MARKET SNAPSHOT: Dow Futures Rise By 200 Points As
Post# of 23081
Posted On: 01/19/2016 6:29:27 AM
MARKET SNAPSHOT: Dow Futures Rise By 200 Points As Stocks Try To Rebound
Source: Dow Jones News
By Victor Reklaitis, MarketWatch
Asian, European markets gain after Chinese economic report
U.S. stock futures pointed to a higher open Tuesday, putting the market on track to rebound a little from its worst 10-session start to a year ever.
The step up came as Asian and European stocks gained, with analysts saying a report on Chinese economic growth spurred stimulus hopes and comforted investors who had feared worse.
U.S. investors, returning from a three-day weekend, also will be digesting a reading on housing and quarterly earnings from Bank of America Corp., UnitedHealth Group Inc. and Delta Air Lines Inc.
S&P 500 futures rose by 25 points, or 1.3%, to 1,900, while Dow Jones Industrial Average futures advanced by 205 points, or 1.3%, to 16,117. Nasdaq 100 futures tacked on 58 points, or 1.4%, to 4,198.75.
The S&P and Dow have dropped 8% and 8.3% so far this year as of Friday's close, suffering their worst 10 trading days at the beginning of a year ever (http://www.marketwatch.com/story/dow-set-for-triple-digit-drop-as-oil-breaks-under-30-2016-01-15). On Monday, U.S. stock exchanges were closed for the Martin Luther King Jr. holiday (http://www.marketwatch.com/story/which-markets-are-closed-on-martin-luther-king-day-2016-01-15).
Economic news:China's government said the nation's growth rate moderated (http://www.marketwatch.com/story/chinas-2015-economic-growth-slowest-in-25-years-2016-01-19) to 6.8% for the fourth quarter and 6.9% for 2015. The annual pace was the weakest in 25 years, and the quarterly level missed expectations. But analysts said investors now hope Beijing will ramp up stimulus and noted that Chinese markets have already sold off sharply this year.
"The added measures could now be imminent," said James Hughes, chief market analyst at GKFX, in a note, referring to the possible fresh stimulus efforts. He said investors "could well get an announcement before the start of the New Year celebrations at the beginning of February."
In U.S. economic news, a January figure for a home builders' index is due at 10 a.m. Eastern Time, with economics polled by MarketWatch expecting a reading of 62.
Other markets:Asian markets closed higher (http://www.marketwatch.com/story/china-stocks-surge-as-gdp-triggers-expectations-of-beijing-stimulus-2016-01-19), as China's Shanghai Composite finished up 3.2% and scored its first back-to-back session rises this year. European stocks gained, and oil futures (http://www.marketwatch.com/story/oil-creeps-higher-as-investors-absorb-weak-china-data-2016-01-19) also traded higher. Gold futures edged lower, while a key dollar index inched up.
Individual movers: Twitter Inc. shares (TWTR) could see active trading as the social network struggled with a service outage early Tuesday (http://www.theverge.com/2016/1/18/10786714/apple-samsung-child-labor-cobalt-congo-amnesty).
Bank of America Corp. (BAC) , UnitedHealth Group Inc. (UNH) , Delta Air Lines Inc. (DAL) and Morgan Stanley (MS) are slated to report earnings before the open. Netflix Inc. (NFLX) and IBM (IBM) are due to post results after the close.
Read more: Woeful earnings threaten to intensify stock-market bloodbath (http://www.marketwatch.com/story/woeful-earnings-threaten-to-intensify-stock-market-bloodbath-2016-01-15)
Amazon.com Inc. (AMZN) shares rose in thin premarket action after a report (http://www.marketwatch.com/story/amazon-mulls-bid-for-retailer-ocado-report-2016-01-19) by the U.K.'s Daily Mail that "Amazon may be about to deliver a tie-up with Ocado," a British online supermarket.
Apple Inc. (AAPL) , tech rivals like Samsung Electronics Co. (005930.SE) and car markers are facing accusations from Amnesty International that their batteries could contain cobalt mined by child laborers. The report said the cobalt is mined by children as young as seven in the Democratic Republic of the Congo, a Verge article said (http://www.theverge.com/2016/1/18/10786714/apple-samsung-child-labor-cobalt-congo-amnesty).
