Wall Street Set To Open Lower Ahead Of Final Presidential Debate
WASHINGTON (dpa-AFX) - U.S. stocks look set to open flat to slightly lower on Wednesday as investors look to the third and last presidential debate between Democratic nominee Hillary Clinton and Republican nominee Donald Trump taking place from 9 p.m.to 10:30 p.m. ET tonight at the University of Nevada, Las Vegas.
While many national polls continue to show a swing favoring Clinton, there is much divergence on the size of her lead.
Besides the crucial presidential debate, investor sentiment could be swayed by oil price movements, housing data, the Bank of Canada's interest-rate decision and another batch of earnings from companies such as Halliburton, Morgan Stanley, Reynolds American and Supervalu due before the opening bell. Results from American Express, Mattel and eBay are due after the market close.
The Dow futures are currently down 4 points and the S&P 500 futures are declining 1.15 points while the Nasdaq futures are moving down 7.75 points.
Stocks ended Tuesday's session notably higher in reaction to rising oil prices, mixed readings on consumer price inflation and homebuilder confidence, and better-than-expected corporate results from the likes of Netflix, Goldman Sachs Group and UnitedHealth Group.
After the U.S. closing bell on Tuesday, Intel reported better-than-expected quarterly earnings and revenue, but issued a downbeat guidance for the current quarter.
Yahoo also reported better-than-expected quarterly adjusted profit despite concerns of a data breach and growing doubts about its impending acquisition by Verizon.
Meanwhile, Visa has raised its quarterly dividend, a day after announcing the resignation of its CEO Charlie Scharf.
Walmart's subscription-free, premium video streaming service Vudu has launched Vudu Movies on Us, offering thousands of HD movies and TV shows with limited commercials for free.
Speculation is rife that tech giant Apple Inc. is planning to dump the standard USB port in favor of USB Type C from its new MacBook Pro.
The day's economic calendar remains somewhat light today, with investors eyeing the Commerce Department's report on housing starts and building permits along with the Federal Reserve's Beige Book for additional clues on the outlook for interest rates.
The dollar index remains on the back foot in European trade and Treasury yields ticked lower after a more modest rise in U.S. core consumer prices eased pressure on the Federal Reserve to tighten monetary policy.
Crude oil futures are rising and gold is consolidating recent gains to trade at its highest level in nearly two weeks after a slew of key economic data out of China largely met expectations.
China's GDP expanded an annual 6.7 percent in the third quarter of 2016 - in line with expectations and unchanged from the Q2 reading. Industrial output gained an annual 6.1 percent in September - shy of forecasts for 6.4 percent and down from 6.3 percent in August, while retail sales and fixed asset investment growth matched forecasts.
Asian stocks closed mostly higher, although gains remained capped somewhat ahead of Thursday's ECB meeting. European shares are trading marginally lower after a slew of weak earnings updates.
Copyright RTT News/dpa-AFX
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