Earnings, Trade Issues Pressure Wall Street Pre-Bell; Asia, Europe Up

MT Newswires
04-29

Wall Street futures pointed moderately lower pre-bell Tuesday as traders weighed earnings season results, and awaited clarity on China-US trade relations, and other tariff issues.

Import levies on certain imported automobile components will be adjusted, US Commerce Secretary Howard Lutnick said on Monday.

In the futures, the S&P 500 fell 0.3%, the Nasdaq declined 0.4%, but the Dow Jones was up 0.2%.

The Job Openings and Labor Turnover Survey, aka JOLTS, for March will post at 10 am ET, providing clues into the tightness of US labor markets.

Asian exchanges traded mostly higher overnight, with Tokyo closed for a holiday. European bourses tracked mostly higher in early afternoon trading.

Among companies reporting earnings, United Parcel Service (UPS) traded up by nearly 2% pre-bell after the delivery giant reported Q1 earnings and revenue above Street views.

Hilton Worldwide (HLT) traded down 2.2% pre-bell after the hotels giant reported Q1 earnings that topped outlooks, but missed on revenue and issued modestly boosted guidance.

Pfizer (PFE) slipped less than 1% pre-bell after the drugmaker reported fiscal Q1 earnings above consensus, missed on revenue, and affirmed guidance.

Leggett & Platt (LEG) traded up 15.7% pre-bell after the manufacturing conglomerate posted solid Q1 earnings and revenue, and affirmed full-year guidance, late Monday.

On the economic calendar, in addition to the JOLTS release, is the international trade in goods, and the retail and wholesale inventories reports, all for March, at 8:30 am ET.

The Case-Shiller Home Price Index, and the FHFA House Price Index, both for February post at 9 am.

The University of Michigan consumer confidence bulletin for April posts at 10 am.

In pre-market action, bitcoin traded at $94,959, West Texas Intermediate crude oil traded lower at $61.17, and 10-year US Treasuries offered 4.23%. Spot gold traded for $3,308 an ounce.
























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