US Stock Futures Retreat as Budget, Debt Deal Relief Give Way to Profit-Taking


US stock futures slipped Thursday amid profit-taking after a deal in Washington - that put an end to more than two weeks of a government shutdown and raised the debt ceiling to narrowly avert a default. Stocks rallied ahead of the deal yesterday.

Meanwhile, the weekly jobless claims report showed that initial claims fell by a less-than-expected 16,000 to 358,000, missing the 330,000 consensus.

In equities, Goldman Sachs ( GS ) fell 2.67% before the market open after reporting revenue fell to $6.72 billion from $8.35 billion and missing the $7.22 billion consensus estimate. The bank's Q3 EPS beat expectations. IBM ( IBM ) also disappointed with its earnings last night, falling 7.19% pre-bell as revenue was nearly a billion dollars below expectations.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: GS , IBM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by