Stocks Poised For Another Positive Session As Upbeat Earnings, Chinese Data Drives Futures Higher

Stock futures are higher as bullish Chinese economic data and upbeat earnings from Google ( GOOG ), Morgan Stanley ( MS ) and Schlumberger ( SLB ) help to restore investor confidence after yesterday's volatile session. Coupled with a sub-2.60% yield in the Treasury 10 year note providing an interest-rate friendly environment, the equity markets are shrugging off recent events within Congress and looking for extend gains for a third straight day.

European markets are also higher in the wake of a better than expected increase in China's GDP, retail sales and industrial production. In addition, encouraging political developments in Germany drove the DAX to another record high with Chancellor Angela Merkel closer to forming a coalition government with the Social Democratic Party.

-Dow Jones Industrial up 0.13%

-S&P 500 futures up 0.23%

-Nasdaq 100 futures up 0.51%


Nikkei down 0.17%

Hang Seng up 1.06%

Shanghai Composite up 0.24%

FTSE-100 up 0.45%

DAX-30 up 0.23%


(+) Large cap tech: higher

(-) Chip stocks: lower

(-) Software stocks: lower

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+) Drug stocks: higher

(+) Financial stocks: higher

(+/-) Retail stocks: flat

(+) Industrial stocks: higher

(+/-) Airlines: flat

(+) Autos higher


GOOG (+9.14%) Beat expectations with non-GAAP EPS of $10.74.

MS (+3.70%) Reported Q3 EPS of $0.50 and revenue of $7.90 bln, vs.consensus of $0.41 and $7.52 bln, respectively.

CMG (+7.85%) Q3 revenue increased 18.0% to $826.9 million and diluted earnings per share was $2.66, an increase of 17.2% versus expectations of $820 million in revenue and earnings of $2.78.


ARIA (-28.44%) Ariad is discontinuing the Phase 3 EPIC trial of Iclusig in patients with newly diagnosed chronic myeloid leukemia. FDA is investigating the drug in response to cardiac-related side effects

ISRG (-7.31%) The stock was downgraded by Northland Capital to Underperform from Market Perform and price target cut nearly $100

AMD (-11.74%) The chip-maker reported a quarterly profit for the first time since early 2012, but was less optimistic about the current period than analysts expected

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

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

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

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