Stock futures mostly higher ahead of earnings reports
Investors cautious amid uncertainty in the markets
Shaffer Asset Management President Dan Shaffer and Crossmark Global Investments Chief Market Strategist Victoria Fernandez discuss the driving elements that’s pushing investors to be cautious.
Stocks are pointing to a higher open ahead of earnings from several Dow components, even as geopolitical concerns remain on the table.
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Before the bell earnings are expected from 3M, United Technologies and Verizon.
Dow Jones futures were rising by 0.13%. The S&P 500 added 0.06% and the Nasdaq Composite was off 0.04%.
U.S. stocks were flat Monday, as traders waded through the latest earnings reports and while geopolitical concerns once again entered the spotlight.
The Dow Jones Industrial Average fell 13.83 points, or 0.06%, to 25,044.29. The S&P 500 added 5.15 points, about 0.18%, to 2,806.98. The Nasdaq Composite gained 21.67 points, or 0.28%, to close at 7,841.87.
|I:DJI||DOW JONES AVERAGES||25044.29||-13.83||-0.06%|
|I:COMP||NASDAQ COMPOSITE INDEX||7841.8727||+21.67||+0.28%|
Google parent Alphabet Inc. reported a 9.3% drop in second-quarter earnings, which included a $5 billion charge to cover a fine by European regulators.
Excluding the impact of the fine, the company reported per-share earnings of $11.75, above the comparable year-ago figure of $8.90 and beating the analyst estimate of $9.66, according to analysts polled by FactSet.
Shares of Google rose 5.9% to $1,282 in after-hours trading.
Economic data released Monday included existing home sales. The June figure came in at a 5.38 million annual rate versus May's 5.41 million. The median home price for existing homes came in at $276,900, up 5.2% year-over-year.
In Asian market trading on Tuesday, Japan's Nikkei edged up 0.5%, even as a disappointing reading on factory activity suggested the threat of a trade war was starting to bite.
China’s Shanghai composite was higher by 0.5%.
Hong Kong’s Hang Sang traded higher by 0.3%.
In Europe, strong results from UBS and Peugeot lifted stocks.
London’s FTSE is up 0.09%, Germany’s DAX rose 0.49% and France CAC gained 0.44%.
FOX Business’ Leia Klingel contributed to this article.
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