{"id":401677,"date":"2011-04-27T11:01:55","date_gmt":"2011-04-27T11:01:55","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/27\/stocks-all-eyes-on-bernanke\/"},"modified":"2011-04-27T11:01:55","modified_gmt":"2011-04-27T11:01:55","slug":"stocks-all-eyes-on-bernanke","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/27\/stocks-all-eyes-on-bernanke\/","title":{"rendered":"STOCKS: ALL EYES ON BERNANKE"},"content":{"rendered":"
\n

\"chart_ws_index_sp500futures.top.png\"<\/a>Click the chart for more market data.<\/strong><\/span> By CNNMoney.com staff<\/span>April 27, 2011: 6:55 AM ET<\/span><\/p>\n

NEW YORK\u00a0(CNNMoney) — U.S. stocks were headed for early gains Wednesday, as investors sort through the latest corporate results ahead of a highly anticipated press conference at the Federal Reserve.<\/p>\n

Dow Jones industrial average (INDU<\/a>), S&P 500 (SPX<\/a>) and Nasdaq (COMP<\/a>) futures were higher ahead of the opening bell. Futures measure current index values against perceived future performance.<\/p>\n

U.S. stocks finished at their highest levels in three years<\/a> Tuesday, as investors cheered another batch of solid earnings and a better-than-expected report on consumer confidence.<\/p>\n

Economy:<\/strong><\/a> Investors will turn their attention to tight-lipped Federal Reserve Chairman Ben Bernanke’s first of what will become four regular press conferences a year<\/a>.<\/p>\n

In the past, Bernanke has rarely taken journalists’ questions publicly. The speech and question-and-answer session will follow the Fed’s two-day meeting on monetary policy.<\/p>\n

Reports on durable orders are also out on Wednesday. Economists surveyed by Briefing.com expect an increase of 1.8% in March.<\/p>\n

Companies<\/strong><\/a>: Johnson & Johnson (JNJ<\/a>, Fortune 500<\/a>) said it will buy Synthes, a Swiss maker of orthopedic devices, for $21.3 billion.<\/p>\n

BP (BP<\/a>) reported first-quarter earnings of $1.75 per U.S.-listed share, down from $1.79 per share in the year-ago quarter. Analysts were expecting $1.82 per share, according to Thomson Reuters.<\/p>\n

Amazon.com (AMZN<\/a>, Fortune 500<\/a>)’s stock fell 2% in premarket trading after the online merchant reported first-quarter earnings<\/a> that fell by one-third compared to a year earlier and sharply missed Wall Street forecasts.<\/p>\n

Boeing (BA<\/a>, Fortune 500<\/a>) is expected to report earnings of 70 cents a share later Wednesday.<\/p>\n

After the close, Starbucks (SBUX<\/a>, Fortune 500<\/a>) reports results. The coffee retailer is expected to earn 34 cents a share.<\/p>\n

World markets:<\/strong><\/a> European stocks higher in middauy trading. The DAX in Germany was up 0.7% and France’s CAC 40 rose 0.5%, while Britain’s FTSE 100 was flat.<\/p>\n

Asian markets ended mixed. The Shanghai Composite and the Hang Seng in Hong Kong both fell about 0.5%, while Japan’s Nikkei rallied 1.4%.<\/p>\n

Standard & Poor’s warned that Japan’s government could face a downgrade of its credit rating within the next few years as the nation’s economy recovers from the March 11 earthquake and tsunami.<\/p>\n

S&P lowered its outlook on Japan’s long-term debt to “negative” from “stable,” saying the government will likely bear most of the cost of rebuilding. The ongoing struggle to contain a damaged nuclear power plant in Japan makes the outlook even more uncertain, the agency said.<\/p>\n

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

Oil for May delivery gained 44 cents to $112.66 a barrel.<\/p>\n

Gold futures for June delivery rose $3.10 to $1506.70 an ounce.<\/p>\n

Bonds<\/strong><\/a>:<\/strong> The price on the benchmark 10-year U.S. Treasury held steady, with the yield unchanged from Tuesday at 3.32%.\u00a0\"To<\/a><\/p>\n<\/div>\n

<\/p>\n

See the original post here:
\nSTOCKS: ALL EYES ON BERNANKE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Click the chart for more market data. 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