Stocks tread water, await new data

Written By limadu on Kamis, 14 Februari 2013 | 17.42

U.S. stocks finished mixed Wednesday.

NEW YORK (CNNMoney)

Firms including PepsiCo (PEP, Fortune 500), DirecTV (DTV, Fortune 500) and General Motors (GM, Fortune 500) are set to report in the morning.

As of Wednesday, 65% of the companies in the S&P 500 that had reported fourth-quarter earnings came in ahead of analysts' expectations, according to S&P Capital IQ. But the bulk of companies that have issued guidance for the first quarter had a negative outlook.

U.S. stocks finished mixed Wednesday, struggling to find momentum to push on towards record highs. U.S. stock futures lacked direction ahead of the open.

CNNMoney's Fear & Greed Index is still in extreme-greed territory

Shares of US Airways (LCC, Fortune 500) and American Airlines parent AMR (AAMRQ, Fortune 500) could be hot Thursday after the boards at both companies agreed to a long-anticipated deal that could create the world's largest airline.

After the close on Wednesday, tech giant Cisco (CSCO, Fortune 500) reported earnings and sales that beat analyst expectations.

Shares of food producer Mondelez (MDLZ) sank after the firm reported earnings that missed expectations.

European markets drifted lower in morning trading, after weaker than expected GDP figures from Germany and France pointed to a deepening recession in the eurozone. Regional GDP data is due later Thursday.

Asian markets ended higher. Hong Kong's Hang Seng added 0.9% as traders returned from holiday.

The Nikkei added 0.5% despite data showing Japan's economy has contracted in each of the three most recent quarters. The weak performance is likely to increase the clamor for more aggressive fiscal and monetary stimulus measures.

The Shanghai exchange was closed for the Lunar New Year holiday. To top of page

First Published: February 14, 2013: 4:07 AM ET


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