Stock Market Futures Up on CAT Earnings and Busy Day for Economic News

Garrett Baldwin

Stock market news today, October 23, 2014: Good morning. Stock market futures today (Thursday) indicate a market open 123 points higher than yesterday's close. Markets slumped Wednesday afternoon after a sell-off of two important bellwether companies and a shooting at the Canadian Parliament in Ottawa spooked investors.

The most important numbers to watch today – besides the Dow – are earnings from industrial giant Caterpillar Inc. (NYSE: CAT), weekly jobless claims in the United States at 8:30 a.m., FHFA Home prices at 9:00 a.m., and leading indicators at 10 a.m. Shares of Caterpillar were up more than 4% in pre-market hours after the firm reported third-quarter earnings of $1.72 per share. Wall Street analysts predicted earnings of $1.36 per share.

Today is a big reporting day for airline companies, including American Airlines Group Inc.(Nasdaq: AAL), United Continental Holdings Inc. (NYSE: UAL), Southwest Airlines Co. (NYSE:  LUV). For a recap to today's hot stocks to watch, click here.

Here's what else you should know – including the Tip of the Day – to make your Thursday profitable:

• Energy Prices Today: Oil prices were back in positive territory after a slump yesterday. November contracts for WTI crude, priced in New York, were trading at roughly $81.59 this morning. Meanwhile, the price of Brent crude, the global benchmark priced in London, were up nearly 1.5% this morning, trading near $86 per barrel. The real focus on energy prices today is centered on negotiations between Ukraine and Russia over natural gas supplies, while the fuel is trading near $3.62 per British Thermal Unit (BTU). Our energy expert, Dr. Kent Moors joined CCTV this week to discuss the ongoing discussions in Eastern Europe and what it means for natural gas investors.
• Footwear Fumble: Shares of Under Armour Inc. (NYSE: UA) were down nearly 7% this morning in pre-market hours, despite the company reporting a huge boost in quarterly apparel and footwear sales. The company reported a combined 29% boost in these categories and raised its profit outlook for 2014. The firm reported per-share earnings of $0.41 in its third quarter, up from $0.34 per share in Q3 2013.
• What Recall?: Shares of General Motors Co. (NYSE: GM) were up more than 2.5% in pre-market hours after the company reported better-than-expected third-quarter earnings. The firm cited rising demand from China and the North American market after it reported net per-share earnings of $0.81 this morning, significantly besting its $0.45 net per share earnings in the same quarter last year.
  

Garrett Baldwin

About the Author

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Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.

Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.

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