Thursday October 13th

13-10-2016

US stock futures slide as traders digest earnings, data

U.S. stock index futures pointed to a sharply lower open on Thursday as traders digested the release of data and earnings. Dow futures traded more than 100 points lower, while S&P and Nasdaq futures fell 13.75 and 32 points, respectively. Infosys is among the companies due to report after the bell. Friday will see Citigroup, JPMorgan and Wells Fargo report. Delta Air Lines reported mixed results Thursday, with earnings per share beating expectations while revenues missed. Winnebago also posted quarterly results before the bell. On the data front, jobless claims held at a 43-year low last week, while U.S. import prices rose less than expected. Export prices, meanwhile, rose 0.3 percent. Thursday will also see Philadelphia Fed President Patrick Harker speak on the economic outlook at the World Affairs Council of Philadelphia. In Europe, the pan-European Stoxx-600 index was 1.14 percent lower on Thursday. In Asia, Japan's Nikkei closed 0.39 percent lower. The Shanghai Composite in China closed 0.09 percent higher. In oil markets, Brent crude traded at $51.69 a barrel on Thursday, down 0.23 percent, while U.S. crude was around $50.05 a barrel, down 0.25 percent, after breaking below the key $50 mark. Gold edged up on Thursday on a weaker dollar and as equities plunged on soft Chinese trade data that stoked concerns about the health of the world's No.2 economy. Spot gold was up 0.1 percent at $1,259.26 an ounce, while U.S. gold futures advanced 0.3 percent to $1,258.30 an ounce.