Dow Futures Higher as Blue-Chip Earnings Roll In
Goldman Sachs stock is higher after earnings
Dow Jones Industrial Average (DJI) futures are inching higher, setting the index up for another round of all-time highs, as traders cheer earnings from Goldman Sachs (GS). On the other hand, fellow blue chips Johnson & Johnson (JNJ)and JPMorgan Chase (JPM) are pointed lower after earnings. Elsewhere, President Donald Trump responded to comments from billionaire tech investor Peter Thiel, who accused Alphabet's (GOOGL) Google of working with the Chinese government. Trump, in a tweet this morning, said his administration "will take a look."
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2 things to note about SPY open interest this week, per Schaeffer's Senior V.P. of Research Todd Salamone. Pre-earnings call traders are blitzing Microsoft.Analysts weighed on in Amazon stock during the first half of "Prime Day." Plus, Domino'searnings flop; the car stock Goldman is selling; and PayPal introduces Xoom to Europe.
5 Things You Need to Know Today
The Cboe Options Exchange (CBOE) saw 807,742 call contracts traded on Monday, compared to 473,581 put contracts. The single-session equity put/call ratio landed at 0.59, while the 21-day moving average is 0.60.Domino's Pizza Inc (NYSE:DPZ) reported second-quarter earnings that came in ahead of analysts' estimates, but unveiled U.S. comparable-store sales that came in below expectations. In response, the equity is down 6.7% at $251.70 in electronic trading. Goldman Sachs this morning initiated coverage on automaker Fiat Chrysler Automobiles NV (NYSE:FCAU) with a "sell" rating, noting "limited scope for further earnings growth from North America." FCAU stock is down 3.9% at $13.62 in pre-market action. The shares of monetary transaction giant PayPal Holdings Inc (NASDAQ:PYPL) are 0.6% higherahead of the bell, after the firm introduced its international money transfer service Xoom to 32 European markets, including Britain. Today's calendar includes data on retail sales, import and export prices, industrial production, business inventories, and the National Association of Home Builders housing market index. Goldman Sachs (GS), Johnson & Johnson (JNJ), JPMorgan Chase (JPM), CSX (CSX), United Airlines (UAL), and Wells Fargo (WFC) will step into the earnings confessional.
Burberry Stock Gives British Market a Boost
It was a rather quiet trading session in Asia, where the major bourses closed mixed. On the positive side, the Hang Seng added 0.2% and the Kospi closed up 0.5%. Finishing in the red was China's Shanghai Composite, down 0.2% at the close, and Japan's Nikkei, which fell 0.7%.
Stocks are mostly higher today in Europe. In London, the FTSE 100 is up 0.5%, getting a boost from Burberry shares, which are rallying thanks to upbeat earnings. There was also important economic data out of the region, as British wages jumped to an 11-year high in May, and unemployment remained near a multi-decade low. Meanwhile, France's CAC 40 is also up 0.5%, and Germany's DAX is sporting a 0.2% lead.