Dow Futures' Early Gain Is All Because Of American Express

By Tomi KilgoreMarketsMarketWatch Pulse

Shares of American Express Co. surged $3.94, or 6.4%, in premarket trade Thursday, after the credit card and travel services company reported late Wednesday better-than-expected third-quarter results and raised its profit outlook. That price gain would add about 27 points to the Dow Jones Industrial Average , which is a price weighted index. Meanwhile, Dow futures were last up 23 points. Meanwhile, Verizon Communications Inc.'s stock slumped $1.25, or 2.5%, in premarket trade after reporting disappointing third-quarter wireless postpaid net additions. That would shave about 9 points off the Dow's price. AmEx's stock has tumbled 12 year to date through Wednesday, while Verizon shares have climbed 9% and the Dow has gained 4.5%.

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