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Every morning we put out a news report with the latest news in global stock markets, company news, and global economic news.

Morning Market Update

Market Levels

 * US: Dow Futures: 13480.00 (-0.07%), S&P 500 Futures: 1452.60 (-0.31%), NASDAQ Futures: 2757.75 (-0.46%)

* Europe: CAC: 3510.83 (-0.47%), DAX: 7403.99 (0.13%), FTSE: 5901.24 (-0.16%).

* Asia-Pacific: Australia: 4559.40 (0.69%), China: 2131.69 (1.22%), Hong Kong: 21518.71 (0.47%), India: 5718.70 (1.03%), Japan: 8982.86 (1.96%).

* Metals: Gold: 1742.20 (-0.62%), Silver: 32.86 (-1.12%), Copper: 3.74 (-0.24%)

* Energy: Crude Oil: 91.46 (-0.72%), Natural Gas: 3.46 (-0.14%)

* Commodities: Corn: 7.49 (0.91%), Soya Bean: 15.24 (1.26%), Wheat: 8.63 (1.18%)

* Currency: EUR/USD: 1.3093 (-0.19%), GBP/USD: 1.6127 (-0.14%), USD/JPY: 78.2700 (0.38%)

* 10 year US Treasury: 1.798% (-0.020)

Financial and Economic News Update

U.S. stock-index futures down: U.S. stock-index futures are pointing to a lower open on Thursday after weekly applications for U.S. unemployment benefits jumped to the highest in four months. The Labor Department said unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000. Google Inc (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT) are slated to report earnings after the closing bell.

European markets trading modestly lower: European markets are trading lower on Thursday with the German DAX (INDEXDB:DAX) up 0.1 percent at 7403.99, the FTSE 100 (INDEXFTSE:UKX) down 0.2 percent at 5901.24 and the CAC 40 (INDEXEURO:PX1) lost 0.5 percent to 3510.83. The euro zone blue-chip ESTX 50 PR.EUR (INDEXSTOXX:SX5E) (Euro Stoxx 50) was trading 0.5 percent lower

Asian markets end higher: Asian markets closed higher on Thursday with the HANG SENG INDEX (INDEXHANGSENG:HIS) ending up 0.5 percent at 21,518.7, while the SSE Composite Index (SHA:000001) (Shanghai Composite Index) gained 1.2 percent. Japan’s NIKKEI 225 (INDEXNIKKEI:NI225) soared 2 percent to end at 8,982.86. The S&P/ASX 200 (INDEXASX:XJO) index climbed 31.2 points to 4,559.4, the highest close since late July 2011. The benchmark Indian 30-share BSE SENSITIVE (INDEXBOM:SENSEX) index edged up 0.9 percent at 18,782.9.

Company News Update

 U.S.

* Morgan Stanley (NYSE:MS) reported third quarter earnings excluding items of 28 cents a share, 4 cents above the average analysts’ estimate. Stripping out an accounting charge related to tightening from debt-related credit spreads, revenue was up 18 percent to $7.55 billion.

* Verizon Communications Inc. (NYSE:VZ) posted third quarter earnings excluding items of 64 cents per share, in line with analysts’ expectations. Revenue for the period increased to $29 billion from $27.91 billion, a year earlier, also topping estimates of $28.96 billion.

* Philip Morris International Inc. (NYSE:PM) reported third quarter adjusted profit of $1.38 a share from $1.37 a year ago. Net revenue, excluding excise tax, declined 5.3 percent to $7.92 billion. Analysts had projected earnings of $1.39 a share on revenue of $8.24 billion.

* The Travelers Companies, Inc. (NYSE:TRV) reported third quarter net profit of $867 million, or $2.21 per share, compared with a net profit of $333 million, or 79 cents per share, in the year-ago period. Operating profit for the quarter came in at $2.22 per share, the highest in the company’s history. Analysts had expected earnings of $1.61 per share.

