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Mixed Corporate Earnings Stifle US Equity Futures Pre-Bell
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Mixed Corporate Earnings Stifle US Equity Futures Pre-Bell
Oct 15, 2024 8:19 AM

08:50 AM EDT, 10/15/2024 (MT Newswires) -- US equity futures were flat ahead of Tuesday's opening bell as investors evaluated mixed earnings from major US firms.

The Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures were all nearly flat.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.9% at $74.39 per barrel and US West Texas Intermediate crude 4.3% lower at $70.67 per barrel.

The Empire State Manufacturing Index, released at 8:30 am ET, came in at minus 11.9 in October versus September's 11.5 reading and estimates compiled by Bloomberg for 3.6.

In other world markets, Japan's Nikkei closed 0.8% higher, Hong Kong's Hang Seng ended 3.7% lower, and China's Shanghai Composite finished 2.5% lower. Meanwhile, UK's FTSE 100 fell 0.4%, and Germany's DAX index gained 0.3% in Europe's early afternoon session.

In equities, shares of UnitedHealth Group ( UNH ) were 4% lower pre-bell after the healthcare firm cut the top end of its full-year 2024 adjusted profit outlook range. Johnson & Johnson ( JNJ ) shares fell 1.2% after the company reported lower fiscal Q3 adjusted profit and cut its full-year profit guidance.

On the winning side, Bank of America ( BAC ) shares gained 1.8% after the bank reported Q3 earnings and revenue that beat analysts' projections. Citigroup ( C ) shares increased 2.2% after posting Q3 earnings and revenue that topped Street estimates. Wolfspeed ( WOLF ) shares surged 29% after the company said it expects up to $2.5 billion in additional capital from a combination of sources.

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