U.S. Market Futures Pointing Higher with Earnings in the Spotlight

U.S. stock futures are higher in pre-market trading for Tuesday, July 12. The Dow Futures are at 18226.0 for a gain of 79.00 points. The S&P 500 Futures are higher at 2140.5 for a gain of 10.25 points. The Nasdaq Futures are higher at 4573.25 for a gain of 23.75 points. The Russell Futures are higher at 1195.0 for a gain of 7.50 points.

In overnight trading in the Eastern Hemisphere Japan’s Nikkei 225 was higher at 16095.65 for a gain of 386.83 points or 2.46 percent. Hong Kong’s Hang Seng was higher at 21224.74 for a gain of 344.24 or 1.65 percent. China’s Shanghai Composite was higher at 3049.38 for a gain of 54.46 points or 1.82 percent. India’s S&P BSE Sensex was higher at 27808.14 for a gain of 181.45 points or 0.66 percent.

In Europe, the FTSE 100 was higher at 6685.55 for a gain of 2.69 points or 0.04 percent. Germany’s DAX was higher at 9996.53 for a gain of 163.12 points or 1.66 percent. France’s CAC 40 was higher at 4333.97 for a gain of 69.44 points or 1.63 percent. The Stoxx Europe 600 was higher at 335.95 for a gain of 3.23 points or 0.97 percent.

Tuesday’s Factors and Events

The leading economic reports on Tuesday will be the NFIB Small Business Optimism Index, JOLTS and Wholesale Trade. Fed officials speaking Tuesday will be James Bullard, Neel Kashkari and Loretta J. Mester. On Tuesday the Treasury will auction the 4-week bill and the 10-year note.

Stocks trading actively in the pre-market include the following Seagate Technology, Chesapeake Energy, Marathon Oil, FMC Technologies, Newmont Mining and Cardinal Health.

Earnings for the day include the following Alimentation, Fastenal Company, Midwest Energy Emissions Corp., Rocky Mountain Chocolate Factory, Inc., ADTRAN, Inc., AAR Corporation, CSX Corporation, AKASTOR, Alstom, Barratt Developments, Burberry Group, AngioDynamics, Inc., DragonWave Inc., Saratoga Investment and Yum! Brands, Inc.

The S&P 500 closed at a new high on Monday. Stocks are expected to keep climbing as Tuesday is Amazon Prime Day in which Amazon hosts an entire online market of sales.

Monday’s Activity

For the day the Dow Jones Industrial Average closed at 18226.93 for a gain of 80.19 points or 0.44 percent. The S&P 500 was also higher, closing at 2137.16 for a gain of 7.26 points or 0.34 percent. The Nasdaq Composite closed higher at 4988.64 for a gain of 31.88 points or 0.64 percent.

Other notable index closes included the small-cap Russell 2000, higher at 1190.03 for a gain of 12.67 points or 1.08 percent; the S&P 600 closing higher at 730.53 for a gain of 8.13 points or 1.13 percent; the S&P 400 Mid-Cap Index closing at 1529.13 for a gain of 8.71 points or 0.57 percent; the S&P 100 Index closing at 945.64 for a gain of 3.39 points or 0.36 percent; the Russell 3000 Index closing at 1261.19 for a gain of 5.22 points or 0.42 percent; the Russell 1000 Index closing at 1183.43 for a gain of 4.28 points or 0.36 percent; and the Dow Jones U.S. Select Dividend Index closing at 618.66 for a gain of 2.86 points or 0.46 percent.