Earnings-Heavy Week Looms, Driving Premarket Losses for US Equity Futures

MT Newswires Live
21 Oct 2024

US equity futures dropped Monday premarket ahead of a busy week of quarterly updates from Corporate America.

Dow Jones Industrial Average futures slipped 0.1%, S&P 500 futures declined 0.3%, and Nasdaq futures were down 0.5%.

Technology firms Amazon (AMZN) and Tesla (TSLA) are some of the highlights for this week's earnings slate.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.5% at $74.14 per barrel and US West Texas Intermediate crude 1.8% higher at $69.90 per barrel.

The US index of leading economic indicators, scheduled for release at 10 am ET, is seen dropping by 0.3% in September following a 0.2% downtick in the previous month, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.07% lower, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, UK's FTSE 100 declined 0.3% and Germany's DAX 30 index fell 0.8%, while France's CAC 40 also was down 0.8% and Spain's IBEX 35 was off 0.5% in Europe's early afternoon session.

In equities, Siyata Mobile (SYTA) shares surged 143% pre-bell after the company said that T-Mobile (TMUS) will start offering the company's mission-critical push-to-talk 5G cellular radio handsets.

On the losing side, ServiceNow (NOW) shares fell 1.6% after Morgan Stanley downgraded the stock to equalweight from an overweight rating.

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