Coming off of a mixed Monday, US index futures are down 0.3% to 0.5% this morning as investors digest a flurry of earnings reports and await several big names reporting after the close this afternoon. In Europe today, the Dax is flat and the FTSE is down 0.2% as investors across the pond also sift through earnings numbers.
The US Dollar is climbing this morning, gaining 0.5% against Gold, 2.7% against Silver, and 0.3%-0.4% against the Euro, Pound and Loonie. A rising greenback also appears to have put a headwind in front of commodities with Copper dropping 2.4%, and WTI Crude Oil sliding 0.8%.
US earnings season is back underway today with a number of sector leaders from the Industrials and Consumer Products sectors beating expectations. Highlights include: General Electric* ($0.27 vs street $0.14), General Motors ($2.21 vs street $1.72), 3M ($1.97 vs street $1.58), Danaher ($2.36 vs street $2.26), Pepsico ($1.50 vs street $1.38), Whirlpool ($2.66 vs street $2.15) and McDonalds ($2.63 vs street $2.33). This afternoon’s slate of US reports is dominated by Big Tech companies like Alphabet, Microsoft, and Texas Instruments, plus Visa and Chipotle Mexican Grill* from other sectors.
Canadian earnings season has started off strong with Canadian National Railway topping expectations ($1.82 vs street $1.72). Today, results are due from West Fraser Timber and First Quantum Minerals*.
It’s a quiet morning for news so far but there are a number of housing related reports on the way including the US House Price Index and the S&P/Case-Schiller Home Price Index at 9:00 am EST, followed by New Home Sales at 10:00 am.
*Shares of General Electric, First Quantum Minerals and Chipotle Mexican Grill are held in some portfolios managed by SIA Wealth Management.