Pre-open movers
U.S. stock futures traded higher in early pre-market trade ahead of earnings from several major companies. Futures for the Dow
Jones Industrial Average climbed 62 points to 18,543.00, while the Standard & Poor’s 500 index futures rose 6.50 points to
2,165.50. Futures for the Nasdaq 100 index gained 14.75 points to 4,621.25.
Oil prices traded higher as Brent crude futures rose 0.32 percent to trade at $46.83 per barrel, while US WTI crude futures also
declined 0.07 percent to trade at $44.62 a barrel. The Energy Information Administration’s weekly report on petroleum inventories
is schedule for release at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 0.69 percent, STOXX Europe 600 Index surging 0.74 percent
and German DAX 30 index gaining 1.31 percent. The UK's FTSE index was trading higher by 0.15 percent, while French CAC 40 Index
climbed 1.04 percent. The unemployment rate in the U.K. declined to 4.9 percent in the three months to May, compared to 5 percent
during the prior three months.
In Asian markets, Japan’s Nikkei Stock Average fell 0.25 percent, Hong Kong’s Hang Seng Index rose 0.97 percent, China’s
Shanghai Composite Index fell 0.29 percent and India’s BSE Sensex rose 0.46 percent.
Broker Recommendation
Analysts at Oppenheimer downgraded Verizon Communications Inc. (NYSE: VZ) from Outperform to Perform.
Verizon shares fell 0.70 percent to $55.31 in pre-market trading.
Breaking news
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Morgan Stanley (NYSE: MS) announced
better-than-expected adjusted earnings and revenue for the second quarter. Morgan Stanley reported net income applicable to its
shareholders of $1.6 billion or $0.75 per share, down from net income of $1.8 billion or $0.85 per share in the year-ago
quarter. To read the full news, click here.
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Halliburton Company (NYSE: HAL) reported second
quarter results Wednesday morning which exceeded analyst expectations. To read the full news, click here.
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Microsoft Corporation (NASDAQ: MSFT) reported
better-than-expected fiscal fourth-quarter financial results on Tuesday. Netflix added 1.7 million subscribers worldwide during
the quarter, well short of the company’s projections. To read the full news, click here.
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St. Jude Medical, Inc. (NYSE: STJ) announced 18
percent drop in net income for the second quarter despite sales witnessing 10.64 growth. However, its adjusted earnings, which
increased 3 percent, came in line with the expectations. To read the full news, click here.
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