Futures mixed ahead of week packed with earnings, economic data
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Futures: Dow down 0.08%, S&P 500 up 0.10%, Nasdaq up 0.15%
Oct 14 (Reuters) -U.S. stock index futures were mixed on Monday as investors looked ahead to a week packed with third-quarter earnings reports and crucial data, seeking insights into the health of the world's largest economy.
At 5:28 a.m. ET, Dow E-minis 1YMcv1 were down 35 points, or 0.08%, U.S. S&P 500 E-minis EScv1 were up 5.75 points, or 0.10%, and Nasdaq 100 E-minis NQcv1 were up 30.5 points, or 0.15%.
Major financial companies had kicked off the third-quarter corporate earnings season on a broadly positive note on Friday, with JPMorgan Chase JPM.N, Wells Fargo WFC.N and BlackRock BLK.N rallying after the results.
Their gains propelled the Dow Jones Industrial Average .DJI and the benchmark S&P 500 .SPX to record closing highs in the previous session.
Still, with stock valuations stretched - the S&P 500 is trading at 21.7 times forward earnings, versus a long-term average of 15.7 - companies will be forced to justify them and satisfy investors.
"While the bar for earnings overall (is) beating estimates, valuations remain lofty," said Marc Ostwald, chief economist & global strategist at ADM Investor Services International.
"There will, among other things, be a very big focus on profit margins, wage costs and on (artificial intelligence) capital investment, and the extent to which companies may be delaying CapEx due to uncertainty about the outcome of the November (U.S.) elections."
Forty-one S&P 500 companies are expected to report results this week, including Bank of America BAC.N, Citigroup C.N, Johnson & Johnson JNJ.N and Netflix NFLX.O.
Year-over-year third-quarter earnings growth for the S&P 500 is estimated at 4.9%, according to LSEG data on Friday.
Investors will also eye key economic data this week, notably September retail sales, which are due on Thursday, for clues on the financial health of U.S consumers.
While traders have dialed back expectations for an outsized 50-basis-point rate cut from the Federal Reserve in November after a string of strong labor market data, bets on a 25-basis-point cut have stayed largely intact.
Markets see about a 90% chance of a rate cut in November and are expecting about two rate cuts in the remainder of the year, according to LSEG data.
Among single movers, planemaker Boeing BA.N slipped 1.9% in premarket trading after the company flagged a larger-than-expected Q3 loss on Friday and said it would cut 17,000 jobs and delay first deliveries of its 777X jet by a year.
Investment bank B. Riley Financial RILY.O leapt 19% after a report the company that the will sell its unit Great American Group to asset management firm Oaktree Capital for about $400 million.
Federal Reserve officials Christopher Waller and Neel Kashkari are scheduled to speak on the day.
Reporting by Lisa Mattackal in Bengaluru; Editing by Pooja Desai
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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.
