Market Overview

A Peek Into The Markets: US Stock Futures Flat; Morgan Stanley Earnings In Focus

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A Peek Into The Markets: US Stock Futures Flat; Morgan Stanley Earnings In Focus
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Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade, ahead of earnings from Morgan Stanley (NYSE: MS). Data on housing starts for June will be released at 8:30 a.m. ET. Federal Reserve Chairman Jerome Powell is set to testify before the House Financial Services Committee in Washington at 10:00 a.m. ET. The Federal Reserve will release its latest Beige Book report at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average rose 5 points to 25,111, while the Standard & Poor’s 500 index futures traded rose 0.75 points to 2,812.00. Futures for the Nasdaq 100 index dropped 4 points to 7,418.00.

Oil prices traded lower as Brent crude futures fell 0.67 percent to trade at $71.68 per barrel, while US WTI crude futures fell 0.75 percent to trade at $67.57 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

 

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.05 percent, STOXX Europe 600 Index climbing 0.51 percent and German DAX 30 index gaining 0.75 percent. The UK's FTSE index was trading higher by 0.58 percent, while French CAC 40 Index rose 0.53 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.43 percent, Hong Kong’s Hang Seng Index fell 0.23 percent, China’s Shanghai Composite Index fell 0.39 percent and India’s BSE Sensex fell 0.40 percent.

Broker Recommendation

Analysts at Jefferies upgraded Avon Products, Inc. (NYSE: AVP) from Underperform to Hold.

Avon shares rose 0.69 percent to $1.45 in pre-market trading.

Breaking News

  • United Continental Holdings Inc (NYSE: UAL) reported better-than-expected earnings for its second quarter. The company also raised its FY18 outlook.
  • Textron Inc. (NYSE: TXT) reported upbeat earnings for its second quarter and raised its FY18 guidance.
  • Texas Instruments Incorporated (NASDAQ: TXN) announced the resignation of its CEO Brian Crutcher due to violations of the company's code of conduct.
  • U.S. Bancorp (NYSE: USB) reported better-than-expected earnings for its second quarter.

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

 

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