Here are five things you must know for Thursday, Nov. 1:
1. -- Stocks Rise as Wall Street Looks to Apple's Earnings
U.S. stock futures rose modestly on Thursday, Nov. 1, and global stocks edged mostly higher as traders looked to put the worst month for equity markets in at least two years behind them.
Contracts tied to the Dow Jones Industrial Average rose 144 points, futures for the S&P 500 were up 13.75 points, and Nasdaq futures gained 34.25 points.
The Dow rose Wednesday, Oct. 31, posting its best two-day rally in more than two years as the blue-chip index closed out a tough October down about 5%.
As the first trading day of November begins, most of the headline risks that drove markets lower through October, including U.S.-China trade concerns, rising interest rates and slowing economic growth, remain firmly entrenched in investor sentiment. But investors will be turning their eyes to earnings from Apple Inc. (AAPL) - Get Apple Inc. Report , hoping the report from the iPhone maker on Thursday helps turn around the tech-heavy Nasdaq, which dropped 9.2% in October, its worst month in nearly 10 years.
The economic calendar in the U.S. on Thursday includes weekly Jobless Claims at 8:30 a.m. ET, third-quarter Productivity at 8:30 a.m., the ISM Manufacturing Index for October at 10 a.m., and Construction Spending for September at 10 a.m.
2. -- Besides Apple, Starbucks and DowDuPont Are Earnings Highlights
In addition to earnings from Apple, reports are expected Thursday from Starbucks Corp. (SBUX) - Get Starbucks Corporation Report , CBS Corp. (CBS) - Get CBS Corporation Class B Report , United States Steel Corp. (X) - Get United States Steel Corporation Report , Kraft Heinz Co. (KHC) - Get Kraft Heinz Company Report , GoPro Inc. (GPRO) - Get GoPro, Inc. Class A Report , AMC Networks Inc. (AMCX) - Get AMC Networks Inc. Class A Report , Metlife Inc. (MET) - Get MetLife, Inc. Report , Shake Shack Inc. (SHAK) - Get Shake Shack, Inc. Class A Report and Weight Watchers International Inc. (WTW) - Get Weight Watchers International, Inc. Report .
TheStreet's tech columnist Eric Jhonsa thinks there should be room for Apple to beat consensus estimates for iPhone unit sales of 47 million in the company's fiscal fourth quarter. Analysts polled by FactSet expect Apple to report earnings of $2.78 a share on revenue of $61.5 billion.
- Apple Reports Earnings on Thursday: 8 Important Things to Watch
- Apple Edges Higher Ahead of Q4 Earnings
DowDuPont Inc. undefined posted third-quarter adjusted earnings of 74 cents a share, beating forecasts of 71 cents. Revenue of $20.12 billion came in slightly below estimates. The stock rose 4.3% in premarket trading.
Cigna Corp. (CI) - Get Cigna Corporation Report said income from operations in the third quarter was $3.84 a share, which beat expectations of $3.43. The health insurer also raised targets for both full-year profit and sales. The stock was up 1%.
3. -- Google Workers Plan a Walkout to Protest Sexual Misconduct
Hundreds of engineers and other workers at Alphabet Inc.'s (GOOGL) - Get Alphabet Inc. Class A Report Google are expected to walk off the job Thursday to protest the search giant's lenient treatment of executives accused of sexual misconduct, the Associated Press reported.
The Google protest, billed "Walkout For Real Change," unfolded a week after a New York Times report detailed allegations of sexual misconduct about Andy Rubin, creator of Google's Android software. The report said Rubin received a $90 million exit package despite the claims against him.
Rubin said the Times article was inaccurate and denied the allegations in a tweet.
The Times also disclosed allegations of sexual misconduct against Richard DeVaul, a director at the company's research lab X. DeVaul resigned Tuesday without severance.
In an email to employees on Tuesday, Google CEO Sundar Pichai apologized for the company's "past actions."
"I understand the anger and disappointment that many of you feel," Pichai wrote. "I feel it as well, and I am fully committed to making progress on an issue that has persisted for far too long in our society. and, yes, here at Google, too."
Podcast: Debating Tech Stock Predictions for 2019:
4. -- Ford to Release Car Sales for October
According to J.D. Power and LMC Automotive, light-vehicle sales in the U.S. are expected to fall to their lowest volume in October since 2014. It could be the first month ever in which light trucks account for more than 70% of retail sales, the forecasters said.
In other automotive news, Toyota Motor Corp. (TM) - Get Toyota Motor Corp. Report and Subaru Corp. said they were recalling more than 400,000 vehicles worldwide to repair a faulty engine part that could cause a car to stall while driving. A company spokesman declined to tell The Wall Street Journal say how many vehicles were being recalled in the U.S.
5. -- Credit Suisse Slides on Weaker-Than-Expected Earnings
Shares of Credit Suisse Group AG (CS) - Get Credit Suisse Group AG Report tumbled Thursday after the Swiss-based investment bank posted weaker-than-expected third-quarter earnings and said it would be "very challenging" for its global markets division to hit net revenue targets this year, complicating the turnaround efforts of CEO Tidjane Thiam.
Credit Suisse said net income for the three months ended in September rose 74% from the same period last year to Sfr424 million ($422.4 million), but fell shy of forecasts of Sfr449 million as its global markets division posted a third-quarter loss of Sfr96 million as revenue fell 17% to just more than 1 billion Swiss francs.
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