U.S Futures down - Watch MS, WBA, UAL, AA, REGN, ROKU, VIAC


The S&P 500 Futures remain under pressure after they sank further yesterday

Trading floor 2

The S&P 500 Futures remain under pressure after they sank further yesterday. Pessimistic sentiment grew after U.S. Treasury Secretary Steven Mnuchin indicated that a deal for further fiscal stimulus is unlikely before the November election.

Later today, the U.S. Labor Department will release initial jobless claims in the week ending October 10 (0.82 million expected) and September import price index (+0.3% on month expected). The New York Federal Reserve will publish October Empire Manufacturing Index (14.0 expected). The Philadelphia Federal Reserve will report its Business Outlook Index for October (14.3 expected).

European indices are on the downside. France's INSEE has posted final readings of September CPI at +0.0% (vs +0.1% on year expected).

Asian indices closed in the red except the Australian ASX. The Australian economy shed 29,500 jobs in September (-40,000 jobs expected) and jobless rate edged up to 6.9% (7.0% expected) from 6.8% in August.

WTI Crude Oil futures are bullish. OPEC+ nations implemented 102% of agreed supply cuts in September. The American Petroleum Institute (API) reported that U.S. crude oil inventories dropped 5.4M barrels in the week ending October 9. Later today, the EIA will release official crude oil inventories data for the same period.

Gold loses some ground while the U.S dollar rebounds on fading U.S stimulus hopes.

Gold fell 7.73 dollars (-0.41%) to 1893.79 dollars.

The dollar index rose 0.31pt to 93.689.

U.S. Equity Snapshot

Morgan Stanley (MS), the banking group,posted third quarter net sales up 16% to 11.66 billion dollars, above estimates. Adjusted EPS increased to 1.59 dollar from 1.21 dollar. 

Source: TradingView, GAIN Capital

Walgreens Boots Alliance (WBA), a global leader in retail and wholesale pharmacy, is surging before hours after posting fourth quarter adjusted EPS of 1.02 dollar, above estimates, vs 1.43 dollar a year earlier. Sales increased 2.3% to 34.75 billion dollars, beating expectations. Regarding current fiscal year, the company expects strong second half adjusted EPS growth.

United Airlines (UAL), the transportation company, reported third quarter adjusted LPS of 8.16 dollars, worse than anticipated, down from an EPS of 4.07 dollars a year ago, on revenue of 2.5 billion dollars, as expected, down from 11.4 billion dollars a year earlier.

Alcoa (AA), one of the largest American aluminum producers, dived after hours after saying it "expects flat sequential quarterly results in the Bauxite segment" in the fourth quarter. Separately, the company reported third quarter earnings that beat estimates. 

Regeneron Pharmaceuticals (REGN), a biotech, "announced that the U.S. FDA approved Inmazeb for the treatment of infection caused by Zaire ebolavirus".

Roku (ROKU), the video streaming platform, was downgraded to "sector weight" from "overweight" at KeyBanc. 

Viacom (VIAC), the media company, was upgraded to "overweight" from "equalweight" at Barclays, with a 36 dollars share price target.

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