US STOCKS-Futures down on weak commodities, on quarterly results PDF Print E-mail
Friday, 20 November 2009 07:49

* Dell shares fall after Q3 sales miss view

* Crude oil drops as U.S. dollar rises

* D.R. Horton posts Q4 loss, conditions ‘challenging’

* Futures down: S&P 8.2 pts, Dow 80 pts, Nasdaq 10.25 pts

* For up-to-the-minute market news, click [STXNEWS/US]

(Recasts byline, adds quarterly results and quote)

By Ryan Vlastelica

NEW YORK, Nov 20 (Reuters) – U.S. stock index futures fell
on Friday, as a stronger U.S. dollar weighed on commodities and
natural resource stocks and weak results from computer maker
Dell and homebuilder D.R. Horton underscored the rocky road to
an economic recovery.

Dell Inc (DELL.O) shares fell 6.4 percent to $14.86 in
premarket trading, a day after the No. 3 personal computer
maker reported third-quarter sales that missed estimates.
[ID:nN19191886]

December crude futures sank 1.3 percent, extending a fall
in the previous session as the U.S. dollar rose against a
basket of currencies. The dollar index was up 0.7 percent.
[ID:nSP361511]

“Everyone is looking at the dollar right now,” said Kim
Caughey, senior equity research analyst at Fort Pitt Capital
Group in Pittsburgh.

“Low interest rates are supposed to make investors want to
take risks, but that’s not happening. People remain very
nervous about the economy and especially about the consumer.

Investors are watching the technology sector, which is
often viewed as one of the first to recovery from a recession.

“Dell’s sales increase concerns about the consumer,”
Caughey said. “People are looking to see where consumers are
spending, and they’re not spending on Dell. That’s weighing on
the market.”

D.R. Horton Inc (DHI.N) reported a fourth-quarter loss that
was wider than expected and said market conditions for
homebuilders was “still challenging.” [ID:nWNAB8435]

S&P 500 futures SPc1 fell 8.2 points and were below fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures DJc1 dropped
80 points, and Nasdaq 100 futures NDc1 slid 10.25 points.  Continued…

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US STOCKS-Futures down on weak commodities, on quarterly results

 

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