U.S. stocks were poised to open lower, as investors digest economic data and earnings results.
Following JPMorgan Chase's upbeat earnings announcement yesterday, Goldman Sachs reported earnings this morning that appeared to be better-than-expected on the surface, but failed to impress investors. The disappointment was echoed by Citigroup, which posted a loss that was better-than-feared, but also did not impress investors. Earnings reports after the closing bell will come from Google, IBM, and Advanced Micro Devices.
Economic numbers will also be a factor today. The cost of living rose at a slower pace in September, with the Consumer Price Index rising 0.2% after a 0.4% increase in August. Excluding food and energy, the so called core index climbed 0.2%. Separately, weekly jobless claims unexpectedly fell last week to the lowest level since January and the New York Empire Factory Index, a gauge on regional manufacturing, expanded for the third straight month.
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