Stocks- U.S. Futures Up Ahead of Earnings, Economic Data

Stocks- U.S. Futures Up Ahead of Earnings, Economic Data
Stock Market
Friday, October 13, 2017 - 10:54 – Wall Street was set for a positive opening on Friday as U.S. futures were up ahead of earnings releases and economic data.

The S&P 500 futures rose half a point or 0.03% as of 6:28 AM ET (11:28 AM GMT) while Dow futures increased 12 points or 0.05%. Tech heavy Nasdaq 100 futures surged three and a half points or 0.06%.

The telecommunication sector was among the biggest movers before the morning bell, with European firm Vodafone Group PLC (LON:VOD) ADR (NASDAQ:VOD) rising 0.48% and AT&T (NYSE:T) increasing 0.33%. Meanwhile industrial giant General Electric (NYSE:GE) rose 0.52% while agricultural firm Monsanto (NYSE:MON) jumped 1.95% after settling with seed firms in India.

Meanwhile, global healthcare firmNovo Nordisk A/S (NYSE:NVO) fell 2.71% and IT firmHelios and Matheson Analytics Inc (NASDAQ:HMNY) slumped 10.195%. Broadcasting firm Twenty-First Century Fox Inc (NASDAQ:FOX) was down 8.00% after the U.S. men’s soccer teams was eliminated from the 2018 World Cup.

In economic news, the core Consumer Price Index will be released at 8:30 AM ET (1:30 PM GMT) as well as retail sales. Both measurements are seen as a key indicator of the economy. The University of Michigan’s Consumer Sentiment Index, which rate the level of current and future economic conditions, will be released at 10:00 AM ET (3:00 PM GMT).

Earnings season is underway, with some banks scheduled to release their earnings before the morning bell, including Bank of America (NYSE:BAC) and PNC Financial (NYSE:PNC). Trucking firm JB Hunt Transport Services Inc (NASDAQ:JBHT) is also expected to release its earnings.

Meanwhile European stocks were mixed, with the Euro Stoxx 50 up 0.14%. In France, the CAC 40 inched forward 0.03%, while in Spain the IBEX 35 fell 0.02%. Germany’s DAX increased 0.06% and London’s FTSE 100 decreased 0.19%.

In commodities, gold futures rose to $1,296.78 an ounce while Crude Oil WTI Futures surged to $51.59 on the news that Chines imports rose 18.7% in September. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell to 92.91.

© Reuters.

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