Tuesday, January 24, 2017

Tuesday, January 24, Morning Global Market Roundup: Futures Point To A Lower Open On Wall Street; Earnings Eyed

By Sam Meredith
January 24, 2017

U.S. stock index futures pointed to a lower open on Tuesday morning as traders focused on a slew of earnings reports.

On the data front, Tuesday will see Purchasing Managers Index (PMI) released at 9.45 a.m ET with existing home sales and Richmond Fed survey data due at 10 a.m ET.

On the earnings front major companies set to report before the bell includes; 3M, Alibaba, DuPont, Johnson & Johnson, Travelers and Verizon. Texas Instruments, Alcoa, Capital One, Discover Financial, Intuitive Surgical, Seagate Technology and Stryker are all due to report after the market close.

In Europe, the pan-European Stoxx-600 index was around 0.16 percent higher on Tuesday morning. In Asia, the Shanghai Composite in China closed 0.2 percent higher, while the Nikkei in Japan closed 0.55 percent lower.

In oil markets, Brent crude traded at around $55.63 a barrel on Tuesday morning, up 0.78 percent, while U.S. crude was around $53.16 a barrel, up 0.78 percent.

Oil prices moved higher on Tuesday after evidence that OPEC and other oil exporters would commit to reducing production however an increase in drilling in the U.S. could cap further gains.

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