US Stock Futures Hold Higher After ECB Leaves Rates Unchanged

New York (Oct 20)  Stock futures held higher on Thursday after the European Central Bank opted to leave its monetary policy unchanged.

S&P 500 futures were up 0.13%, Dow Jones Industrial Average futures added 0.18%, and Nasdaq futures climbed 0.15%.

The ECB held its key rate at a record low of zero percent for another month and expects to hold rates at current levels "for an extended period of time." The central bank also said it intends to hold its monthly asset repurchases of 80 billion euros a month until March 2017, though could extend the program if need be.

ECB President Mario Draghi will hold a press conference this morning.

American Express (AXP) climbed 6% in premarket trading after topping earnings estimates in its recent quarter. The credit card company earned $1.24 a share, 28 cents above forecasts. Revenue fell 5.1% to $7.77 billion, narrowly beating sales estimates.

eBay (EBAY) was down 8% in premarket trading after issuing disappointing guidance for its current quarter. The auction site said it expects adjusted earnings between 52 cents and 54 cents a share on revenue of $2.36 billion to $2.41 billion. Analysts anticipated adjusted earnings of 54 cents a share on revenue of $2.40 billion.

Kinder Morgan (KMI)  rose 2% in premarket trading despite reporting a surprise loss in its third quarter. The energy infrastructure company reported a net loss of a dime a share, far worse than an expected profit of 16 cents a share. Revenue tumbled 10.2% to $3.33 billion.

Source: TheStreet