U.S. Markets to Open Lower as Investors Await Earnings
U.S. stock futures are down slightly, indicating that the Standard & Poor’s 500 Index is likely to remain near a one-week low. European sovereign-debt worries continue to be of concern, ameliorated somewhat by an upbeat reading on Chinese manufacturing activity.…
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Futures on the Dow Jones Industrial Average slipped 21 points, or almost 0.2%, while those for the Standard & Poor’s 500 index fell 3.9 points, or about 0.3%. Futures for the Nasdaq index declined 8 points, or 0.3%.
European stocks were lower in morning trading. Britain’s FTSE 100 ticked down 0.5% and the DAX in Germany slipped 0.4%, and France’s CAC 40 retreated 0.7%.
Most Asian stocks declined following a private survey that showed China’s manufacturing may contract at a slower pace this month and Moody’s cut the credit outlook for Germany, the Netherlands and Luxembourg. The Shanghai Composite ended up 0.2%, while Japan’s Nikkei fell 0.2%, and the Hang Seng in Hong Kong declined 0.8% in a session shortened by a typhoon warning.
UPS is expected to report quarterly earnings of $1.17 a share on $13.7 billion in revenue, according to a poll of analysts by Thomson Reuters. AT&T is forecast to report earnings of $0.63 cents a share and revenue of $31.7 billion. Apple is due to report quarterly results after the closing bell.
DuPont (NYSE: DD) shares edged lower in premarket trading after the company’s revenue fell short of consensus estimates. It said it expects full-year earnings to come in nearer the lower end of its outlook.
On the economic calendar this morning: manufacturing data for July and FHFA home prices for May.
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, moderating workshop sessions at regional conventions.
