Dow Futures Edge Higher After House Approves Spending Bill: CSCO, JD, DIS, AMAT Among Stocks To Watch

• The House of Representatives approved a key spending bill, and President Donald Trump signed it, bringing an end to the 43-day-long government shutdown.
• However, White House Press Secretary Karoline Leavitt said that the October jobs and CPI reports will likely never be released.
• Asian markets ended Wednesday’s trading session on a largely positive note, with the Shanghai Composite gaining the most at 0.73%.

U.S. stocks appear set for a positive opening on Thursday after the House of Representatives approved a key spending bill and President Donald Trump signed it, bringing an end to the 43-day-long government shutdown.

However, White House Press Secretary Karoline Leavitt said that the October jobs and CPI reports will likely not be released, addressing reporters on Wednesday. “All of that economic data released will be permanently impaired, leaving our policymakers at the Fed, flying blind at a critical period,” she added.

Futures Mixed

While Dow Jones futures were up by 0.04% at the time of writing, the S&P 500 futures fell 0.08%, while the tech-heavy Nasdaq 100’s futures declined 0.11%. Futures of the Russell 2000 index were down by 0.24%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was edged lower by 0.02% at the time of writing, Invesco QQQ Trust (QQQ) was flat on Thursday morning, and SPDR Dow Jones Industrial Average ETF Trust (DIA) rose 0.05%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘extremely bullish’ territory.

Asian Markets Rise

Asian markets ended Thursday’s trading session on a largely positive note, with the Shanghai Composite gaining the most at 0.73%, followed by the Hang Seng index at 0.55%, KOSPI at 0.49%, and the Nikkei 225 at 0.25%.

The TWSE Capitalization Weighted Stock index declined 0.16%.

Stocks To Watch

• Cisco Systems Inc. (CSCO): Cisco shares were up 7% pre-market after the company’s first-quarter (Q1) results beat Wall Street expectations. Cisco reported earnings per share (EPS) of $1 on revenue of $14.88 billion, compared to analyst expectations of an EPS of $0.98 on revenue of $14.78 billion, according to Stocktwits data.
• JD.com Inc. (JD): JD.com’s American Depository Receipts (ADR) were up more than 1% pre-market after the company’s third-quarter (Q3) results beat Wall Street expectations. JD.com reported EPS of $0.52 on revenue of $42 billion, compared to analyst expectations of an EPS of $0.39 on revenue of $41.44 billion, according to Stocktwits data.
• Apple Inc. (AAPL): Apple struck a deal with Tencent Holdings to take a 15% cut of the purchases made in WeChat mini games and apps, following negotiations of more than a year. Apple shares were up 0.2% pre-market.
• Flutter Entertainment Plc. (FLUT): Flutter Entertainment-owned FanDuel withdrew its license to offer online sports betting in Nevada, after the state’s gaming regulator warned that gambling operators that offer prediction markets are at risk of losing their licenses.
• Walt Disney Co. (DIS), Applied Materials Inc. (AMAT), and Poet Technologies Inc. (POET) are among the companies scheduled to report their latest quarterly earnings on Thursday.

Also See: Apple Strikes WeChat Deal With Tencent, Will Earn 15% From Purchases In Mini Games, Apps: Report

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