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Jan 20, 2017

U.S. Stock Market Futures Indications Update - January 20, 2017:

marketwatch.com
 
Victor Reklaitis, Ryan Vlastelica
U.S. stock futures inched up Friday as investors largely avoided big bets ahead of Donald Trump’s inauguration as the nation’s 45th president.


Trump’s inaugural address will be closely watched, with traders “looking for an indication on where the economy lands on his list of priorities and which policy changes he is likely to pursue first,” said Colin Cieszynski, chief market strategist at CMC Markets, in a note. “The rubber hits the road, and markets shift from speculating on what he may do to reacting to what he actually does (or doesn’t do),” Cieszynski wrote.
Stocks rallied in the wake of Trump’s underdog election, with indexes hitting a series of records as investors bet that he would pursue massive corporate tax cuts, deregulation, and infrastructure spending, all of which are expected to accelerate economic growth and stoke inflation. However, the gains have stalled of late as market participants look for proof that the rise will justified by policy actions. Major indexes are on track for a week of losses.
S&P 500 futures  ESH7, +0.22% gained 5.2 points, or 0.2%, to 2,266.75, while Dow Jones Industrial Average futures YMH7, +0.11%  added 21 points, or 0.1%, to 19,715. Nasdaq-100 futures NQH7, +0.25%  tacked on 13 points, or 0.2%, to 5,066.50.
The swearing-in ceremony is slated to begin at 11:30 a.m. Eastern Time.
Check out: Why the stock bulls will keep trampling over your Trump fears
And see: S&P 500’s biggest winners and losers during the Obama era
The three gauges are on track to lose between 0.5% and 0.8% for the week, as of Thursday’s close. The Dow on Thursday turned negative for the year to date, down 0.2%. All three benchmarks stand roughly 1% below their record closes achieved in recent weeks.
Read: How stocks perform in a new president’s first 100 days
And see: Trump inauguration sparks anxiety among some investors
Bill de Blasio, Robert De Niro lead protest against Trump's inauguration
More than a thousand demonstrators joined New York Mayor Bill de Blasio and a number of celebrities in front of the Trump International Hotel and Tower, protesting Donald Trump's imminent inauguration.
Individual movers: Shares in IBM IBM, +0.01%  traded 2% lower in premarket action, though they had jumped in late trading Thursday as the tech giant posted better-than-expected earnings.
See: IBM at least has improved at predicting its revenue declines
American Express Co.’s stock AXP, -1.03% also fell 2% premarket after the credit card company’s quarterly earnings missed forecasts, but revenue beat estimates.
Procter & Gamble Co. PG, -0.27% rose about 2% in premarket trading after it reported a drop in sales that was smaller than expected.
General Electric Co. GE, -0.06% dropped 1% premarket after the conglomerate’s quarterly revenue drop was larger than expected, while Procter & Gamble Co. PG, -0.27%  rose 2% after better-than-anticipated earnings. IBM, AmEx, P&G, and GE are all Dow components.
Bristol-Myers Squibb Co. BMY, -1.03%  tumbled 7.2% in premarket trading after the pharmaceutical company said it wouldn’t pursue accelerated approval for a lung cancer combination treatment.
Skyworks Solutions Inc. SWKS, -1.02%  climbed 8% after the chip supplier to Apple Inc. AAPL, -0.18%  posted better-than-expected quarterly results, while also unveiling a $500 million stock-repurchase program.
Other markets: Oil futures CLG7, +2.14%  traded higher, while European stocks SXXP, -0.04% were little changed. Chinese stocks gained on stronger-than-expected economic growth to end 2016, but Asian shares overall logged modest declines. Gold futures GCG7, +0.11%  were roughly flat, and a key dollar index DXY, +0.08% gained.
Economic news: Philadelphia Federal Reserve President Patrick Harker is due to give a speech to a New Jersey Bankers Association forum at 9 a.m. Eastern Time.
On Thursday, Federal Reserve chief Janet Yellen indicated she wasn't worried about the surge in inflation and signaled she saw no reason to rapidly raise interest rates.
There are no releases of top-tier U.S. economic data expected.
Check out: MarketWatch’s Economic Calendar