Wall Street Seen Opening On Mixed Note
Wall Street is likely to see a mixed open Thursday morning, reacting to the latest batch of earnings reports and the data on jobless claims.
Jobless claims data for the week ended October 17 will be out at 8:30 AM ET.
Later, at 10 AM ET, Conference Board’s Leading Index and Coincidence Index, as well a report on existing home sales are due for release.
On the earnings front, telecom giant AT&T, Inc. reported a 24 percent decline in profit for the third quarter, primarily hurt by lower revenues across all its operating segments. Adjusted earnings for the quarter met analysts’ expectations, while quarterly revenues topped their estimates.
Tesla’s adjusted per-share earnings for the third quarter best estimates, coming in at 76 cents. The company posted a revenue of $8.77 billion in the quarter.
American Airlines Group Inc. (AAL) reported a third quarter loss per share, excluding net special items, of $5.54 compared to profit of $1.42, prior year. Excluding items, the group reported adjusted earnings of -$5.54 per share for the period, beating projected earnings of -$5.88 per share.
The Coca-Cola Company (KO) said its third quarter comparable earnings per share dropped by 2% year-on-year to $0.55.
U.S.stocks ended weak on Wednesday after a choppy session as traders kept an eye on the latest developments in Washington, as lawmakers try to reach an agreement on a new stimulus bill.
The major averages settled moderately lower. The Dow fell 97.97 points or 0.4 percent to 28,210.82, the Nasdaq dipped 31.80 points or 0.3 percent to 11,484.69 and the S&P 500 edged down 7.56 points or 0.2 percent to 3,435.56.
Asian stocks fell on Thursday after U.S. President Donald Trump accused congressional Democratic leaders of blocking a new economic relief deal, casting doubt on the prospects of a bipartisan, multi-trillion dollar stimulus deal before Election Day.
After drifting down sharply early on in the session as new coronavirus cases continued to surge, European stocks are recovering lost ground and the major European markets are up slightly in positive territory now.
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