U.S. Market Futures Pointing Up after Losses

U.S. stock futures are pointing higher in pre-market trading for Tuesday, August 9 after stocks finished mostly lower on Monday. The Dow Futures are at 18470.0 for a gain of 10.00 points. The S&P 500 Futures are at 2176.25 for a gain of 0.75 points. The Nasdaq Futures are higher at 4782.25 for a gain of 3.00 points. The Russell Futures are showing a gain at 1228.8, up 1.60 points.

In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 is at 16764.97 for a gain of 114.40 points or 0.69 percent. Hong Kong’s Hang Seng Index is at 22465.61 for a loss of -29.15 points or -0.13 percent. China’s Shanghai Composite is at 3025.68 for a gain of 21.40 points or 0.71 percent. India’s S&P BSE Sensex is at 28058.97 for a loss of -123.60 points or -0.44 percent. In Europe, the FTSE 100 Index is at 6832.47 for a gain of 23.34 points or 0.34 percent. Germany’s DAX Index is at 10493.43 for a gain of 61.07 points or 0.59 percent. France’s CAC 40 is at 4438.24 for a gain of 22.78 points or 0.52 percent. The Stoxx Europe 600 Index is at 342.56 for a gain of 1.03 points or 0.30 percent.

Tuesday’s Factors and Events

On the economic calendar for Tuesday is the following: the NFIB Small Business Optimism Index, a report on Productivity and Costs and Wholesale Trade. The Treasury will also hold its 4-Week Bill and 3-Yr Note Auctions. Investors will continue to watch rates after the Bank of England lowered its central bank rate but the Federal Reserve is likely to increase its federal funds rate later this year.

Stocks trading actively in the pre-market include the following: Bristol-Myers Squibb, Viacom, Genuine Parts, Tractor Supply, Cognizant Technology, Helmerich and Payne, Newfield Exploration, CF Industries Holdings, Inc., Mosaic and Wynn Resorts.

Approximately 250 companies will be reporting earnings on Tuesday. Highlights will be from Charter Communications and Disney. Stock valuations continue to trade thinly with the major indexes all poised for potentially new all-time highs.

Monday’s Activity

On Monday stocks were mostly lower. For the day the Dow Jones Industrial Average closed at 18529.29 for a loss of -14.24 points or -0.08 percent. The S&P 500 was also down, closing at 2180.89 for a loss of -1.98 points or -0.09 percent. The Nasdaq Composite closed lower at 5213.14 for a loss of -7.98 points or -0.15 percent.

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

Other notable index closes included the small-cap Russell 2000 Index, lower at 1230.42 for a loss of -0.88 points or -0.07 percent; the S&P 600 Small-Cap Index, lower at 745.69 for a loss of -0.98 points or -0.13 percent; the S&P 400 Mid-Cap Index, higher at 1562.57 for a gain of 0.02 points or 0.01 percent; the S&P 100 Index lower at 965.98 for a loss of -0.94 points or -0.10 percent; the Russell 3000 Index lower at 1288.57 for a loss of -1.03 points or -0.08 percent; the Russell 1000 Index lower at 1207.96 for a loss of -0.97 points or -0.08 percent; and the Dow Jones U.S. Select Dividend Index at 620.98 for a gain of 0.38 points or 0.06 percent.

Julie Young

julie@dowfutures.org

Julie Young is a Senior Market Reporter and Analyst

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