The Breakfast Briefing: U.S. And Global Stocks Slip As Investors Look Ahead To Earnings

Ted

FYI: U.S. stock index futures were lower Tuesday morning, amid the busiest week for earnings.

At around 0454 a.m. ET, Dow futures fell 40 points, indicating a negative open of more than 23 points. Futures on the S&P and Nasdaq were mixed.

Wall Street ended Monday’s session on a strong note after the S&P 500 hit a record high. Strong earnings and news of further progress in trade talks between the U.S. and China helped boosting prices.

Stocks ticked lower as investors look ahead to corporate earnings and fresh U.S. data for cues on the health of the global economy.

The Europe Stoxx 600 declined 0.4%, led by losses in financial services and the oil and gas sectors. U.S. stock futures linked to the S&P 500 index was mostly flat a day after the gauge hit a record.

Major U.S. businesses reporting Tuesday will include private-equity giant KKR, drugmaker Pfizer, food-manufacturer Kellogg, auto maker General Motors and financial-services firm Mastercard.

Investors with interests in U.K. assets will be watching Parliament closely again for Brexit developments Tuesday. Prime Minister Boris Johnson is poised to try once more to secure an early general election on Dec. 12 to break the parliamentary deadlock over his divorce deal with the European Union.

The pound dropped 0.4% against the U.S. dollar, while the FTSE 250 index declined 0.4%.

Across Asian markets, the picture was more mixed, with the Nikkei 225 index up 0.5% while the Shanghai Composite gauge was down 0.9%.

Brent crude, the global oil benchmark, fell 0.6% to $60.88 a barrel following data showing rising U.S. inventories Monday. Investors will look at American Petroleum Institute data due out later Tuesday

Regards,
Ted

WSJ:
https://www.wsj.com/articles/global-stocks-slip-as-investors-look-ahead-to-earnings-11572341316

Bloomberg:
https://www.bloomberg.com/news/articles/2019-10-28/asia-stocks-to-gain-after-u-s-record-bonds-drop-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-google-stock-falls-beyond-meat-grubhub-dive-sp500-hits-high/

CNBC::
https://www.cnbc.com/2019/10/29/dow-futures-earnings-china-trade-talks-in-focus.html

Reuters:
https://uk.reuters.com/article/uk-usa-fed/three-peat-fed-copies-1990s-playbook-in-bid-to-avert-a-downturn-idUKKBN1X80EZ

U.K.
https://uk.reuters.com/article/uk-britain-stocks/bp-pulls-down-uk-bluechips-as-brexit-uncertainties-mount-idUKKBN1X80T1

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-take-a-breather-focus-shifts-to-fed-idUSKBN1X80T5

Asia:
https://www.marketwatch.com/story/asian-markets-little-changed-as-investors-weigh-trade-war-developments-2019-10-28/print

Bonds:
https://www.cnbc.com/2019/10/29/us-bonds-treasury-yields-tick-lower-amid-trade-optimism.html

Currencies:
https://www.cnbc.com/2019/10/29/forex-markets-us-china-trade-war-federal-reserve-in-focus.html

Oil:
https://www.cnbc.com/2019/10/29/oil-markets-us-china-trade-war-in-focus.html

Gold:
https://www.cnbc.com/2019/10/29/gold-markets-us-china-trade-talks-federal-reserve-in-focus.html

Cuirrent Futures:
https://finviz.com/futures.ashx

Old_Skeet

Good morning all. I really find favor in Ted posting this each morning. I can just click on the links for the sites I wish to visit for daily updates. Thanks again Ted for doing this each morning. It is really appreciated. Skeet

Simon

I appreciate your breakfast briefing too, Ted. Some great links in there as usual.