The S&P 500 closed Tuesday on
stronger footing after tumbling as low as 2.2% in early morning trading.
Discouraging price action in foreign markets and some disappointing earnings
contributed to early negative sentiment, but the benchmark index gradually
recouped intraday losses, finishing lower by 0.6%. There was a prevailing sense
that the morning's sell-off had left the market in an oversold condition on a short-term
Companies scheduled to report earnings this afternoon: NDLS, COF, NWE, SEIC, VMI, AGR, AMP, BXMT, CB, CHFC, CNI, CSGP, EQR, FCF, FMBI, HA, HIW, IEX, IRBT, MANH, MKSI, NAVI, NBHC, NTB, RHI, SIX, STL, TER, TRMK, TSS, TXN, UCBI, UMBF, USNA, WRB, ROIC, VAR, EW, JNPR, ILMN, RRC, ZIXI, LRN.
Futures are mixed after hours: S&P 500 futures are +2.50 vs. 2,742 fair value and Nasdaq 100 futures are -12.33 vs. 7,131 fair value.
Tomorrow morning, economic reports scheduled to be released include:
- 7:00am ET: Weekly MBA Mortgage Applications Index (Consensus NA vs. -7.1% in the prior week)
- 9:00am ET: Aug FHFA Housing Price Index (Consensus 0.3% vs. 0.2% in July)
Tomorrow before the
open the following companies are scheduled to report earnings: SCHN,
SMPL, BPOP, ITW, BABY, BKU, CHKP, EVR, HLT, POL, STM, T, TMO, APH, AVX, BA,
BCO, BOKF, BSX, DTE, FCX, FSV, GD, GRA, IR, LAD, LH, MHO, MKTX, NDAQ, NOC, NSC,
NYCB, OC, PB, RES, ROL, SCL, SIRI, SLAB, SLGN, TNC, TRVG, TUP, TZOO, UMC, UPS,
AB, ALXN, TPH, QSR, THR, CRS, TDY.
Looking at the energy market:
API petroleum data for the week ended October 19
- Crude Inventories had a build of +9.883 million barrels
- Prior week had a draw of -2.13 million barrels
- Gasoline Inventories had a draw of -2.80 million barrels
- Prior week had a draw of -3.40 million barrels
- Distillate Inventories had a draw of -2.4 million barrels
- Prior week had a draw of -0.246 million barrels
- Cushing had a build of +0.971 million barrels
- Prior week had build of +1.5 million barrels