Sunday, February 24, 2013

Stocks headed for weak open | Synopsis

Stocks headed for weak open

Ennis Rimawi - World Economic Forum Special Meeting on Economic Growth and Job Creation in the Arab World
Ennis Rimawi - World Economic Forum Special Meeting on Economic Growth and Job Creation in the Arab World by World Economic Forum
License (according to Flickr): Attribution-ShareAlike License
Excerpt:

NEW YORK (CNNMoney) -- U.S. stock futures trimmed earlier losses Friday, as investors weigh the latest corporate earnings against a stronger-than-expected report on U.S. economic growth. Gross domestic product, the broadest measure of economic activity, rose at a 2% annual rate in the third quarter, according to government data. The figure was higher than the 1. 7% rate economists surveyed by CNNMoney had forecast and came after GDP grew 1. 3% in the second quarter. Investors were also digesting the latest reports on corporate sales and earnings in the third quarter. Apple (AAPL, Fortune 500), one of the most widely held stocks in the S&P 500, reported quarterly results that missed expectations, despite predictions for a strong fourth quarter. Additionally, Amazon (AMZN, Fortune 500) reported a narrower-than-expected loss but missed on sales.

Stocks headed for weak open

Additional Info:

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