Stock
futures higher as Exxon, Chevron results awaited
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[October 30, 2015]
By Abhiram Nandakumar
(Reuters) - U.S. stock index futures were
slightly higher on Friday ahead of earnings reports from energy giants
Exxon and Chevron and data on consumer spending.
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* Global markets rose as central banks kept stimulus programs
intact. U.S. stocks closed slightly lower on Thursday, weighed by
interest-rate sensitive utilities stocks.
* Brent crude held firm at around $49 per barrel, despite worries
about a supply glut. [O/R]
* U.S. consumer spending data, due at 8:30 a.m. ET, is forecast to
have risen 0.2 percent in September from a 0.4 increase in August.
* Also scheduled is the University of Michigan's final index on
consumer sentiment, which is expected to rise to 92.5 in October
from 92.1 in September. The data is due at 10:00 a.m.
* While the Federal Reserve's comments on interest rates have been
in investors' minds, the focus has largely been on quarterly
earnings reports for a reading on the impact of the global economic
slowdown on corporate health.
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* Strong results from blue-chips have helped improve analyst
sentiment, with profits at S&P 500 companies now expected to fall
1.7 percent, far less than the 4.9 percent drop forecast at the
start of earnings season, according to Thomson Reuters data.
* Abbvie's shares were up 5.1 percent at $56.88 while CVS Health
fell 0.8 percent after results.
* LinkedIn's shares shot up 12.8 percent to $244.67 premarket after
the company's quarterly results beat estimates.
* Valeant Pharmaceuticals was down 6.7 percent at $104.01 after it
said it is cutting all ties with specialty pharmacy Philidor.
* Starbucks was down 1.5 percent at $61.55 after a disappointing
profit forecast for the crucial holiday quarter.
* AB InBev's U.S.-listed shares were up 2.2 percent after the brewer
gave positive view on revenue this year.
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* The Fed's Board of Governors will hold an open meeting in
Washington on policies regarding large banking organizations.
* San Francisco Fed President John Williams is slated to take part
in a discussion on interest rates.
Futures snapshot at 7:06 a.m. ET:
* S&P 500 e-minis <ESc1> were up 2 points, or 0.1 percent, with
149,494 contracts traded.
* Nasdaq 100 e-minis <NQc1> were up 4 points, or 0.09 percent, on
volume of 23,073 contracts.
* Dow e-minis <1YMc1> were up 12 points, or 0.07 percent, with
18,040 contracts changing hands.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Saumyadeb
Chakrabarty)
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