| What to watch today: Stock futures rise after S&P and Dow set new records | | |  | TUE, OCT 26, 2021 | | | | AS OF TUE, OCT 26, 2021 • 09:17 ET | | Dow Jones Fut | | 35,741.15 | | Current: | 35,716.00 | | Change: | 96.00 | | Impl. Open: | 95.85 | | | S&P 500 Fut | | 4,566.48 | | Current: | 4,574.50 | | Change: | 16.50 | | Impl. Open: | 16.52 | | | NASDAQ 100 Fut | | 15,514.19 | | Current: | 15,587.50 | | Change: | 91.75 | | Impl. Open: | 87.01 | | | Russell 2000 Mini | | 2,312.64 | | Current: | 2,315.20 | | Change: | 4.90 | | Impl. Open: | 5.06 | | U.S. stock futures were higher Tuesday morning, as Wall Street looked to build on Monday's record close for the Dow Jones Industrial Average and S&P 500. Dow futures implied an opening gain of more than 100 points, and S&P 500 and Nasdaq futures also were firmly in the green. The blue-chip Dow has risen in four of its past five sessions, while the broad S&P has posted eight positive sessions in its past nine. The tech-heavy Nasdaq, which outperformed Monday, enters Tuesday 1.15% off its record high. (CNBC)
* Treasury yields fall slightly on Tuesday (CNBC) | | | Tuesday's earnings slate is crowded. United Parcel Service (UPS) , Eli Lilly (LLY), 3M (MMM) and General Electric (GE), among others, reported before the bell. After the close, Alphabet (GOOGL), Microsoft (MSFT), Twitter (TWTR), Robinhood (HOOD) and Advanced Micro Devices (AMD) are scheduled to release results.
* UPS delivers profit, revenue beat on e-commerce demand (UPS)
* GE lifts 2021 earnings forecast, flags 'challenging operating environment' (Reuters)
* Industrial giant 3M lowers profit outlook on supply chain woes (Reuters) | | | | The Conference Board's consumer confidence index for October is due out at 10 a.m., with consensus projections calling for a reading of 108, according to Dow Jones. That would represent a decline from the latest reading of 109.3. | | | | The Census Bureau's data on September new home sales is also out at 10 a.m. The consensus estimate is a seasonally adjusted annual rate of 760,000, up from 740,000, according to Dow Jones. | | Verizon (VZ) and Amazon (AMZN) are partnering to expand rural broadband access in the U.S, the companies announced Tuesday. To do so, Verizon plans to use Amazon's coming satellite internet system, known as Project Kuiper, which last year received authorization from the Federal Communications Commission. (CNBC) | | | | The Biden administration released new details Monday on its Covid rules that will go into effect Nov. 8, when the U.S. removes curbs on international travel that had been in place since the early days of the coronavirus pandemic in 2020. Airlines will be required to check the vaccination status of passengers flying to the U.S. and collect information that can be used for contact tracing. (CNBC) | | |  | General Electric (GE) beat estimates by 14 cents a share, with quarterly profit of 57 cents per share. Revenue came in below analysts' forecasts, however. The company also reported better-than-expected free cash flow. Its shares rose 1.4% in premarket trading. | | | | Recreational vehicle maker Polaris (PII) tumbled 5.9% in premarket action after the company cut its full-year outlook, hurt by supply chain constraints. Polaris matched estimates with quarterly earnings of $1.98 per share. Revenue fell short of consensus. | | | | United Parcel Service (UPS) rallied 5% in the premarket following better-than-expected results. UPS reported quarterly earnings of $2.71 per share, 16 cents a share above estimates. Revenue also topped forecasts on strong e-commerce demand. | | | | Corning (GLW) fell 3.4% in the premarket after it reported that the automotive industry production slowdown impacted its quarterly results. The glass and specialty materials maker missed estimates by 2 cents a share, with quarterly earnings of 56 cents per share. Revenue also missed forecasts. | | | | Eli Lilly (LLY) shares gained 1% in premarket action despite a 4 cents a share quarterly earnings miss, with profit of $1.94 per share. Revenue beat forecasts, but the drugmaker spent more money during the quarter on research and development. The company also raised its full-year outlook. | | | | 3M (MMM) reported quarterly earnings of $2.45 per share, compared with a consensus estimate of $2.20 a share. Revenue exceeded Street forecasts. 3M saw increased demand during the quarter for both its consumer and industrial segments. | | | | Hasbro (HAS) beat consensus forecasts by 27 cents a share, with quarterly earnings of $1.96 per share. The toy maker's revenue matched analysts' projections. Hasbro warned that supply chain bottlenecks would hit holiday sales. | | | | The RealReal (REAL) jumped 4.8% in the premarket after Raymond James upgraded the online seller of secondhand luxury goods to outperform from market perform. Raymond James cites near-term revenue strength and the prospects for profitability growth. | | | | Coinbase (COIN) gained 2% in premarket trading after Citi began coverage of the cryptocurrency exchange operator with a buy/high-risk rating. Citi said the risk stems from exposure to the volatile crypto market but said the company will benefit from increasing adoption. | | The World Series is scheduled to get underway Tuesday. The Houston Astros and Atlanta Braves are facing off in the best-of-seven series. First pitch in Game 1 is set for 8:09 p.m. ET in Houston. | | |
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