Markets Digest Mixed Earnings Reports and a Big Trade Deal

A big week for earnings has kicked off this morning with varying results. UnitedHealth is down 16.3% in premarket trading after the company forecast a sales decline for this year, potentially its first in decades. General Motors*, on the other hand, is up 4.3% premarket on the back of a positive earnings, guidance, and a dividend increase. UPS is steady after beating expectations, while American Airlines is down 1.8% premarket on mixed results. Texas Instruments reports after the close today.

US index futures are split between a 0.7% loss for Dow Futures and a 0.6% gain for NASDAQ futures as investors process earnings.

News of a free trade deal between the European Union and India has the Euro and the Pound gaining 0.4% this morning, while the Loonie is up 0.3%. European stocks are generally climbing on the news with Milan up 0.8%, Paris up 0.4%, London up 0.7% and Frankfurt steady.  Mumbai gained 0.5% overnight, while Tokyo rose 0.9% and Hong Kong climbed 1.4%.

Metals are giving back some of their recent gains. Platinum is down 8.2%, while Silver is down 4.0%, Gold is down 0.4%, and Copper is down 2.1%. Energy trading is mixed in the wake of the weekend storm with Crude Oil up 1.6% and Natural Gas down 4.0%.

*Shares of General Motors are held in some portfolios managed by SIA Wealth Management.

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