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Thursday, June 05, 2008 --- 128 days ago http://www.bloggingstocks.com/2008/06/05/before-the-bell-futures-up-on-oil-veriz
 Filed under: Before the bell , Deals , Wal-Mart (WMT) , Market matters , Costco Wholesale (COST) , Verizon Communications (VZ) , Economic data , Oil With oil sliding further, U.S. stock futures were mildly higher as investors also contemplated Verizon's potential bid for Alltel and awaited major retailers results. On Wednesday, U.S. stocks were mixed on a bag of mixed news. Despite Moody's threatening to downgrade bond insurers, there was positive data from the service sector and oil kept its recent lower prices. The Dow industrials fell 12 points, or 0.10%, the S&P 500 was essentially flat with half a point decline, or 0.03%, and the Nasdaq composite actually ended 22 points, or 0.91%, higher. Not much economic data is due today, except for the weekly initial jobless claims, but major retailers will report individual sales and comparative sales. Many investors will look to the report to get an indications of the state of the American consumer. Meanwhile, oil dipped below $122 a barrel overnight and is holding above $122 now . And as Europe also grapples with high oil prices, inflationary pressures and slowing growth, the Bank of England has already announced it's holding rates steady and Europe's Central Bank is also expected to do the same. In corporate news, the major news comes from Verizon Wireless, jointly owned by Verizon Communications (NYSE: VZ) and Vodafone (NYSE: VOD). Verizon is apparently in talks to acquire rival Allt ... |
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