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.
Analysts at Jefferies upgraded Chipotle Mexican Grill, Inc. CMG from Hold to Buy.
Chipotle shares fell 1.55 percent to $458.24 in pre-market trading.
- Eaton Corporation plc ETN reported better-than-expected results for its second quarter and raised its FY18 guidance.
- Eisai and Merck & Co., Inc. MRK reported the FDA Breakthrough Therapy designation for LENVIMA.
- Pfizer Inc. 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 AKS reported weaker-than-expected earnings for its second quarter.