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

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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.



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This article appears in: Investing , Commodities

Referenced Stocks: GS , IBM

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