Yahoo Finance Stocks- U.S. Futures Point to Low Opening Bell
Investing.com – U.S. futures pointed to a lower opening on Wall Street Thursday as investors wait for economic data and earnings results.
The S&P 500 futures decreased 13 points or 0.54% as of 6:52 AM ET (11:52 AM GMT) while Dow futures slumped 136 points or 0.59% after the Dow composite hit 23,000 for the first time on Wednesday. Tech heavy Nasdaq 100 futures fell 48 points or 0.79%.
Meanwhile on Thursday, consumer goods firm Unilever (LON:ULVR) PLC slumped 4.27% in pre-market trading after it reported weak third-quarter earnings while shares in Apple (NASDAQ:AAPL) fell 1.45%. Carmaker Fiat Chrysler Automobiles NV (NYSE:FCAU) was down 3.43% while eBay Inc (NASDAQ:EBAY) decreased 6.48% after it reported flat earnings in the third quarter on Wednesday.
Software firm Adobe Systems Incorporated (NASDAQ:ADBE) was the biggest winner before the morning bell, climbing 6.76% after it reported a 2018 revenue forecast that topped analyst expectations. Biopharmaceutical company Juno Therapeutic (NASDAQ:JUNO) also rose 5.62%.
United States President Donald Trump is set to meet with Federal Reserve Chair Janet Yellen on Thursday about renewing her term, which expires in February. Trump is expected to announce his decision before November 3. Stanford University economist John Taylor, is thought to be the favored candidate
In other economic news, the initial jobless claims data and the Philadelphia Fed manufacturing index both come out at 8:30 AM ET (1:30 PM GMT). Investors will be looking for signs of a strengthening U.S. economy, which would increase the likelihood of a Fed rate hike in December.
Earnings results continue in full-force on Thursday, with Verizon Communications Inc (NYSE:VZ), The Blackstone Group LP (NYSE:BX) and Philip Morris International Inc (NYSE:PM) among those expected to release third quarter earnings before the morning bell.
European stocks were down as Spanish political turmoil continued. The central government moved to suspend the autonomy of the Catalonia region after its leaders threatened to declare independence. Spain’s IBEX 35 slumped 80 points or 0.78% while in Germany the DAX also slipped 80 points or 0.62% and in France the CAC 40 was down 27 points or 0.53%.
In London, the FTSE 100 fell 24 points or 0.33% after UK retail sales came in lower than expected while the pan-European Euro Stoxx 50 decreased 22 points or 0.61%.
Gold futures increased to $1,288.30 an ounce while crude oil futures declined to $51.44 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell to 93.11.
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