Stock Future Down Ahead of FOMC Decision. World markets are relatively flat ahead of the FOMC meeting. On Friday a very disappointing jobs report was released showing only 96,000 new jobs were created in August and even more people stopped looking for work. To put it in prospective for every one job created 4 people left the workforce. Economics had estimated that 140,000 were created in August. A number of over 300,000 new jobs need to be created to bring down the unemployment rate. Wall Street analysts are looking for the Federal Reserve policy makers to announce new plans to stimulate a sluggish U.S. economy after their FOMC meeting on Thursday.
Kraft Foods (KFT): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $42.00 to $44.00. Pre-market: 40.35 +0.36 (0.90%)
PNC (PNC): Oppenheimer raised their rating from Perform to Outperform and placed a target price of $75.00 on the company. Pre-market: 64.10 +0.30 (0.47%)
Sprint Nextel (S): Nomura raised their rating from Neutral to Buy and placed a target price of $7.00 on the company.
Regions Financial (RF): Goldman Sachs raised their rating from Buy to Conviction Buy. Pre-market: 7.51 +0.14 (1.90%)
Moody’s Corp (MCO): Lazard raised their rating from Neutral to Buy and placed a target price of $52.00 on the company.
Fifth Third (FITB): Oppenheimer raised their rating from Outperform to Perform and placed a target price of $17.00 on the company. Pre-market: 15.23 -0.08 (-0.52%)
Seagate Technology (STX): Argus lowered their rating from Buy to Hold. Pre-market: 30.50 -0.10 (-0.33%)
State Street (STT): Raymond James lowered their rating from Outperform to Market Perform. Pre-market: 42.80 -0.20 (-0.47%)
Bank of New York Mellon (BK): Raymond James lowered their rating from Strong Buy to Outperform and maintained their target price of $26.00. Pre-market: 22.74 -0.18 (-0.79%)
Wells Fargo (WFC): Goldman Sachs lowered their rating from Conviction Buy to Buy. Pre-market: 34.82 -0.18 (-0.51%)
Tyco International (TYC): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $60.00 to $58.00.
Celgene (CELG): UBS lowered their rating from Buy to Neutral and lowered their target price from $80.00 to $78.00.
Sealed Air (SEE): JPMorgan initiated coverage with an Overweight rating and placed a target price of $19.00 on the company.
Futures at 8:15: Dow . S&P . Nasdaq . Crude -0.28% at $96.13. Gold to $1733.70.
Europe: London +0.01%. Paris . Frankfurt -0.06%.
Asia: Japan -0.03% at 8869. Hong
19827. China to 2138.