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After yesterday's big day on the Dow, we've got a slew of new earnings reports this morning:  Visa grew its revenues and profits at a more rapid clip than Wall Street forecast in its latest fiscal quarter, driven by growth in payment processing and the purchase of Visa Europe that closed last June.  The $250bn credit card processor said its fourth quarter net revenues climbed 13.9% to $4.9bn. (FT)

 

Defence group Northrop Grumman posted upbeat quarterly results driven by higher demand for its manned aircrafts and lifted its earnings outlook again. (WSJ)

 

Coca-Cola shares were flat in premarket trading, as the company reported sales dropped less than feared in its latest quarter.  The world's largest maker of fizzy drinks said sales fell 15 per cent to $9.1bn in the three months to the end of September (FT)

 

Finally, Boeing has raised its earnings and cashflow guidance for the second time in six months after beating market expectations in the third quarter.  Boeing is lifting its forecast for full-year cashflow to $12.5bn as a result of "improved performance" on the back of cost reductions in its aircraft programs and higher production rates. (SA)

 

The prospect of a more hawkish US central bank is setting the pace in the US debt market for a second successive day.  The yield on the 10-year Treasury is up almost 3 basis points at 2.45 per cent today, its highest since March . The yield, which rises when the price of the bond falls, is an important benchmark for global financial markets. Late yesterday, the yield broke through an important psychological threshold of 2.4 per cent that has been treated as a "line in the sand" for much of the year. (FT)

 

S&P 500 futures down 4 and NASDAQ futures are down 13. The MSCI international index is up 1/100 of a percent.

Oil is down 18 cents at $52.29 a barrel.

Gold is down $4 at $1274 a Troy ounce.

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.

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