US Stock Futures Slide on Earnings; Crude Oil Steady

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US Stock Futures Slide on Earnings; Crude Oil Steady

Bloomberg2023-10-25

European stocks fall; payment firm Worldline plunges 50%Crude oil steady amid diplomatic efforts in Middle EastUS equity-index futures dropped after Microsoft Corp. and Google’s parent Alphabet Inc. ...

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大王木瓜
·2023-10-25
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Alphabet fell as much as 7% in premarket trading after its cloud unit reported a smaller than expected profit. Microsoft, on the other hand, climbed after results in its cloud business beat expectations. Meanwhile, Texas Instruments Inc. dropped after a disappointing revenue forecast suggested that demand remains sluggish for a broad range of electronic components.With earnings season in full swing, investors are looking for evidence on how companies are coping with high interest rates and whether consumer spending is changing because of inflation. 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Peer Nexi SpA slumped more than 10%.Offsetting those misses, Deutsche bank AG gained as much as 7.5% after saying it plans to accelerate payouts to shareholders as higher income from its corporate bank and deposit inflows offset weaker trading results in the third quarter. Swedish steelmaker SSAB AB asnd French software company Dassault Systemes advanced after earnings beats.The Treasury 10-year yield rose four basis points and a gauge of the dollar climbed for a second day. Elevated bond yields continue to weigh on appetite for equities, with major central banks set to hold policy rates high to bring down inflation.“Rates will likely trade within recent ranges, but we do think that the latest US data provides some support to the higher-for-longer theme,” said Evelyne Gomez-Liechti, a strategist at Mizuho International. “We wouldn’t be surprised to see 10-year Treasury yields testing the 5% handle again.”Country GardenShares in Asia pushed higher after the government stepped up support for China’s economy and stock trading. The Hang Seng Tech Index gained 2.2%. Meanwhile, troubled Chinese developer Country Garden Holdings Co. was deemed to be in default on a dollar bond for the first time, amid the broader property-debt crisis that’s shaken China’s economy.Global benchmark Brent crude was steady after dipping below $88 a barrel, and has now erased about half of its gains since Hamas’ attack on Oct. 7, while West Texas Intermediate traded near $83. The US and Saudi Arabia agreed to pursue diplomatic efforts, the White House said Tuesday, helping to ease fears of major disruptions to the oil market.Bank of Japan officials are likely to monitor bond yield movements until the last minute before making a decision on whether to adjust the yield curve control program at a policy meeting next week, according to people familiar with the matter. The yen was little changed Wednesday.Key events this week:Canada rate decision, WednesdayUS new home sales, WednesdayIBM, Meta earnings, WednesdayEuropean Central Bank interest rate decision; President Christine Lagarde holds news conference, ThursdayUS wholesale inventories, GDP, US durable goods, initial jobless claims, pending home sales, ThursdayIntel, Amazon earnings, ThursdayChina industrial profits, FridayJapan Tokyo CPI, FridayUS PCE deflator, personal spending and income, University of Michigan consumer sentiment, FridayExxon Mobil earnings, FridayAnd here are some of the main market moves:StocksS&P 500 futures fell 0.4% as of 6:20 a.m. New York timeNasdaq 100 futures fell 0.6%Futures on the Dow Jones Industrial Average were little changedThe Stoxx Europe 600 fell 0.4%The MSCI World index was little changedCurrenciesThe Bloomberg Dollar Spot Index rose 0.2%The euro fell 0.2% to $1.0571The British pound fell 0.3% to $1.2121The Japanese yen was little changed at 149.92 per dollarCryptocurrenciesBitcoin rose 1.5% to $34,140.17Ether rose 0.4% to $1,778.33BondsThe yield on 10-year Treasuries advanced four basis points to 4.86%Germany’s 10-year yield advanced three basis points to 2.86%Britain’s 10-year yield advanced two basis points to 4.56%CommoditiesWest Texas Intermediate crude fell 0.2% to $83.55 a barrelGold futures fell 0.2% to $1,981.40 an ounce","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":234285472989416,"gmtCreate":1698235337120,"gmtModify":1698235340616,"author":{"id":"4087112565401300","authorId":"4087112565401300","name":"大王木瓜","avatar":"https://static.tigerbbs.com/0bdb060266f2f7b364f4ed52aa6519b6","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0},"htmlText":"[Miser]&nbsp;&nbsp;","listText":"[Miser]&nbsp;&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/234285472989416","repostId":1112040837,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}