By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.S. stocks futures slumped on Thursday,
with investors worried the carnage from the previous day's
roller-coaster session will continue. A hefty lineup of Federal
Reserve speakers, and earnings from prominent companies such as
Goldman Sachs Group Inc., could steer the market.
Futures for the S&P 500 index (SPZ4) dropped 19.60 points,
or 1.1%, to 1,827.10, while those for the Dow Jones Industrial
Average (DJZ4) lost 129 points, or 0.8%, to 15,878. Futures for the
Nasdaq-100 index (NDZ4) fell 50.75 points, or 1.4%, to
3,701.25.
The weakness came after U.S. stock benchmarks flirted with their
worst daily decline in more than three years on Wednesday, although
they trimmed losses before the final bell. Read: Here's what drove
the market meltdown
Earnings: The results season continued at full speed on
Thursday, with a heavy lineup ahead of the opening bell.
Goldman Sachs (GS) reported third-quarter earnings of $4.57,
beating a consensus estimate from FactSet of $3.21. Earnings
slipped 0.3% premarket.
Delta Air Lines (DAL) dropped 2.4% after reporting third-quarter
results.
Tobacco maker Philip Morris International (PM) reported
third-quarter profit that topped expectations, but cut its
full-year outlook citing the negative impact from the currency
markets. Shares lost 2.8% premarket.
Toy maker Mattel Inc. (MAT) posted earnings and sales that fell
short of expectations as gross sales of its flagship Barbie doll
fell 21% world-wide. Shares were flat ahead of the open.
UnitedHealth Group Inc. (UNH) reported third-quarter profit of
$1.63 a share, beating estimates of EPS of $1.53. Shares, however,
slipped 0.6% in premarket trade.
Baker Hughes Inc. (BHI) shares dropped 11% ahead of the open
after the oil-field-services company reported earnings per share
that fell short of forecasts.
Movers and shakers: Netflix Inc. (NFLX) shares sank 24% in
premarket trade, after the video-streaming company on Wednesday
said its new-subscriber count fell short of its forecast of 3.69
million. It added 3.02 million new members during the quarter.
Ebay Inc. (EBAY) lost 2.8% move in Thursday's premarket trade
after the online retailer late Wednesday reported third-quarter
earnings fell to $673 million, or 54 cents a share, from $837
million, or 53 cents a share, in the year-earlier period.
Apple Inc. (AAPL) was also in the spotlight, ahead of a
scheduled event where the tech giant is expected to launch new
iPads and the latest in the iMac line.
Data: Weekly jobless claims are due at 8:30 a.m. Eastern Time,
followed by industrial production and capacity utilization data at
9:15 a.m. Eastern. At 10 a.m. Eastern, the home builders' index and
Philly Fed report for October are due.
Fed speakers: Philadelphia Fed President Charles Plosser will
speak on the economic outlook in Allentown, Pa. at 8 a.m. Eastern.
He's a voting member of the Fed's policy committee this year.
Atlanta Fed President Dennis Lockhart will talk about on U.S.
workforce development at Rutgers University in New Brunswick, NJ at
9 a.m. Eastern. Lockhart will be a voting member of the Fed's
policy committee in 2015.
Also a voting member, Minneapolis Fed President Narayana
Kocherlakota will speak on the objectives of monetary policy in
Billings, Mont. at 10 a.m. Eastern.
Finally, St. Louis President James Bullard will hold a Q&A
with Vox blogger Matthew Yglesias at 12:45 p.m. Eastern. Bullard
isn't a voting member this year.
Oil slide: Crude-oil futures continued their brutal decline on
Thursday, with the front-runner contract (CLX4) dropping below $80
a barrel, on track for the lowest settlement price since June 2012.
A Gulf official said U.S. oil prices could fall to around $70 a
barrel, suggesting that some in the Organization of the Petroleum
Exporting Countries see prices falling further.
Other markets: Europe's benchmark stock index dropped for an
eighth straight day, after closing 3.2% lower on Wednesday. Data
from Eurostat confirmed that inflation fell to an almost five-year
low of 0.3% in September. Read: European stocks slip into
correction amid 'perfect storm'
Asian markets closed mostly in the red, with the Nikkei falling
2.2%. Most metals traded lower, while the dollar rose against most
major currencies.
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