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Market Wrap: pre-opening session |
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U.S. market futures are mixed. On Monday, major U.S. indices finished mixed, with technology and AI-linked stocks rebounding from last week's sharp selloff and driving gains in the Nasdaq. The S&P 500 advanced 31 points (+0.41%) to 7,690, the Nasdaq 100 jumped 341 points (+1.17%) to 29,529, and the Dow Jones slipped 36 points (-0.07%) to 51,966.
The U.S. 10-year Treasury yield stood at 5.14%.
On the stat front, in the U.S., housing starts are expected to rise 1.9% month-on-month in September, while building permits are forecast to drop 0.7%.
European indices are losing ground. On the statistics front, in the eurozone, the ZEW economic indicator of investor confidence came in at 18.5 in October, versus 23.6 expected, after 25.8 in September. Meanwhile, in Germany, the ZEW economic sentiment indicator of investor confidence stood at 28.1 in October, versus 30 expected, after 34.7 the previous month. In addition, producer prices rose 6.7% year-on-year in September, versus +5.3% expected, after +4.6% the previous month. Finally, in the U.K., the unemployment rate came in lower at 4.7% over the June-August period. It was expected at 4.9%.
Asian indices closed mostly lower, with South Korea's Kospi dropping 3.73%.
WTI crude oil prices are up, testing the key level resistance around 100 dollars.
Gold consolidates to 4,100 dollars.
Bitcoin consolidates below 81,500 dollars.
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GE Aerospace (GE), a provider of jet and turboprop engines, jumps after raising its 2026 profit forecast on strong demand. The company now expects its 2026 adjusted EPS to be between 8 dollars and 8.10 dollars, compared with 7.65 dollars to 7.85 dollars forecast earlier.
RTX (RTX), a technology and innovation leader specializing in defense, civil government, and cybersecurity solutions, raised its full-year profit and revenue forecasts.
3M (MMM), a diversified multinational conglomerate, is well oriented after announcing it will strengthen its partnership with Amazon (AMZN) in data centers. In addition, the group issued a warrant to an Amazon subsidiary granting it the right to acquire 3M shares for more than 521 million dollars.
General Motors (GM), a global automobile manufacturer, loses ground after issuing a weaker-than-expected full-year adjusted EPS forecast.
Northrop Grumman (NOC), a global security company, is well oriented after lifting its 2026 profit guidance.
Halliburton (HAL), the oil and gas services company, gains ground as quarterly adjusted EPS and sales both beat estimates.
Steel Dynamics (STLD), a steel producer, loses ground as third-quarter earnings missed expectations.
BlackRock (BLK), the largest public investment management firm in the world, was upgraded to "buy" from "hold" at TD Cowen.
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Space Exploration Technologies Corp (SPCX)
GE Aerospace (GE)
Netflix Inc (NFLX)
RTX Corp (RTX)
Intuitive Surgical Inc (ISRG)
Chubb Ltd (CB)
Capital One Financial Corp (COF)
3M Co (MMM)
Northrop Grumman Corp (NOC)
General Motors Co (GM)
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On Monday, the S&P/TSX Composite Index dropped 0.69% to 35,928 and the S&P/TSX 60 Index slid 0.71% to 2,127.
Precision Drilling (PD), an oil and gas industry services company, was upgraded to "buy" from "hold" at TD Cowen.
Ensign Energy Services (ESI), the oilfield services provider, was upgraded to "buy" from "hold" at TD Cowen.
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