US Stock Futures Higher Ahead of J&J, Netflix Earnings

Pre-open movers

U.S. stock futures traded higher in early pre-market trade on Tuesday after recording losses in the previous session. Investors are awaiting earnings results from Johnson & Johnson JNJ, Lockheed Martin Corporation LMT and Netflix, Inc. NFLX.

Data on housing starts and permits for June will be released at 8:30 a.m. ET. Housing starts and building permits have been slowing sharply, declining to respective annual rates of 1.549 and 1.695 million in May. Analysts are expecting starts rebounding to 1.588 million, but permits might decline further to 1.666 million.

Netflix, Johnson & Johnson And 3 Stocks To Watch Heading Into Tuesday

Futures for the Dow Jones Industrial Average gained 151 points to 31,198.00 while the Standard & Poor’s 500 index futures rose 25.25 points to 3,859.00. Futures for the Nasdaq index rose 75 points to 11,982.00.

Oil prices traded lower as Brent crude futures fell 0.8% to trade at $105.47 per barrel, while US WTI crude futures fell 0.6% to trade at $105.47 a barrel.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 91,429,400 with around 1,049,270 deaths. India reported a total of at least 43,783,060 confirmed cases, while Brazil confirmed over 33,339,810 cases.


A Peek Into Global Markets

European markets were mixed today. The STOXX Europe 600 Index rose 0.1%, London’s FTSE 100 slipped 0.1% while Spain’s IBEX 35 Index rose 1.1%. The French CAC 40 Index fell 0.3%, while German DAX fell 0.2%. The unemployment rate in the UK came in steady at 3.8% in the three months to May, while average weekly earnings including bonuses rose 6.2% year-over-year to GBP 601. Construction output in the Eurozone rose 2.9% year-over-year in May, following a revised 2.8% increase in the prior month. Annual inflation rate in the Eurozone was confirmed at a record high level of 8.6% in June up from 8.1% in May.

Asian markets traded mixed today. Japan’s Nikkei 225 gained 0.65%, while China’s Shanghai Composite rose 0.04% and Hong Kong’s Hang Seng Index fell 0.89%. Australia’s S&P/ASX 200 fell 0.6%, while India’s S&P BSE Sensex rose 0.5%.

Check out this: Global Cryptocurrency Market Cap Surpasses This Major Level, Here Are The Top Crypto Movers For Tuesday


Breaking News

  • International Business Machines Corporation IBM posted better-than-expected results for its second quarter.
  • President Joe Biden could declare a national climate emergency as early as this week, according to a report from The Washington Post.
  • Codexis, Inc. CDXS named Dr. Stephen Dilly, Board member, and biotechnology veteran, as President and CEO, effective August 9, 2022. After ten years of leading the transformation and growth of Codexis, the current President and CEO, John Nicols, will step down for personal reasons.
  • General Electric GE has unveiled the names and logos of its three divisions that would soon function as independent public firms, as the 130-year-old industrial conglomerate seeks to remold itself as an aviation-focused company.

Check out other breaking news here

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