EmailThe major market averages finished near their worst levels of the session, with all three losing close to 2.3%. Equities were knocked lower following this morning's disappointing data as both the ADP Employment report and ISM Index fell short of expectations. Selling continued over the course of the session with stocks moving to their worst levels of the day following a late downgrade of Greek debt by Moody's. The rating agency announced it was dropping the rating of Greek debt to Caa1 from B1, and assigned a negative outlook.
After the close, VNET, CEDU, CWTR, CPRT, ESL, XIDE, SNDA and VRA are the most notable names scheduled to report earnings results.
Futures are lower after hours: S&P 500 futures are -2.67 from fair value of
1313.47 and Nasdaq100 futures -5.61 from fair value of 2322.61.
Tomorrow morning before the open, two economic reports are scheduled to be
released: 1) Initial Claims (Consensus 413K) and Continuing Claims (Consensus
3688K) and 2) Productivity-Rev. (Consensus 1.6%) and Unit Labor Costs-Rev.
(Consensus 0.9%).
Tomorow, before the open, look for the following companies to report: APWR, TFM,
ISLE, CYBX, JOYG, UNFI, MPR, CHRS, UTIW, and MOV.
