Reuters
Published Oct 21, 2009 07:55AM ET
* Boeing slides after results
* Yahoo, Eli Lilly post solid earnings
* Futures down: Dow 70 pts, S&P 500 6.6, Nasdaq 10.50
* For up-to-the-minute market news, click [STXNEWS/US] (Adds Boeing earnings)
NEW YORK, Oct 21 (Reuters) - U.S. stock index futures fell on Wednesday after Boeing reported disappointing quarterly results and on growing concern that a market pullback looms.
Dow component Boeing Co
Yahoo Inc
Drugmaker Eli Lilly and Co
"We are getting a much better earnings reporting season than we've anticipated, both in the top and bottom line," said Arthur Hogan, chief market analyst at Jefferies & Co in Boston.
"The market looks like it may trade down at the open for no other reason than the fact that we have some concern about getting to a place too far, too fast, and there is not much more to it than that."
The S&P 500 has risen more than 61 percent since hitting 12-year lows in March as economic data has suggested the economy is recovering.
S&P 500 futures SPc1 fell 6.6 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures DJc1 lost 70 points, while Nasdaq futures NDc1 slid 10.50 points.
Altria Group Inc
KeyCorp
The latest round of expected earnings include results from
Morgan Stanley
Economic data includes the U.S. Federal Reserve's Beige Book on regional economic activities at 2 p.m. EDT [1600 GMT].
U.S. stocks retreated from 12-month highs on Tuesday as
disappointing housing and inflation data prompted investors to
book recent gains despite strong results from bellwethers
including Apple Inc
(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.