EmailStocks began the day on a slightly higher note as yesterday's optimism regarding a fiscal cliff resolution lingered. However, the initial strength quickly faded, and the S&P 500 slipped below its flat line where it spent the remainder of the session. A recurring theme played out in Washington where lawmakers held another round of press conferences with both sides pushing back against the other. Most notably, Speaker Boehner said the House of Representatives will vote on his ‘plan B' tomorrow. The remarks kept the S&P 500 near its lows before a final round of selling dropped the benchmark index to a loss of 0.8%.
Today after the close the following companies are scheduled to report earnings: ACN, BBBY, MLHR, JBL, PAYX, SCS
Futures are higher after hours: S&P 500 futures are +0.50 from fair value of 1429.9 and Nasdaq100 futures are +4.85 from fair value of 2686.65.
Tomorrow morning before the open two economic report are scheduled to be released: 1) Initial Claims (Consensus 345k) and Continuing Claims (Consensus 3192k), and 2) GDP - Third Estimate (Consensus 2.7%) and GDP Deflator - Third Estimate (Consensus 2.7%).
Tomorrow before the open the following companies are scheduled to report earnings: AM, KMX, CCL, CAG, DRI, DFS, KBH, MCS, NEOG, RAD, SCHL, WGO
