Futures for US stock indices are actively rising on Monday, signaling that the US stock market may start the week on a positive note, winning back the fall on Friday.
Investors are analyzing the latest financial statements of the largest Wall Street banks.
Bank of America Corp. in the third quarter increased revenue by 7.5%, which was better than analysts’ expectations. BofA shares are up 2.8%.
Bank of New York Mellon (SPB: BK), the world’s largest custodian bank, sharply cut its net income in July-September, with an adjusted per-share figure that beat analysts’ expectations. Paper BNY Mellon rise in price by 4.7%.
On Friday, JPMorgan Chase & Co also released its third-quarter financials. (SPB: JPM), Citigroup Inc. (SPB: C), Wells Fargo & Co. (SPB: WFC) and Morgan Stanley (SPB: MS).
JPMorgan and Citigroup delivered higher-than-market revenue and adjusted earnings, while Wells Fargo increased revenue by 4% and Morgan Stanley cut it by 12%.
The market capitalization of oil producer Continental Resources (SPB:CLR) jumped 8.2% in pre-trading. Company founder Harold Hamm has announced that he will buy all outstanding shares of Continental Resources through his Omega Acquisition Inc.
Shares of Archaea Energy Inc., one of the largest producers of renewable natural gas in the United States, jumped 1.5 times after the announcement that it was being bought by the British BP Plc (SPB:BP).
The cost of the manufacturer of diagnostic medical equipment PerkinElmer Inc. (SPB: PKI) does not change during pre-bidding. The company said it expects higher-than-expected third-quarter adjusted earnings, with revenue close to the upper forecast range.
Meanwhile, the Empire Manufacturing Index, calculated by the New York Fed, fell to minus 9.1 in October from minus 1.5 a month earlier, indicating a further decline in business activity in New York State. The indicator turned out to be negative for the third month in a row. Analysts had expected it at minus 4 points, writes Trading Economics.
Quotations of December futures for the Standard & Poor’s 500 index rose by 1.37% to 3646 points by 15:50 square meters, for the Dow Jones index – by 1.05%, to 30021 points. The price of contracts for December on the Nasdaq 100 index by this time increased by 1.73% – up to 10929.5 points.
