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Wednesday, 25 January 2012

US pre-open: Stocks to start mixed

Posted by news

OECD's Gurria says ECB should take loss on Greek debt.
-Deutsche Bank executive says Eurobonds is only way out.
-Obama makes populist push in State of the Union address, WSJ says.

The main US equity indexes are now being called to open 'mixed', with a strong 1% rise seen in the Nasdaq-100 but small falls in the Dow Jones Industrial and the S&P 500.

That following better than expected results out from technology heavyweight Apple after yesterday's close as well as those from other heavyweights, such as Boeing.

On the other side of the ledger, the latest results out from the likes of AMD and Yahoo have come in weaker than expected.

Illumina is rocketing 40% higher after receiving a $5.7bn buy-out bid from Swiss pharmaceutical giant Roche.

As the World Economic Forum's annual meeting begins today in Switzerland and Federal Reserve policy makers convene in Washington, 48 percent of respondents predict the U.S. will be among the world's best-performing markets this year, according to the quarterly poll of 1,209 investors, analysts and traders who are Bloomberg subscribers that was conducted Jan. 23-24. That's the highest rating for the U.S. since the poll began in 2009 and it's more than twice that of Brazil and China, the second-ranked markets.

Much commented, in his State of the Union address last night President Obama called on Congress to raise taxes on those making $1m or more to at least 30%.


MACROECONOMY

Pending home sales data for December is expected to be released at 3pm.

FOMC announcement expected at 19:15pm.

OTHER MARKETS

10 year US treasuries are now up by 4/32 dollars, with yields at 2.05%.

Front month West Texas crude futures are now down by 0.98% to the $97.98/barrel level on NYMEX.

AB

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