MARKET SNAPSHOT: Dow Set To Claw Its Way Back From Triple-digit Loss As Oil Prices Rebound
April 20 2017 - 7:10AM
Dow Jones News
By Barbara Kollmeyer, MarketWatch
Philip Morris, Blackstone, Visa among the earnings ahead
U.S. stock futures pointed to gains for Wall Street on Thursday,
as oil prices rebounded from the sharpest loss in weeks.
Investors were looking ahead to a fresh batch of corporate
results and economic data such as weekly jobless claims.
Dow Jones Industrial Average futures rose 43 points, or 0.2%, to
20,379, while S&P 500 futures gained 6.55 points, or 0.3%, to
2,340.25. Nasdaq-100 rose 16.75 points, or 0.3%, to 5,414.50.
Dragged south by losses for energy stocks and for International
Business Machine Corp.(IBM) , the Dow industrials fell 118.79
points to 20,404.49 on Wednesday,
(http://www.marketwatch.com/story/us-stocks-primed-to-edge-higher-as-earnings-stay-center-stage-2017-04-19)
marking the lowest close for the blue-chip benchmark since Feb.
10.
The S&P 500 closed down 4.02 points to 2,338.17, but the
Nasdaq Composite bucked the negative trend to finish up 0.2% to
5,863.03.
West Texas Intermediate crude futures for May were rising, up
0.7% at $50.79 a barrel. Prices were recovering after a surprise
climb in U.S. gasoline supplies helped push prices to their biggest
one-day loss in six weeks
(http://www.marketwatch.com/story/oil-steadies-as-investors-await-eia-inventory-report-2017-04-19)
on Wednesday. That decline dragged in the energy sector.
On Thursday, Saudi Arabia's energy minister, Khalid al-Falih,
said the Organization of the Petroleum Exporting Countries is
likely to reach a deal to extend the group's production cuts into
the latter half of 2017
(http://www.marketwatch.com/story/opec-set-to-extend-output-deal-says-saudi-energy-minister-2017-04-20).
Economic front: An update on weekly jobless claims is set for
release at 8:30 a.m. Eastern Time, as is the Philly Fed index for
April. A reading on leading indicators in March follows at 10 a.m.
Eastern.
As for Federal Reserve speakers, Fed Governor Jerome Powell is
scheduled to talk about capital markets, growth and the economy of
tomorrow at the Global Finance Forum in Washington D.C. at 8 a.m.
Eastern.
Earnings ahead: Financial updates from Philip Morris
International Inc.(PM) , Travelers Cos. Inc.(TRV) , PPG Industries
Inc.(PPG) , Blackstone Group L.P.(BX) , Verizon Communications
Inc.(VZ) are expected ahead of the open.
Visa Inc.(V) and Mattel Inc.(MAT) are due to report after the
close.
EBay Inc.(EBAY) shares fell nearly 2% in premarket trade. The
online retailer posted earnings and in-line guidance
(http://www.marketwatch.com/story/ebay-stock-falls-2-after-quarterly-earnings-2017-04-19)
for the new fiscal year late Wednesday.
Qualcomm Inc.(QCOM) shares gained 2.4% premarket after the chip
designer beat earnings expectations
(http://www.marketwatch.com/story/qualcomm-gains-after-beating-earnings-expectations-despite-apple-legal-beef-2017-04-19).
Other markets: The Nikkei 225 Index rose for a fourth straight
session, leading a recovery for Asia markets
(http://www.marketwatch.com/story/nikkei-up-for-4th-straight-session-leading-asian-market-recovery-2017-04-19)
. European stocks were marginally higher, while the U.K.'s FTSE 100
index
(http://www.marketwatch.com/story/unilever-shares-push-ftse-toward-first-win-in-5-days-2017-04-20)
drifted south.
However, the French CAC 40 index rallied 1%
(http://www.marketwatch.com/story/french-stocks-rise-ahead-of-european-peers-despite-election-worries-2017-04-20)
after one poll signalled a win for centrist Emmanuel Macron in
Sunday's first-round presidential election. The euro shot to a
three-week high against the dollar of $1.0778.
Read:Here's how France's hotly contested election could spark
market turmoil
(http://www.marketwatch.com/story/heres-how-frances-hotly-contested-election-could-spark-market-turmoil-2017-04-19)
Gold prices were pointing modestly south.
(END) Dow Jones Newswires
April 20, 2017 06:55 ET (10:55 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
FTSE 100
Index Chart
From Mar 2024 to Apr 2024
FTSE 100
Index Chart
From Apr 2023 to Apr 2024