Market Overview

US Stock Futures Flat Ahead Of Wells Fargo Earnings, Trade Data

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US stock futures are mostly flat this morning, as investors are awaiting earnings from Wells Fargo & Company (NYSE: WFC). Futures for the Dow Jones Industrial Average dropped 9 points to 13,397.00 and S&P 500 index futures fell 0.60 points to 1,466.50. Nasdaq 100 futures rose 0.25 points to 2,737.25.

US stocks closed higher on Thursday, with the Dow Jones Industrial Average surging 0.60% to 13,471.22, the S&P 500 index rising 0.76% to 1,472.12 and the Nasdaq 100 index gaining 0.51% to 3,121.76.

Data on international trade for November and import and export prices for December will be released at 8:30 a.m. ET. The US Treasury monthly budget report for December will be released at 2 p.m. ET. Philadelphia Federal Reserve Bank President Charles Plosser will deliver a speech on the economic outlook at 9:30 a.m. ET

Wells Fargo & Company is projected to report its Q4 earnings at $0.89 per share on revenue of $21.29 billion. Northern Technologies International (NASDAQ: NTIC) is expected to report its Q1 earnings at $0.16 per share on revenue of $5.23 million.

American Express (NYSE: AXP) announced its plans to lower around 5,400 jobs this year.

Synnex (NYSE: SNX) reported upbeat fourth-quarter profit. However, the company issued weak revenue view.

Xyratex (NASDAQ: XRTX) reported narrower-than-expected Q4 loss. However, it issued downbeat Q1 revenue forecast.

European markets were mostly lower today. The STOXX Europe 600 Index declined 0.25%, London's FTSE 100 Index fell 0.01%, German DAX 30 Index dropped 0.01% and French CAC 40 Index fell 0.45%.

Asian markets ended mostly lower, with Japan's Nikkei Stock Average rising 1.40%, China's Shanghai Composite dipping 1.78% and Australia's S&P/ASX 200 Index dropping 0.24%. Hong Kong's Hang Seng Index fell 0.39% and India's Sensex rose 0.09 points.

The dollar index (DXY) gained 0.02% to trade at 79.80.

The US dollar gained 0.16% versus the Japanese yen to trade at ¥88.92.

Posted-In: US Stock FuturesNews Futures Global Pre-Market Outlook Markets


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