Market Overview

US Stock Futures Up Ahead Of Consumer Sentiment Report

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Pre-open movers

US stock futures traded higher in early pre-market trade, ahead of earnings and economic data. The Reuter's/University of Michigan's consumer sentiment index for July will be released at 9:55 a.m. ET, while the Conference Board's index of leading indicators for June will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 19 points to 16,960.00, while the Standard & Poor's 500 index futures rose 4.90 points to 1,958.50. Futures for the Nasdaq 100 index gained 9.75 points to 3,885.75.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.82%, STOXX Europe 600 Index dropping 0.43%. German DAX 30 index declined 0.61%, French CAC 40 Index tumbled 0.10% and London's FTSE 100 Index dropped 0.48%.

In Asian markets, Japan's Nikkei Stock Average fell 1.01%, Hong Kong's Hang Seng Index declined 0.28%, China's Shanghai Composite Index gained 0.17% and India's BSE Sensex gained 0.31%.

Broker Recommendation

Analysts at FBR Capital downgraded Advanced Micro Devices (NYSE: AMD) from Outperform to Market Perform. The target price for Advanced Micro Devices has been lowered from $6.00 to $4.50.

AMD's shares dropped 17.72% to $3.76 in pre-market trading.

Breaking news

  • General Electric Co (NYSE: GE) reported a 13% gain in its second-quarter net income. GE's quarterly net income surged to $3.55 billion, or $0.35 per share, from a year-ago profit of $3.13 billion, or $0.30 per share. Its quarterly operating earnings rose 7% to $3.9 billion, or $0.39 per share, up from $3.7 billion, or $0.36 per share. To read the full news, click here.
  • VF Corp (NYSE: VFC) reported a rise in its second-quarter earnings. To read the full news, click here.
  • Huntington Bancshares (NASDAQ: HBAN) reported a 9% gain in its second-quarter profit. The bank's quarterly profit surged to $164.6 million, or $0.19 per share, versus a year-ago profit of $151 million, or $0.17 per share. To read the full news, click here.
  • Shares of Advanced Micro Devices (NYSE: AMD) are down more than 17% in pre-market trading on disappointing guidance. Second quarter revenue slightly beat the analyst estimate at $1.44 billion versus $1.43 billion. Sales are up 24.1 percent year over year. To read the full news, click here.

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

 

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