Filed under: Before the bell, Earnings reports, Exxon Mobil (XOM), Citigroup Inc. (C), Novell Inc (NOVL), Merck and Co (MRK), Economic data, Honeywell Intl (HON), Housing, Federal Reserve

Stock futures were lower this morning, pointing to a similar start for U.S. stocks. Investors are eying Citi’s decision to move some $49 billion of SIV assets onto its balance sheet, while awaiting consumer prices to be released an hour before the opening bell.

Yesterday, U.S. stocks closed mixed. Renewed inflation worries as the PPI climbed 3.2% in November put pressure on stocks, but better-than-expected retail sales and a good earnings forecast from industrial Honeywell International (NYSE: HON) helped lift ’s earnings forecasts helping lift sentiment. The Dow ended up 41 points, or 0.33%, the S&P 500 added 1.8 points, or 0.12%, while the Nasdaq Composite Index ended the day down 2.6 points, or 0.1%.

Today, prices at the consumer level will be reported at 8:30 a.m. EST. CPI, a closely watched inflation gauge, is expected to have risen 0.6% in November, after a 0.3% climb in October. Core CPI, which strips the volatile food and energy costs, is estimated to have risen 0.2% in November, same as the month before.
Also being released today just before the opening bell is November industrial production and capacity utilization.

Continue reading Before the bell: Futures lower ahead of CPI; Citi, Novell in focus

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This entry was posted on Friday, December 14th, 2007 at 1:57 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.