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US Stock Futures Down; Bank of America Earnings In Focus

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US stock futures are lower this morning, as investors are awaiting earnings from Bank of America (NYSE: BAC). Futures for the Dow Jones Industrial Average tumbled 64 points to 14,623.00 and S&P 500 index futures fell 8.30 points to 1,560.70. Nasdaq 100 futures dropped 17 points to 2,811.75.

US stocks closed higher on Tuesday, with the Dow Jones Industrial Average surging 1.08% to 14,756.78, the S&P 500 index rising 1.43% to 1,574.57 and the Nasdaq 100 index gaining 1.50% to 3,264.63.

The MBA purchase applications index will be released at 7:00 a.m. ET, while the EIA weekly report on petroleum inventories will be released at 10:30 a.m. ET. The Federal Reserve will release its Beige Book at 2:00 p.m. ET.

Yahoo! (NASDAQ: YHOO) reported a drop in its internet advertising revenue during the first quarter. However, the company's earnings beat estimates.

Intel (NASDAQ: INTC) reported a 27% drop in its first-quarter profit. Its PC sales declined 14% y/y.

Abbott Laboratories (NYSE: ABT) is expected to report its Q1 earnings at $0.41 per share on revenue of $5.42 billion. Mattel (NASDAQ: MAT) is estimated to report its Q1 earnings at $0.09 per share on revenue of $985.79 million. eBay (NASDAQ: EBAY) is expected to post its Q1 earnings at $0.62 per share on revenue of $3.77 billion. Huntington Bancshares (NASDAQ: HBAN) is expected to report its Q1 earnings at $0.16 per share on revenue of $696.15 million.

Bank of America (NYSE: BAC) is projected to report its Q1 earnings at $0.22 per share on revenue of $23.49 billion. Textron (NYSE: TXT) is expected to report its Q1 earnings at $0.46 per share on revenue of $2.89 billion. SanDisk (NASDAQ: SNDK) is projected to post its Q1 earnings at $0.77 per share on revenue of $1.30 billion. ASML Holding NV (NASDAQ: ASML) is estimated to report its Q1 earnings at $0.49 per share on revenue of $1.27 billion.

Quest Diagnostics (NYSE: DGX) is expected to report its Q1 earnings at $1.03 per share on revenue of $1.86 billion. Dover (NYSE: DOV) is projected to report its Q1 earnings at $1.08 per share on revenue of $2.07 billion. St. Jude Medical (NYSE: STJ) is expected to report its Q1 earnings at $0.91 per share on revenue of $1.36 billion. Noble (NYSE: NE) is estimated to post its Q1 earnings at $0.56 per share on revenue of $987.18 million.

European markets were lower today. The STOXX Europe 600 Index fell 0.85%, London's FTSE 100 Index dropped 0.52%, French CAC 40 Index declined 1.06% and German DAX 30 index fell 1.21%.

Asian markets ended mostly lower, with Japan's Nikkei Stock Average rising 1.22%, China's Shanghai Composite falling 0.05% and Australia's S&P/ASX 200 gaining 1%. Hong Kong's Hang Seng fell 0.47% and India's Sensex declined 0.07%.

Gold for June delivery dropped 0.25% to trade at $1,384.00 an ounce.

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

 

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