U.S Futures sliding - Watch NFLX, SNAP, BIIB, WORK, TXN


The S&P 500 Futures are slightly red after they closed higher yesterday

Trading floor 2

The S&P 500 Futures are slightly red after they closed higher yesterday. House Speaker Nancy Pelosi said in an interview that she is hopeful for an agreement on a fiscal stimulus package this week.

Later today, the U.S. Federal Reserve will release its latest economic report, the Beige Book.

European indices are on the downside. The U.K. Office for National Statistics has reported September CPI at +0.4% (+0.5% on month expected). September PPI was released at -0.1% on month, vs +0.1% the previous month. This morning, EU chief negotiator Michel Barnier declared that EU stance on Brexit will not change and that progress must be made on level playing field, fisheries and governance.

Asian indices closed on the upside except the Chinese CSI.

WTI Crude Oil futures are turning down. The American Petroleum Institute (API) reported that U.S. crude-oil inventories rose 584K barrels in the week ending October 16. Later today, the U.S. Energy Information Administration (EIA) will release official crude oil inventories data for the same period.

Gold gains ground as the U.S dollar remains weak on U.S stimulus hopes.

Gold gained 11.85 dollars (+0.62%) to 1918.8 dollars.

The dollar index fell 0.32pt to 92.744.

U.S. Equity Snapshot

Netflix (NFLX), the video streaming service, tanked after hours after posting third quarter subscriber growth and EPS that missed estimates. On the other hand, sale came above expectations.

Source: TradingView, GAIN Capital

Snap (SNAP), a camera and social media company, soared in extended trading after reporting third quarter adjusted EPS of 0.01 dollar, beating expectations, vs an adjusted LPS of 0.04 dollar a year ago, on sales up 52% to 679 million dollars, above estimates. Daily active users rose 19% to 249 million, exceeding consensus.

Biogen Idec (BIIB), a pharmaceutical company, reported quarterly adjusted EPS above estimates. Also, the company cut its full year sales forecast.

Slack Technologies (WORK), the collaboration hub, was downgraded to "underweight" from "equalweight" at Morgan Stanley.

Texas Instruments (TXN), a designer of semiconductors, unveiled third quarter EPS of 1.45 dollar, above estimates, down from 1.49 dollar a year ago, on sales around flat at 3.8 billion dollars, better than expected. Separately, the company raised its fourth quarter EPS and revenue forecast.

Thermo Fisher Scientific (TMO), the scientific instruments maker, is jumping before hours after reporting third quarter adjusted EPS and sales that significantly beat estimates.

Pinterest (PINS), the social media platform, is expected to rally at the open after BofA upgraded the stock to "buy" from "neutral".

Interactive Brokers (IBKR), a global proprietary trading business, disclosed third quarter adjusted EPS of 0.53 dollar, missing the consensus, up from 0.39 dollar a year earlier. 

Occidental Petroleum (OXY), an energy exploration and production company, was downgraded to "hold" from "buy" at Truist.

Gap (GPS), a clothing and accessories retailer, said it is starting a strategic review of options for its business in Europe.

More from Equities


This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit cityindex.com.sg for the complete Risk Disclosure Statement.