Market Overview

US Stock Futures Down As Investors Await Fed Minutes

US Stock Futures Down As Investors Await Fed Minutes
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US stock futures are lower this morning, ahead of the minutes of the recent Fed meeting. Futures for the Dow Jones Industrial Average dropped 19 points to 13,180.00 and S&P 500 index futures fell 3 points to 1,409.50. Nasdaq 100 futures declined 5.25 points to 2,768.75.

US stocks closed lower on Tuesday, with the Dow Jones Industrial Average dropping 0.51% to 13,203.58, the S&P 500 index falling 0.35% to 1,413.17 and the Nasdaq 100 index declining 0.29% to 3,067.26.

Data on existing home sales data for July will be released at 10 a.m. ET. The minutes of the recent Federal Open Market Committee meeting will be released at 2 p.m. ET.

American Eagle Outfitters (NYSE: AEO) is expected to report its Q2 earnings at $0.21 per share on revenue of $721.68 million. Hewlett-Packard Company (NYSE: HPQ) is projected to post its Q3 EPS at $0.98 on revenue of $30.10 billion. Chico's FAS (NYSE: CHS) is estimated to report its Q2 EPS at $0.30 on revenue of $641.26 million.

Guess' (NYSE: GES) is expected to post its Q2 earnings at $0.54 per share on revenue of $637.19 million. Synopsys (NASDAQ: SNPS) is estimated to post its Q3 EPS at $0.50 on revenue of $443.94 million. Eaton Vance (NYSE: EV) is projected to report its Q3 earnings at $0.47 per share on revenue of $304.06 million.

Williams-Sonoma (NYSE: WSM) reported a 10% rise in its fiscal second-quarter profit and lifted its forecast for the full year.

Dell (NASDAQ: DELL) lowered its full-year profit view.

La-Z-Boy (NYSE: LZB) reported better-than-expected fiscal first-quarter revenue.

European markets were lower today. The STOXX Europe 600 Index declined 0.77%, French CAC 40 index dropped 0.68%. London's FTSE 100 Index moved down 0.99% and German DAX 30 index fell 0.78%.

Asian markets ended lower, with Japan's Nikkei Stock Average falling 0.27%, China's Shanghai Composite dropping 0.50% and Australia's S&P/ASX 200 moving down 0.17%. Hong Kong's Hang Seng index dropped 1.06% and India's Sensex fell 0.21%.

Japan posted a trade deficit in July. The trade deficit came in at 517.4 billion yen ($6.5 billion), versus a ¥60.3 billion surplus in June. However, economists were expecting a ¥275 billion deficit.

Nymex crude-oil futures dropped $0.21 to trade at $96.63 a barrel, while gold futures rose $1 to $1,643.90 an ounce.

The dollar index (DXY) was flat at 81.932. The euro was also trading flat against the dollar at $1.2463.

Posted-In: US Stock FuturesNews Futures Global Pre-Market Outlook Markets


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