P&G, Travelers results lift stock futures

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Stock futures rebounded Tuesday as investors digested a basket of positive earnings results and as they await the outcome of stimulus talks.

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STOCK FUTURES POP

Dow Jones futures were up 110 points, a gain of 0.4%, while the NASDAQ Composite and S&P 500 were both up 0.4%. The gains came after heavy selling on Monday.

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES28195.42-410.89-1.44%
I:COMPNASDAQ COMPOSITE INDEX11478.882835-192.67-1.65%
SP500S&P 5003426.92-56.89-1.63%

PROCTER & GAMBLE, TRAVELERS

Dow components Procter & Gamble and Travelers were higher in pre-market trading after posting positive earnings results. P&G boosted its outlook, in part, due to demand for COVID-19 related products.

TickerSecurityLastChangeChange %
PGPROCTER & GAMBLE COMPANY141.91-2.48-1.72%
TRVTHE TRAVELERS COMPANIES INC.111.84-1.48-1.31%

DOJ GOES AFTER GOOGLE

TickerSecurityLastChangeChange %
GOOGLALPHABET INC.1,529.95-37.75-2.41%

The Dept. of Justice is slated to file an antitrust suit against Google, a senior DoJ official told Fox News. Part of the suit will look at allegations Google monopolizes its internet search function.

Shares of Google's parent company, Alphabet, were little changed in early Tuesday trading.

In politics, Tuesday is the self-imposed deadline set by Speaker of the House Nancy Pelosi who set a 48-hour deadline to reach an agreement. President Trump, upon landing in Arizona, blamed Pelosi for not wanting to do a stimulus bill, but Pelosi's chief of staff, Drew Hammill, said the speaker and Treasury Secretary Steven Mnuchin continued to narrow their differences.

EARNINGS ON TAP

TickerSecurityLastChangeChange %
NFLXNETFLIX INC.530.72-0.07-0.01%
LMTLOCKHEED MARTIN CORPORATION383.71-2.79-0.72%
SNAPSNAP INC.28.66+0.83+2.98%

Other earnings to watch include Netflix Inc., Lockheed Martin Corp. and Snap Inc. are all reporting results.

TickerSecurityLastChangeChange %
UBSUBS GROUP AG11.75+0.13+1.12%
PMPHILIP MORRIS INTERNATIONAL INC.77.84-1.43-1.80%
TXNTEXAS INSTRUMENTS INCORPORATED150.76-2.36-1.54%

Investors will also get a look at UBS Group AG, Philip Morris International and Texas Instruments Inc., covering a wide swath of the global economy.

In deal news, Intel Corp. on Monday said it would sell its storage unit to South Korea-based Hynix for $9 billion. Intel shares were slightly higher in Tuesday trading, up 0.8%.

DOW FALLS 410 POINTS, S&P HAS BROAD RETREAT ON STIMULUS STALL

HOUSING ON FIRE

One day after the NAHB Housing Market Index for October hit a fresh record high with a reading of 85, traders will get even more data on the surging housing market.

Housing starts and building permits for October were released, with housing starts coming in slightly lower-than-expected at 1.41 million, while permits were above consensus at 1.55 million.

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West Texas Intermediate crude oil moved slightly to $41.10 a barrel, while gold ticked lower to $1,909.60 an ounce.

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