Futures subdued after tech selloff; bank earnings in focus
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Intel slips after China cyber body recommends review
Interactive Brokers down; missed Q3 adjusted estimates
Futures: Dow down 0.01%, S&P 500 up 0.04%, Nasdaq up 0.10%
Updated at 07:04 a.m. ET/1104 GMT
By Lisa Pauline Mattackal and Purvi Agarwal
Oct 16 (Reuters) - U.S. stock index futures were largely subduedon Wednesday, following a selloff in tech and oil stocksin the previous session, as investors awaited quarterly results from Morgan Stanley and other banks.
Chip heavyweight Nvidia NVDA.O rose 0.6% in premarket trading, after slumping nearly 5% in the previous session, following a report the Biden administration is considering capping AI chip exports by U.S. companies.
Semiconductor stocks were broadly mixed, with the U.S.-listing of chip equipment-maker ASML Holding ASML.O ASML.AS losing 3.9% after the company cut its annual sales forecast on Tuesday.
Intel INTC.O dipped 2% after the Cybersecurity Association of China recommendedinitiating a review of the chipmaker's products sold in the country.
Dow E-minis 1YMcv1 were down 4 points, or 0.01%, S&P 500 E-minis EScv1 were up 2.25 points, or 0.04% and Nasdaq 100 E-minis NQcv1 were up 20.25 points, or 0.1%.
Steep declines in semiconductor and oil stocks dragged on Wall Street on Tuesday, while investors assessed a mixed bag of earnings. Shares of health insurer UnitedHealth UNH.N slumped, offsetting the gains from major banks' upbeat results.
Corporate results are due through the week, along with key economic data including the retail sales and industrial production figures on Thursday, all of which are expected to shed light on consumer health and the growth outlook for the world's largest economy.
The S&P 500 and Dow were trading around record high levels despite Tuesday's fall, with continued optimism about future rate cuts from the Federal Reserve as well as economic growth buoying sentiment.
"I continue to view dips as buying opportunities, with said downside likely to prove shallow and short-lived in nature," said Michael Brown, senior research strategist at Pepperstone.
Banks will be in focus on the day, with most big names reporting broadly upbeat results so far. Earnings from lendersincluding Morgan Stanley MS.N due before the bell.
"Providing that banks prove a reliable barometer for earnings season more broadly, solid earnings growth, coupled with resilient economic growth, should continue to power the market higher," Brown said.
Citizens Financial Group CFG.N lost 1.2%, while U.S. Bancorp USB.N gained 2% after the banks reported their third-quarter results.
Bets on a 25-basis-point rate cut at the Federal Reserve's November meeting have risen above 90%, according to CME's FedWatch.
September import and export prices data is also due later in the day.
Shares of most rate-sensitive megacap tech stocks edged higher in premarket trading, helped by easing U.S. Treasury yields. Alphabet GOOGL.O and Amazon.com AMZN.O both rose 0.2%, whileApple AAPL.O was flatafter touching a record high on Tuesday.
Shares of Interactive Brokers Group IBKR.O fell 4.5% after missing estimates for adjusted third-quarter earnings.
J.B. Hunt JBHT.O climbed 6.8% after beating third-quarter profit estimates on Tuesday after the bell.
Reporting by Lisa Mattackal and Purvi Agarwal in Bengaluru; Editing by Pooja Desai
Activos relacionados
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
