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Tags: retail and investment banking | Goldman Sachs | retail sales | stock futures | S&P 500

Futures Edge Higher Ahead of Goldman Earnings, Retail Sales Data

Goldman Sachs
Goldman Sachs shares were up 0.7% in premarket trading, ahead of the release of its third-quarter earnings Friday. (AP)

Friday, 15 October 2021 07:25 AM EDT

U.S. stock futures edged higher on Friday and pointed to weekly gains for major indexes, ahead of results from Goldman Sachs, which is expected to round out a strong third-quarter earnings season for big banks.

Shares of Wall Street's most prolific dealmaker were up 0.7% in premarket trading.

Strong results from a clutch of banks, including Citigroup and Morgan Stanley, propelled the S&P 500 to its biggest daily percentage gain since early March on Thursday, while data on the labor market and inflation eased fears over the outlook for higher rates.

However, a Commerce Department report, due at 08:30 a.m. ET, is likely to show retail sales fell in September amid continued shortages of motor vehicles and other goods.

The data will come against the backdrop of climbing oil prices, labor shortages and supply chain disruptions, factors that have rattled investors and have led to recent choppiness in the market.

At 06:33 a.m. ET, Dow e-minis were up 147 points, or 0.42%, S&P 500 e-minis were up 15 points, or 0.34%, and Nasdaq 100 e-minis were up 41.25 points, or 0.27%.

This week's move into rate-sensitive growth names such as Microsoft Corp, Amazon.com Inc, Apple Inc and Google-parent Alphabet looked set to continue, with their shares inching up.

Moderna Inc rose 3.0% after a U.S. FDA panel voted to recommend booster shots of its COVID-19 vaccine for Americans aged 65 and older and high-risk people.

Western Digital slipped 2.5% as Goldman Sachs downgraded the storage hardware maker's stock to "neutral" from "buy."

Shares of cryptocurrency and blockchain-related firms Coinbase Global, China-based SOS, MicroStrategy Inc, Riot Blockchain, Marathon Digital added between 2.3% and 3.9% as bitcoin hit $60,000 for the first time since April.

Energy firms including Chevron Corp and Exxon Mobil gained about half a percent each, tracking Brent crude prices that scaled $85 per barrel.

© 2023 Thomson/Reuters. All rights reserved.


StreetTalk
U.S. stock futures edged higher on Friday and pointed to weekly gains for major indexes, ahead of results from Goldman Sachs, which is expected to round out a strong third-quarter earnings season for big banks.
retail and investment banking, Goldman Sachs, retail sales, stock futures, S&P 500
306
2021-25-15
Friday, 15 October 2021 07:25 AM
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