Traders Digest First Major Earnings of Q3 Season as US Equity Futures Gain Pre-Bell

MT Newswires Live10-08

US equity futures posted gains ahead of Tuesday's opening bell as traders digested the first major earnings of the Q3 earnings season.

Dow Jones Industrial Average futures gained 0.1%, S&P 500 futures increased 0.4%, and Nasdaq futures rose 0.4%.

Food and beverage manufacturer PepsiCo (PEP) reported pre-bell fiscal Q3 adjusted earnings that topped analysts' projections, while its revenue missed.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2% at $79.28 per barrel and US West Texas Intermediate crude down 2.1% at $75.55 per barrel.

The US trade deficit, released at 8:30 am ET, narrowed to $70.43 billion in August from $78.92 billion in the preceding month, compared with estimates compiled by Bloomberg for a $70.5 billion gap.

In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 9.4% lower, and China's Shanghai Composite finished 4.6% higher. Meanwhile, UK's FTSE 100 fell 1%, and Germany's DAX index slipped 0.2% in Europe's early afternoon session.

In equities, shares of Honeywell (HON) were 2% higher pre-bell after the company unveiled a planned spinoff of its advanced materials business.

On the losing side, SOBR Safe (SOBR) shares dropped 22% after the company priced an $8.2 million private placement of units.

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