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A Peek Into The Markets: US Stock Futures Up Ahead Of Earnings, Economic Data

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A Peek Into The Markets: US Stock Futures Up Ahead Of Earnings, Economic Data
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Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from several companies. The Federal Open Market Committee will begin its two-day policy meeting today. Data on personal income and consumer spending for June and the employment cost index for the second quarter will be released at 8:30 a.m. ET. The S&P Corelogic Case-Shiller home price index for May is schedule for release at 9:00 a.m. ET, while the Chicago PMI for July week will be released at 9:45 a.m. ET. The Conference Board’s consumer confidence index for July is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 37 points to 25,322.00, while the Standard & Poor’s 500 index futures traded rose 7.50 points to 2,810.00. Futures for the Nasdaq 100 index climbed 11.50 points to 7,209.50.

Oil prices traded lower as Brent crude futures fell 0.31 percent to trade at $74.74 per barrel, while US WTI crude futures fell 0.58 percent to trade at $69.72 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.61 percent, STOXX Europe 600 Index climbing 0.13 percent and German DAX 30 index gaining 0.02 percent. The UK's FTSE index was trading higher by 0.56 percent, while French CAC 40 Index rose 0.08 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.04 percent, Hong Kong’s Hang Seng Index fell 0.52 percent, China’s Shanghai Composite Index rose 0.26 percent and India’s BSE Sensex rose 0.30 percent.

Broker Recommendation

Analysts at Jefferies upgraded Chipotle Mexican Grill, Inc. (NYSE: CMG) from Hold to Buy.

Chipotle shares fell 1.55 percent to $458.24 in pre-market trading.

Breaking News

  • Eaton Corporation plc (NYSE: ETN) reported better-than-expected results for its second quarter and raised its FY18 guidance.
  • Eisai and Merck & Co., Inc. (NYSE: MRK) reported the FDA Breakthrough Therapy designation for LENVIMA.
  • Pfizer Inc. (NYSE: PFE) reported stronger-than-expected earnings for its second quarter. The company raised its FY18 earnings outlook, but lowered sales guidance.
  • AK Steel Holding Corporation (NYSE: AKS) reported weaker-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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