Markets closed lower for a fourth consecutive session as a drop of 1.0% saw the Nasdaq pace the decline. Stocks shrugged off the disappointing import/export data from China and opened with solid gains after EU finance ministers announced a plan to expedite EUR30 billion for the recapitalization of Spanish banks. The major averages gave up those gains in the first hour of trading, and then dropped precipitously after engine maker Cummins lowered its full-year 2012 revenue outlook.
Today after the close the following companies reported earnings: ADTN, OCZ, VOXX
Futures are lower after hours: S&P 500 futures are -0.60 from fair value of 1336.30 and Nasdaq100 futures are -2.01 from fair value of 2579.51.
Tomorrow morning before the open, two economic reports are scheduled to be released: 1) MBA Mortgage Index, 2) Trade Balance (Consensus -48.9B).
Tomorrow before the open look for the following companies to report: DRWI, MAR, TXI






