Futures fall as investors brace for earnings season; Tesla dips
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Futures down: Dow 0.11%, S&P 500 0.21%, Nasdaq 0.34%
Oct 11 (Reuters) -U.S. stock index futures edged lower on Friday, ahead of the third-quarter earnings season kickoff, after hotter-than-expected September inflation data solidified expectations for a 25-basis-point rate cut by the Federal Reserve in November.
Shares of Tesla TSLA.O dropped 5.8% in premarket trading after the EV maker unveiled its long awaited robotaxi, but did not provide details on how fast it could ramp up production or deal with potential regulatory hurdles.
Major financial companies kick off the third-quarter earnings season later in the day. JPMorgan Chase JPM.N and Wells Fargo WFC.N slipped about 0.2% each ahead of their scheduled results before the bell.
With major indexes trading around record highs and the benchmark S&P 500 .SPX up over 21% year-to-date, third-quarter earnings will test whether 2024's rally can be sustained amid uncertainty over monetary policy, geopolitical risks and the upcoming U.S. presidential elections.
Wall Street closed slightly lower on Thursday after a keenly watched Consumer Price Index report showed inflation rose higher than expected in September, but an uptick in jobless claims pointed to potential weakness in the labor market.
Still, bets on a 25-bps rate cut from the U.S. central bank in November remained intact, with analysts pointing to the impact of Hurricane Helene and an ongoing strike at Boeing BA.N as muddying jobless claims data.
"On the whole, there is relatively little in the data that is likely to dispel the FOMC’s confidence in inflation returning towards the 2% inflation target over the medium term," said Michael Brown, senior research strategist at Pepperstone.
Traders are pricing in a roughly 84% chance of a 25-bps reduction at November's meeting and see a slight chance - about 16% - of no change at that meeting, according to CME's FedWatch.
On the other hand, Atlanta Federal Reserve President Raphael Bostic said he was open to keeping rates unchanged next month.
Also on deck are Producer Price Index data and the University of Michigan's consumer sentiment survey, as well as speeches from Fed officials Michelle Bowman, Lorie Logan and Austan Goolsbee through the day.
At 5:00 a.m. ET, Dow E-minis 1YMcv1 were down 48 points, or 0.11%, U.S. S&P 500 E-minis EScv1 were down 12 points, or 0.21% and Nasdaq 100 E-minis NQcv1 were down 69.75 points, or 0.34%.
U.S.-listed shares of Chinese companies lost ground ahead of a closely watched fiscal stimulus update from Beijing on Saturday. Among them, JD.com JD.O lost 3%, Alibaba Group BABA.N dipped 1.8% and PDD Holdings PDD.O fell 2.7%.
Reporting by Lisa Mattackal in Bengaluru; Editing by Pooja Desai
Aset Berkaitan
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
