A Peek Into The Markets: US Stock Futures Up Ahead Of Morgan Stanley Earnings

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from Morgan Stanley MS. Data on housing starts for September, initial jobless claims for the latest week and the Philadelphia Fed manufacturing index for October will be released at 8:30 a.m. ET. Data on industrial production for September will be released at 9:15 a.m. ET. Federal Reserve Member of the Board of Governors Michelle Bowman is set to speak in Chicago, Illinois at 2:00 p.m. ET, while Chicago Federal Reserve Bank President Charles Evans will speak in Chicago, Illinois at 2:00 p.m. ET. New York Federal Reserve Bank President John Williams is set to speak in New York at 4:20 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 112 points to 27,052 while the Standard & Poor’s 500 index futures traded rose 12.6 points to 3,004.00. Futures for the Nasdaq 100 index surged 37.5 points to 7,986.00.

Oil prices traded lower as Brent crude futures fell 0.1% to trade at $59.39 per barrel, while US WTI crude futures fell 0.2% to trade at $53.23 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 11:00 a.m. ET, while the Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.

 

A Peek Into Global Markets


European markets were higher today, with the Spanish Ibex Index rising 0.9%, STOXX Europe 600 Index climbing 0.7% and German DAX 30 index gaining 1%. The UK's FTSE index was trading higher by 0.6%, while French CAC 40 Index rose 0.4%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.09%, Hong Kong’s Hang Seng Index gained 0.69%, China’s Shanghai Composite Index fell 0.05% and India’s BSE Sensex rose 0.24%.


Broker Recommendation

Analysts at Imperial Capital downgraded Extraction Oil & Gas XOG from Outperform to Underperform and lowered the price target from $7 to $2.

Extraction Oil shares fell 5.5% to close at $2.51 on Wednesday.


Breaking News

  • IBM IBM reported upbeat earnings for its third quarter, while sales missed estimates. The company reaffirmed 2019 guidance, but was below consensus estimates.
  • Signature Bank SBNY reported stronger-than-expected earnings for its third quarter.
  • CSX Corporation CSX reported stronger-than-expected earnings for its third quarter.
  • BB&T Corporation BBT reported stronger-than-expected earnings for its third quarter.
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Posted In: EarningsNewsEurozoneFuturesGlobalPre-Market OutlookMarketsA Peek Into The MarketsUS Stock Futures
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