HAL Crosses Critical Technical Indicator Wednesday, April 19, 3:50 PM ET, by Market News Video Staff In trading on Wednesday, shares of Halliburton Company (HAL) entered into oversold territory, changing hands ...
Indexes were down in Hong Kong and Japan while Chinese stocks surged despite further monetary tightening by Chinese central bankers. The Shanghai Composite advanced 0.2% even after authorities announced a 0.5% hike in banks’ reserve requirement. Despite gains elsewhere, Chinese banking stocks were hit hard by the news. --> Asia ETFs
European indexes fell, pushing the FTSEurofirst 300 index of top European stocks into negative territory for the year on debt concerns as Greece’s 10-year bonds are trading a record-high yield. Last week Moody’s downgraded Irish bonds, Portugal officially applied for a bailout two weeks prior while in Finland, parliamentary elections were dominated by conservative, anti-Eurozone political party, further putting pressure on the 27-nation monetary union. The Stoxx 50 is currently down 1.51%, the FTSE has slipped 1.02% and the Dax has fallen 1.04%. On a positive note, Phillips Electronics gained 0.9% after it announced that it will divest its struggling television unit to one of its joint ventures. Eurozone-wide consumer confidence will be released at 10:00 EST. --> Europe ETFs
Crude prices have retreated somewhat after a senior OPEC official stated that the oil market was oversupplied and that Saudi Arabia has responded by cutting output. A barrel of crude is going for USD 108.35 in New York. Gold, despite recent gains, retreated to USD 1,483.95 per troy ounce. --> Energy ETFs
In the US, Citigroup, Texas Instruments (NASDAQ:TXN) and Eli Lilly (NYSE:LLY) will release their earnings today.
US index futures are currently down as this quarter’s earnings season has been particularly rough for banks, with Bank of America (NYSE:BAC) and JP Morgan (NYSE:JPM) disappointing investors last week. Halliburton (NYSE:HAL) stock gained in pre-market trading after it announced 1Q 2011 profit had more than doubled quarter-on-quarter. The National Association of Home Builders will release their Housing Market Index at 10:00 EST.
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