Pre-open movers
U.S. stock futures traded higher in early pre-market trade. Facebook Inc (NASDAQ: FB), QUALCOMM, Inc. (NASDAQ: QCOM) and Tesla Inc (NASDAQ: TSLA) will release earnings after the closing bell. Data on motor vehicle sales for
October will be released today. The ADP national employment report for October will be released at 8:15 a.m. ET, while the
manufacturing PMI for October is schedule for release at 9:45 a.m. ET. The ISM manufacturing index for October and Data on
construction spending for September will be released at 10:00 a.m. ET. The Federal Open Market Committee will announce its policy
decision at 2:00 p.m. ET.
Futures for the Dow Jones Industrial Average surged 132 points to 23,457.00, while the Standard & Poor’s 500 index futures rose
11 points to 2,583.75. Futures for the Nasdaq 100 index climbed 27.25 points to 6,277.75.
Oil prices traded higher as Brent crude futures rose 0.69 percent to trade at $61.32 per barrel, while US WTI crude futures
gained 1.29 percent to trade at $55.08 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in
the U.S. is schedule for release at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 0.36 percent, STOXX Europe 600 Index climbing 0.64
percent and German DAX 30 index gaining 1.60 percent. The UK's FTSE index was trading higher by 0.15 percent, while French CAC 40
Index rose 0.48 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 1.86 percent, Hong Kong’s Hang Seng Index rose 1.23 percent, China’s
Shanghai Composite Index gained 0.08 percent and India’s BSE Sensex climbed 1.17 percent.
Broker Recommendation
Analysts at JP Morgan upgraded American Airlines Group Inc (NASDAQ: AAL) from Neutral to Overweight.
American Airlines shares rose 2.09 percent to $47.80 in pre-market trading.
Breaking news
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Allergan plc (NYSE: AGN) posted better-than-expected
earnings for its third quarter on Wednesday.
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Estee Lauder Companies Inc (NYSE: EL) reported upbeat
results for its third quarter and raised its FY guidance.
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Thomson Reuters Corp (NYSE: TRI) reported
stronger-than-expected earnings for its third quarter, while sales slightly missed views.
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Electronic Arts Inc. (NASDAQ: EA) posted a Q2 GAAP
EPS of $(0.07). Sales were significantly down year over year at $959 million, down from $1.18 billion in the second quarter of
2016. The company also issued a weak sales guidance for the holiday quarter.
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