Stock Futures Fall on Japan Stimulus Unchanged
NEW YORK ( TheStreet) --- Stock futures were pointing to a lower open on Wall Street, signaling that the S&P 500 would slip for a second day as Treasury yields spiked and the Bank of Japan stopped short of increasing its stimulus program, disappointing investors eager for more action to stabilize global bond markets.
"A minority of investors had positioned in advance for an expansion of the
Futures for the S&P 500 were falling 15.75 points, or 15.66 points below fair value, to 1,626.25.
Brian Amidei, managing director and partner at HighTower Palm Desert in southern California said he market volatility will finally start to pick up in June as investors continue to receive conflicting economic data reported over the next few weeks.
" When you look at all of the data collectively it does not tell you anything significant about the direction of the economy or the Fed," he explained. " The good news, in our opinion, is that with slower than expected economic growth that will be good for the equity markets for a number of obvious reasons. The Fed will certainly need to change its stance on monetary policy but we just do not see that as happening until years end."
Day's departure follows the company's move earlier this month to restock shelves with its black luon yoga pants after it was forced to pull the popular pants in March following complaints they were too sheer.
The chipmaker said Monday it now expects to earn between 39 and 43 cents a share in the second quarter ending June 30 on revenue of $2.99 billion to $3.11 billion. Texas Instruments forecast in April net income of 37 to 45 cents a share and revenue of $2.93 billion to $3.17 billion.
Shares of the social networking giant got a boost Monday after analysts gave the company a ratings lift.
Futures for the Dow Jones Industrial Average were declining 122 points, or 124.59 points below fair value, to 15,106. Futures for the Nasdaq were slumping 28.25 points, or 30.79 points below fair value, to 2,958.75.