US stock futures rise amid another wave of big corporate profits. We’ll see that before Thursday’s meeting.
- Ford Motor shares rose more than 8% early on the market after the automaker raised its forecast.
- Caterpillar stock rose 1.5% in pre-trading hours after the maker of equipment for the construction and energy industries beat earnings estimates for the third quarter.
- Nokia’s US-listed shares rose 4% pre-launch after the company posted a projected third-quarter increase in net income and now expects full-year margins to land at the high end of its forecast range.
- Comcast shares rose 2.8% after net income doubled in the third quarter.
- Tesla shares rose 3.2% before the IPO. Hertz Global Holdings announced on Wednesday that it is partnering with Uber Technologies to provide 50,000 Teslas on Uber’s ridesharing network by 2023.
- Stanley Black & Decker’s shares fell 5% after the company lowered its estimate of its adjusted full year earnings due to rising raw material, transportation and labor costs.
- Asset manager T. Rowe Price Group’s shares rose less than 1% pre-market after the Wall Street Journal reported it agreed to buy Oak Hill Advisors for up to $ 4.2 billion to get in enter the private debt investment business.
- EBay stocks were down 5.4% after the online marketplace posted better-than-expected results for the third quarter but delivered a slightly disappointing fourth quarter outlook.
- DWAC, the blank check company that brings former President Donald Trump’s social media platform to the public, rose another 11% ahead of the market.
- Merck shares rose 1.8% ahead of the IPO after the drug maker and animal health company reported higher-than-expected earnings and sales in the third quarter and an optimistic outlook for the full year.
- Cryptocurrencies rose on Thursday, with Bitcoin rising 3.4% from its level at 5:00 p.m. ET on Wednesday, trading at $ 60,937.08. Ether rose 4.2% and Dogecoin rose more than 20% over the same period.
- Companies like Amazon.com, Starbucks and Apple will report their profits after the market closes.
Chart of the day
- The Shiba Inu coin – not to be confused with Dogecoin, which also pays homage to the Japanese dog breed – is increasing in value. It jumped on Wednesday and has doubled in value over the past week. It added an extra 40% in the last 24 hours on Thursday.
Write to Caitlin Ostroff at email@example.com