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US Stock Futures Down; All Eyes On Bernanke

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US stock futures are lower this morning, ahead of Fed Chairman Ben Bernanke's congressional testimony. Futures for the Dow Jones Industrial Average tumbled 34 points to 15,357.00 and S&P 500 index futures fell 4 points to 1,667.20. Nasdaq 100 futures dropped 3.50 points to 3,067.25.

US stocks closed lower on Tuesday, with the Dow Jones Industrial Average dropping 0.21% to 15,451.85, the S&P 500 index falling 0.37% to 1,676.26 and the Nasdaq 100 index declining 0.25% to 3,598.50.

The MBA purchase applications index will be released at 7:00 a.m. ET, while housing starts data for June will be released at 8:30 a.m. ET. Fed Chairman Ben Bernanke will testify before the House Financial Services Committee at 10:00 a.m. ET. The EIA weekly report on petroleum inventories will be released at 10:30 a.m. ET, while the Federal Reserve will release its Beige Book report at 2:00 p.m. ET.

Abbott Laboratories (NYSE: ABT) is expected to report its Q2 earnings at $0.44 per share on revenue of $5.52 billion. Mattel (NASDAQ: MAT) is expected to report its Q2 earnings at $0.32 per share on revenue of $1.22 billion. Intel (NASDAQ: INTC) is estimated to post its Q2 earnings at $0.40 per share on revenue of $12.90 billion. SanDisk (NASDAQ: SNDK) is expected to post its Q2 earnings at $0.93 per share on revenue of $1.40 billion.

Bank of America (NYSE: BAC) is projected to report its Q2 earnings at $0.25 per share on revenue of $22.79 billion. eBay (NASDAQ: EBAY) is expected to post its Q2 earnings at $0.64 per share on revenue of $3.89 billion. International Business Machines (NYSE: IBM) is projected to post its Q2 earnings at $3.77 per share on revenue of $25.37 billion. St. Jude Medical (NYSE: STJ) is estimated to report its Q2 earnings at $0.94 per share on revenue of $1.36 billion.

American Express Company (NYSE: AXP) is estimated to post its Q2 earnings at $1.22 per share on revenue of $8.28 billion. Textron (NYSE: TXT) is expected to report its Q2 earnings at $0.38 per share on revenue of $3.01 billion. U.S. Bancorp (NYSE: USB) is estimated to report its Q2 earnings at $0.76 per share on revenue of $5.00 billion.

Yahoo! (NASDAQ: YHOO) reported upbeat second-quarter earnings. However, the company cut its full-year outlook.

CSX (NYSE: CSX) reported better-than-expected second-quarter earnings.

European markets were lower today. The STOXX Europe 600 Index dropped 0.37%, London's FTSE 100 index dropped 0.45%, French CAC 40 Index declined 0.51% and German DAX 30 index fell 0.61%.

Asian markets ended mostly higher, with Japan's Nikkei Stock Average rising 0.11%, China's Shanghai Composite dropping 1.01% and Australia's ASX/S&P500 falling 0.04%. Hong Kong's Heng Seng Index surged 0.28% and India's Sensex gained 0.35%.

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

 

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