Stocks Are Tumbling Across The World: Wal-Mart Sees Flat U.S. Sales, Euro-Area Manufacturing, Services Contraction Worsens, G20 & IMF Push for Global Fed, Global Currency, Is The Collapse About To Begin? Marc Faber: Global Stock Markets Are On Shaky Ground
February 21st, 2013
10 Things You Need To Know Before The Opening Bell
Markets sell-off across the world, Wal-Mart reports earnings
Asian markets sold off in overnight trading with the Shanghai Composite falling nearly 3 percent following a selloff in the resource sector on weaker commodity prices, and on concerns about liquidity in the market. Europe is getting slammed and U.S. futures are lower.
Euro area composite index of services and manufacturing PMI fell to 47.3 in February, from 48.6 the previous month. A reading below 50 indicates contraction. The 25 most miserable places in the world >
Initial claims climbed to 362K, above expectations of a rise to 355,000. Meanwhile, core consumer prices were up 0.3 percent, and headline CPI stayed flat. Flash PMI for February at 8:58 am ET. Consensus is for flash PMI to decline to 55.5. Follow the release at Business Insider >
Wal-Mart beat expectations when it reported earnings of $1.67 per share, above estimates of $1.57 per share. Revenue of $127.1 billion however came in shy of expectations. It also issued Q1 guidance of $1.11 to $1.16 per share, lower than consensus of $1.19.