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 October 12, 2017 - 8:40 AM EDT
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Early Slip Foreseen for U.S. Markets

Early Slip Foreseen for U.S. Markets

Futures for equities south of the line pointed to a slightly weaker open Thursday, as investors turned their attention to new earnings reports from leading U.S. banks.

Futures for the Dow Jones Industrials listed lower 21 points, or 0.1%, to 22,794.

S&P 500 futures slid 4.25 points, or 0.2%, to 2,548.75, while futures on the NASDAQ Composite index sifted off 4.25 points, or 0.1%, to 6,078.25.

Major earnings are set to dominate some discussion on Wall Street, as Citigroup and Domino's Pizza are set to post their latest financial figures. JPMorgan Chase posted better-than-expected earnings, but also reported a decline in bond trading revenue, which sent the stock lower in the pre-market.

Looking to data, jobless claims and Producer Price Index (PPI) data were set to come out early this morning, to be followed by the Treasury budget, due out at 2 p.m. ET.

On Thursday, investors are likely still to be still digesting the latest minutes published by the Federal Open Market Committee, after Wall Street finished higher Wednesday following the release.

In the latest FOMC minutes, the U.S. central bank indicated that an interest rate hike later in 2017 was almost certain, even if low inflation continues to weigh on sentiment. The minutes are expected to be of key importance Thursday as leading members from the U.S. Federal Reserve are set to deliver speeches.

Overseas, European stocks were mixed approaching noon on the continent Monday, while Japan's Nikkei 225 climbed 0.4%, while in Hong Kong, the Hang Seng Index gained 0.2%.

Oil prices lost 70 cents to $50.60 U.S. per barrel.

Gold prices hiked $8.20 to $1,296.90 U.S. an ounce.


Source: Livemoney US Market Commentary (October 12, 2017 - 8:40 AM EDT)

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