Market Preview: Wall Street Poised to Rise
Wednesday, March 09, 2022 9:02 AM

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Ahead of the opening bell the US stock futures were trading green. The Dow Jones Industrial Average ended up 124.35 points or 1.03 percent at 12,214.38. The Standard & Poor’s 500 Index climbed 11.69 points or 0.89 percent to 1,321.82 while, Nasdaq Composite Index reached 2,765.77, gaining 0.73 percent or 20.14 points.

Stocks to watch:

RF INDUSTRIES, LTD. (NASDAQ: RFIL) today announced that net income for the first quarter ended January 31, 2022 increased 145 percent to a first quarter record $351,000, or $0.10 per diluted share, compared to $143,000, or $0.05 per diluted share in the same quarter last year. RFIL last traded at $8.78 Tuesday.

BreitBurn Energy Partners L.P. (NASDAQ: BBEP), reported that its total production was at the high end of our guidance range at 6,699 MBoe in 2010, an increase of 3 percent from 2009. BBEP is trading 1.83 percent lower at $21.40 in pre-market session.

American International Group Inc. (NYSE: AIG) said late Tuesday it repaid $6.9 billion to the U.S. Treasury with funds raised from the sale of MetLife shares it held. AIG now owes the Treasury about $11.3 billion. AIG’s shares are valued at $37.69 before the market opens.

Blount International, Inc. (NYSE: BLT) reported that its sales in the fourth quarter of 2010 were $171.0 million, a 23.1 percent increase from the fourth quarter of 2009, and an 8.4 percent increase when excluding sales from acquisitions. BLT last traded at $15.83 on market close Tuesday.

Global Markets: FTSE, CAC40, DAX, Nikkei 225, Straits Times, Hang Seng, Shanghai Composite Index

European indices were trading on mixed note midday. Britain’s FTSE 100 was down 0.26 percent to 5,959.46 by 15.30 points, while Germany’s DAX was trading at 7,184.47, up 19.72 points or 0.28 percent. France’s CAC 40 was gaining 5.36 points or 0.13 percent to 4,021.27.

Asian markets ended on mixed note Wednesday. Japan’s Nikkei 225 gained 64.31 points or 0.61 percent to settle at 10,589.50. Hong Kong’s Hang Seng stood at 23,810.11, gaining 98.41 points or 0.42 percent. Singapore’s Straits Times closed at $ 3,092.90, down 10.94 points or 0.35 percent and Shanghai Composite Index finished 3.23 points or 0.11 percent higher at 3,003.17.

Crude Oil Above $105

Crude oil was trading at $105.13 per barrel, up by 0.10 percent or 0.11 points. Natural gas was down 0.05 percent at $3.86 per MMBtu. Gold stood at $1,426.90 while, silver was trading up at $36.36 per ounce by 0.71 points or 1.98 percent.

In the currency market, Euro gained 0.1323 percent against US$, trading at 1.3921. GBP gained 0.2722 percent against US$, was at 1.6206. US$ was 0.0363 percent down to Japanese Yen 82.6450. US$ lost against CAD 0.3502 percent, trading at 0.9676.

 

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Market news:

  • Gadhafi drives rebels from one of last strongholds Mar 13, 2022 02:54 PM

    • BENGHAZI, Libya - Moammar Gadhafi's forces drove rebels from one of their final strongholds on Libya's main coastal highway on Sunday, pushing at least 25 miles deeper into opposition territory after hours of terrifying assault from the air, land and sea.
    • Rebels said they were fleeing the oil town of Brega under heavy attack, losing a vital source of fuel for their vehicles and leaving Gadhafi's military less than 150 miles from the main opposition city of Benghazi.
    • A spokesman for Gadhafi's military declared that it had seized control of Brega.
      • Openness in state gov't? AP survey shows obstacles Mar 13, 2022 02:36 PM

        • NEW YORK - More openness in government.
        • The AP analysis was done in conjunction with this year's Sunshine Week, an annual initiative begun in 2002 to promote greater transparency in government.
        • To observe Sunshine Week, which runs March 13-20, AP journalists in all 50 statehouses reported on both recent improvements and the obstacles that still exist in many places.
          • Police fire on Yemeni protesters, 100 plus injured Mar 13, 2022 02:17 PM

            • SANAA, Yemen - Police on rooftops fired live bullets and tear gas at protesters Sunday, wounding at least 100 people camping out near Sanaa University.
            • The day's violence, which also left one dead in a southern province, was the latest evidence that monthlong protests demanding the resignation of Yemen's longtime leader were spiraling out of control.
            • Wielding clubs and knives, police and regime supporters described by protesters as government sponsored thugs attacked activists camped out near Sanaa university, said Mohammed al-Abahi, a doctor in charge of a makeshift hospital near the university.
              • Clinton spokesman resigns after WikiLeaks flap Mar 13, 2022 02:01 PM

                • WASHINGTON - State Department spokesman P.J. Crowley has resigned after causing a stir by describing the Army's treatment of the suspected WikiLeaks leaker as "ridiculous" and "stupid."
                • Crowley said in a statement Sunday that he took responsibility for the remarks, and that given their impact, he had submitted his resignation to Secretary of State Hillary Rodham Clinton.
                • President Barack Obama said Friday that the Pentagon has assured him the Army private believe responsible for the largest leak of classified American documents ever was being held under appropriate conditions.
                  • Gadhafi forces drive rebels from eastern oil town Mar 13, 2022 01:58 PM

                    • BENGHAZI, Libya - Moammar Gadhafi's forces swept rebel fighters out of a key oil town and into the desert Sunday with searing waves of artillery fire and airstrikes, extending their rapid advance on the poorly equipped and loosely organized fighters.
                    • Rebel officials in their stronghold of Benghazi told The Associated Press that Brega, the site of a major oil terminal, came under heavy shelling Sunday.
                    • While those military forces still loyal to him appeared to have seized back some momentum, Gadhafi is becoming more internationally isolated.

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