wichtig davon sind die oeko daten um 10.00am(us time)
und die bailouts fuer die car makers sind gestern eingepreist
Futures Tepid After Congress Unveils Auto Rescue Package
Stock futures were indicating a flat to slightly lower open Tuesday as investors worked through the Democrats' initial draft for bailout package for Detroit's major automakers which gave less than what the Big Three had asked originally for.
As of 6:45 a.m in New York, the Dow Jones Industrial Average futures were higher by 45 points to 8920, the S&P 500 futures were higher by 6 points to 910.70 and the Nasdaq 100 futures were higher by 11.50 points to 1223.50.
With fair value calculated into the futures, the Dow is expected to open lower by about 20 points.
House Democratic leaders unveiled a rescue package for the automakers Monday after the market close that would give Ford (F: 3.38, +0.66, +24.26%), General Motors (GM: 4.93, +0.85, +20.83%) and Chrysler a total combined loan of $15 billion. House Financial Services Committee Chairman Barney Frank said the $15 billion was as much as Congress could give without causing the White House to veto the package.
The $15 billion would come from the $25 billion previously allotted to the automakers for retooling of plants to make energy efficient cars and trucks and, if passed, could get the funds to the Big Three by Dec. 15. In exchange, the automakers would have to give similar concessions to the government that the financial industry did - limits on executive compensation, warrants and other government equity stakes in the companies and increased oversight.
However, the funds are less than what the automakers had previously asked for and considerably less than what some economists have publicly said the Big Three really need to survive. At last week's hearings, one economist from Moody's said the automakers could need something north of $125 billion in order to survive the economic downturn that the nation is in.
The $15 billion is to last the automakers through March, Congressional leaders said Monday - an indication that this issue will be revisited soon after President-elect Barack Obama is sworn in.
For earnings today, Wall Street gets the quarterly results of Kroger (KR: 27.31, -0.11, -0.40%) - the nation's largest grocery store chain - before the market opens today. Analysts are expecting Kroger to report earnings of 38 cents a share.
For economic data, investors will get existing pending home sales - a key indicator of the housing market - at 10 a.m. today. Economists interviewed by Thomson Reuters expect existing home sales fell in October by 3% from a year ago.
In the commodities markets, oil, after jumping more than 7% in Monday's trading, was down 30 cents to $43.41 a barrel in New York. Gold was higher by 60 cents to $769.90 an ounce.
On Monday, the Dow Jones Industrial Average jumped 298.76 points, or 3.46%, to 8934.18, the S&P 500 added 33.63 points, or 3.84%, to 909.70 and the Nasdaq Composite picked up 62.43 points, or 4.14%, to 1571.74. The consumer-friendly FOX 50 gained 26.95 points, or 3.91%, to 716.17.
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