Quick Peek at US and European Futures

US futures opened low on Wall Street on Thursday in wait for big economic data and earnings report, while European futures were pushed downward by the Catalonia events.

S&P 500 futures lost 13 points or 0.54% since early morning, 6:52am ET (11:52am GMT), while Dow futures subsided by 136 points or 0.59 after Dow hit 23,000 on Wednesday. Nasdaq 100 futures dipped by 48 points or 0.79%.

Meanwhile, Unilever (LON: ULVR) PLC dropped 4.27% in pre-market trading, after reporting low 3rd quarter earnings, while techy Apple (NASDAQ: AAPL) slumped 1.45%.

Vehicle manufacturer Fiat Chrysler Automobiles NV (NYSE: FCAU) went down by 3.43%, followed by eBay Inc (NASDAQ: EBAY), which lowered by 6.48% after reporting flat earnings in the 3rd quarter
on Wednesday.

Software leader Adobe Systems Incorporated (NASDAQ: ADBE) was following a great trend before the market bell rang this morning, surging 6.76% after it reported 2018 earnings that beat analysts’ expectations.

Biopharmaceutical market maker Juno Therapeutic (NASDAQ: JUNO) grew 5.62%.

Political Drivers

United States President Donald Trump is to meet Fed Chair Janet Yellen on Thursday and discuss about reviewing her term expiring in February. Trump’s final decision as regards the future appointee of the
Federal Reserve is expected before 3rd November. The scales seem to be tipping in favour of Stanford economist John Taylor.

European stocks were dragged down by the developments in Catalonia. The Spanish central government suspeded the autonomy of Catalonia after the region’s leaders threatened to declare independence.
In reaction, Spanish IBEX 35 slipped as much as 80 points or 0.78%, while German DAX slumped 80 points or 0.62%. In France, stocks did not do any rosier, with the CAC 40 moving downward, and losing 27 points or 0.53%.

London’s FTSE 100 dipped by 24 points or 0.33%, after the UK retail sales figure turned out to be lower than expected. The pan-European Euro Stoxx 50 went 22 points lower or 0.61%.

Gold futures though rose to $ 1,288.30 per ounce, while crude oil futures decreased to $51.44 per barrel. The US dollar index, which measures the greenback’s strength against a basket of other major currencies, slipped to 93.11.