U.S. Market Futures Pointing Lower as Investors Weigh Economic Data

U.S. stock futures are pointing lower in pre-market trading for Tuesday, August 2. The Dow Futures are at 18304.0 for a loss of -22.00 points. The S&P 500 Futures are at 2161.0 for a loss of -3.50 points. The Nasdaq Futures are at 4739.0 for a loss of -5.50 points. The Russell Futures are at 1215.6 for for a loss of -1.80 points.

In overnight trading in the Eastern Hemisphere Japan’s Nikkei 225 is at 16391.45 for a loss of -244.32 points or -1.47 percent. Hong Kong’s Hang Seng Index is at 22129.14 for a gain of 237.77 points or 1.09 percent. China’s Shanghai Composite is at 2971.28 for a gain of 17.89 points or 0.61 percent. India’s S&P BSE Sensex is at 27981.71 for a loss of -21.41 points or -0.08 percent. In Europe, the FTSE 100 Index is at 6661.05 for a loss of -32.90 points or -0.49 percent. Germany’s DAX is at 10192.48 for a loss of -138.04 points or -1.34 percent. France’s CAC 40 is at 4346.25 for a loss of -62.92 points or -1.43 percent. The Stoxx Europe 600 Index is at 336.48 for a loss of -3.38 points or -0.99 percent.

Tuesday’s Factors and Events

On the economic calendar for Tuesday is the following: Motor Vehicle Sales, Personal Income and Outlays and the Gallup US ECI. On Tuesday, Rob Kaplan from the Federal Reserve will be speaking. The Treasury will also hold an auction for 4-week bills. Motor vehicle sales for July will be in the spotlight after positive reports on manufacturing data was released on Monday. Brexit could have negative affects on auto sales overall. Also on close watch for Tuesday will be oil prices and the inflation data from the Personal Income and Outlays report. Oil prices dropped nearly 4 percent on Monday and oil price levels will continue to affect inflation data overall.

In pre-market trading, the following stocks are trading actively: Ulta Salon Cosmetics, Exxon Mobil, Transocean, Deere & Co., Netflix, Apple, Facebook and Celgene.

Approximately 250 companies will report earnings on Tuesday. In the Dow Jones Industrial Average, Pfizer and Procter and Gamble will be reporting earnings.

Monday’s Activity

On Monday, stock momentum slowed in equities. The Dow Jones Industrial Average was lower at 18404.51 for a loss of -27.73 points or -0.15 percent. The S&P 500 closed at 2170.84 for a loss of -2.76 points or -0.13 percent. The Nasdaq Composite was higher at 5184.20 for a gain of 22.06 points or 0.43 percent.

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Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.

Other notable index closes in the U.S. included the small-cap Russell 2000, lower at 1219.12 for a loss of -0.82 points or -0.07 percent; the S&P 600 Small-Cap Index, lower at 743.28 for a loss of -0.70 points or -0.09 percent; the S&P 400 Mid-Cap Index closing at 1555.08 for a loss of -4.38 points or -0.28 percent; the S&P 100 Index closing at 961.79 for a gain of 0.04 points or 0.01 percent; the Russell 3000 Index closing at 1282.46 for a loss of -1.81 points or -0.14 percent; the Russell 1000 Index closing at 1202.66 for a loss of -1.77 points or -0.15 percent; and the Dow Jones U.S. Select Dividend Index closing at 621.56 for a loss of -2.15 points or -0.34 percent.

Julie Young

julie@dowfutures.org

Julie Young is a Senior Market Reporter and Analyst

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