As concerns over the coronavirus (also referred to as COVID-19) continue to dominate news headlines, cause volatility in the marketplace, and test investor confidence in securities markets, one thing remains unchanged - Leigh Baldwin & Co. and its commitment to assist clients through turbulent times. Along with the securities markets, we remain open and available to clients, ready to assist with any needs, questions, or concerns as they arise.
US stock futures are completely flat today. Futures on the Dow Jones Industrial Average are down 2 points to 13,223 and those on the S&P 500 index dropped 0.70 points to 1,412. Nasdaq-100 futures were bucking the trend up 6 points to 2,769. US consumer sentiment will be released at 9:55am, so the market might begin to move after the number is released. The consensus for consumer sentiment is 72. European markets are seeing mixed results today, with the FTSE-100 closed up 5.82 points or 0.10%. The CAC 40 down 2.31 points which is 0.07% and the DAX is trading higher up 18.64 points or 0.27%. Asian Markets looked healthy during their trading session as the Hang Seng rallied 153.12 points or 0.77%. The Nikkei 225 was also up exactly 0.77% or 69.74 points. In corporate news, Facebook Inc. (FB) co-founder and CEO Mark Zuckerberg saw his fortune fall $600 million to $10.2 billion after shares of the company dropped 6% yesterday. To make matters worse Zuckerberg has lost nearly 50% of his total net worth since Facebook's IPO. Today, Facebook looks to be trading up over $20.00 premarket. J.M. Smucker Co. (SJM) released that its first-quarter profit dipped 1% to $111 million, or $1 a share, from $111.5 million, or 98 cents a share, in the year-ago period. Adjusted profit increased to $1.17 a share from $1.12 a share. Sales increased by 15% to $1.37 billion, after the company purchased Sara Lee Corp.'s North American food service coffee and hot beverage business. Other companies that will be releasing earnings today include; Acer Inc., Cabo Drilling Co., Excelsior Medical Co Ltd., and Footlocker Inc. Some premarket gainers include, Marathon Petroleum Corp up 3.60%, Cabot Oil and Gas Corp (not to be confused with Cabo Drilling) up 2.77%, and J.M. Smucker Co. up 2.71%. Premarket losers include Humana Inc. down 2.84%, Best Buy Co Inc. down 1.47% and Alpha Natural Resources down 1.21%.
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