BY THE NUMBERS
U.S. stock futures rose Tuesday as investors picked through morning Dow stock earnings and looked ahead to afternoon reports from Netflix and United Airlines. The S&P 500 and the Nasdaq on Monday both advanced for the fourth straight session. However, the Dow Jones Industrial Average bucked the uptrend, breaking a two-session winning streak. (CNBC)
U.S. oil prices, as measured by West Texas Intermediate crude, hit new seven-year highs Monday near $84 per barrel at one stage. Early Tuesday, WTI was trading above $83 per barrel. (Reuters)
Bond yields rose Tuesday after weaker U.S. housing data. The 10-year Treasury yield was trading around 1.6% following the government saying that September housing starts dropped a bigger-than-expected 1.6% and building permits declined a disappointing 7.7%. Starts and permits were revised lower in August. (CNBC)
IN THE NEWS TODAY
Johnson & Johnson (JNJ) said in Tuesday's earnings report that it sold $502 million of its Covid vaccine in the third quarter. Per-share profit exceeded expectations, while revenue fell short. The Dow stock fell in the premarket. The New York Times reports the FDA is expected to clear J&J and Moderna boosters and allow mix-and-match shots this week. Then the CDC will weigh in. Pfizer boosters were authorized last month. (CNBC)
Procter & Gamble (PG), a Dow component, fell more than 1% in the premarket after the consumer products giant on Tuesday reported better-than-expected earnings and revenue in its fiscal first quarter. However, higher costs were a drag on profit, which was slightly lower than the same quarter a year ago. Revenue grew just 5%. (CNBC)
Dow stock Travelers (TRV) jumped 3.3% in premarket action after it beat top and bottom line estimates for the third quarter. Travelers earned $2.60 per share, well above the $1.67 a share consensus estimate, helped by strong investment and underwriting results. (Reuters)
Bitcoin rallied again Tuesday, trading above $62,000 and approaching April's all-time highs near $65,000. With a summer slump that sent bitcoin briefly below $29,000 in the rear view, traders have been powering the world's largest cryptocurrency higher in advance of Tuesday's launch of the first U.S. bitcoin futures exchange-traded fund. (CNBC)
The SEC said online brokerages, enticed to increase revenue through the controversial industry practice of payment for order flow, are turning stock trading into a game in order to encourage activity from retail investors. Wall Street's main regulator on Monday released its highly anticipated report on the GameStop mania earlier this year. (CNBC)
Amazon (AMZN) on Tuesday released new data touting the success of sellers on its third-party marketplace, launched in 2000, as scrutiny mounts from lawmakers of its private-label business practices. In recent months, lawmakers, antitrust watchdogs and advocacy groups have voiced growing concerns around Amazon's treatment of those sellers. (CNBC)
A House committee tasked with investigating the Jan. 6 Capitol insurrection is moving swiftly Tuesday to hold at least one of Donald Trump's allies in contempt, with the former president pushing back on the probe in a new lawsuit. Trump is aggressively trying to block the committee's work by directing former White House aide Steve Bannon not to answer questions. (AP)
The Supreme Court has agreed to a request from abortion-rights advocates and providers to quickly consider taking up their challenge of a restrictive Texas law that bans most abortions after as early as six weeks of pregnancy. The petitioners last month had submitted the unusual request for the Supreme Court to hear the case before final judgment in lower courts. (CNBC)
STOCKS TO WATCH
Walmart (WMT) added roughly 2% in the premarket after Goldman Sachs added the retailer's stock to its "Conviction Buy" list, citing the company's increasing ability to generate earnings growth.
Shares of Atea Pharmaceuticals (AVIR) crashed 75% in premarket trading after a mid-stage trial of the company's Covid treatment failed to meet the main goal of reducing the amount of in non-hospitalized patients with mild or moderate disease. Atea is working with Roche on the oral antiviral drug.
Halliburton (HAL) matched forecasts, with quarterly profit of 28 cents per share. Revenue fell short of analysts' predictions. Halliburton results were helped by rising oil prices, and the company expects that trend to continue. The oilfield services company shares fell 1% in premarket trading.
Philip Morris International (PM) came in 3 cents a share ahead of estimates, with quarterly earnings of $1.58 per share. An increase in shipment volumes helped revenue rise above forecasts as well.
Bank of New York Mellon (BK) came in 3 cents a share ahead of estimates, with quarterly earnings of $1.04 per share. Revenue also came in above consensus, benefiting from funds released from credit loss provisions, as well as increased fee income.
Zions Bancorp (ZION) beat estimates by 10 cents a share, with quarterly earnings of $1.45 per share. The bank's revenue fell below Wall Street forecasts. Zions said loan demand has recovered after several weak quarters. Its stock slid 2.1% in the premarket.
Alibaba (BABA) announced it has developed a custom computer chip that the China-based tech giant will use to power its data center servers. The chip will not be available for use outside of Alibaba. The stock gained 1.8% in the premarket.
Sinclair Broadcast Group (SBGI) is still working to contain a cybersecurity breach that disrupted operations throughout its TV broadcast stations and networks. The company said it could not yet determine if the disruption will have a material impact on its financial results.