Market Overview

US Stock Futures Up; Citigroup Earnings In Focus

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US stock futures are higher this morning, as investors are awaiting earnings from Citigroup (NYSE: C). Futures for the Dow Jones Industrial Average surged 20 points to 15,389.00 and S&P 500 index futures rose 2 points to 1,672.30. Nasdaq 100 futures gained 5.25 points to 3,067.25.

US stocks closed higher on Friday, with the Dow Jones Industrial Average rising 0.02% to 15,464.30, the S&P 500 index surging 0.31% to 1,680.19 and the Nasdaq 100 index gaining 0.61% to 3,600.08.

Data on retail sales for June and the Empire State manufacturing index for July will be released at 8:30 a.m. ET. Data on business inventories for May will be released at 10:00 a.m. ET.

AT&T (NYSE: T) agreed to buy Leap Wireless International (NASDAQ: LEAP) for around $1.19 billion in cash.

Citigroup is expected to report its Q2 earnings at $1.18 per share on revenue of $19.79 billion. JB Hunt Transport Services (NASDAQ: JBHT) is projected to post its Q2 earnings at $0.74 per share on revenue of $1.40 billion.

Cintas (NASDAQ: CTAS) is expected to post its Q4 earnings at $0.70 per share on revenue of $1.13 billion. Joe's Jeans (NASDAQ: JOEZ) is projected to post its Q2 earnings at $0.03 per share on revenue of $32.01 million. Brown & Brown (NYSE: BRO) is expected to post its Q2 earnings at $0.35 per share on revenue of $318.30 million.

European markets were higher today. The STOXX Europe 600 Index surged 0.15%, London's FTSE 100 index gained 0.38%, French CAC 40 Index climbed 0.38% and German DAX 30 index rose 0.27%.

Asian markets ended higher, with China's Shanghai Composite gaining 0.98% and Australia's ASX/S&P500 rising 0.16%. Hong Kong's Heng Seng Index rose 0.12% and India's Sensex jumped 0.39%.

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

 

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