A Peek Into The Markets: US Stock Futures Up Ahead Of Procter & Gamble Earnings

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings reports from Procter & Gamble Co PG and Schlumberger Limited SLB. Data on existing home sales for September will be released at 10:00 a.m. ET. Atlanta Federal Reserve President Raphael Bostic is set to speak in Macon, GA at 12:00 p.m. ET, while Dallas Federal Reserve Bank President Robert Kaplan will speak in New York, New York at 12:45 p.m. ET.

Futures for the Dow Jones Industrial Average surged 56 points to 25,437, while the Standard & Poor’s 500 index futures traded gained 5.75 points to 2,778.00. Futures for the Nasdaq 100 index climbed 28.75 points to 7,166.50.

Oil prices traded higher as Brent crude futures rose 1.03 percent to trade at $80.11 per barrel, while US WTI crude futures rose 0.66 percent to trade at $69.10 a barrel. The Baker Hughes North American rig count report for the recent week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.70 percent, STOXX Europe 600 Index falling 0.29 percent and German DAX 30 index dropped 0.20 percent. The UK's FTSE index was trading higher by 0.12 percent, while French CAC 40 Index dipped 0.72 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.56 percent, Hong Kong’s Hang Seng Index rose 0.42 percent, China’s Shanghai Composite Index climbed 2.58 percent and India’s BSE Sensex fell 1.33 percent.

Broker Recommendation

Analysts at Morgan Stanley downgraded Ford Motor Company F from Overweight to Equal-Weight and lowered the price target from $14 to $10.

Ford shares fell 1.29 percent to $8.40 in pre-market trading.

Breaking News

• Honeywell International Inc. HON reported upbeat earnings for its third quarter, but lowered its FY18 guidance
• SunTrust Banks, Inc. STI reported upbeat earnings for its third quarter, while sales missed views.
• Paypal Holdings Inc PYPL reported better-than-expected earnings for its third quarter and raised its FY18 guidance. The company reported partnerships with AmEx and Walmart.
• Skechers USA Inc SKX reported upbeat earnings for its third quarter and issued a strong outlook for the fourth quarter.