US futures point to a flat open - CNBC

U.S. stock index futures were little changed in early trading Friday as investors were set to wrap up the first week of the earnings season.

Around 7 a.m. ET, Dow Jones Industrial Average futures pointed to a gain of just 20 points at the open. S&P 500 and Nasdaq 100 futures also indicated small changes.

Around 70 S&P 500 companies have reported calendar third-quarter earnings this week. Of those companies, more than 80% have posted better-than-expected results, FactSet data shows.

Some of the companies posting stronger-than-forecast results this week include Bank of America, Netflix, J.P. Morgan Chase and Morgan Stanley. Their results helped push the major indexes higher for the week.

The Dow was up 0.8% for the week through Thursday's close. The S&P 500 and Nasdaq Composite were up 0.9% and 1.2%, respectively, for the week.

Optimism around Brexit also gave stocks a boost this week. The U.K. and European Union struck a long-awaited draft Brexit deal. British and EU officials reached the agreement after successive days of late-night talks and almost three years of tense discussions.

British Prime Minister Boris Johnson will now attempt to persuade U.K. lawmakers to back his agreement, ahead of what is expected to be a knife-edge vote on Saturday.

Still, concerns over the state of the global economy lingered. Overnight, China posted its weakest growth in nearly three decades, as the U.S.-China trade war hit demand at home and abroad. The world's second-largest economy grew 6% in the third quarter, less than expected, and its weakest pace of expansion in over 27 years.

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https://www.cnbc.com/2019/10/18/stock-market-wall-street-in-focus-amid-corporate-earnings.html

2019-10-18 06:03:28Z
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