US pre-open: Nervously awaiting GDP data

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Thursday 28 Aug 2008

LONDON (ShareCast) - US shares look set to give back some of Wednesday’s gains, although sentiment may be altered by the release of US Gross Domestic Product data, which will include the core PCE reading, which measures prices paid by individuals for items excluding food and energy.

First time jobless claims for last week are also due to be released today.

Oil prices are on the rise again as weather experts suggest that Tropical Storm Gustav could be upgraded back up to hurricane status and may hit the oil producing region in the Gulf of Mexico this week-end.

The Dow Jones 30 is expected to open down 40 at 11,473 while the S&P 500 is tipped to open 3 points easier. The NASDAQ Composite is slated to open 6 points lower at 1,894.

Corporate newsflow ahead of trading has been mostly positive, however, with department store Sears and jeweller Tiffany’s both reporting better than expected results.

Sears saw net profit tumble 62% in the second quarter to $65m, giving earnings per share (EPS) of $0.50. Analysts had been bracing themselves for an EPS figure as low as $0.33.

Tiffany’s second quarter earnings per share figure also topped expectations, coming in at $0.63 versus a consensus forecast of $0.55.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).