US STOCKS-Futures rise ahead of earnings rush

  • Reuters
  • Stock Market News
US STOCKS-Futures rise ahead of earnings rush

* Futures up: Dow 24 pts, S&P 4 pts, Nasdaq 4.5 pts

By Yashaswini Swamynathan

July 18 (Reuters) - U.S. stock index futures were slightly higher on Monday, coming off a record-setting week for Wall Street that followed robust economic data and strong earnings.

* Equity futures had dipped after the close on Friday, but have since shrugged off the impact of an attempted coup in Turkey.

* The U.S. stock market will be tested this week, when the onslaught of company earnings could help investors assess evidence of a second-half profit rebound. Bank of America (NYSE: BAC ) BAC.N , the No.2 U.S. bank by assets, reported quarterly earnings that fell, but beat analysts expectations. The bank's shares rose 0.3 percent to $13.70 in premarket trading. After similar market-beating results from some companies last week, earnings of S&P 500 companies are now estimated to have declined 4.7 percent in the second quarter, less than the 5 percent drop estimated earlier, according to Thomson Reuters data

* That adds to hopes that earnings contraction bottomed out in the previous quarter, a view that could be reinforced when IBM (NYSE: IBM ) IBM.N , Yahoo YHOO.O and Netflix NFLX.O report results after markets close.

* Gold prices XAU= have fallen, while the yen was lower, indicating investors' favor for more riskier assets has been growing after weeks of uncertainty.

* The S&P 500 and the Dow were just 0.2 percent shy of record intraday highs at the close on Friday.

* British chip designer ARM's ARMH.O U.S.-listed shares surged 43 percent to $67.30 premarket, after Japan's SoftBank agreed to buy the company for $32.2 billion. snapshot at 6:55 a.m. ET:

* Dow e-minis 1YMc1 were up 24 points, or 0.13 percent, with 25,696 contracts changing hands.

* S&P 500 e-minis ESc1 were up 4 points, or 0.19 percent, with 151,614 contracts traded.

* Nasdaq 100 e-minis NQc1 were up 4.5 points, or 0.1 percent, on volume of 22,912 contracts.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or


Related Articles