Dow futures are set to rise following strong earnings from Google parent Alphabet
- 3M, Biogen, Eli Lilly, Lockheed Martin, LVMH, Verizon, Harley-Davidson, Kimberly-Clark, JetBlue, AT&T and Chubb are just a handful of major names set to report.
- The tech sector also received a boost from corporate results that came out late Monday, including Google’s parent company, Alphabet.
U.S. stock index futures rose prior to Tuesday’s open, as investors turned their attention to another wave of corporate earnings. Google parent company Alphabet boosted the technology sector after reporting second-quarter earnings that showed a big bottom-line beat on estimates.
At around 6:30 a.m. ET, Dow futures indicated a positive open of about 96 points. The Nasdaq and the S&P 500 futures indicated a positive start to their respective trading sessions too.
A large number of businesses are expected to issue their latest financial updates on Tuesday.
3M, Biogen, Eli Lilly, Lockheed Martin, LVMH, Verizon, Harley-Davidson, Kimberly-Clark, JetBlue, AT&T and Chubb are just a handful of major names set to report. Investors will also be digesting corporate results that came out late Monday, including Google’s parent company, Alphabet. The tech giant published its second-quarter earnings, which saw the group post solid revenue growth.
On the data front, the Philadelphia Fed’s non-manufacturing survey is due out at 8:30 a.m. ET, followed by the FHFA’s house price index at 9 a.m. ET.
Not long after, the U.S. composite purchasing managers’ index (PMI) is due out at 9:45 a.m. ET, while the Richmond Fed survey of manufacturing activity is expected to be released at 10 a.m. ET.
Not a Scientific Survey. Results may not total 100% due to rounding.
Elsewhere, investors will be keeping an eye on the bond market, following news that Beijing had pledged to look into and undertake a more vigorous fiscal policy, as the economy cools. The possibility of further loosening in monetary conditions pushed the offshore yuan down to a 13-month low; Reuters reported.
Meantime, investors will be keeping abreast of the ongoing trade spat between the U.S. and major economies, such as China and the European Union, to see if any more news materializes.
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