Tuesday April 17th


Dow is set to surge 200 points, Netflix jumps on earnings

U.S. stock index futures rose sharply ahead of Tuesday's open, as investors braced for a wave of fresh corporate earnings. Around 7:30 a.m. ET, Dow Jones industrial average futures rose 177 points, indicating an uptick of 200.96 points at the open. Nasdaq 100 and the S&P 500 futures indicated a positive start to Tuesday's session for their respective markets. Netflix was the biggest mover in the S&P 500 before the bell, rising nearly 7 percent after reporting in-line quarterly earnings and higher-than-expected subscriber growth. Johnson & Johnson, a Dow component, rose 0.8 percent in the premarket after the company reported better-than-expected quarterly earnings. Earnings season continues on Tuesday with Goldman Sachs and IBM among the companies scheduled to report. The moves in premarket trade come after a strong Wall Street finish on Monday, with the Dow Jones industrial average closing up more than 200 points. U.S. markets received a boost Monday, as fears of an escalating conflict in Syria eased temporarily. Last weekend, the U.S. military conducted missile strikes against the Syrian government, in response to a suspected chemical attack that took place in the Middle Eastern country. The strike carried out by the U.S. was done in collaboration with Britain and France. Consequently, geopolitics and tensions in the Middle East remain at the forefront of investors' minds. On the economic data front, housing starts and a business leaders survey are both scheduled to be published at 8:30 a.m. ET, followed by industrial production at 9:15 a.m. ET. Elsewhere, President Donald Trump will be hosting a two-day official working visit for Japanese Prime Minister Shinzo Abe in Florida, where the two leaders are expected to talk about peace and stability in the Indo-Pacific region, trade and investment ties. Asian markets closed mostly lower on Tuesday as investors digested the release of a raft of China data, including expectation-topping first-quarter GDP growth. The dollar also eased further while oil prices pared some overnight losses. In Tokyo, the Nikkei 225 edged up 0.06 percent, or 12.06 points, to close at 21,847.59 after trading both in and out of positive territory through the day. Over in Seoul, the Kospi shed 0.15 percent to end at 2,453.77. Greater China markets were lower after the release of key data on Tuesday. Hong Kong's Hang Seng Index eased 0.66 percent by 3:16 p.m. Mainland China markets underperformed. The Shanghai composite lost 1.39 percent to close lower for the fourth straight session at 3,067.52 and the Shenzhen composite fell 2.2 percent to 1,784.56. China's economy grew 6.8 percent in the first quarter of 2018, beating an estimate of 6.7 percent on year growth projected in a Reuters poll. Oil prices rose on Tuesday amid worries there could be a high risk of disruptions to supply, especially in the Middle East. Brent crude oil futures were at $71.69 per barrel at 0326 GMT, up 27 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 32 cents, or 0.5 percent, at $66.54 a barrel. Gold prices were steady on Tuesday as the U.S. dollar remained on the back foot, with the metal supported by festering worries over U.S.-China trade tensions. Spot gold was unchanged at $1,345.62 an ounce as of 0322 GMT.