Page One

Updated: 18-Oct-24 09:04 ET
Mixed start indicated as earnings season continues

The S&P 500 futures are up 13 points and are trading 0.2% above fair value, the Nasdaq 100 futures are up 109 points and are trading 0.6% above fair value, and the Dow Jones Industrial Average futures are down 91 points and are trading 0.2% below fair value.

Contracts tied to the S&P 500 and Nasdaq 100 are higher. The positive response to earnings news from Netflix (NFLX) has contributed to the early bias. Dow industrials futures are lower due to negative responses to earnings from American Express (AXP) and Procter & Gamble (PG).

Today's economic calendar featured September housing starts, which decreased 0.5% month-over-month to a seasonally adjusted annual rate of 1.354 million units (Briefing.com consensus 1.350 million), though single-unit starts increased 2.7% month-over-month. Building permits decreased 2.9% month-over-month to a seasonally adjusted annual rate of 1.428 million (Briefing.com consensus 1.455 million) while single-unit permits were up 0.3%.

The key takeaway from the report is that the change single-unit starts and permits varied across regions after showing across-the-board growth in August.

Treasury yields moved lower in response. The 10-yr yield, at 4.11% before the data, moved to 4.08%. The 2-yr yield, at 3.98% earlier, sits at 3.96% now.

Cookies are essential for making our site work. By using our site, you consent to the use of these cookies. Read our cookie policy to learn more.