* Railroad company Union Pacific Corporation (NYSE:UNP) said third-quarter profit increased 15 percent to $1.04 billion, or $2.19 a share, from $904 million, or $1.85 a share, in same period last year. Revenue gained 5 percent to $5.34 billion from $5.1 billion, a year earlier. Analysts were looking at earnings of $2.18 a share on sales of $5.38 billion.

* Private-equity giant The Blackstone Group L.P. (NYSE:BX) reported third quarter economic net income of 55 cents a unit versus a loss of 34 cents in the year-ago period. Assets under management stood at $205 billion at the end of September, up 30 percent from the same period last year.

* BB&T Corporation (NYSE:BBT) said third quarter profit rose to $469 million, or 66 cents per share, from $366 million, or 52 cents per share, in the year ago period. Revenue increased 8.1 percent to $1.12 billion. Analysts had projected profit of 71 cents on revenue of $2.46 billion.

* Snap-on Incorporated (NYSE:SNA) said third quarter profit rose 9.3 percent to $74.1 million, or $1.26 a share, from $67.8 million, or $1.16 a share, in the year-ago quarter. Sales rose 2.1 percent to $711.6 million. Wall Street analysts had projected earnings of $1.23 on revenue of $707 million.

* Medical-products company Baxter International Inc. (NYSE:BAX) reported third quarter earnings excluding items of $1.14 a share, on revenue of $3.48 billion. Analysts had expected the company to report earnings of $1.14 per share on revenues of $3.52 billion.

* Diamond Offshore Drilling, Inc. (NYSE:DO) said third quarter profit fell 31 percent to $178.2 million, or $1.28 a share, from $256.9 million, or $1.85 a share, in the year-ago quarter. Revenue slid 17 percent to $729.1 million. Analysts had projected the contract driller to earn $1.02 a share on revenue of $735 million.

* Boston Scientific Corporation (NYSE:BSX) reported third quarter adjusted earnings of 16 cents a share, on revenue of $1.74 billion. Analysts had forecast earnings of 11 cents a share on sales of $1.77 billion

* Regional bank Fifth Third Bancorp (NASDAQ:FITB) said third quarter profit fell 5 percent to $354 million, or 38 cents per share, from $373 million, or 40 cents per share, in the same period last year. Revenue edged 0.7 percent higher to $1.58 billion. Analysts were looking for a profit of 38 cents on $1.57 billion in revenue.

* KeyCorp (NYSE:KEY) reported a profit of $219 million, or 23 cents a share, from $217 million, or 22 cents a share, a year earlier. Revenue gained 8.1 percent to $1.12 billion. Analysts had forecast a profit of 21 cents on $1.03 billion in revenue.

* Diversified manufacturer Danaher Corporation (NYSE:DHR) said third-quarter profit rose 4.8 percent to $548.7 million, or 77 cents a share, up from $523.4 million, or 74 cents a share, in the same period last year. Revenue for the period came in at $4.42 billion. Analysts expected 79 cents per share on $4.51 billion in revenue. The company lowered its full-year earnings-per-share estimate.

 Europe

* Nokia Corporation (NYSE:NOK) said third-quarter underlying loss excluding one-time items stood at 0.07 euros per share compared to a profit of 0.03 euros per share in the year-ago period. Analysts were expecting a loss of 0.11 euros per share.

* Miners were among the biggest gainers in London, with Kazakhmys plc (LON:KAZ) up 2.1 percent and Vedanta Resources plc (LON:VED) climbing 1.7 percent. Eurasian Natural Resources Corporation (LON:ENRC) rose 1.9 percent, while Antofagasta plc (LON:ANTO) added 1 percent. Rio Tinto plc (NYSE:RIO) (LON:RIO) (ASX:RIO) edged up 1.2 percent, and BHP Billiton Limited  (NYSE:BHP) (ASX:BHP) (LON:BLT) gained 1 percent.

* Dutch paint maker Akzo Nobel N.V. (AMS:AKZA) is down 5

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