A Peek Into The Markets: U.S. Stock Futures Down Ahead Of Earnings
U.S. stock futures traded lower in early pre-market trade ahead of earnings from major companies. Data on housing starts and building permits for June will be released at 8:30 a.m. ET.
Futures for the Dow Jones Industrial Average dropped 25 points to 18,426, while the Standard & Poor’s 500 index futures fell 4.25 points to 2,155.50. Futures for the Nasdaq 100 index declined 10 points to 4,598.25.
Oil prices traded higher as Brent crude futures rose 0.06 percent to trade at $46.99 per barrel, while US WTI crude futures also gained 0.04 percent to trade at $45.26 a barrel.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index dropping 0.63 percent, STOXX Europe 600 Index falling 0.81 percent and German DAX 30 index dropping 1.11 percent. The UK's FTSE index was trading lower by 0.22 percent, while French CAC 40 Index declined 0.94 percent.
In Asian markets, Japan’s Nikkei Stock Average gained 1.37 percent, Hong Kong’s Hang Seng Index fell 0.60 percent, China’s Shanghai Composite Index fell 0.23 percent and India’s BSE Sensex rose 0.15 percent.
Analysts at Citigroup upgraded Seagate Technology PLC (NASDAQ: STX) from Sell to Neutral and raised the price target from $18.00 to $29.00.
Seagate shares gained 4.33 percent to close at $30.15 on Monday.
- Yahoo! Inc. (NASDAQ: YHOO) reported weaker-than-expected adjusted earnings for its second quarter on Monday. The company’s revenue increased 5.2 percent to $1.31 billion during the quarter. To read the full news, click here.
- Johnson & Johnson (NYSE: JNJ) delivered solid results for the second quarter. The company reported 11.5 percent drop in net earnings despite sales witnessing 3.9 percent top line growth hurt by different expenses like restructuring. However, excluding adjustments, its profit would have increased 1.1 percent on YOY basis in the second quarter and came in well above the Street analysts' expectations. To read the full news, click here.
- Netflix, Inc. (NASDAQ: NFLX) posted upbeat earnings for its second quarter, but the company reported weak subscriber growth for the quarter. Netflix added 1.7 million subscribers worldwide during the quarter, well short of the company’s projections. To read the full news, click here.
- Lockheed Martin Corporation (NYSE: LMT) reported better-than-expected results for its second quarter and raised its FY16 guidance.
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