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Shares of Dow component Verizon were off 2.5 percent in
premarket trading after the wireless carrier reported a drop in
quarterly revenue.
American Express, also a Dow component, jumped 6.3 percent after
its strong results and forecast.
Oil prices fell 1.6 percent on profit taking, a day after U.S.
crude touched a 15-month high. [O/R]
In a widely expected decision, the European Central Bank kept
interest rates unchanged. President Mario Draghi said monetary
policy cannot stay in place forever, but added the ECB did not
discuss either ending its asset-buying program or extending it
during its latest meeting.
More people perceived Democrat Hillary Clinton to have won the
third and final U.S. presidential debate than her Republican
rival Donald Trump.
Clinton, favored by the markets as her policies are clearer, was
also perceived to have also won the previous debates, with the
markets rising each time.
While markets have been fretting over central bank policies and
the race for the White House, the immediate focus is the
corporate earnings season in which S&P 500 companies are
expected to have snapped a four-quarter earnings recession.
"Today is going to be earnings driven, but with no real clear
direction in the market," said Scott Brown, chief economist at
Raymond James in St. Petersburg, Florida.
About 80 percent of the 70 S&P 500 companies that had reported
results until Wednesday beat profit estimates. Earnings are now
expected to rise 0.5 percent in the third quarter, according to
Thomson Reuters I/B/E/S.
Dow e-minis <1YMc1> were down 27 points, or 0.15 percent at 8:58
a.m. ET, with 26,481 contracts changing hands.
S&P 500 e-minis <ESc1> were down 2.75 points, or 0.13 percent,
with 157,499 contracts traded.
Nasdaq 100 e-minis <NQc1> were down 4 points, or 0.08 percent,
on volume of 22,714 contracts.
Among S&P components, Mattel <MAT.O> rose 7 percent after the
toymaker reported a quarterly profit that beat estimates.
But, eBay <EBAY.O> tumbled 8.6 percent after it gave a
disappointing forecast for the current quarter.
Microsoft <MSFT.O>, Schlumberger <SLB.N> and PayPal <PYPL.O> are
scheduled to report after markets close.
A report from the Labor Department showed the number of
Americans filing for unemployment benefit rose
more-than-expected last week, but remained below a level that is
associated with a strong labor market.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Savio D'Souza)
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