With little data or company earnings scheduled for today, stock futures are falling slightly as markets await Janet Yellen's hearings tomorrow.
The NFIB's Small Business Optimism Index unexpectedly dropped last month to 91.6 from 93.9 in September. The government shutdown and the botched launch of the Affordable Care Act's health-care exchanges were cited as negative factors in the report.
Before the opening bell today, index futures retreated slightly. Dow
(INDEXDJX:.DJI) futures were down 0.08% at 15,711 and contracts on the S&P 500
(INDEXSP:.INX) fell 0.17% to 1,764.60. Nasdaq
(INDEXNASDAQ:.IXIC) futures declined 0.016% to 3,349.00.
China just concluded its major reform meeting. The ruling party vowed to give markets a more prominent role in the economy. After three decades of fast export-oriented growth, China is likely to further liberalize its economy to transition to its next stage of growth.
The New York Times
(NYSE:NYT) will host its annual DealBook conference today. Among the notable speakers is Tesla Motors
(NASDAQ:TSLA) CEO Elon Musk.
Shares of T-Mobile US Inc
(NYSE:TMUS) dropped 2.6% today after it was announced that the mobile carrier will make a new public share offering. The company plans to raise nearly $2 billion from 66.15 million shares. It hopes to use the cash to expand its 4G network by buying up spectrum.
(NASDAQ:NWSA), which owns the Wall Street Journal
, saw revenue fall by 3% in the first quarter that it separated from Twenty-First Century Fox
(NASDAQ:FOX). Earnings per share were $0.03, missing analysts' projections.
Last August's legal battle between Apple
(NASDAQ:AAPL) and Samsung
(OTCMKTS:SSNLF) will continue. The two are back in court to decide how much Samsung needs to pay. The judge initially awarded Apple just over $1 billion, but it wasn't clear how the court arrived at that number.
No positions in stocks mentioned.
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