U.S. Market Futures Pointing Lower as Stocks Retreat

U.S. stock futures are mixed in pre-market trading for Friday, July 29. The Dow Futures are at 18355.0 for a loss of -21.00 points. The S&P 500 Futures are at 2162.75 for a loss of -2.00 points. The Nasdaq Futures are higher at 4720.5 for a gain of 0.75 points. The Russell Futures are showing a loss of -0.80 points at 1212.7.

In overnight trading in the Eastern Hemisphere Japan’s Nikkei 225 is at 16569.27 for a gain of 92.43 points or 0.56 percent. Hong Kong’s Hang Seng Index is at 21891.37 for a loss of -282.97 or -1.28 percent. China’s Shanghai Composite is lower at 2979.34 for a loss of -14.98 points or -0.50 percent. India’s S&P BSE Sensex is lower at 28051.86 for a loss of -156.76 or -0.56 percent. In Europe, the FTSE 100 is at 6715.50 for a loss of -5.56 points or -0.08 percent. Germany’s DAX is at 10319.50 for a gain of 44.57 points or 0.43 percent. France’s CAC 40 is at 4425.28 for a gain of 4.70 points or 0.11 percent. The Stoxx Europe 600 is at 340.73 for a gain of 1.26 points or 0.37 percent.

Friday’s Factors and Events

On Friday, the leading economic report on the calendar will be GDP. The GDP data will be on close watch as it could affect the Federal Reserve’s September decision for a rate increase. The FOMC said on Wednesday that economic conditions were improving which could lead to a rate increase later this year.

On the economic calendar for Friday is also the Employment Cost Index, Chicago PMI, Consumer Sentiment and Baker-Hughes Rig Count. Also on Friday will be speeches from John Williams and Rob Kaplan.

Stocks trading actively in the pre-market include the following: Alphabet, Amazon, Whole Foods Market, Electronic Arts, Wynn Resorts, Chesapeake Energy, Western Digital, Leucadia National and Newmont Mining.

Approximately 100 companies will report earnings Friday. In the Dow Jones Industrial Average, earnings reports for Exxon, Chevron and Merck are on the calendar for Friday.

Thursday’s Activity

For the day the Dow Jones Industrial Average was lower closing at 18456.35 for a loss of -15.82 points or -0.09 percent. The S&P 500 was higher, closing at 2170.06 for a gain of 3.48 points or 0.16 percent. The Nasdaq Composite closed higher at 5154.98 for a gain of 15.17 points or 0.30 percent.

Other notable index closes in the U.S. included the small-cap Russell 2000 Index, lower at 1217.33 for a loss of -1.60 points or -0.13 percent; the S&P 600 Small-Cap Index, lower at 742.86 for a loss of -2.45 points or -0.33 percent; the
S&P 400 Mid-Cap Index at 1553.44 for a gain of 4.95 points or 0.32 percent; the S&P 100 Index higher at 959.60 for a gain of 1.01 points or 0.11 percent; the Russell 3000 Index at 1281.78 for a gain of 2.17 points or 0.17 percent; the Russell 1000 Index at 1202.11 for a gain of 2.33 points or 0.19 percent; and the Dow Jones U.S. Select Dividend Index at 621.80 for a gain of 0.75 points or 0.12 percent.

Julie Young

[email protected]

Julie Young is a Senior Market Reporter and Analyst

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