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.
Dividend Hike: Credit card icon Visa Inc. (NYSE: V) announced plans to hike its dividend by 20%, raisings its annual dividend rate from $1.60 per share to $1.92 per share. The stock is trading up more than 1.2% this morning in pre-market hours. Last week 23 dividend stocks, including Goldman Sachs Group Inc. (NYSE: GS), also raised payouts. Here's a roundup of dividend stocks that increased payouts for the week ending Oct. 17.
Tip of the Day: The Federal Reserve plans to wind down its asset purchases this month, but Japan and the United Kingdom are still buying, full swing. Meanwhile, the European Union is just looking to get started with its stimulus efforts. That's sent the U.S. dollar into a major run up, with the euro and yen on the losing side. This adds up to a global currency conflict. And our resource expert Peter Krauth, a 20-year commodity guru and portfolio advisor, has identified a very rare, very lucrative opportunity...
Economic Calendar: Today's economic calendar features the Kansas City Fed Manufacturing Index, the weekly EIA Natural Gas Report, the Fed Balance Sheet, and update on the U.S. money supply, and the FHFA House Price Index.
Earnings Reports: Stay tuned for earnings reports from United Continental Holdings Inc. (NYSE: UAL), Under Armour Inc. (NYSE: UA), American Airlines Group Inc. (Nasdaq: AAL), Caterpillar Inc. (NYSE: CAT), Comcast Corp. (Nasdaq: CMCSA), GrubHub Inc. (Nasdaq: GRUB), Microsoft Corp. (Nasdaq: MSFT), Southwest Airlines Co. (NYSE: LUV), and Union Pacific Corp. (NYSE: UNP).
Full U.S. Economic Calendar October 23, 2014 (NYSE: all times EST):
Today's Big News: A number of companies have announced this year that they will spin off their operations into separate companies, unlocking hidden values and passing them on to shareholders. While many of the big spin-offs are scheduled to take place until next year, here's what you can do to start making money now...
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.