Russell 2000 futures lowerThe Russell 2000 (NYSE: IWM) futures are pointing lower and the small-cap index is poised for a decline. Small-cap stocks are headed for a bearish opening at the start of a week that will see a number of important economic releases, as well as the U.S. Federal Reserve’s decision on interest rates, which will be announced at the conclusion of a two-day meeting on Wednesday. The only thing on the docket is a report on new homes sales for December. The U.S. Census Bureau will release the numbers at 10 a.m. ET, with economists expecting to see a decline. Concerns about the U.S. economy are dominant this morning, with fast food chain operator McDonald’s Corp. (NYSE: MCD) reporting that sales at restaurants open at least 13 months were unchanged in December, while analysts were expecting a rise. Similarly, Towson, Md.-based power tool maker The Black & Decker Corp. (NYSE: BDK) forecasted that its first-quarter profit will disappoint analysts.
Russell 2000 still sagging
The Russell 2000 small cap index has remained below the flat line this afternoon. At 2:38 p.m. ET the Russell 2000 had lost 1.08 points, or 0.13%, to 852.33. The Dow Jones Industrial Average was down 16.58 points, or 0.12%, to 13,651.53.
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Shares of GSI Group, Inc. (Nasdaq: GSIG) are trading lower following news after the opening bell that the Billerica, Mass.-based supplier of precision technology components has purchased British beryllium mirrors maker Thales Optronics for an undisclosed amount. Additional information was not released. spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer
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