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Oct 20, 2016

U.S. Stock Market Future Indications - October 20, 2016: U.S. Stock Futures in Holding Pattern After Debate and Ahead of Big Data Dump


www.marketwatch.com
marketwatch.com
 
Victor Reklaitis
U.S. stock futures on Thursday pointed to a muted open, as traders braced for a raft of economic data and largely shrugged off the third and final presidential debate.

Investors are waiting for readings on jobless claims, existing-home sales and a key Philly Fed index.
S&P 500 futures  ESZ6, +0.05%  inched up by 1.90 points, or 0.1%, to 2,140, while Dow Jones Industrial Average futures YMZ6, +0.08%  edged higher by 22 points, or 0.1%, to 18,147.
Nasdaq-100 futures NQZ6, +0.08%  tacked on 6 points, or 0.1%, to 4,836.25.
“Last night’s final debate of the U.S. presidential campaign appears to have passed off without initiating any significant change in sentiment for the electorate,” said Tony Cross, a market analyst for TopTradr, in a note.
“Hillary Clinton remains in the lead, according to the polls, and the fortunes of USD/MXN certainly play this out with the pair briefly testing territory as low as 18.50,” Cross added.
The Mexican peso USDMXN, +0.4416%  was lower against the dollar, after earlier rising to its highest against the buck in six weeks. The currency is seen as a good way to gauge Donald Trump’s chances in the race for the White House, and some analysts had argued its brief rally was a sign the Republican nominee hadn’t fared as well as his Democratic opponent.
Read: After a quiet start, Donald Trump takes the bait
And see: Blow by blow of the final Trump-Clinton debate
On Wednesday, the S&P 500 SPX, +0.22%  and Dow DJIA, +0.22%  both closed 0.2% higher, boosted by a rally in oil prices.
Other markets: Oil futures CLX6, -1.40% LCOZ6, -1.48%  were down, retreating after rising to a 15-month high on Wednesday. European stocks SXXP, -0.22% were lower after a European Central Bank policy decision to leave rates unchanged, as expected. Attention now turns to a news conference featuring ECB chief Mario Draghi.
ECB live blog: Mario Draghi expected to keep cards close to vest
Asian markets closed broadly higher. Gold futures GCZ6, +0.17% advanced modestly, and the ICE U.S. Dollar Index DXY, +0.04% was little changed.
Economic news: A report on weekly jobless claims is slated to hit at 8:30 a.m. Eastern Time, with economists polled by MarketWatch forecasting an increase in claims to 248,000 from 246,000 in the prior week.
At that same, an October figure for the Philadelphia Federal Reserve’s manufacturing index is due, with a reading of 7.0 anticipated.
A release on existing-home sales is expect to arrive at 10 a.m., with forecasts calling for a reading of 5.31 million.
In other economic news, New York Fed President William Dudley said late Wednesday that he expects the central bank will be able to raise interest rates before year-end.
Check out: MarketWatch’s Economic Calendar
Individual movers: Shares in Tesla Motors Inc. TSLA, +2.24%  traded lower in premarket action after the electric car maker’s product announcement late Wednesday, in which Tesla talked up new self-driving hardware that won’t work right away.
Online auctioneer eBay Inc. EBAY, +2.78%  lost ground premarket after the company gave a weak holiday forecast with its results late Wednesday, but American Express Co. AXP, +1.95%  gained after an earnings and revenue beat.
See: Dow futures’ early gain is all because of American Express
Insurer Travelers Cos. Inc. TRV, +0.91%  and telecomVerizon Communications Inc. VZ, +0.22%  were both lower after posting earnings ahead of the open, while carrierAmerican Airlines Group Inc. AAL, +3.25%  , drugstore operatorWalgreens Boots Alliance Inc. WBA, -1.15%   and coffee and donuts sellerDunkin’ Brands Group Inc. DNKN, +1.88%  were higher following its results.
The final presidential debate in 3 minutes
Donald Trump and Hillary Clinton clashed on abortion, Russia, the economy and immigration. Watch the highlights in three minutes.