Dow futures are pointing to a healthy rise at the open
U.S. stocks will try again to gain at the open today, after yesterday's rally attempt turned into a massive sell-off. For now, the Dow Jones Industrial Average (DJI) is eyeing a healthy jump, and futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are pointing to positive starts, as well. Traders again will be focusing on corporate earnings, including quarterly updates from blue chips Coca-Cola (KO) and Pfizer (PFE), with tech giant Facebook (FB) set to report after the close. Meanwhile, Apple (AAPL) will be grabbing headlines due to its product event later this morning.
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Asian markets ended mostly higher today, with a 1.5% jump in Japan's Nikkei setting the pace after positive employment data. Elsewhere, China's Shanghai Composite rebounded 1% after the China Securities Regulatory Commission (CSRC) issued a rare, brief statement during trading hours where it outlined plans to encourage share buybacks and boost market liquidity. South Korea's Kospi closed up 0.9% on strength in chip stocks, but Hong Kong's Hang Seng surrendered the previous session's leadership role to give up 0.9%.
European stocks are holding close to breakeven at midday, as investors weigh a mixed bag of corporate earnings and economic data. Eurozone gross domestic product (GDP) arrived at just 0.2% in the third quarter, down from 0.4% in the second quarter. The 1.7% year-over-year growth fell short of expectations for a 1.8% pace. Among individual stocks, automaker Volkswagen is rallying after earnings, while banking giant BNP Paribas and airliner Lufthansa are selling off after their quarterly results. At last check, the German DAX is down 0.2%, the French CAC 40 is off 0.09%, and London's FTSE 100 has added 0.3%.