The Breakfast Briefing: U.S. & Global Stocks Are Buoyed by Optimism Over Earnings, Trade

Ted

FYI: U.S. stock index futures were higher Monday morning.

At around 2 a.m. ET, Dow futures rose 84 points, indicating a positive open of more than 63 points. Futures on the S&P and Nasdaq were both seen also higher.

Global stocks rallied at the start of the week on optimism surrounding company earnings and speculation that the U.S. and China are edging closer to signing an initial trade deal.

Hong Kong’s benchmark Hang Seng Index rose 1.7% Monday and South Korea’s Kospi index rallied 1.4%. U.S. Commerce Secretary Wilbur Ross this weekend said that the world’s two largest economies are making “good progress” on a phase-one accord, and that licenses for U.S. companies to do business with Chinese telecom giant Huawei Technologies will be coming “very shortly.” Stock futures tied to the S&P 500 index edged up 0.4%.

The Stoxx Europe 600 index gained 0.5%, with Ryanair RYAAY 2.69% Holdings among the biggest gainers in European equities. The company’s stock rallied 6% after the budget airline posted better-than-expected profits.

Siemens Healthineers SHL +6.39% rallied 6.3% after the German medical technology company’s fiscal fourth-quarter results also beat analysts’ expectations.

A string of closely watched U.S. companies are set to report Monday, including Uber Technologies, Sprint, Marriott International and Under Armour. The sportswear maker’s results are likely to be especially closely scrutinized after The Wall Street Journal reported that Under Armour’s accounting practices are being probed by Federal authorities.

Later in the day, the U.S. Commerce Department will release data on September factory orders, providing fresh insights into the extent of a slowdown in the global manufacturing sector. Preliminary estimates show orders for durable goods decreased 1.1% in September from the previous month.


Regards,
Ted

WSJ:
https://www.wsj.com/articles/global-stocks-are-buoyed-by-optimism-over-earnings-trade-11572861532

Bloomberg:
https://www.bloomberg.com/news/articles/2019-11-03/stocks-in-asia-to-climb-aussie-gains-on-trade-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-bull-market-tesla-stock-amd-stock-near-buys-mcdonalds-ceo-fired/

CNBC::
https://www.cnbc.com/2019/11/04/dow-futures-open-us-china-trade-deal-uber-marriott.html

Reuters:
https://uk.reuters.com/article/us-usa-trade-china/china-says-xi-trump-in-continuous-touch-idUSKBN1XE0L9

U.K.
https://uk.reuters.com/article/uk-britain-stocks/trade-hopes-buoy-ftse-100-mothercare-dives-idUKKBN1XE0Q2

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-near-two-year-high-ryanair-boosts-irish-stocks-idUSKBN1XE0PK

Asia:
https://www.marketwatch.com/story/asian-markets-rise-on-renewed-hopes-for-trade-deal-2019-11-03/print

Bonds:
https://www.cnbc.com/2019/11/04/us-bonds-treasury-yields-in-focus-amid-hopes-of-us-china-trade-deal.html

Currencies:
https://www.cnbc.com/2019/11/04/forex-markets-european-central-bank-in-focus.html

Oil:
https://www.cnbc.com/2019/11/04/oil-markets-us-china-trade-in-focus.html

Gold:
https://www.cnbc.com/2019/11/04/gold-markets-us-china-trade-us-economy-in-focus.html

Cuirrent Futures:
https://finviz.com/futures.ashx