{"id":280459,"date":"2011-02-24T11:26:31","date_gmt":"2011-02-24T11:26:31","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/"},"modified":"2011-02-24T11:26:31","modified_gmt":"2011-02-24T11:26:31","slug":"stocks-set-to-fall-as-oil-hovers-at-100","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/","title":{"rendered":"Stocks set to fall as oil hovers at $100"},"content":{"rendered":"

\"premarkets\"<\/a>Click on chart for more premarket data<\/b><\/span>
\nBy CNNMoney staff<\/span>February 24, 2011: 6:32 AM ET<\/span>
<\/p>\n

NEW YORK\u00a0(CNNMoney) — U.S. stocks were set to fall at the open, as crude oil prices hover at $100 a barrel and investors continue to keep a wary eye on ongoing political tensions in Libya. Economic reports on tap for Thursday include jobless claims, new home sales and corporate earnings from GM and AIG.<\/p>\n

<\/p>\n

Stocks declined for a second straight session<\/a> Wednesday, as oil prices surged to briefly cross the $100 per barrel mark amid mounting turmoil in the North African country — the first exporting nation to be affected by the unrest sweeping across the Arab world.<\/p>\n

The Dow Jones industrial average (INDU<\/a>) fell 107 points, or 0.9%, a day after the blue-chip index plunged nearly 180 points. That was the first back-to-back triple-digit drop for the index since June.<\/p>\n

Sam Stovall, chief investment strategist at Standard & Poor’s Equity Research, wrote in a research note on Wednesday that the pullback won’t have a broad long-term impact.<\/p>\n

“A near-term decline in equity prices will end up on the order of a pullback or correction, but not a new bear market,” Stovall said.<\/p>\n

Economy:<\/b><\/a> Weekly initial jobless claims will be released at 8:30 a.m. ET, and are expected to be unchanged at 410,000. The number of people continuing to file unemployment claims for a second week or more is expected to dip slightly.<\/p>\n

The Census Department’s report on durable goods orders is due at the same time; orders are forecast to rise 2.7%, up from a revised 2.5% in December.<\/p>\n

The Commerce Department issues its new home sales report at 10 a.m. ET, which will be followed by a report on crude oil inventories.<\/p>\n

Companies<\/b><\/a>: General Motors Co. (GM<\/a>) will report their quarterly earnings Thursday morning. The auto giant is expected to report its first annual profit since 2004.<\/p>\n

Earnings from Target (TGT<\/a>, Fortune 500<\/a>) and department store Kohl’s (KSS<\/a>, Fortune 500<\/a>) are also due before the opening bell. Analysts are looking for Target to post a profit of $1.40 per share, according to Thomson Reuters. <\/p>\n

American International Group (AIG<\/a>, Fortune 500<\/a>) will report after the closing bell, and is expected to post a massive loss.<\/p>\n

World markets:<\/b><\/a> European stocks fell in morning trading. Britain’s FTSE 100 and France’s CAC 40 both slipped 0.3%, and the DAX in Germany tumbled 1.1%.<\/p>\n

Asian markets ended the session mixed. The Shanghai Composite rose 0.6%, while the Hang Seng in Hong Kong dipped 1.3% and Japan’s Nikkei fell 1.2%.<\/p>\n

Currencies<\/b><\/a> and commodities:<\/a><\/b> The dollar fell against the euro and Japanese yen, but gained slightly versus the British pound.<\/p>\n

Oil for April delivery gained $3.00 to $101.10 a barrel. <\/p>\n

Gold futures for April delivery rose $1.80 to $1415.80 an ounce. <\/p>\n

Bonds<\/b><\/a>:<\/b> The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.43% from 3.45% late Wednesday. \u00a0\"To<\/a><\/p>\n


\n<\/p>\n

First Published: February 24, 2011: 6:22 AM ET<\/p>\n

<\/div>\n<\/p>\n

<\/p>\n

Go here to read the rest:
\nStocks set to fall as oil hovers at $100<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Click on chart for more premarket data By CNNMoney staff February 24, 2011: 6:32 AM ET NEW YORK\u00a0(CNNMoney) — U.S. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-280459","post","type-post","status-publish","format-standard"],"yoast_head":"\nStocks set to fall as oil hovers at $100 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stocks set to fall as oil hovers at $100 - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Click on chart for more premarket data By CNNMoney staff February 24, 2011: 6:32 AM ET NEW YORK\u00a0(CNNMoney) -- U.S.\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/473b1ed80_630am.top_.png\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Stocks set to fall as oil hovers at $100\",\"datePublished\":\"2011-02-24T11:26:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/\"},\"wordCount\":517,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/473b1ed80_630am.top_.png\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/stocks-set-to-fall-as-oil-hovers-at-100\/\",\"name\":\"Stocks set to fall as oil hovers at $100 - 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Dow Jones industrial average (INDU<\/a>), S&P 500 (SPX<\/a>) and Nasdaq (COMP<\/a>) futures were lower ahead of the opening bell. Futures measure current index values against perceived future performance.<\/p>\n