STOCKS/ECONOMY
-Stock futures are mostly higher after Wednesday's 703-point rally for the Dow, larger 1.8 percent gain for the S&P 500, and a 2.5 percent surge higher for the Nasdaq. We get more key bank earnings today.
-The yield on the 10-year Treasury bond is at 4.66 percent.
-The average 30-year mortgage rate rose to 7.09 percent last week, compared to 6.99 percent the week before.
-Gold is up to the $2,739 per ounce level. Bitcoin is at the $99,000 level.
-Asian markets closed higher today, led by a 1.2 percent rally for the Hang Seng. The Nikkei rose 0.3 percent, and the Shenzhen gained 0.4 percent.
OIL/ENERGY
-U.S. crude prices are down and at the $79 a barrel level after rallying to the $80 level Wednesday on supply concerns.
-Gasoline prices are up to $3.10 a gallon, national average.
-British Petroleum (BP) says its cutting thousands of jobs in a cost-cutting measure. BP shares are down 10 percent from a year ago today.
BANK EARNINGS
-Bank of America (BAC) reported better than expected quarterly profits and revenues. Its shares are flat in the premarket, but are up 43 percent in the premarket.
-Morgan Stanley (MS) reported better than expected quarterly profits and revenues, thanks to big profits from its stock trading business. Its shares are up 1 percent in the premarket.
TARGET FORECASTS
-Target (TGT) is raising expectations for what its Christmas season sales numbers will look like when they are finally released. But it also lowered profit estimates as its costs are rising faster than hoped. Target shares are down 1 percent in the premarket.
OTHER KEY EARNINGS
-United Healthcare (UNH) reported weaker than expected quarterly revenue. Its shares are down 3 percent in the premarket.
CHIPS AHOY!
-Taiwan Semiconductor (TSM) upped its current quarter revenue guidance. Its shares are up 5 percent in the premarket.
SHORT SELLER EXIT
-Short selling investment fund Hindenburg Research is shutting down as founder Nate Anderson says the stress of being a consistent bear is becoming too much.
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