Thursday, April 25, 2019– UAE Time
U.S. Futures fell on Thursday ahead of earnings reports as the busiest week of the first-quarter season winds down, although Facebook and Microsoft surged in premarket trading after posting strong results after the bell on Wednesday.
Facebook (NASDAQ:FB) surged 9% after beating profit estimates and setting aside $3 billion for a settlement with the U.S. Federal Trade Commission over recent privacy scandals. Microsoft (NASDAQ:MSFT) was indicated up 5% after strong growth in cloud services led it to beat expectations with its first-quarter report.
Meanwhile, Tesla (NASDAQ:TSLA) slipped 0.8% after posting a wider-than-expected loss. CEO Elon Musk hinted the company may raise more capital, but predicted the luxury car maker would make a profit in the third quarter.
Meanwhile in Europe, Deutsche Bank (NYSE:DB) fell 0.5% after ending merger talks with Commerzbank (DE:CBKG), which fell 2.4%. The German banks cited the difficulties of combining two of the country’s biggest listed financial institutions.
Dow futures fell 115 points or 0.4% by 6:48 AM ET (10:48 GMT), while S&P 500 futures was down 1 point or 0.05%. Tech-heavy Nasdaq 100 futures inched up 12 points or 0.2%.
Financial results from United Parcel Service (NYSE:UPS), Intel (NASDAQ:INTC), Amazon (NASDAQ:AMZN), and Starbucks (NASDAQ:SBUX) are expected. 3M (NYSE:MMM) will also report.
On the economic front, jobless claims and durable goods are at 8:30 AM ET (12:30 GMT) and housing vacancies are due at 10:00 AM ET (14:00 GMT).
In commodities, crude oil rose 0.4% to $66.12 a barrel, not far from a 2019 high of $66.39 hit on Monday. Gold futures were flat at $1,279.25 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, inched up 0.1% to 97.955, also a new high for 2019.
“Published & Edited By: Senior Financial Analyst. Alaa Tabib – Gulf Brokers DMCC – Regulated & Licensed By SCA & DGCX”
“Reuters & CNN & CNBC Arabia May Have Contributed To This Article”