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Looking Ahead to Wednesday's Market

October 23, 2012 @ 4:27 PM EST

by Don Moenning

Quick Recap of Tuesday’s Session:

Stocks finished significantly lower on Tuesday. Major indices started the session plummeting following Moody’s downgrade of five Spanish regions and big earnings misses from Du Pont (DD) and 3M (MMM). The selling continued in early trading before the bulls stopped the bleeding around 10:35am EST. Stocks found some footing after that, rallying into the afternoon. However, negative action in Apple (AAPL) due to reactions over the company’s smaller iPad announcement and speculation ahead of its earnings announcement on Thursday dragged on markets towards the end of the day. Major indices finished in decidedly negative territory, though slightly higher than their intraday lows.

S&P 500 -1.44%, NASDAQ -0.88%, DJIA -1.82%, Midcaps -0.66%.

Looking Ahead to Wednesday:

  • Overnight we get flash PMIs from China, Prelim PMIs from all around Europe, Business Climate & Expectations from Germany, and Consumer Confidence from Italy.
  • Before the bell here in the U.S. is MBA Mortgage Purchase Applications, and flash Manufacturing PMI.
  • Also before the bell are a slew of high profile earnings announcements: Boeing (BA), Bristol-Myers (BMY), Dr Pepper Snapple (DPS), Eli Lilly (LLY), Owens Corning (OC), and AT&T (T).
  • Shortly after the open we get the FHFA House Price Index and New Home Sales at 10:00am EST.

 

  S&P 500 - Intraday
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  S&P 500 - Last 12 Months
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AAPL, OC, T, DPS

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