Stocks that are expected to trade actively in U.S. markets on Friday include: General Electric Company (NYSE:GE), Morgan Stanley (NYSE:MS), Google Inc (NASDAQ:GOOG), Schlumberger Limited. (NYSE:SLB) and Chipotle Mexican Grill, Inc. (NYSE:CMG).
Market Level
U.S.: DJIA 15371.65 (-0.01%), S&P500 1733.15 (0.67%) NASDAQ 3863.15 (0.62%)
Europe: CAC 40 4249.47 (0.25%), DAX 8815.43 (0.04%), FTSE 6591.20 (0.23%)
Asia Pacific: NIKKEI 14561.54 (-0.17%), SHANGHAI 2193.78 (0.24%), KOSPI 2052.40
(0.58%), HIS 23340.10 (1.06%), ASX 200 5321.47 (0.73%)
Commodities: OIL 100.93 (0.26%), NAT GAS 3.702 (-1.46%), Gold 1320.00 (-0.16%), Silver 22.005 (0.26%), Wheat 696.25 (1.49%), Corn 445.75 (0.62%)
Currency: EUR/USD 1.3693 (0.12%), GBP/USD 1.6186 (0.14%), USD/JPY 97.65 (-0.25%)
10 year Treasury bond: 2.557 (-0.037)
Market and Economic Update
U.S. markets impressive: Equities made a heroic come back on Thursday, with the S&P 500 recording a new high, and Dow ending the triple-digit loss to near to the flatline. The S&P 500 was up 11.61 points before closing in at 1,733.15 while NASDAQ gained 23.71 points to close at 3,863.15, hitting a new 13-year high. U.S. index futures were all up on Friday, pointing to a positive opening on Friday trading.
European markets up: European stock exchange gained on Friday backed by the anticipation that Federal Reserve will continue its stimulus as the U..S shutdown is also supporting demand. At 0734 GMT, the FTSE Eurofirst 300 surged 4.70 points or 0.4 percent at 1,272.79. The Stoxx Europe 600 index was high for the straight seventh session, which is its longest winning streak this year.
Asian markets also encouraging: the broader Nikkei stock average dropped on Friday due to selling, booking profits after rallying for almost seven sessions, and investors speculating on the effect of U.S. government shutdown on Japan. Nikkei corrected 0.2 percent to 14,561.54, after a seven-day rally through Thursday that was its longest winning streak in 7-1/2 months. Shares on Hong Kong exchange rose on Friday fueled by strong China data and strength in the Macau casino sector after Sands China posted robust quarterly results. The Hang Seng Index closed, gaining 1.1 percent for the day at 23,340.1 points, while the China Enterprises Index of the leading Chinese listings in Hong Kong surged 0.7 percent.
Stocks in News
General Electric Company (NYSE:GE)
General Electric is expected to report third quarter earnings of 35 cents per share, according to an average analyst survey by Thomson Reuters. Analyst Stephen Tusa of JP Morgan expects that GE results will not support the bullish side and has advised investors to sell at a suitable point to take the benefit.
Morgan Stanley (NYSE:MS)
Morgan Stanley is projected to post earnings of 40 cents per share for the third quarter. Citi analysts have slashed Morgan Stanley’s earnings outlook by 5 cents per share to 40 cents on lower core trading revenue primarily from its fixed income unit. Citi has assigned a Neutral rating to the stock with a price target of $30.
Google Inc (NASDAQ:GOOG)
Google posted increasing third quarter profit of $2.97 billion, or $8.75 per share from $6.53 per share in the previous fiscal period. Adjusted profits came in at $10.74. Analysts expected earnings to come in at $10.35 per share according to Thomson Reuter’s survey. Google’s shares surged 6 percent in after hours trading.
Chipotle Mexican Grill, Inc. (NYSE:CMG)
Chipotle Mexican Grill posted third quarter profit of $83.4 million, or $2.66 per share, on revenue of $826.9 million. Comparable sales for the three month period surged 6.2 percent according to the gourmet burrito chain. Shares of Chipotle surged 2 percent in the after hours.
Schlumberger Limited. (NYSE:SLB)
Schlumberger is projected to post third-quarter earnings of $1.24 a share while Baker Hughes Incorporated (NYSE:BHI) is expected to post earnings of 78 cents a share in the third quarter.
