Global Stock Markets
U.S. stock futures on Tuesday pointed to a rise at the open, putting the Nasdaq Composite on track for another record.
Investors are weighing up a raft of corporate earnings and departing Federal Reserve Chairwoman Janet Yellen’s announcement that she will leave the central bank altogether, rather than stay on as a Fed governor.
S&P 500 futures ESZ7, +0.36% rose by 9 points, or 0.3%, to 2,591, while Dow Jones Industrial Average futures YMZ7, +0.46% moved up by 106 points, or 0.4%, to 23,502. Nasdaq-100 futures NQZ7, +0.46% added 30 points, or 0.5%, to 6,346.
On Monday, the S&P 500 SPX, +0.13% and Nasdaq Composite COMP, +0.12% both gained 0.1%, leaving the Nasdaq less than 0.1% from last week’s all-time closing high. The Dow DJIA, +0.31% tacked on 0.3%, as the blue-chip gauge and the S&P finished 0.6% and 0.5% away from their early-November record closes, respectively.
The three equity benchmarks are up between 15% and 26% for the year as of Monday’s close, helped by factors such as an expanding U.S. economy, growth in corporate profits and bets that the Trump administration will deliver tax cuts and other business-friendly policies.
The Monday announcement from Yellen, who could have stayed on as a Fed governor until 2024, gives President Donald Trump even more room to change the way the U.S. central bank operates.
Chicago Fed national activity index rose to 0.65 in October from 0.36 in September.
An October figure for existing-home sales is due at 10 a.m. Eastern. Economists polled by MarketWatch are expecting 5.45 million homes were sold.
Home-improvement chain Lowe’s Cos. LOW, +0.20% and specialty retailerSignet Jewelers Ltd. SIG, -0.97% fell 1.5% and 14%, respectively, in premarket trading after posting weaker-than-expected earnings before the open, while discount retailer Dollar Tree Inc. DLTR, +2.64% gained 0.9% after its stronger-than-anticipated results.
Packaged-foods heavyweights Hormel Foods Corp. HRL, +0.85% and Campbell Soup Co. CPB, +0.42% also released results, leaving Hormel up by 1% while Campbell shed 7%.
Medical-device maker Medtronic PLC MDT, -0.74% posted earnings before the open as well, beating forecasts. The stock was up 3% in premarket trading.
Shares in Intuit Inc. INTU, +0.79% traded 0.8% lower in premarket action. The maker of TurboTax and other accounting software posted better-than-expected quarterly results late Monday, but some analysts said the company’s guidance was disappointing.
Agilent Technologies Inc. A, +1.70% fell 4% premarket after the maker of scientific equipment late Monday posted better-than-anticipated quarterly earnings but gave a profit forecast that fell short of expectations.
Shares in AmerisourceBergen Corp. ABC, -1.75% could see active trading after the drug distributor late Monday agreed to buy independent wholesaler H.D. Smith for $815 million.
European stocks SXXP, +0.52% traded higher, while Asian markets mostly closed with gains. Gold futures GCZ7, +0.10% were advancing, while oil futures CLJ8, +0.12% and the ICE U.S. Dollar Index DXY, +0.02% were little changed.
Investors are weighing up a raft of corporate earnings and departing Federal Reserve Chairwoman Janet Yellen’s announcement that she will leave the central bank altogether, rather than stay on as a Fed governor.
S&P 500 futures ESZ7, +0.36% rose by 9 points, or 0.3%, to 2,591, while Dow Jones Industrial Average futures YMZ7, +0.46% moved up by 106 points, or 0.4%, to 23,502. Nasdaq-100 futures NQZ7, +0.46% added 30 points, or 0.5%, to 6,346.
On Monday, the S&P 500 SPX, +0.13% and Nasdaq Composite COMP, +0.12% both gained 0.1%, leaving the Nasdaq less than 0.1% from last week’s all-time closing high. The Dow DJIA, +0.31% tacked on 0.3%, as the blue-chip gauge and the S&P finished 0.6% and 0.5% away from their early-November record closes, respectively.
The three equity benchmarks are up between 15% and 26% for the year as of Monday’s close, helped by factors such as an expanding U.S. economy, growth in corporate profits and bets that the Trump administration will deliver tax cuts and other business-friendly policies.
The Monday announcement from Yellen, who could have stayed on as a Fed governor until 2024, gives President Donald Trump even more room to change the way the U.S. central bank operates.
Chicago Fed national activity index rose to 0.65 in October from 0.36 in September.
An October figure for existing-home sales is due at 10 a.m. Eastern. Economists polled by MarketWatch are expecting 5.45 million homes were sold.
Home-improvement chain Lowe’s Cos. LOW, +0.20% and specialty retailerSignet Jewelers Ltd. SIG, -0.97% fell 1.5% and 14%, respectively, in premarket trading after posting weaker-than-expected earnings before the open, while discount retailer Dollar Tree Inc. DLTR, +2.64% gained 0.9% after its stronger-than-anticipated results.
Packaged-foods heavyweights Hormel Foods Corp. HRL, +0.85% and Campbell Soup Co. CPB, +0.42% also released results, leaving Hormel up by 1% while Campbell shed 7%.
Medical-device maker Medtronic PLC MDT, -0.74% posted earnings before the open as well, beating forecasts. The stock was up 3% in premarket trading.
Shares in Intuit Inc. INTU, +0.79% traded 0.8% lower in premarket action. The maker of TurboTax and other accounting software posted better-than-expected quarterly results late Monday, but some analysts said the company’s guidance was disappointing.
Agilent Technologies Inc. A, +1.70% fell 4% premarket after the maker of scientific equipment late Monday posted better-than-anticipated quarterly earnings but gave a profit forecast that fell short of expectations.
Shares in AmerisourceBergen Corp. ABC, -1.75% could see active trading after the drug distributor late Monday agreed to buy independent wholesaler H.D. Smith for $815 million.
European stocks SXXP, +0.52% traded higher, while Asian markets mostly closed with gains. Gold futures GCZ7, +0.10% were advancing, while oil futures CLJ8, +0.12% and the ICE U.S. Dollar Index DXY, +0.02% were little changed.
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