A Peek Into The Markets: U.S. Stock Futures Edge Higher; Netflix Earnings In Focus

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Netflix, Inc. (NASDAQ: NFLX) is expected to release quarterly earnings after the closing bell. The Empire State manufacturing index for July is schedule for release at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average gained 16 points to 21,611.00, while the Standard & Poor’s 500 index futures rose 1.75 points to 2,457.75. Futures for the Nasdaq 100 index gained 9.75 points to 5,853.00.

Oil prices traded lower as Brent crude futures fell 0.02 percent to trade at $48.90 per barrel, while US WTI crude futures dropped 0.17 percent to trade at $46.46 a barrel. The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.03 percent, STOXX Europe 600 Index climbing 0.13 percent and German DAX 30 index dropping 0.07 percent. The UK's FTSE index was trading higher by 0.56 percent, while French CAC 40 Index rose 0.15 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.09 percent, Hong Kong’s Hang Seng Index climbed 0.31 percent, China’s Shanghai Composite Index dropped 1.43 percent and India’s BSE Sensex rose 0.17 percent.

Broker Recommendation

Analysts at Jefferies downgraded Booz Allen Hamilton Holding Corporation (NYSE: BAH) from Buy to Hold.

Booz Allen shares fell 1.27 percent to $33.40 in pre-market trading.

Breaking news

• BlackRock, Inc. (NYSE: BLK) reported weaker-than-expected profit for its second quarter.
• Church & Dwight Co., Inc. (NYSE: CHD) agreed to acquire Water Pik, Inc., the market leader in water-jet technology in both oral water flossers and replacement showerheads, for around $1 billion in cash.
• Valeant Pharmaceuticals Intl Inc (NYSE: VRX) agreed to sell its Obagi Medical Products business for $190 million in cash.
• Radius Health Inc (NASDAQ: RDUS) named Jesper Høiland as its President and CEO.

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