US stocks set to open marginally lower

October 29, 2024
-FCHFX

October 29, 2024 at 01:30PM
Yields continue to move higher as markets adjust to the potential for a Trump Presidency next week, and it is making the stocks pause. The futures are currently implying:

Dow industrial average, -188 points

S&P index, -12.0 point

NASDAQ index, -6.25 points

Looking at the US yield curve:

2 year yield 4.170%, +3.0 basis points

5-year yield 4.163%, +4.9 basis points

10 year yield 4.328%, +5.0 basis points

30 year yield 4.569%, +3.9 basis points

a snapshot of the earnings this morning showed:

Sysco Corp (SYY) Q1 2025: EPS 1.09 (exp. 1.13) – Missed, Revenue 20.48bn (exp. 20.47bn) – Met

Corning Inc (GLW) Q3 2024: EPS 0.54 (exp. 0.52) – Beat, Revenue 3.73bn (exp. 3.72bn) – Beat

PayPal Holdings Inc (PYPL) Q3 2024: EPS 1.20 (exp. 1.07) – Beat, Revenue 7.85bn (exp. 7.88bn) – Met

Nokian Tyres (TYRES FH) Q3: EPS -0.03 (exp. -0.08) – Beat, Revenue 313mn (exp. 337mn) – Missed

Phillips 66 (PSX) Q3 2024: EPS 2.04 (exp. 1.68) – Beat, Revenue 34.44bn (exp. N/A)

SoFi (SOFI) Q3 2024: EPS 0.06 (exp. 0.04) – Beat, Revenue 0.68bn (exp. 0.68bn) – Met

JetBlue Airways Corp (JBLU) Q3 2024: EPS -0.16 (exp. -0.26) – Beat, Revenue 2.36bn (exp. 2.34bn) – Beat

McDonald’s Corp (MCD) Q3 2024: EPS 3.23 (exp. 3.20) – Beat, Revenue 6.87bn (exp. 6.82bn) – Beat

Pfizer Inc (PFE) Q3 2024: EPS 1.06 (exp. 0.62) – Beat, Revenue 17.7bn (exp. 14.95bn) – Beat

Royal Caribbean Cruises Ltd (RCL) Q3 2024: EPS 4.20 (exp. 5.03) – Missed, Revenue 4.9bn (exp. 4.9bn) – Met

Looking ahead, the good stuff starts to show up after the close with AMD, Alphabet, Chipotle all releasing. Tomorrow, Microsoft and Meta report and on Thursday Amazon and Apple report.

Below is the schedule of releases for the rest of the week

After Close today:

AMD

Alphabet

Snap Inc.

Chipotle

Visa

First Solar

WednesdayBefore Open:

Lilly

Caterpillar

Humana

After Close:

Microsoft

Meta

Coinbase

Robinhood

ThursdayBefore Open:

Uber

Peloton

Merck

ConocoPhillips

SiriusXM

Altria

Mastercard

After Close:

Amazon

Apple

Intel

FridayBefore Open:

FuboTV

Chevron

ExxonMobil

Wayfair

This article was written by Greg Michalowski at www.forexlive.com.

US stocks set to open marginally lower

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