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| US Market |
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| NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | |
| Stocks futures are pointing to a mild dip at the start of Wednesday's session, as traders book some of their profits from the recent surge in stock prices. Wall Street is considering new economic data, as well as earnings from the likes of AMD (AMD) and AT&T (T).
U.S. stocks continued their recent upward momentum on Tuesday. The Dow Jones Industrial Average set another new record high after strong earnings from heavy-hitters Caterpillar (CAT) and 3M (MMM). Markets have been gaining ground recently, helped by low interest rates and promises of U.S. tax reform from the Trump administration.
The Dow Jones Industrial Average rose 174 points, or 0.8%, to 23,447. The S&P 500 was up 3.5 points, or 0.1%, to 2,568. The Nasdaq Composite rose 13 points, or 0.2%, to 6,599.
AT&T Inc. (T) is among the big names that will move on earnings news today. The company reported a third-quarter profit that dropped from a year ago, as revenues fell short of expectations. Earnings for the company also failed to meet Wall Street estimates.
The telecom giant's third-quarter profit declined to $3.0 billion or $0.49 per share from $3.3 billion or $0.54 per share last year. Excluding special items, adjusted earnings were $0.74 per share. On average, 23 analysts polled by Thomson Reuters expected earnings of $0.75 per share for the quarter. |
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| US Economic Reports |
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| CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
| Orders for long-lasting manufacturing goods surged in September, according to new government statistics released Wednesday. The increase was more than economists had expected.
The U.S. Department of Commerce reported that durable goods orders rose by 2.2% in September. Economists had expected the figure to rise by 1.0%.
Excluding the volatile transportation sector, orders were up 0.7 percent in the month.
Later today, the government will release figures on new home sales. Economists are looking for the figure to dip in September compared to the previous month. The stat is expected to show an annual rate of 555,000 units. |
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| Europe markets |
| European stocks were broadly higher on Wednesday as investors digested a slew of earnings reports as well as encouraging business confidence data from Germany.
U.K. shares edged lower as a pullback in metals prices weighed on miners and better-than-expected GDP data increased the likelihood that the Bank of England will raise interest rates on Nov. 2.
Market participants looked ahead to Thursday's ECB meeting to see whether ECB President Mario Draghi will signal an eventual end of bond purchases. |
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| Asia markets |
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| USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
| Asian stocks finished broadly higher on Wednesday after the strong showing in the U.S. overnight. However, Japanese shares finished lower, snapping a 16-day winning streak.
With the profit taking in Japan, the Nikkei average dropped 97.55 points or 0.45 percent to finish at 21,707.62, ending its longest winning streak on record. The broader Topix index closed 0.31 percent lower at 1,751.43.
Meanwhile, China's Shanghai Composite index edged up 8.65 points or 0.26 percent to 3,396.90 as investors awaited the announcement by Chinese President Xi Jinping later in the day of new members of the Politburo Standing Committee, the country's supreme political body. |
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| Commodity, Currency Markets |
| Gold extended overnight losses on firmer equities and the dollar held near a three- month high versus the yen. Meanwhile, oil prices held steady near four-week highs after Saudi Arabia's pledge to end a supply glut. |
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