Market Overview

US Stock Futures Down Ahead Of Earnings

Related BA
Markets Debut Week On Negative Note; S&P 500 Falls Through Key Level
Boeing Shares Up On $4.9 Billion 737 Order
Apple Leads the Charge as Earnings Season Heats Up (Fox Business)
Related CAT
Will ABB Ltd. (ABB) Disappoint this Earnings Season?
IBM's Report Weighs On The Dow, Apple Helps Boost The Nasdaq, S&P 500 Extends Winning Streak
Apple Leads the Charge as Earnings Season Heats Up (Fox Business)

Pre-open movers

US stock futures dropped in early pre-market trade, ahead of earnings from Boeing Co (NYSE: BA) and Caterpillar (NYSE: CAT). The import price index will be released at 8:30 a.m. ET, while the FHFA home-price index will be released at 9:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 77 points to 15,321.00, while the Standard & Poor's 500 index futures fell 10.60 points to 1,738.80. Futures for the Nasdaq 100 index declined 21.25 points to 3,335.25.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 1.92%, London's FTSE 100 index dropping 0.48% and STOXX Europe 600 Index falling 0.73%. German DAX 30 index fell 0.45% and French CAC 40 Index declined 0.94%. French business sentiment climbed to 98 in October, versus 97 in September.

Asian markets ended lower today. Japan's Nikkei Stock Average tumbled 1.95%, China's Shanghai Composite fell 1.25% and Hong Kong's Hang Seng Index declined 1.36%. Australia's ASX/S&P500 fell 0.27% and India's Sensex declined 0.47%.

Broker Recommendation

Analysts at Bank of America downgraded Coach (NYSE: COH) from “buy” to “neutral.” The target price for Coach has been lowered from $63 to $54. Coach's shares closed at $50.10 yesterday.

Breaking news

  • WellPoint (NYSE: WLP) reported a 5.1% drop in its third-quarter earnings. WellPoint's quarterly profit fell to $656.2 million, from $691.2 million, in the year-ago period. To read the full news, click here.
  • Main Street Capital (NYSE: MAIN) announced today that it recently closed a new portfolio investment totaling $9.2 million of invested capital in Glowpoint (NYSE: GLOW). To read the full news, click here.
  • Eli Lilly & Co (NYSE: LLY) reported a 9.3% drop in its third-quarter earnings. Eli Lilly now expects full-year adjusted earnings of $4.10 to $4.15 per share. To read the full news, click here.
  • Sabre announced today that Marriott International (NASDAQ: MAR), a leading lodging company with more than 3,800 properties across the broadest portfolio of brands in the lodging industry, has signed a long-term distribution agreement extension. To read the full news, click here.

Posted-In: Bank of America US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

Related Articles (BA + CAT)

Around the Web, We're Loving...

Get Benzinga's Newsletters