1. Catalonia calls time out: Investors are welcoming a decision by Catalonia's separatists to postpone a formal declaration of independence from Spain. Spain's benchmark stock index shot up 1.5% on Wednesday and the euro was trading higher.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -7.00 | | -1.50 | | -1.50 | | -0.03% | | -0.02% | | -0.06% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +57.76 | | +5.30 | | -4.19 | | 20,881.27 | | 3,388.28 | | 7,534.08 | | +0.28% | | +0.16% | | -0.06% | | | |
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| | | Biggest Winners | | MGM Resorts International | +2.20% | | | | Chesapeake Energy Corp | +1.79% | | | | PayPal Holdings Inc | +1.23% | | | | Colgate-Palmolive Co | +0.78% | | | Biggest Losers | | Micron Technology Inc | -3.76% | | | | Kinder Morgan Inc | -0.05% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Spain spared; NAFTA talks; Delta earnings | By Ivana Kottasová
Wednesday, October 11th, 4:41am | | | | 1. Catalonia calls time out: Investors are welcoming a decision by Catalonia's separatists to postpone a formal declaration of independence from Spain. | | | | Spain's benchmark stock index shot up 1.5% on Wednesday and the euro was trading higher. | | | | Catalan leader Carles Puigdemont backed away from the cliff edge on Tuesday, choosing to put an independence declaration on hold and instead pursue dialogue with the central government in Madrid. | | | | Spanish Prime Minister Mariano Rajoy called for an extraordinary meeting of his cabinet on Wednesday. | | | | 2. NAFTA talks: Round four of talks to renegotiate NAFTA will begin in Washington on Wednesday. | | | | The Trump administration is trying to redraft parts of the free trade agreement with Canada and Mexico that it believes are unfair. | | | | A new deal is supposed to be done by the end of 2017, but little progress on thorny issues has been reported. | | | | 3. Airlines fly high: Delta Air Lines will report earnings before the opening bell. | | | | Its competitors United Continental and American Airlines both upgraded their outlooks on Tuesday. Their shares were among the biggest risers on the market. | | | | Airlines have benefited from low fuel prices, but competition in the U.S. market is intense. | | | | 4. Global market overview: U.S. stock futures were edging lower. | | | | Markets in Europe and Asia were mixed. | | | | The Dow Jones industrial average added 0.3% on Tuesday, reaching a new all-time high. The S&P 500 gained 0.2% and the Nasdaq increased 0.1%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and companies: Asset manager BlackRock is set to release its earnings report before the opening bell. | | | | The U.S. crude inventories report for the week of October 7 will be published at 10:30 a.m. ET. | | | | OPEC's monthly oil report is also slated for release. | | | | Shares in Kobe Steel, a Japanese company that has admitted to faking data about its products, dropped another 17% in Tokyo. The scandal has now wiped away more than a third of the firm's market value. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Wednesday -- Delta earnings; BlackRock earnings
Thursday -- JPMorgan earnings; Citigroup earnings
Friday -- Bank of America earnings; Wells Fargo earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $51.34 | +0.42 / +0.82% | | | Gold | $1,291.70 | -2.10 / -0.16% | | | 10-yr | 2.34% | -0.02 / -0.68% | | | Euro | $1.18 | +0.00 / +0.06% | | | |
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