Market Preview: Wall Street Poised For Mixed Open
Tuesday, April 12, 2022 9:20 AM

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total February exports of $165.1 billion and imports of $210.9 billion resulted in a goods and services deficit of $45.8 billion, down from $47.0 billion in January, revised.  February exports were $2.4 billion less than January exports of $167.5 billion.  February imports were $3.6 billion less than January imports of $214.5 billion.

Ahead of the opening bell, the US stock futures were trading red after Japan upgraded the severity of its nuclear crisis. The Dow Jones Industrial Average was 48 points or 0.39 percent down at 12,273. The Standard & Poor’s 500 Index lost 7.30 points or 0.55 percent to 1,312.30 while, NASDAQ Composite Index reached 2,298, losing 10 points or 0.43 percent.

Stocks to watch: SUBK, AA, MRK, FAST

Suffolk Bancorp (NASDAQ: SUBK) reported that its loss-per-share was $1.33, in comparison to earnings of $0.16 during the comparable period of 2010. The net loss was $12.89 million, compared to net income of $1.5 million during the first quarter of last year. SUBK last traded at $20.69, up 1.37 percent on Monday.

Alcoa (NYSE: AA), the world’s largest aluminium company, matched profit expectations in Q1 2011 with EPS of $0.27, up from a $0.20 loss in the same period last year. Revenue missed forecasts despite climbing 22 percent to $5.96 billion. AA is trading 3.38 percent down at $17.17 before the market opens.

The FDA has approved the use of Merck's (NYSE: MRK) Sylatron drug to treat skin cancer in patients with node-positive melanoma following the removal of the affected part. MRK last traded at $33.59, losing 0.24 percent on Monday.

The Fastenal Company of Winona, MN (NASDAQ: FAST), reported the results of the quarter ended March 31, 2011. The net sales for the quarter were $0.64 million against $0.52 million in the comparable period last year, an increase of 23 percent. FAST is trading 0.74 percent down at $67 in pre-market.

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

European indices were trading red midday. Britain’s FTSE 100 was down at 5,990.95 by 62.49 points or 1.03 percent, while Germany’s DAX was at 7,130.07, losing 74.79 points or 1.04 percent. France’s CAC 40 lost 44.59 points or 1.10 percent to 3,994.11.

Most of the Asian markets were trading red Tuesday. Japan’s Nikkei 225 lost 164.44 points or 1.69 percent to settle at 9,555.26. Hong Kong’s Hang Seng stood at 23,976.37, losing 326.70 points or 1.34 percent. Singapore’s Straits Times ended at 3,138, down 22.44 points or 0.71 percent and Shanghai Composite Index finished 0.58 points or 0.02 percent higher at 3,023.33.

Oil above $109

Crude oil lost 0.44 percent, trading at $109.44 per barrel. Natural gas was down 0.56 percent at $4.09 per MMBtu. Gold was trading lower at $1,461.50 per ounce by 5.90 points or 0.40 percent while silver was trading at $40.44 losing 0.16 points or 0.40 percent.

In the currency market, Euro gained 0.1531 percent against US$, trading at 1.4454. GBP lost 0.5439 percent against US$, at 1.6255. US$ was 0.5314 percent lower to Japanese Yen 84.2250. US$ gained 0.2311 percent against CAD, trading at 0.9587.

On Thursday, the Dow Jones ended up by 1 point or 0.01 percent at 12,381. The Standard & Poor’s 500 Index ended at 1,324, losing 4 points or 0.28 percent while, Nasdaq Composite Index reached 2,772, losing 9 points or 0.32 percent.