Netflix (NASDAQ:NFLX) is expected to give the teach-heavy Nasdaq a positive start after increasing subscribers at a faster pace than expected in the first quarter. Broader markets are expected to open slightly lower following S&P’s downgrade of Greek debt.
Panera Bread Company (NASDAQ:PNRA) shares gained 11% in late trading after increasing its stock buyback to $750m, financed by $500m in new debt. Panera’s debt issuance to finance its share buyback is another example of how the underlying support for US stocks is still zero percent interest rates, which Fed officials have said likely won’t go much higher anytime soon because of the poor data.
It was industrial production data released on Tuesday that was the latest to come in way below expectations. The Fed’s beige book indicated strength in the US housing market as a highlight and housing starts are expected to pick up to 1.04M in March, while building permits and unemployment claims are expected to stat roughly level.
Earnings are expected from Citigroup (NYSE:C), BlackRock Inc (NYSE:BLK), The Blackstone Group LP (NYSE:BX), Mattel Inc (NASDAQ:MAT), American Express Company (NYSE:AXP) and Goldman Sachs on Thursday.
Futures suggest the:
S&P 500 will open 1 points lower at 2,105 with the
Dow Jones expected to open 17 points lower at 18,095 and the
Nasdaq 100 5 points higher at 4,429.
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