Stocks – U.S. Futures Rise As GE, Coca-Cola Report Earnings


Stocks - U.S. Futures Rise As GE, Coca-Cola Report Earnings – U.S. futures were slightly higher on Tuesday, as investors focused on earnings results from General Electric and Coca-Cola and remained cautious over global trade tensions.

The S&P 500 futures rose 8 points or 0.33% to 2,652.25 as of 7:00 AM ET (11:00 GMT) while Dow futures were up 60 points, or 0.25%, to 24,491.0. Meanwhile tech heavy Nasdaq 100 futures increased 17 points, or 0.26%, to 6,753.75.

General Electric (NYSE:GE) shares moved higher in premarket trade after it reported a third quarter loss and slashed its quarterly dividend to just one cent per share, but said it intended to reorganize its troubled power unit.

Coca-Cola shares (NYSE:KO) gained more than 1% ahead of the open after it reported strong third quarter financial results.

Facebook (NASDAQ:FB) and eBay (NASDAQ:EBAY) are also expected to report after the market close.

Investors are also keeping an eye on trade war developments, after U.S. President Donald Trump confirmed on Fox News that he was prepared to increase tariffs on the rest of Chinese goods if no agreement is made between the two countries.

Trump and Chinese leader Xi Jinping are set to meeting at the G20 summit in November.

Chinese e-commerce company Alibaba (NYSE:BABA) was among the top movers in premarket trading, rising 0.95% while Microsoft (NASDAQ:MSFT) inched up 0.20% and Tesla (NASDAQ:TSLA) gained 0.28%.

Elsewhere, Cognex Corporation (NASDAQ:CGNX) slumped 10.38% after it lowered its fourth quarter guidance and announced it will buy back $200 million shares after its existing $150 million repurchase program ends.

On the data front, consumer confidence is released at 10:00 AM ET (12:00 GMT).

In commodities, gold futures fell 0.84% to $1,222.10 a troy ounce while crude oil futures decreased 0.55% to $66.67 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, increased 0.28% to 96.85.

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