Earnings have beaten projections at 76 percent of the 210 companies that have posted results so far this reporting period, while 53 percent exceeded sales projections, data compiled by Bloomberg show. Jobless claims decreased by 12,000 to 350,000 in the week ended Oct. 19 from a revised 362,000 in the prior period, the Labor Department said. The median forecast of 48 economists surveyed by Bloomberg called for a decrease to 340,000.
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The 17-nation currency rose 0.2 percent versus the yen. The dollar was little changed at 97.32 yen. Norways krone rose 0.3 percent to 8.1313 per euro after the central bank left its benchmark interest rate unchanged and said the currency had depreciated since its last meeting. Italys 10-year yield climbed four basis points to 4.16 percent as a report showed consumer confidence fell for the first time in five months. Spains 10-year yield rose three basis points to 4.16 percent. The yield on 10-year Treasury notes fell two basis points to 2.49 percent.
The thing that is disappointing is top-line revenue and those are not good signs,” said Keith Bliss, senior vice-president at Cuttone & Co in New York. “So what is going to drive the market from that point is going to be Washington policy and Fed policy.” S&P 500 futures rose 6.4 points and were above fair value, visit this page a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 67 points and Nasdaq 100 futures added 11.75 points. U.S. stocks fell on Wednesday as shares of heavy-equipment maker Caterpillar and semiconductor companies tumbled after they reported earnings, ending the S&P 500’s four-session streak of record high finishes. Dow component 3M Co reported a 6 percent rise in quarterly profit due to higher sales across all its businesses.
World stocks rise on better Chinese manufacturing
The main focus later will be on weekly jobless claims numbers as well as the next batch of corporate earnings from the likes of Colgate-Palmolive, Ford, Herschey and Xerox. In the foreign exchange markets, the euro remained well-supported despite concerns over the eurozone’s growth. On Wednesday, the euro rose above $1.38 for the first time since Nov. 2011, largely because the dollar has lost support following the debt stalemate in Washington and expectations the Federal Reserve won’t reduce its monetary stimulus until next year. The euro was up 0.2 percent at $1.3803, just shy of its near two-year high of $1.3822. The dollar was flat at 97.33 yen.