US stock futures fall after Thursday’s rally; Big Bank Earnings Focus – Citigroup (NYSE:C), Invivyd (NASDAQ:IVVD)


Pre-open movers

U.S. equity futures traded lower in early pre-market trading on Friday after closing sharply higher in the previous session. The Dow Jones jumped more than 800 points in the previous session after the annual inflation rate in the United States fell for the third consecutive month to 8.2% in September, the lowest in seven months, against 8.3% the previous month.

September retail sales data will be released at 8:30 a.m. ET. Analysts expect retail sales to rise 0.2% in September after rising 0.3% the previous month. Import and export price data for September will be released at 8:30 a.m. ET, while business inventory data for August will be released at 10:00 a.m. ET. The University of Michigan Consumer Sentiment Index for October is due out at 10:00 a.m. ET.

Kansas City Federal Reserve Chair Esther George is scheduled to speak at 10:00 a.m. ET, while Federal Reserve Governor Lisa Cook will speak at 10:30 a.m. ET.

Investors are also awaiting the results of JPMorgan Chase & Co. JPM, Morgan Stanley MRS, Wells Fargo and company WFC, American bank USB and Citigroup Inc. VS.

Watch this: Market volatility drops following U.S. inflation data

Dow Jones Industrial Average futures fell 49 points to 30,042.00 while Standard & Poor’s 500 Index futures fell 7.50 points to 3,674.25. Nasdaq index futures fell 41.75 points to 11,042.00.


Oil prices edged lower, with Brent crude futures falling 0.1% to trade at $94.45 a barrel, while U.S. WTI crude futures fell 0, 1% to trade at $89.07 a barrel. U.S. crude oil inventories rose 9.88 million barrels in the week ending Oct. 7, the EIA said Thursday. Baker Hughes’ North American Platform Count report for the past week will be released at 1:00 p.m. ET.

Gold futures fell 0.4% to trade at $1,670.50 an ounce, while silver traded down 0.2% at $18.89 l once Friday.

An overview of global markets

European markets

European markets were up today. The STOXX Europe 600 index rose 1.1%, London’s FTSE 100 rose 1.1% while the Spanish IBEX 35 index rose 1.3%. The French CAC 40 index gained 1.1%, while the German DAX climbed 1%.

The annual inflation rate in Spain fell to 8.9% in September, from 10.5% the previous month, while the annual inflation rate in France fell to 5.6% in September, from 5, 9% the previous month. Wholesale prices in Germany rose 19.9% ​​year-on-year in September.

Asia-Pacific Markets

Asian markets rose today. Japan’s Nikkei 225 jumped 3.25%, China’s composite index rose 1.84%, while Hong Kong’s Hang Seng index gained 1.21%. Australia’s S&P/ASX 200 gained 1.8%, while India’s BSE Sensex rose 1.8%.

India’s annual wholesale price inflation rate fell to 10.70% in September from 12.41% a month ago, while total passenger vehicle sales in India increased by 9.3 % month-over-month to reach 307,389 units in September. Annual producer price inflation in China fell to 0.9%, its lowest level in 20 months, in September, while annual inflation accelerated to 2.8% year-on-year in september. People’s Bank of China Governor Yi Gang reportedly said the central bank would urge lenders to increase lending to the infrastructure, manufacturing and real estate sectors to better support the economy.

Broker recommendation

Loop Capital launched a hedge on Micron Technology, Inc. MU with a buy rating and announced a price target of $70.

Micron shares rose 0.2% to $54.94 in premarket trading.

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