The S&P 500 Futures are little changed after they charged higher yesterday, led by technology shares.
Later today, the U.S. Labor Department will release September CPI (+1.4% on year expected).
European indices are under pressure. ZEW survey results of October were released for Germany (current situation at -59.5 vs -60.0, expectations at 56.1 vs 72.0 expected). The German Federal Statistical Office has posted final readings of September CPI at -0.2% on year, as expected. The U.K. Office for National Statistics has reported jobless rate for the three months to August at 4.5% (vs 4.3% expected).
Asian indices closed on the upside except the Chinese CSI. Chinese September Balance of Trades was released at 37 billion dollars surplus, below 60 billion dollars expected.
WTI Crude Oil futures are rebounding. Sharara, the biggest oil field in Libya, will resume its oil production, according to the National oil Corp., Libya's state energy company.
Gold lost some ground as dollar bounced back on moves from Beijing to curb the yuan's recent rise.
Gold fell 1.81 dollar (-0.09%) to 1920.96 dollars.
The dollar index gained 0.11pt to 93.176.
U.S. Equity Snapshot
Johnson & Johnson (JNJ), the health care products company, has "temporarily paused further dosing in all its COVID-19 vaccine candidate clinical trials, including the Phase 3 ENSEMBLE trial, due to an unexplained illness in a study participant." Separately, the company reported third quarter earnings that beat estimates and raised its full-year sales and adjusted EPS guidance.
JPMorgan (JPM), the banking group, unveiled third quarter sales down 0.4% to 29.94 billion dollars, above estimates. Provision for credit losses decreased 60% to 611 million dollars, beating expectations. EPS was up to 2.92 dollars from 2.68 dollars a year earlier.
Source: TradingView, GAIN Capital
Walt Disney (DIS) soared after hours after announcing "a strategic reorganization of its media and entertainment businesses. Under the new structure, Disney’s creative engines will focus on developing and producing original content for the Company’s streaming services, as well as for legacy platforms, while distribution and commercialization activities will be centralized into a single, global Media and Entertainment Distribution organization."
Blackrock (BLK), an investment management firm, posted third quarter adjusted EPS up to 9.22 dollars from 7.15 dollars a year ago, on sales up to 4.37 billion dollars from 3.69 billion dollars a year earlier. Both figures beat estimates.
Tesla (TSLA), the electric-vehicle maker, cut 2 Model S cars prices in China by 23,000 yuan each.
Exxon Mobil (XOM), an oil and gas company, was upgraded to "neutral" from "sell" at Goldman Sachs.
Beyond Meat (BYND), a producer of plant-based meat substitutes, was downgraded to "underperform" from "market perform" at Bernstein.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.