Seeking Alpha

Stock futures predict extended decline following Thursday's selloff

  • Stock futures point to more losses at the open, with weaker than expected earnings from JPMorgan Chase adding to the gloom; S&P -0.4%, Dow -0.5%, Nasdaq -0.6%.
  • European and Asian markets also have been slammed following yesterday's rout in U.S. stocks: The Stoxx Europe 600 is off 1.6% and has dropped 3.3% since closing at a more than six-year high a week ago, and the Nikkei stumbled 2.4% to a six-month low.
  • JPM -3.7% premarket after Q1 earnings and revenue missed estimates, citing headwinds in its markets and mortgage businesses; Wells Fargo is flat after posting a Q1 earnings beat.
  • Some of the recent high-fliers that have been hit hard look to open even lower: Gilead Sciences -1.5%, Facebook -2.4%, Netflix -1.5% premarket.
  • Treasurys hold gains, with the benchmark 10-year yield down nearly 4 bps at 2.61%.
  • Still ahead: consumer sentiment.
Comments (1)
  • 11146471
    , contributor
    Comments (724) | Send Message
    Somehow I believe US markets will end-up in the green today.
    11 Apr, 09:29 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
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