Seeking Alpha

Stocks heading south after earnings, economic data, Russia tensions

  • Stocks are on track for a lower open following a mixed bag of earnings and economic data, as well as renewed tensions between Russia and Ukraine; Dow -0.2%, Nasdaq -0.3%, S&P -0.4%.
  • Morgan Stanley +1.8% premarket after quarterly earnings beat expectations, but both Mattel (-7.5%)  and AutoNation (-4.6%) plunged following disappointing results; among U.S. economic data, jobless claims came in better than expected, but housing starts report fell short.
  • Major European indexes trade lower across the board following the latest round of U.S. sanctions against Russia; Asian markets ended the day on a mixed note.
  • Treasury prices hover near their highs, sending the 10-year yield down 3 bps at 2.50%.
  • Still ahead: Philly Fed, EIA natural gas inventory.
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