Wall Street eyes muted open as investors weigh earnings; chips, oil stocks fall
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
UnitedHealth falls after Q3 results
Johnson & Johnson down following results
Banks broadly gain after earnings
Boeing up after it lines up $35 bln in funds
Futures: Dow down 0.03%, S&P 500 up 0.02%, Nasdaq flat
Updated at 8:30 a.m. ET/1230 GMT
By Lisa Pauline Mattackal and Purvi Agarwal
Oct 15 (Reuters) - Futures pointed to a subdued open for Wall Street's main indexes on Tuesday, asinvestors tooka breather after a rally in the previous session and parseda mixed set ofquarterly results from companies such as UnitedHealth and Bank of America.
Losses in semiconductor companies and oil stocks also weighed on sentiment, withAI-darling Nvidia NVDA.O down 0.7% in premarket trading following a record high close on Monday, after a report the U.S. is considering limiting exports of advanced artificial intelligence chips from the company and other U.S. peers to some countries.
Shares of Advanced Micro Devices AMD.O lost 1%.
Meanwhile, oil companies tumbled, with Exxon Mobil XOM.N and Occidental Petroleum OXY.N down 2.7% and 3%, respectively, as crude prices dropped 4%. O/R
Among a slew of earnings, healthinsurer UnitedHealth UNH.N dropped 3.7% after reporting a surge in medical costs in the third quarter. Johnson & Johnson JNJ.N also reversed course to fall 1%, despitelifting its annual profit and sales forecast.
Dow E-minis 1YMcv1 were down 12 points, or 0.03%, U.S. S&P 500 E-minis EScv1 were up 1.25 points, or 0.02%, Nasdaq 100 E-minis NQcv1 were up 0.75 points, or flat.
"Nothing has really happened just yet to offer any good guidance for investors," said Sam Stovall, chief investment strategist at CFRA Research.
On a brighter note, financial shares gained ground after several major banks reported results, adding to optimism around the sector after a set of reports from institutions including JPMorgan Chase JPM.N kicked off the third-quarter reporting season on an upbeat note last week.
Bank of America BAC.N jumped 2% after beating third-quarter profit estimates, Goldman Sachs GS.N was up 2.9% as its profit rose on a continued boost from investment banking, while Charles Schwab SCHW.N soared 9.4% after beating estimates.
"The financial sector (is) experiencing upward revisions to third-quarter earnings estimates, but all that's happening is that it's going from a low single digit gain to a mid-single digit gain - certainly not knocking the ball out of the park," Stovall said.
A number ofS&P 500 companies are scheduled to report results throughout the week, which will help investors gauge the health of the U.S. economy. Large companies willalso need to justify their expensive stock valuations, particularly in the tech sector, where valuations have grown increasingly inflated inthe past year.
All three major indexes jumped on Monday, with the S&P 500 .SPX and Dow Jones .DJI notching record highs for the second consecutive session.
The Dow closed above the 43,000-mark for the first time, while the benchmark S&P 500 is nearing the psychologically significant 6,000 level.
Boeing BA.N rose 1.1% after the planemaker filed to raise up to $25 billion through a stock and debt offering and entered into a $10 billion credit agreement amid a crippling strike and upcoming debt maturities.
Traders are pricing in about an 88% chance the Fed will cut rates by 25 basis points in November and a slight probability it will leave rates unchanged, according to CME's FedWatch.
Speeches from Federal Reserve officials Adriana Kugler, MaryDaly and Raphael Bostic are also on deck, while economic data including monthly retail sales figures are due on Thursday.
Reporting by Lisa Mattackal and Purvi Agarwal in Bengaluru; Editing by Pooja Desai
Relaterade tillgångar
Senaste nytt
Ansvarsfriskrivning: XM Group-enheter tillhandahåller sin tjänst enbart för exekvering och tillgången till vår onlinehandelsplattform, som innebär att en person kan se och/eller använda tillgängligt innehåll på eller via webbplatsen, påverkar eller utökar inte detta, vilket inte heller varit avsikten. Denna tillgång och användning omfattas alltid av i) villkor, ii) riskvarningar och iii) fullständig ansvarsfriskrivning. Detta innehåll tillhandahålls därför uteslutande som allmän information. Var framför allt medveten om att innehållet på vår onlinehandelsplattform varken utgör en uppmaning eller ett erbjudande om att ingå några transaktioner på de finansiella marknaderna. Handel på alla finansiella marknader involverar en betydande risk för ditt kapital.
Allt material som publiceras på denna sida är enbart avsett för utbildnings- eller informationssyften och innehåller inte – och ska inte heller anses innehålla – rådgivning och rekommendationer om finansiella frågor, investeringsskatt eller handel, dokumentation av våra handelskurser eller ett erbjudande om, eller en uppmaning till, en transaktion i finansiella instrument eller oönskade finansiella erbjudanden som är riktade till dig.
Tredjepartsinnehåll, liksom innehåll framtaget av XM såsom synpunkter, nyheter, forskningsrön, analyser, kurser, andra uppgifter eller länkar till tredjepartssajter som återfinns på denna webbplats, tillhandahålls i befintligt skick, som allmän marknadskommentar, och utgör ingen investeringsrådgivning. I den mån som något innehåll tolkas som investeringsforskning måste det noteras och accepteras att innehållet varken har varit avsett som oberoende investeringsforskning eller har utarbetats i enlighet med de rättsliga kraven för att främja ett sådant syfte, och därför är att betrakta som marknadskommunikation enligt tillämpliga lagar och föreskrifter. Se till så att du har läst och förstått vårt meddelande om icke-oberoende investeringsforskning och riskvarning om ovannämnda information, som finns här.
