SmarTrend Morning Market Update: April 27, 2010

Description

USstock futures are trading lower Tuesday as investors grow concerned about economic growth again in light of Greece's debt problems and China's economy. European shares fell as concerns resurfaced Greece's ability to tap a bailout package and relieve its debt problems. Asian markets fell on news that China is again trying to cool down the country's economic growth. In the US, investors will be look for cues from the Federal Reserve as they kick-off their two-day, rate-setting meeting. The Fed has said that it plans to keep rates at historic lows for an extended time to help the recovery. Congress' debate about overhauling financial regulations will also be in focus today. Economic reports due out include home prices and consumer confidence. Economists expect that the S&P/Case-Shiller home price index for February rose 1.2%. Economists expect the Conference Board's index likely rose to 53.5 this month from 52.5 in March. In corporate news, Daimler AG (NYSE:DAI) reported first quarter net income of 667 million euros, up from a loss of 1.32 billion in the year-ago period. Revenue rose 13% to 21.19 billion euros. CIT Group (NYSE:CIT) reported fiscal first quarter net income of $97.3 million, or $0.49 per share. Revenue from interest rates and fees on loans was $1.04 billion and net interest revenue was $211.2 million. DuPont (NYSE:DD) reported Q1 EPS of $1.24, topping consensus estimates of $1.06. Revenues in the quarter rose 23.5 % to $8.4 billion, and came in ahead of <b>...</b>

Keywords

Greece, China, Daimlet, DAI, CIT, Group, dupont, DD, Stock, News

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