Dow Futures Up Triple Digits on Blue-Chip Earnings

Dow Jones Industrial Average (DJIA) futures are higher this morning, up triple digits as earnings season ramps up. Better-than-expected reports from Caterpillar (CAT) and 3M (MMM) are lifting the blue-chip index toward record highs, with McDonald's (MCD) stock also pointed higher after earnings. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also higher, boosted by earnings victories from the likes of General Motors (GM) and Eli Lilly (LLY).

Continue reading for more on today's market, including:

• The chart battle shaping up for small-cap stocks, according to Schaeffer's Senior V.P. of Research Todd Salamone.
• Bulls are blitzing this pair of big-cap tech stocks before earnings.
• Options traders are expecting a big move from this Apple supplier after earnings tonight.
• Plus, Impax gets an FDA nod; Fiat Chrysler's earnings; and General Electric hit with another downgrade.

1. The Chicago Board Options Exchange (CBOE) saw 1,011,712 call contracts traded on Monday, compared to 656,849 put contracts. The single-session equity put/call ratio rose to 0.65, while the 21-day moving average fell to 0.65.
2. Impax Laboratories Inc (NASDAQ:IPXL) stock is up 3.2% in electronic trading, after the company's generic Renvela tablets were approved by the Food and Drug Administration (FDA). Commercialization can begin immediately. IXPL stock is already up 53% year-to-date. 
3. Fiat Chrysler Automobiles (NYSE:FCAU) stock is up 2.8% before the bell, after the car company announced well-received earnings and reported strong NOrth American profit margins. The company also reaffirmed its full-year guidance. FCAU stock has tacked on an impressive 82% year-to-date, and touched a record high of $18.10 on Sept. 22. 
4. General Electric Company (NYSE:GE) stock received yet another downgrade this morning, this time to "hold" from "buy" at Stifel, which cited the blue chip's disappointing earnings results on Friday, as well as concerns over dividends. While GE stock is down only 0.8% before the bell, it has shed more than 7% so far in October, and nearly 30% year-to-date.
5. Advanced Micro Devices (AMD), AT&T (T), Biogen (BIIB), Capital One (COF), Chipotle Mexican Grill (CMG), Fifth Third Bancorp (FITB), JetBlue Airways (JBLU), Sherwin-Williams (SHW), and Stanley Black & Decker (SWK) will step up to the earnings plate today. Elsewhere, traders will be keeping their eyes on Markit's flash purchasing managers index (PMI), set for release at 9:45 a.m. ET.
   
   

Overseas Trading

Asian equities mostly closed higher despite the risk-off session on Wall Street. The attention continued to center around Japan’s Nikkei, which closed higher for a record 16th straight day, ending up 0.5%. As the National Congress of the Communist Party came to an end in China, the Shanghai Composite managed a 0.2% win thanks to an upbeat round of earnings. However, Hong Kong’s Hang Seng shed 0.5%. South Korea’s Kospi edged out a 0.02% win to round of the region. 

Major European benchmarks are also sporting gains today. On top of the latest round of corporate earnings, investors digested the eurozone’s latest flash purchasing managers index, which hit a two-month low. France’s CAC 40 has so far added 0.5% to lead the pack, Germany’s DAX is up 0.4%, and the FTSE 100 is 0.03% lower in London.