US STOCKS-Futures signal weak start before factory data 04 Sep 2007 20:02
US STOCKS-Futures signal weak start before factory data 04 Sep 2007 20:02
(Updates with RIMM falling before the opening bell, adds background on September losses)
By Jennifer Coogan
NEW YORK, Sept 4 (Reuters) - U.S. stock index futures indicated a weaker open on Wall Street on Tuesday before a key economic report forecast to show a dip in manufacturing activity last month.
Investors returned from the Labor Day holiday to the first trading day of September, marking the unofficial end of summer and the start of an historically negative month for stocks.
Shares of Research in Motion Ltd. <RIM.TO> <RIMM.O> fell before the opening bell on Tuesday after Bear Stearns cut its rating on the maker of the Blackberry device, according to theflyonthewall.com.
Research in Motion shares were down 2.2 percent to $83.50.
Stocks rebounded on Friday, bolstered by optimism about a White House-proposed mortgage assistance plan and Federal Reserve Chairman Ben Bernanke's assurance the central bank will take the necessary steps to shelter the economy from turmoil in financial markets.
The Institute for Supply Management is set to report the August reading of its manufacturing index at 10 a.m. (1400 GMT). Economists forecast a dip in the indicator to 53 last month from 53.8 in July.
U.S. construction spending and auto sales data are also scheduled for Tuesday.
"We're looking at a lower opening. We're really going to be scrutinizing the economic numbers," said Peter Cardillo, chief market economist at Avalon Partners in New York. "If we saw real weakness in the ISM or car sales, that would stir up the debate over how big a Fed interest rate cut we get."
S&P 500 futures <SPc1> were down 3.4 points, below fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
Dow Jones industrial average futures <DJc1> fell 24 points, and Nasdaq 100 <NDc1> futures fell 3.75 points.
September's stock trading, going back to 1980, has seen more declines than rises, with the market dropping 15 times versus 12 gains.
The average September return for the S&P 500 index has been a drop of 0.95 percent. Figures are price returns on the index and do not include dividend returns.
Shares of Eli Lilly and Co <LLY.N> could benefit after researchers said its experimental schizophrenia treatment appeared to work safely in patients without some of the side effects of older drugs. For details, see [ID:nN03332790].
Dow component Merck & Co <MRK.N> will also likely be in the spotlight after researchers said on Sunday that the pharmaceutical company's combination pill to raise HDL cholesterol without a common side effect, met its main goals in a late-stage test [ID:nL02526509]. ((Reporting by Jennifer Coogan
Editing by Kenneth Barry
rm://jennifer.coogan.reuters.com@reuters.net
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姬春纪
RPT - TABLE-U.S. ISM index 52.9 in Aug versus 53.8 in July 04 Sep 2007 22:03
RPT - TABLE-U.S. ISM index 52.9 in Aug versus 53.8 in July 04 Sep 2007 22:03
Sept 4 - The Institute for Supply Management on Tuesday
reported its monthly indexes of manufacturing activity for
August.
A listing of the main ISM components follows:
Aug July June May April March Feb
PMI 52.9 53.8 56.0 55.0 54.7 50.9 52.3
New Orders 55.3 57.5 60.3 59.6 58.5 51.6 54.9
Production 56.1 55.6 62.9 58.3 57.3 53.0 54.1
Employment 51.3 50.2 51.1 51.9 53.1 48.7 51.1
Supplier Delvs 50.0 52.0 49.7 50.3 50.2 51.3 50.8
Inventories 45.4 48.5 45.3 46.1 46.3 47.5 44.6
Prices 63.0 65.0 68.0 71.0 73.0 65.5 59.0
Backlog Ords 50.5 52.0 53.5 52.5 54.5 47.0 51.5
Export Orders 57.0 56.5 56.0 59.0 57.0 55.5 54.0
Imports 52.5 54.5 54.5 57.5 58.0 57.5 61.5
FORECAST:
Reuters' survey of economists expected a median reading of
53.0 in August versus a July reading of 53.8.
THE SURVEY:
The Manufacturing ISM Report On Business is based on data
provided monthly by purchasing executives at over 350
industrial companies. It reflects changes in the current month
compared with the previous month. Responses are raw data.
FULL TEXT:
Reuters Terminal users should click on <USLD21> for the
text of the Institute for Supply Management's Purchasing
Managers Survey. It can be found on the Internet at the
following address: http://www.ism.ws
((U.S. Treasury desk; Tel: + 1 646 223 6300))
Keywords: USA ECONOMY/ISM