For April 28, 2015, here are your stock futures, top market news, earnings reports, pre-market movers, and stocks to watch in the stock market today...
Stock Futures Today
U.S. stock futures for Tuesday, April 28, forecasted a 51-point decline from Monday's close ahead of a critical meeting by members of the Federal Reserve and a very busy earnings day.
The DJIA Index fell 42 points yesterday, while the biotech sector dragged down the Nasdaq. The Nasdaq Biotech Index (INDEX: NBI) cratered 4.1% in the sector's largest daily decline in nearly a month.
Top News in the Stock Market Today
Fed Watch: Today, U.S. investors will go back on "Fed Watch," as the Fed Open Market Committee kicks off a two-day meeting to discuss monetary policy and a pending interest rate increase. The central bank has all but ruled out a rate hike in June, which means it will continue its zero-interest rate policy for at least a few more months. However, investors will be looking for clues when Fed Chair Janet Yellen issues a statement on Wednesday at 2:30 p.m.
Looking Abroad: New concerns are emerging over the brewing debt negotiations between Greece and it debt obligations. The country's Prime Minister Alexis Tsipras said he might ask Greek citizens to approve a new debt deal, despite his election centering on an anti-austerity platform. Should Greece fail to meet its debt obligations, it is likely to fall out of the Eurozone and the common currency, and it could experience a number of economic problems like rampant inflation.
Oil Prices Today: Crude-oil prices slid this morning on news that Saudi Arabia has pledged to continue pumping oil at record levels. In addition, new inventory data is expected to provide insight into how much oil the U.S. has been producing over the last week. Brent oil gained 0.1% this morning to hit $64.87 per barrel. WTI crude were flat at $56.95 per barrel.
Pre-Market Movers in the Stock Market Today: AAPL, BP
Pre-Market Movers 1, AAPL: Shares of Apple Inc. (Nasdaq: AAPL) hit an all-time high in pre-market hours after the company shattered earnings expectations after the bell on Monday. The company said it earned $2.33 per share in its second quarter, which beat analyst expectations by $0.17. In addition to reporting sales of 61.2 million iPhones and 12.6 million iPads over the quarter, the tech giant said it will boost its dividend by 11%. The stock was up more than 2.2% in pre-market hours.
Pre-Market Movers 2, BP: Shares of BP Plc. (NYSE ADR: BP) were up nearly 2% this morning after the firm became the first of the largest Big Oil companies to report quarterly earnings. The firm reported quarterly earnings of $2.57 billion, besting analyst expectations of $2.239 billion. However, the company reported lower profitability levels due to cratering crude oil and natural gas prices.
Stocks to Watch Today: BOJA, TSN, F, TWTR, CMG
Stocks to Watch No. 1, BOJA: The casual fast-food dining IPO boom continues with news that chicken-and-biscuit chain Bojangles has set a price range of $15 to $17 per share for its initial public offering. Although the company has yet to set a date for its IPO, the firm said the proceeds of the deal will not go to the company. Instead, it will go to existing shareholders. The company plans to trade using the ticker BOJA.
Stocks to Watch No. 2, TSN: Chicken and meat company Tyson Foods Inc. (NYSE: TSN) announced plans this morning to eliminate human antibiotics from its chicken products. The news comes a day after casual dining giant Chipotle Mexican Grill (NYSE: CMG) announced plans to eliminate genetically modified ingredients. Shares of TSN slipped 0.4% in pre-market hours.
Stocks to Watch, Pre-market earnings: Today, keep an eye out for earnings reports from Ford Motor Co. (NYSE: F), Twitter Inc. (Nasdaq: TWTR), Buffalo Wild Wings Inc. (Nasdaq: BWLD), Panera Bread Co. (Nasdaq: PNRA), Coach Inc. (NYSE: COH), Pfizer Inc. (NYSE: PFE), Merck & Co. Inc. (NYSE: MRK), GoPro (Nasdaq: GPRO), United States Steel Corp. (NYSE: X), Bristol-Myers Squibb Co. (NYSE: BMY), and BP Plc (NYSE: BP).
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.
