US STOCKS-Futures inch up, indicating rebound; earnings awaited
By Ryan Vlastelica
NEW YORK Oct 23 (Reuters) - U.S. stock index futures were higher on Thursday, implying a rebound from the previous session as investors used the drop to add to positions and looked ahead to the release of some key corporate reports for further incentives.
* Major indexes traded higher for much of Wednesday's session but turned lower in afternoon trading, pressured in part by a shooting at the Canadian parliament.
* AT&T Inc fell 1.4 percent to $34 in premarket trading, a day after the telecom giant reported weaker-than-expected revenue growth and cut its full-year forecast for consolidated revenue growth.
* The Dow component's results followed similarly disappointing ones from Boeing Co and Biogen on Wednesday, though this earnings season has largely been positive for markets. With 27 percent of the S&P 500 having reported, 68.9 percent have exceeded profit expectations, above the long-term average of 63 percent, according to Thomson Reuters data.
* Among the companies reporting Thursday, Dow components 3M Co and Caterpillar Inc will be of particular interest, with investors looking for any impact on earnings from a robust U.S. dollar.
* Multinational stocks have been hurt by the strong dollar this season. According to RBC Capital Markets, "domestically-oriented companies are on track to grow earnings by 9.1 percent vs. 1.5 percent for more global names and are beating by a greater percentage."
* On the data front, weekly jobless claims due at 8:30 a.m. (1230 GMT) are seen rising to 282,000 from last week's 264,000. The preliminary read on October manufacturing from financial data firm Markit at 9:45 a.m. is seen dipping to 57 from 57.5.
* With Wednesday's decline, the S&P fell back under its 150-day moving average, a sign that trading trends have not turned fully positive, though the index has not undergone a correction - defined as a 10 percent decline from a peak - since 2012, as investors have used market declines as buying opportunities. Continuación...