Skip to main content

Market Overview

A Peek Into The Markets: US Stock Futures Up Following Upbeat Results From Tech Giants

Share:
A Peek Into The Markets: US Stock Futures Up Following Upbeat Results From Tech Giants

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, after the big tech companies reported better-than-expected results for the latest quarter. Investors are awaiting earnings results from Caterpillar Inc. (NYSE: CAT), Johnson Controls International PLC (NYSE: JCI), Chevron Corporation (NYSE: CVX) and Merck & Co., Inc. (NYSE: MRK). 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 Chicago PMI for July will be released at 9:45 a.m. ET, while the University of Michigan's consumer sentiment index for July is scheduled for release at 10:00 a.m. ET.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 4,495,010 with around 152,070 deaths. Brazil confirmed over 2,610,100 cases, while India reported a total of at least 1,638,320 confirmed cases.

Futures for the Dow Jones Industrial Average climbed 49 points to 26,267 while the Standard & Poor’s 500 index futures traded rose 8.95 points to 3,257.75. Futures for the Nasdaq 100 index climbed 107.25 points to 10,901.25.

Oil prices traded higher as Brent crude futures rose 0.5% to trade at $43.47 per barrel, while US WTI crude futures rose 0.6% to trade at $40.15 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.1% and STOXX Europe 600 Index climbing 0.8%. The UK's FTSE index was trading higher by 0.3%, while French CAC 40 Index rose 0.6% and German DAX 30 gained 0.9%.

In Asian markets, Japan’s Nikkei fell 2.82%, Hong Kong’s Hang Seng Index declined 0.47% China’s Shanghai Composite Index climbed 0.71% and India’s BSE Sensex fell 0.3%.

Broker Recommendation

Analysts at JP Morgan upgraded Dunkin' Brands Group, Inc. (NASDAQ: DNKN) from Neutral to Overweight and announced a $76 price target.

Dunkin Brands shares rose 1% to $69.34 in pre-market trading.

Breaking News

  • Apple Inc. (NASDAQ: AAPL) reported better-than-projected results for the third quarter of fiscal year and also announced a four-for-one stock split. Apple's flagship product, the iPhone, fetched revenues of $26.42 billion during the quarter.
  • Facebook, Inc. (NASDAQ: FB) reported stronger-than-expected results for its second quarter. The company reported a 12% year-over-year rise in its daily active users.
  • Amazon.com, Inc. (NASDAQ: AMZN) reported upbeat results for its second quarter and issued strong sales forecast for the current quarter.
  • Alphabet Inc (NASDAQ: GOOGL) reported better-than-expected results for its second quarter.
  • Caterpillar Inc. (NYSE: CAT) reported upbeat results for its second quarter.
 

Related Articles (AAPL + AMZN)

View Comments and Join the Discussion!

Posted-In: A Peek Into The MarketsEarnings News Eurozone Futures Global Pre-Market Outlook Markets

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com