein all with scheduled speakers.
BlackBerry (BBRY) will report quarterly earnings this morning, and will also reveal sales figures for its new Z-10 handset.
Nike (NKE) leads our list of stocks to watch, with the athletic footwear and apparel maker reporting fiscal fourth quarter profit of $0.76 per share, two cents above estimates, with revenues also beating consensus. Nike has seen strong demand in both the U.S. and many of its overseas markets, and that trend is remaining in place with future orders up 8 percent in the quarter from the year-ago period.
Accenture (ACN) earned $1.14 per share for its fourth quarter, one cent above estimates, though the consulting firm's revenues came up short of Wall Street forecasts. The company also lowered its full year revenue outlook, following two years of growth.
Pfizer (PFE) announced a new $10 billion share buyback program, in addition to $3.9 billion remaining from the drug maker's earlier buyback authorization.
Citigroup (C) may add as many as three directors to its board, according to chairman Michael O'Neill, who said the board may not have "all the right skills" in place.
Yahoo (YHOO) is likely to fall out of the race to buy Hulu, according to Variety, which characterizes the Yahoo bid as "low".
Google (GOOG) is developing a videogame console and wristwatch based on its Android operating system, according to the Wall Street Journal.
Reuters reports Sprint (S) and Clearwire (CLWR) won't be required by federal regulators to sell any spectrum as part of the deals which will see Sprint buy the part of Clearwire it doesn't already own, and Japan's Softbank buying most of Sprint.
Molycorp (MCP) will not be hit with an enforcement action from the SEC, which has closed an investigation into the rare earth mining company's public disclosures.