Market Overview

A Peek Into The Markets: US Stock Futures Flat Ahead Of Citigroup, Wells Fargo Earnings

A Peek Into The Markets: US Stock Futures Flat Ahead Of Citigroup, Wells Fargo Earnings

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade, ahead of earnings from Citigroup Inc. (NYSE: C) and Wells Fargo & Company (NYSE: WFC). Data on import and export prices for June will be released at 8:30 a.m. ET, while the University of Michigan's consumer sentiment index for July is schedule for release at 10:00 a.m. ET. The Fed is schedule to release their semiannual Monetary Policy Report to Congress today. Federal Reserve Bank President Raphael Bostic is set to speak in Falls Church at 12:30 p.m. ET.

Futures for the Dow Jones Industrial Average fell 2 points to 24,892.00, while the Standard & Poor’s 500 index futures traded fell 0.25 points to 2,798.25. Futures for the Nasdaq 100 index rose 3.75 points to 7,386.50.

Oil prices traded lower as Brent crude futures fell 0.74 percent to trade at $73.90 per barrel, while US WTI crude futures fell 0.41 percent to trade at $70.04 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.30 percent, STOXX Europe 600 Index gaining 0.18 percent and German DAX 30 index climbing 0.22 percent. The UK's FTSE index was trading higher by 0.42 percent, while French CAC 40 Index jumped 0.35 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1.85 percent, Hong Kong’s Hang Seng Index rose 0.16 percent, China’s Shanghai Composite Index fell 0.23 percent and India’s BSE Sensex fell 0.02 percent.

Broker Recommendation

Analysts at BMO Capital downgraded Broadcom Inc. (NASDAQ: AVGO) from Outperform to Market Perform.

Broadcom shares rose 0.25 percent to $210.50 in pre-market trading.

Breaking News

  • JPMorgan Chase & Co. (NYSE: JPM) reported better-than-expected results for its second quarter.
  • ShiftPixy Inc (NASDAQ: PIXY) issued upbeat guidance for the third quarter.
  • Ingredion Inc (NYSE: INGR) disclosed a $125 million cost-savings program. The company issued weak Q2 earnings forecast and lowered its FY18 outlook.
  • Infosys Limited (NYSE: INFY) reported a profit of 36.1 billion Rupees and consolidated revenue from operations of 191.28 billion Rupees for the June quarter.

Posted-In: A Peek Into The Markets US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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