By Sara Sjolin, MarketWatch
Berkshire Hathaway slips after earnings
LONDON (MarketWatch) -- U.S. stock investors were hoping to kick
off March on an upbeat note on Monday, with futures edging higher
ahead of a raft of economic reports -- including consumer spending
and manufacturing numbers -- that will offer signs about the health
of the U.S. economy.
Investors were also taking inspiration from Asia, where markets
rose after a Chinese central-bank rate cut.
Futures for the Dow Jones Industrial Average (DJH5) added 8
points to 18,135, while those for the S&P 500 index (SPH5)
gained 0.90 point to 2,103.70. Futures for the Nasdaq-100 index
(NDH5) picked up 5.25 points, or 0.1%, to 4,447.75.
The small gains came after all three benchmarks on Friday closed
out February with solid gains
(http://www.marketwatch.com/story/us-stocks-wall-street-waits-for-gdp-sentiment-and-more-fed-speakers-2015-02-27)
after a month of more stable oil prices, a temporary solution to
Greece's debt woes and accommodative central-bank policies around
the world.
Data: There was no shortage of data set the tone for the new
month on Monday but icy weather in the Washington may delay
slightly
(http://www.marketwatch.com/story/federal-offices-to-open-late-but-data-on-time-2015-03-02)the
release of economic reports due out. Slate to be released at 8:30
a.m. Eastern time were the January personal income, consumer
spending and core inflation reports. Economists surveyed by
MarketWatch expect personal income to have risen by 0.4%, while
consumer spending is forecast to have slipped 0.1%. For core
inflation, the economists see a 0.1% month-on-month reading.
At 9:45 a.m. Eastern, the February Markit manufacturing
purchasing managers index was scheduled to be released , followed
by the ISM manufacturing index at 10 a.m. Eastern. Those
MarketWatch-polled economists forecast the ISM to have slipped back
to 52.8%, from 53.5% in January.
Construction spending, also was due at 10 a.m. Eastern, and is
expected to have climbed by 0.3% in January. Read: Economic preview
(http://www.marketwatch.com/storyno-meta-for-guid)
Earnings: Reporting ahead of the opening bell, Mylan Inc.(MYL)
is projected to report fourth-quarter earnings of $1.05 a share,
according to FactSet estimates.
Also reporting on Monday, Sotheby's(BID) is forecast to post
fourth-quarter earnings of $1.28 a share.
Weight-loss company Nutrisystem Inc.(NSI) is expected to post
fourth-quarter earnings of 16 cents a share.
Salix Pharmaceuticals Ltd.(SLXP) is projected to report a
quarterly loss of 24 cents a share.
Movers and shakers: Warren Buffett's Berkshire Hathaway
Inc.(BRKA) slipped 0.2% premarket after the Nebraska-based holding
company over the weekend posted lower earnings
(http://www.marketwatch.com/story/berkshire-hathaway-profit-shrinks-2015-02-28)
for the fourth quarter amid investment derivative gains of $192
million. Warren Buffett will answer questions submitted via
Twitter, Facebook and Instagram on CNBC from 6 a.m. to 9 a.m.
Eastern Time on Monday. Read: Two books Warren Buffett says you
should read
(http://www.marketwatch.com/story/two-books-warren-buffett-says-you-should-read-2015-02-28)
(http://www.marketwatch.com/story/two-books-warren-buffett-says-you-should-read-2015-02-28)Athersys
Inc.(ATHX) rallied 20% ahead of the bell after the biotech firm
said it has set up a license agreement with Chugai Pharmaceutical
Co. .
NXP Semiconductors NV(NXPI) jumped 9% premarket and Freescale
Semiconductor Ltd.(FSL) gained 5.2% after the two companies
announced a merger with that will create a $40 billion company
(http://www.marketwatch.com/story/nxp-freescale-agree-to-merge-2015-03-02).
Qualcomm Inc.(QCOM) eked out a 0.3% premarket gain after Samsung
Electronics Co. Ltd. on Sunday introduced its new flagship Galaxy
S6
(http://www.marketwatch.com/story/samsung-unveils-galaxy-s6-to-answer-iphone-6-2015-03-01-131032526)
smartphone, which contains self-developed processors rather than
chips from Qualcomm.
Shares of Lumber Liquidators Holdings Inc.(LL) fell 15% in
premarket action after the retailer of hardwood flooring was linked
to toxic chemicals on "60 Minutes"
(http://www.cbsnews.com/news/lumber-liquidators-linked-to-health-and-safety-violations/).
Goodrich Petroleum Corp.(GDP) gave up 6.3% after the oil and gas
producer said it has started a public offering of 12 million shares
to repay debt and for other purposes.
Actavis PLC (ACT) was also in focus ahead of the pharmaceutical
company's expected bond sale as early as this week. Actavis needs
the cash to pay for its $66 billion purchase of Botox-maker
Allergan Inc. (AGN).
Chinese rate-cut: In a surprise move, the People's Bank of China
on Saturday lowered the benchmark
(http://www.marketwatch.com/story/story?guid=%7BC27BAEEA-5F05-42CD-939E-3B9DA0B4A35E%7D)
one-year loan to 5.35% and the one-year deposit rate to 2.5%, both
cut by a quarter of a percentage point. The central bank signaled
in a statement that a looming threat of deflation was a trigger for
the rate cut. Asian markets closed mostly higher on Monday
(http://www.marketwatch.com/storyno-meta-for-guid).
Other markets: Oil prices (CLJ5) moved firmly lower
(http://www.marketwatch.com/story/oil-slides-after-posting-strong-february-gains-2015-03-02)
after posting strong gains in February. Gold (GCJ5) inched higher
(http://www.marketwatch.com/storyno-meta-for-guid), while the
dollar (DXY) traded mixed against other major currencies.
European stock markets were largely lower
(http://www.marketwatch.com/storyno-meta-for-guid), even as data
showed inflation rose to negative 0.3% in February from negative
0.6% in January, while the currency union's unemployment rate
dropped to the lowest since 2012
(http://www.marketwatch.com/story/eurozone-jobless-rate-falls-to-lowest-since-2012-2015-03-02).
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