Stock Futures Lower Amid Housing Starts Data

President Biden met with Israeli Prime Minister Benjamin Netanyahu

Digital Content Manager
Oct 18, 2023 at 9:20 AM
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Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are seeing notable losses this morning. Housing starts and building permits data is already in focus, with the former accelerating in September, while the latter fell -- both at a slower-than-expected clip. With earnings season now well underway, Wall Street is unpacking U.S. President Joe Biden's meeting with Israeli Prime Minister Benjamin Netanyahu in Tel Aviv.

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

Futures 1018

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.1 million call contracts and 895,207 puts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.80 and the 21-day moving average stayed at 0.68.
  2. Morgan Stanley (NYSE:MS) stock is down 3.2% premarket, despite the bank beating earnings estimates for the third quarter, while revenue came in line with expectations. Profits diminished in comparison to previous year, however, due to lackluster dealmaking. MS is down 5.5% in 2023.
  3. The shares of Procter & Gamble Co (NYSE:PG) are up 1.9% ahead of the open, following a better-than-expected third-quarter report. The strong results come even as volume falls amid higher prices. PG is up 14.9% in the last 12 months.
  4. Abbott Laboratories (NYSE:ABT) announced a third-quarter earnings beat as demand for its medical devices picks up, and narrowed its annual profit forecast range. The security is up 2.4% before the bell, but carries a 16.1% deficit for the year.
  5. Housing starts, building permits, and the Federal Reserve's Beige Book are due out today

OV Buzz Oct 18

European Markets Lower on Middle East Tensions

Asian markets finished mixed, after China posted stronger-than-expected growth of 4.9% in the third quarter. China’s Shanghai Composite fell 0.8%, while Hong Kong’s Hang Seng dropped 0.2%. Elsewhere, Japan’s Nikkei marked a fractional gain, while the South Korean Kospi added 0.1%.

European markets are lower at last look, as investors eye corporate earnings as well as tensions in the Middle East. London’s FTSE 100 is down 0.5%, while the German DAX drops 0.4%, and the French CAC 40 moves 0.3% lower.



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