U.S. Market Futures Pointing Higher with Positive Earnings Reports

U.S. stock futures are pointing higher in pre-market trading for Friday, August 12. The Dow Futures are higher at 18578.0 for a gain of 13.00 points. The S&P 500 Futures are higher at 2183.0 for a gain of 1.25 points. The Nasdaq Futures are higher at 4802.5 for a gain of 2.50 points. The Russell Futures are lower at 1227.0 for a loss of -0.30 points.

In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 is at 16919.92 for a gain of 184.80 points or 1.10 percent. Hong Kong’s Hang Seng Index is at 22766.91 for a gain of 186.36 points or 0.83 percent. China’s Shanghai Composite Index is at 3050.67 for a gain of 48.03 points or 1.60 percent. India’s S&P BSE Sensex is at 28152.40 for a gain of 292.80 points or 1.05 percent. In Europe, the FTSE 100 Index is at 6922.08 for a gain of 7.37 points or 0.11 percent. Germany’s DAX is at 10731.26 for a loss of -11.58 points or -0.11 percent. France’s CAC 40 is at 4504.27 for a gain of 0.32 points or 0.01 percent. The Stoxx Europe 600 is at 346.82 for a gain of 0.16 points or 0.05 percent.

Friday’s Factors and Events

Economic reports on the calendar for Friday include the following: the Producer Price Index, Retail Sales, Business Inventories, Consumer Sentiment and the Baker-Hughes Rig Count.

Approximately 50 companies will be reporting earnings on Friday. Retail stocks will continue to be in the spotlight. J.C. Penney will report earnings Friday.

Market indexes appear likely to gain with the futures market pointing higher after a positive trading day on Thursday. On Thursday, the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all reached new highs. Market momentum is positive as second quarter earnings continue to improve. Oil prices will be one factor that could slow gains as the energy sector continues to struggle with oversupply.

Thursday’s Activity

Stocks were higher on Thursday. For the day the Dow Jones Industrial Average closed at 18613.52 for a gain of 117.86 points or 0.64 percent. The S&P 500 was also higher, closing at 2185.79 for a gain of 10.30 points or 0.47 percent. The Nasdaq Composite closed higher at 5228.40 for a gain of 23.81 points or 0.46 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, higher at 1229.12 for a gain of 5.84 points or 0.48 percent; the S&P 600 Small-Cap Index, higher at 745.08 for a gain of 2.95 points or 0.40 percent; the S&P 400 Mid-Cap Index closing at 1560.09 for a gain of 3.11 points or 0.20 percent; the S&P 100 Index closing at 967.66 for a gain of 3.88 points or 0.40 percent; the Russell 3000 Index closing at 1291.02 for a gain of 5.89 points or 0.46 percent; the Russell 1000 Index closing at 1210.55 for a gain of 5.50 points or 0.46 percent; and the Dow Jones U.S. Select Dividend Index closing at 621.99 for a gain of 2.65 points or 0.43 percent.