Wall Street Futures Calm Amid Earnings
Wall Street futures were flat on Thursday, awaiting some market drivers that may come in the form of earnings results or economic indicators
New York – Stock futures in the US were hovering near the flatline on Thursday, following gains booked a day before, eyeing a set of earnings reports along with economic data.
Futures for the Standard & Poor’s 500 index added 0.02% to trade at 2,098.40 ahead of the market open, after the index ended Wednesday’s session at a fresh five-month high.
The economic calendar will be pretty busy on Thursday, while earnings results from some major US players are in focus as well.
Initial jobless claims are expected to hit 265,000 over the week to April 16, following 253,000 a week before.
The Philly Fed manufacturing index is forecast to slip to 8 points in April, from 12.4 points before.
House prices are expected to grow 0.4% in February on a monthly basis, following a growth of 0.5% previously.
The Conference Board Leading Indicators Index, measuring overall economic health by combining 10 indicators, is set to hike 0.4% in March, more than a 0.1% rise in February.
Carmaker General Motors posted an adjusted profit of $1.26 per share in the first quarter, compared to estimates of $1.01 per share. That sent its stock about 4% higher ahead of the market open.
Shares of asset manager Blackstone dived 3.80% ahead of the opening bell, after saying it earned 31¢ per share in the March quarter, down from expectations of 37¢ per share.
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Industrial giant Johnson Controls said its adjusted profit for the March quarter hit 86¢ per share, above the 82¢ per share projected by Wall Street analysts.
Profit of biotechnology company Biogen totaled $4.79 per share in the first three months of 2016, coming in better than $4.47 per share forecast by analysts. Its stock was about 1% lower in the pre-market trade.
Broadband and telecom company Verizon Communications earned $1.06 per share in the first quarter, in line with what analysts had expected. Shares of he company declined 1.26% in the pre-market trade.
The adjusted quarterly profit of insurer Travelers amounted to $2.33 per share, missing $2.55 per share forecast by the market. However, its revenue came in at better than expected.
Shares of clothing retailer Under Armour jumped 4% ahead of the market open, after reporting upbeat first-quarter results. It earned 4¢ per share, better than the 2¢ per share forecast by analysts.
Chipmaker Qualcomm earned $1.04 per share in adjusted profit in the March quarter, it said late on Wednesday, beating projections, but its shares fell over 3% in after-hours trading, as the company projected weaker profit figures than what analysts estimate for the current quarter.
Toy maker Mattel reported (wall street) a sales decline in its Barbie division over the first quarter, widening its loss from the year-ago period. The results were weaker than analysts had projected, sending its stock 8.75% lower ahead of the opening bell.
First-quarter profit of fast food chain Yum! Brands rose from the year-ago period and was also better than the market had forecast, boosted by strong performance in China. Its shares jumped 4% in the after hours.
Credit card company American Express said its profit for the first quarter totaled $1.45 per share, down from $1.48 per share booked last year, but topped $1.35 per share expected by analysts. That was a boost for its shares, which grew over 4% ahead of the opening bell.
Chipmaker Advanced Micro Devices, tech bellwether Microsoft, oilfield services companySchlumberger, coffee chain Starbucks and credit card company Visa will be reporting their quarterly financial data after the closing bell.
The author of this story: wbponline.com