1. GE in the spotlight: General Electric is set to report its latest results before the opening bell. The company, once a reliable symbol of American success, is in turmoil. Its shares have dropped 25% this year while the wider market has boomed and the economy has strengthened.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +85.00 | | +9.75 | | +5.25 | | +0.37% | | +0.16% | | +0.21% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +9.12 | | +8.48 | | +17.44 | | 21,457.64 | | 3,378.65 | | 7,540.48 | | +0.04% | | +0.25% | | +0.23% | | | |
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| | | Biggest Winners | | PayPal Holdings Inc | +3.94% | | | | Synchrony Financial | +1.73% | | | | Goldman Sachs Group Inc | +0.91% | | | | Morgan Stanley | +0.90% | | | Biggest Losers | | Celgene Corp | -6.06% | | | | PulteGroup Inc | -2.09% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | GE in the spotlight; Japan election; May in Brussels | By Ivana Kottasová
Friday, October 20th, 5:03am | | | | 1. GE in the spotlight: General Electric is set to report its latest results before the opening bell. | | | | The company, once a reliable symbol of American success, is in turmoil. Its shares have dropped 25% this year while the wider market has boomed and the economy has strengthened. | | | | Jeff Immelt stepped down as CEO this summer, and a wider management shakeup has so far failed to impress investors. | | | | The new CEO, John Flannery, will likely face questions about his vision for stabilizing the company on Friday. GE's free cash flow, a key metric of financial health, has declined for six straight years. | | | | 2. Japan election: Shinzo Abe is hoping to secure another term as prime minister in national elections on Sunday. | | | | Japan's economic growth has revved up over the past few quarters and business confidence is now at its highest level in a decade, but there are still plenty of problems facing the world's third biggest economy. | | | | The country is heavily indebted, wage growth is anemic and Japan Inc. has been hit by a series of scandals. | | | | The latest snafu erupted earlier this month when Kobe Steel admitting to falsifying data. Other stumbles included Takata's deadly airbags, Mitsubishi Motors' fudged fuel-efficiency tests and Toshiba's damaging debacles over its accounting and nuclear power business. | | | | 3. May in Brussels: The British pound was under pressure as European Union leaders met in Brussels. | | | | British Prime Minister Theresa May is attempting to use the summit as an opportunity to achieve a breakthrough in stalled Brexit talks. | | | | Investors fear Britain could crash out of the EU without a deal, an event that would have profound implications for the country's economy. | | | | 4. Global market overview: U.S. stock futures were pointing up. | | | | European markets opened higher, following the trend set by stocks in Asia. | | | | The Dow Jones industrial average and the S&P 500 posted minor gains on Thursday to close at new record highs. | | | | The Nasdaq dropped 0.3%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: Honeywell and Procter & Gamble will release earnings before the open. | | | | Shares in Volvo were almost 7% higher after the automaker reported healthy sales and an optimistic outlook. | | | | Swiss Re, one of the world's biggest reinsurers, said it expects its losses from hurricanes Harvey, Irma and Maria and earthquakes in Mexico to total $3.6 billion. | | | | The U.S. existing home sales report for September is set to be released at 10 a.m. ET. | | | | The Czech Republic is holding elections on Friday and Saturday. It's the latest country in Europe to see a spike in anti-EU sentiment despite having a relatively strong economy. | | | | Investors will also be monitoring developments in Catalonia, where the separatist regional government remains locked in a political conflict with Madrid. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | | Friday -- Earnings from General Electric and Procter & Gamble. | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $50.97 | -0.54 / -1.05% | | | Gold | $1,282.00 | -8.00 / -0.62% | | | 10-yr | 2.32% | -0.02 / -0.77% | | | Euro | $1.18 | -0.00 / -0.41% | | | |
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