Stocks - U.S. Futures Rise As Earnings Season Kicks Off
15 July 2019, 13: 07
U.S. futures were slightly higher on Monday, as investors looked ahead to a second-quarter earnings season that starts with the market close to record highs.
The Dow closed above 27,000 for the first time on Thursday, while the broke 3,000 for the first time a day before. All three major indexes ended the week near their respective records.
Citigroup (NYSE:) is expected to report at 8:00 AM ET (12:00 GMT), while JP Morgan, Goldman Sachs (NYSE:) and other major banks report throughout the week. Together, the major banks are often seen as a barometer of the overall health of the economy.
rose 8 points or 0.1% by 6:47 AM ET (10:47 GMT), while gained 38 points or 0.1% and inched up 4 points or 0.2%.
Earlier, new data showed China’s economy , even as industrial output, retail sales and capital spending turned out better than expected in June. The data increased hopes that the world's second-largest economy is stabilizing despite its ongoing trade conflict with the U.S.
Amazon.com (NASDAQ:) was up 0.3% in premarket trading, as the company’s biggest marketing event of the year, Prime Day, kicks off.
Facebook (NASDAQ:) fell 0.7% after weekend reports that the Federal Trade Commission had voted to confirm a $5 billion fine on the company.
Tesla (NASDAQ:) gained 0.7%, while Mastercard (NYSE:) rose 0.3% and Micron Technology (NASDAQ:) inched up 0.4% and Advanced Micro Devices (NASDAQ:) ticked up 0.1%.
Elsewhere, Boeing (NYSE:) fell 1.4% after American Airlines Group said it is extending the cancellation of daily flights into early November due to the ongoing grounding of Boeing’s 737 Max jets. The news follows a Wall Street Journal report that suggested the model could stay grounded until next year.
Gilead Sciences (NASDAQ:) slipped 0.7% on news that it is investing $5.1 billion to raise its stake in Belgian-Dutch biotech company Galapagos.
On the data front, the survey comes out at 8:30 AM ET (12:30 GMT).
In commodities, rose 0.3% to $60.41 a barrel, while gained 0.4% to $1,417.55 a troy ounce. The , which measures the greenback against a basket of six major currencies, was flat at 96.393.