(END) Dow Jones Newswires
January 19, 2016 05:19 ET (10:19 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Source: Dow Jones News
By Victor Reklaitis, MarketWatch
Asian, European markets gain after Chinese economic report
U.S. stock futures pointed to a higher open Tuesday, putting the market on track to rebound a little from its worst 10-session start to a year ever.
The step up came as Asian and European stocks gained, with analysts saying a report on Chinese economic growth spurred stimulus hopes and comforted investors who had feared worse.
U.S. investors, returning from a three-day weekend, also will be digesting a reading on housing and quarterly earnings from Bank of America Corp., UnitedHealth Group Inc. and Delta Air Lines Inc.
S&P 500 futures rose by 25 points, or 1.3%, to 1,900, while Dow Jones Industrial Average futures advanced by 205 points, or 1.3%, to 16,117. Nasdaq 100 futures tacked on 58 points, or 1.4%, to 4,198.75.
The S&P and Dow have dropped 8% and 8.3% so far this year as of Friday's close, suffering their worst 10 trading days at the beginning of a year ever (http://www.marketwatch.com/story/dow-set-for-triple-digit-drop-as-oil-breaks-under-30-2016-01-15). On Monday, U.S. stock exchanges were closed for the Martin Luther King Jr. holiday (http://www.marketwatch.com/story/which-markets-are-closed-on-martin-luther-king-day-2016-01-15).
Economic news:China's government said the nation's growth rate moderated (http://www.marketwatch.com/story/chinas-2015-economic-growth-slowest-in-25-years-2016-01-19) to 6.8% for the fourth quarter and 6.9% for 2015. The annual pace was the weakest in 25 years, and the quarterly level missed expectations. But analysts said investors now hope Beijing will ramp up stimulus and noted that Chinese markets have already sold off sharply this year.
"The added measures could now be imminent," said James Hughes, chief market analyst at GKFX, in a note, referring to the possible fresh stimulus efforts. He said investors "could well get an announcement before the start of the New Year celebrations at the beginning of February."
In U.S. economic news, a January figure for a home builders' index is due at 10 a.m. Eastern Time, with economics polled by MarketWatch expecting a reading of 62.
Other markets:Asian markets closed higher (http://www.marketwatch.com/story/china-stocks-surge-as-gdp-triggers-expectations-of-beijing-stimulus-2016-01-19), as China's Shanghai Composite finished up 3.2% and scored its first back-to-back session rises this year. European stocks gained, and oil futures (http://www.marketwatch.com/story/oil-creeps-higher-as-investors-absorb-weak-china-data-2016-01-19) also traded higher. Gold futures edged lower, while a key dollar index inched up.
Individual movers: Twitter Inc. shares (TWTR) could see active trading as the social network struggled with a service outage early Tuesday (http://www.theverge.com/2016/1/18/10786714/apple-samsung-child-labor-cobalt-congo-amnesty).
Bank of America Corp. (BAC) , UnitedHealth Group Inc. (UNH) , Delta Air Lines Inc. (DAL) and Morgan Stanley (MS) are slated to report earnings before the open. Netflix Inc. (NFLX) and IBM (IBM) are due to post results after the close.
Read more: Woeful earnings threaten to intensify stock-market bloodbath (http://www.marketwatch.com/story/woeful-earnings-threaten-to-intensify-stock-market-bloodbath-2016-01-15)
Amazon.com Inc. (AMZN) shares rose in thin premarket action after a report (http://www.marketwatch.com/story/amazon-mulls-bid-for-retailer-ocado-report-2016-01-19) by the U.K.'s Daily Mail that "Amazon may be about to deliver a tie-up with Ocado," a British online supermarket.
Apple Inc. (AAPL) , tech rivals like Samsung Electronics Co. (005930.SE) and car markers are facing accusations from Amnesty International that their batteries could contain cobalt mined by child laborers. The report said the cobalt is mined by children as young as seven in the Democratic Republic of the Congo, a Verge article said (http://www.theverge.com/2016/1/18/10786714/apple-samsung-child-labor-cobalt-congo-amnesty).
(END) Dow Jones Newswires
January 19, 2016 05:19 ET (10:19 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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