Investors are ringing in the new trading week on a sour note as the congressional "super-committee" in charge of lowering the deficit is expected to condede defeat, reignited the debate over taxing and spending, and opening the door for another US downgrade.
In overseas trading, Japan's Nikkei 225 Stock Average was lower by about a third of a percent, and the Hang Seng Index was higher by about 1.4 percent.
The FTSE 100 was was lower by almost 2.2 percent, and the German DAX was lower by 2.9 percent.
In the US, markets are sharply lower this morning.
Some key data due to be released this week includes GDP on Tuesday and initial claims on Wednesday.
On the earnings front, expect to hear from Books A Million and Chicos on Tuesdaym Read More
Lancaster Colony Corporation announced its quarterly dividend of 36 cents per share, an increase of about 9% over its prior dividend in September of 33 cents. The dividend will be payable December 30, 2011 to shareholders of record on December 9, 2011. The indicated annual payout for the current fiscal year ending June 30, 2012 is $1.41 per share, up nine percent from the $1.29 per share paid in fiscal 2011.
Shares are lower by about two percent.
In other dividend news, Precision Castparts Corporation
Research In Motion was downgraded today by JMP Securities. A Market Underperform rating was assigned with a $12 price target. Estimates were also cut, as the smartphone sector is experiencing increased competition.
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, the largest inflow was seen in the SPDR S&P Homebuilders ETF , which added 1.6 million shares, or a 3.5% increase week over week. Among the largest underlying components of XHB, in morning trading today Select Comfort Corporation is off about 2%, and Ryland Group is lower by about 0.9%.
And on a percentage change basis, the ETF with the largest increase in inflows was the WisdomTree Dreyfus Japanese Yen Fund , which added 200,000 shares, for a 50.0% increase in outstanding shares.
Turning today to week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, the largest outflow was seen in the iShares MSCI EAFE Index Fund , which shed 4.2 million shares, or a 0.6% decrease week over week. Among the largest underlying components of EFA, in morning trading today National Bank Greece is up about 0.2%.
And on a percentage change basis, the ETF with the largest outflow was the iShares Dow Jones US Broker-Dealers Index Fund , which lost 450,000 of its shares, for a 15.3% decline in outstanding shares. Among the largest underlying components of IAI, in morning trading today Goldman SachsRead More
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