A Peek Into The Markets: US Stock Futures Down Following Presidential Debate

Pre-open movers

U.S. stock futures traded lower in early pre-market trade, after recording losses in the previous session. President Donald Trump and former Vice President Joe Biden came face-to-face Tuesday night in the first presidential debate held in Cleveland.

Investors are awaiting various economic reports from the US. The ADP national employment report for September is scheduled for release at 8:15 a.m. ET, while Gross Domestic Product report for the second quarter will be released at 8:30 a.m. ET. The Chicago PMI for September will be released at 9:45 a.m. ET, whilr the pending home sales index for August is scheduled for release at 10:00 a.m. ET. Federal Reserve Bank of Minneapolis President Neel Kashkari is set to speak at 9:30 a.m. ET, while Fed Gov. Michelle Bowman will speak at 1:40 p.m. ET. Federal Reserve Bank of Dallas President Robert Kaplan is set to speak at 6:00 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 235 points to 27,173 while the Standard & Poor’s 500 index futures traded fell 25.75 points to 3,308.00. Futures for the Nasdaq 100 index declined 98.75 points to 11,239.00.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 7,191,060 with around 205,990 deaths. India reported a total of at least 6,225,760 confirmed cases, while Brazil confirmed over 4,777,520 cases.

Oil prices traded lower as Brent crude futures fell 0.5% to trade at $41.34 per barrel, while US WTI crude futures fell 0.4% to trade at $39.14 a barrel. The American Petroleum Institute reported a decline of 831,000 barrels in US crude supplies for the week ended September 25. The Energy Information Administration’s weekly report on petroleum inventories is scheduled for release at 10:30 a.m. ET.

 

A Peek Into Global Markets


European markets were lower today, following a decline in the prior session. The Spanish Ibex Index fell 0.2% and STOXX Europe 600 Index declined 0.3%. The French CAC 40 Index declined 0.5%, while German DAX 30 declined 0.5% and London’s FTSE 100 fell 0.1%. Spain reported a narrower current account surplus, which shrank to EUR 1.45 billion in July versus EUR 3.74 billion in the year-ago period. German jobless claims declined for the third straight month, falling by 8,000 in September.

Asian markets traded mixed following a rally on the Wall Street in the previous session. Japan’s Nikkei 225 dropped 1.5%, Hong Kong’s Hang Seng Index rose 0.79% China’s Shanghai Composite Index slipped 0.2% and India’s BSE Sensex rose 0.5%. Japanese index for leading economic indicators was revised lower to 86.7 in July versus a preliminary reading of 86.9.


Broker Recommendation

Analysts at Longbow Research upgraded Polaris Inc. PII from Neutral to Buy and announced a $114 price target.

Polaris shares rose 0.8% to $92.00 in pre-market trading.


Breaking News

  • Micron Technology, Inc. MU reported better-than-expected results for its fourth quarter, but issued weak profit forecast for the first quarter.
  • Pfizer Inc PFE announced plans to make a $200 million inChinese company CStone Pharmaceuticals through a subsidiary.
  • CureVac BV CVAC reported the initiation of Phase 2a trial of its COVID-19 vaccine candidate.
  • Caesars Entertainment, Inc. CZR announced it will acquire William Hill for £2.9 billion in cash..
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsEurozoneFuturesGlobalPre-Market OutlookMarketsA Peek Into The Markets
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...