A Peek Into The Markets: US Stock Futures Flat Ahead Of Earnings

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade, ahead of earnings from several companies. Data on existing home sales for September will be released at 10:00 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Dallas, TX at 1:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 5 points to 26,792 while the Standard & Poor’s 500 index futures traded fell 1.25 points to 3,005.25. Futures for the Nasdaq 100 index rose 3.5 points to 7,951.75.

Oil prices traded higher as Brent crude futures rose 0.6% to trade at $59.31 per barrel, while US WTI crude futures rose 0.6% to trade at $53.65 a barrel.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index falling 0.1%, STOXX Europe 600 Index gaining 0.1% and German DAX 30 index gaining 0.2%. The UK's FTSE index was trading higher by 0.5%, while French CAC 40 Index fell 0.1%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.25%, Hong Kong’s Hang Seng Index gained 0.23%, China’s Shanghai Composite Index rose 0.5% and India’s BSE Sensex fell 0.85%.

Broker Recommendation

Analysts at Morgan Stanley downgraded Bandwidth Inc. BAND from Overweight to Equal-Weight.

Bandwidth shares rose 0.2% to close at $58.51 on Monday.

Breaking News

• Hasbro, Inc. HAS reported weaker-than-expected results for its third quarter.
• Stamps.com Inc. STMP disclosed a new collaboration with United Parcel Service, Inc. UPS to provide its customer base with specially discounted UPS shipping rates.
• TD Ameritrade Holding Corp. AMTD reported better-than-expected earnings for its fourth quarter.
• Biogen Inc BIIB shares jumped 29% in pre-market trading following the company's announcement that it plans to pursue regulatory approval for aducanumab in Alzheimer's disease after the Phase 3 EMERGE study met its primary endpoint.