U.S. Market Points To A Flat Opening; Fed¡¯s Monetary Policy In Focus

The U.S. stock futures traded in a flat note amidst encouraging economic-sentiment data from Germany and ahead of the U.S. Federal Reserve's announcement on monetary policy. The U.S. market is expected to trade in a volatile note today.

In the U.S. economic calendar today, data on November retail sales is due at 8:30 a.m. Eastern time. Data on October business inventories as well as job opening and labor turnover will be released at 10 a.m. EDT.

Ahead of the opening bell, the Dow Jones industrial average futures were trading higher by 0.59 percent, or 71 points to 12,082. The Nasdaq Futures were trading higher by 0.63 percent, or 14.50 points to 2,308.50. Standard and Poor's 500 futures were trading lower by 0.67 percent, or 8.30 points to 1,235.50, today.

Hot Stocks of the Day: MDT, FST, FDS, PTRY, BBY

Medtronic Inc. (NYSE: MDT) agreed to pay $23.5 million to settle a Justice Department investigation of four post-market studies. The federal agency had alleged that the company violated the False Claim Act by using payments related to the post-market studies and device registries as kickbacks to induce physicians to implant its pacemakers and defibrillators.

Forest Oil Corp. (NYSE: FST) said it's budgeted $550 million to $600 million for capital projects next year, including $480 million to $520 million for exploration and development, primarily in the Texas Panhandle as well as in the eastern part of the state and northern Louisiana. The company also projected annual organic growth of 5 percent to 6 percent for net sales volumes next year as well as a 10 percent increase in net liquids sales volumes from estimated 2011 levels.

FactSet Research Systems Inc. (NYSE: FDS) reported net income of 45.5 million in its fiscal 2012 first quarter, as compared to $41.6 million a year ago. Diluted earnings per share increased to $0.99, up from $0.88 in the same period of fiscal 2011. Analysts had estimated a net profit o! f $0.99 per share for the company. Its total revenues increased to $196.4 million, up 13 percent compared to the prior year.

Pantry Inc. (Nasdaq: PTRY) announced that its net income was $3.3 million or $0.15 per share in its FY2011 Q4. This compares to net income of $8.5 million or $0.38 per share in last year's fourth quarter. Analysts had estimated a net profit of $0.59 per share for the company.

Best Buy Co. Inc.

(NYSE: BBY) reported net earnings of $154 million, or $0.42 per diluted share in its FY2011 Q3 compared with $217 million, or $0.54 per diluted share, for the prior-year period. Analysts had estimated a net profit of $0.51 per share for the company. Total company revenue was $12.1 billion during the fiscal third quarter, an increase of 1.7 percent compared to the prior-year period and included a comparable store sales gain of 0.3 percent.

Global Markets:

The global markets shifted slightly higher on Tuesday after the ZEW economic sentiment indicator for Germany improved in December, halting a nine-month downtrend. In Europe, Germany's DAX was up by 0.75 percent or 43.77 points to trade at 5,829.17. France's CAC40 added 0.19 percent or 5.92 points to 3,094.52. Great Britain's FTSE 100 was up 0.66 percent or 35.54 points to 5,462.52.

In the Asian market, China's Shanghai Composite closed lower by 1.87 percent, or 42.95 points to 2,248.59. Hong Kong's Hang Seng fell 0.69 percent or 128.49 points to 18,447.17. Japan's Nikkei 225 was down 1.17 percent or 101.01 points to close trading at 8,552.81. However, India's BSE 30 Sensex added 0.83 percent, or 132.16 points to close at 16,002.51.

Market Scan:

Ahead of the opening bell, crude oil was trading higher by 0.57 percent at $98.33 per barrel. Gold was down 0.07 percent at $1,663 per ounce.

In the currency market, the euro was trading higher by 0.18 percent against the U.S. dollar, and the Bri! tish pou nd was up 0.09 percent against the dollar. The dollar was down 0.19 percent against the Japanese yen.

On Monday, Wall Street closed on a negative note. The Dow Jones industrial average fell 1.28 percent or 162.72 points to close at 12,021.54. The Standard & Poor's 500 index was down 1.49 percent or 18.70 points to close at 1,236.48. The Nasdaq Stock Market Inc. composite index lost 1.31 percent or 34.59 points to close at 2,612.26.

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