Corporate Earnings Now Front And Center
Nicholas Santiago | Apr 18, 2013 03:28PM ET
This morning, the S&P 500 Index e-mini futures (ES-M3) are trading higher by 5.00 points to $1551.00 per contract. It seems that the roller coaster ride in the market ahead of this options expiration on Friday. The European markets are holding firm before the opening bell in the United States. Europe is certainly the wild card that could erupt at any moment and cause institutional selling. The other wild card for the stock market will be the corporate earnings picture. Many important companies such as Morgan Stanley (MS), Verizon Communications Inc. (VZ), and Freeport-McMoRan Copper & Gold Inc (FCX) have reported earnings earlier today so traders should expect volatility throughout the trading session.
Last night, the important Asian markets were mixed. The big winner in Asia last night was the Bombay Sensex Index (India) finishing higher by 1.52 percent. This tells us that the Indian related equities could be in play today if the U.S. markets hold up. Some leading Indian related stocks that could be in play today include Tata Motors Ltd. ADR (TTM), Infosys Ltd. ADR (INFY), Wipro Ltd. ADR (WIT), and India Fund Inc (IFN).
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