Thursday January 26th

26-01-2017

US stock futures mixed amid earnings deluge

U.S. stock index futures pointed to a mixed open on Thursday after the Dow closed above 20,000 points for the first time in the previous session. Traders kept an eye on several corporate quarterly results. Biogen, NBCUniversal parent Comcast, Bristol-Myers Squibb, Caterpillar, Fiat Chrysler and Ford reported before the bell. Alphabet, Intel, Microsoft, Paypal and Starbucks are among companies due to report after the bell. On the data front, initial jobless claims jumped 22,000 to 259,000. The Markit services PMI data are also set to come out at 9:45 a.m. ET. Leading indicators and new home sales are set to be released at 10 a.m. In Europe, the pan European Stoxx 600 Index was 0.3 percent higher on Thursday. Japanese and Hong Kong shares were up more than 1 percent on Thursday, taking their cues from the Dow Jones industrial average shooting past 20,000 after a volley of executive orders by President Donald Trump. Japan's Nikkei 225 climbed 1.81 percent or 344.9 points at 19,402.39, extending Wednesday's rally of 1.43 percent. Across the Korean strait, the Kospi gained 0.81 percent or 16.7 points at 2,083.59 while Hong Kong's Hang Seng was up 1.29 percent by mid-afternoon. Mainland Chinese shares were higher. The Shanghai composite finished up 0.31 percent or 9.6 points at 3,159.16 and Shenzhen composite added 0.698 percent or 13.28 points at 1,917.31. Markets in Australia, India, Taiwan and Vietnam are closed for bank holidays. Oil prices rose on Thursday, driven up by a weakening dollar, though gains were capped by plentiful supplies and bulging inventories despite efforts by OPEC and other producers to cut output to prop up the market. Benchmark Brent crude was up 56 cents a barrel at $55.63 by 8:21 a.m. ET (1321 GMT), while U.S. light crude futures were up 35 cents at $53.10. Gold fell to a two-week low on Thursday as the dollar firmed, U.S.Treasury bond yields rose and equity markets rallied, but expectations that the greenback's climb may be coming to an end helped limit losses. Spot gold prices were down 1.1 percent at $1,187.40 an ounce, from an earlier low at $1,191.18. U.S. gold futures fell 0.9 percent to $1,186.90.