MARKET SNAPSHOT: Morgan Stanley, Housing Starts Could Help Decide Direction For Wall Street

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By Barbara Kollmeyer, MarketWatch

Halliburton, Morgan Stanley, Supervalu to report

Stock futures traded flat on Wednesday, as investors looked for direction from earnings to come from corporate heavyweights such as Halliburton Co. and Morgan Stanley, as well as housing starts data.

Read:Chart watcher: stop comparing 2016 stock market to 1987 ( comparing-2016-stock-market-to-1987-2016-10-18)

Dow Jones Industrial Average futures slipped 0.6 point to 18,063, while S&P 500 futures eased 1 point to 2,131.25 and Nasdaq-100 futures fell 7.5 points to 4,819.50.

Stocks closed higher on Tuesday ( inflation-data-loom-2016-10-18), buoyed by a batch of upbeat results from Goldman Sachs Group Inc. (GS), UnitedHealth Group Inc. (UNH) and Netflix Inc (NFLX).

Read: The stock market has been losing its grip on rallies at 3 distinct times during the day (http://

( 2016-10-18)Higher oil prices failed to spark stock futures. Crude prices rose atop $51 a barrel on Wednesday (http://, a 1.6% gain. The gains came as Saudi Arabia's oil minister Khalid A. Al-Falih spoke at a London conference. He said improving fundamentals and market rebalancing will continue to aid the market's recovery and that many non-OPEC countries are willing to join a potential deal to cut global oil output ( opec-countries-willing-to-join-output-deal-2016-10-19).


Data showing U.S. crude inventories likely fell in the week ended Oct. 14 were helping to lift prices. Official data will be released later from the Energy Information Administration.

Data ahead: Housing starts and building permits for September will be released at 8:30 a.m Eastern Time. The Federal Reserve's Beige Book will be released at 2 p.m. Eastern.

Data released Tuesday on inflation and home-builder confidence did nothing to sway opinions that the Federal Reserve will likely raise interest rates in December.

Read: The stock market has been losing its grip on rallies at 3 distinct times during the day (http://

Stocks to watch:Supervalu Inc.(SVU), Halliburton Co.(HAL), Morgan Stanley( MS ) and Reynolds American Inc.(RAI) will report ahead of the market's open.

Results from American Express Co.(AXP), Mattel Inc.(MAT), eBay Inc. (EBAY) and Six Flags Entertainment Corp.(SIX) are due after the close.

Intel Corp.(INTC) posted higher earnings late Tuesday, but the chip group's outlook disappointed (http:// and shares fell more than 3%.

Visa Inc.(V) raised its dividend 18% ( 2016-10-18) a day after Chief Executive Charlie Scharf stepped down.

Read:The Intel money pit: Renovations cost more, no results in sight ( money-pit-renovations-cost-more-no-results-in-sight-2016-10-18)

Other markets: The Stoxx Europe 600 index ( track-gains-in-oil-prices-2016-10-19) logged moderate losses, while Asian stocks ( asian-markets-rise-as-china-reports-healthy-growth-2016-10-18) finished mixed. The Shanghai Composite Index closed flat after data showed better-than-expected growth ( 2016-10-18) in China, but slower industrial production.

Gold prices rose moderately, up $2.20 to $1,265.10 an ounce.

Read:Why gold will rise no matter who becomes the next president ( no-matter-who-becomes-the-next-us-president-2016-10-18)

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This article appears in: Energy , US Markets , Economy , Commodities
Referenced Symbols: MS

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