Stock futures higher with ECB, earnings on tap
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[January 25, 2018]
By Chuck Mikolajczak
NEW YORK (Reuters) - U.S. stock index
futures advanced on Thursday as corporate earnings continue to roll in
and investors awaited a flurry of economic data and an interest rate
decision by the European Central Bank.
The ECB decision is expected at 7:45 a.m. EST (1245 GMT), with a news
conference by central bank President Mario Draghi at 8:30 a.m. EST (1330
GMT).
Draghi may pour cold water on the view that the ECB is speeding toward
an interest rate hike due to a rapidly strengthening euro even as the
euro zone economy is roaring ahead.
Earnings are expected from companies such as Dow components 3M Co <MMM.N>,
Caterpillar Inc <CAT.N> and Intel Corp <INTC.O> on Thursday.
A strong quarterly earnings season and solid economic data have helped
propel major Wall Street indexes to a strong start to the year, with
each on track for its fourth straight week of gains.

According to Thomson Reuters data through Wednesday morning, earnings
growth for the S&P 500 is expected at 12.4 percent. Of the 88 companies
in the index that have posted results, 78.4 percent have topped
expectations, while 72 percent had done so on average for the previous
four quarters.
S&P 500 e-minis <EScv1> were up 8 points, or 0.28 percent, with 125,450
contracts changing hands.
Nasdaq 100 e-minis <NQcv1> were up 37 points, or 0.53 percent, in volume
of 34,580 contracts.
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Traders work on the floor of the New York Stock Exchange shortly
after the opening bell in New York, U.S., January 23, 2018.
REUTERS/Lucas Jackson

Dow e-minis <1YMcv1> were up 62 points, or 0.24 percent, with 26,221 contracts
changing hands.
The dollar <.DXY> was modestly lower against a basket of major currencies and
held near three-year lows. The greenback suffered its biggest daily percentage
drop in seven months on Wednesday after U.S. Treasury Secretary Steven Mnuchin
said he welcomed a weaker currency.
Economic data expected includes weekly jobless claims and reports on the housing
market.
Ford Motor Co <F.N> shares fell 0.8 percent to $$11.95 in premarket trading
after the automaker posted a lower-than-expected quarterly net profit, hurt by
rising commodity costs and unfavorable currency exchange rates, and said it
expected more pain to come from higher raw material prices in 2018.
U.S. President Donald Trump arrived in Switzerland on Thursday to attend the
World Economic Forum, where he will push his "America First" agenda and seek
more favorable trade policies for the United States in a speech scheduled for
Friday.
(Reporting by Chuck Mikolajczak; Editing by Lisa Von Ahn)
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