US stock futures are mixed as investors look ahead to the earnings deluge

U.S. stock index futures were mixed on Thursday morning as investors gear up for a busy day of earnings.

Around 5 a.m. ET, Dow futures pointed to a gain of 26 points at the open, while the S&P 500 was seen fractionally higher and the Nasdaq looked set to slide.

Both the S&P 500 and Nasdaq Composite reached all-time highs Wednesday, buoyed by a rally in chip stocks, while the Dow Jones Industrial Average closed lower following disappointing earnings from Boeing and Caterpillar.


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Investors continue to monitor trade developments with U.S. and Chinese negotiators set to meet next week. However, U.S. Treasury Secretary Steven Mnuchin told CNBC on Wednesday that the two nations still have a lot of issues to work out.

Meanwhile, the European Central Bank is set to announce its latest monetary policy decision, with traders speculating that President Mario Draghi could signal a September rate cut with a change in guidance on Thursday.

Nasdaq stocks will be in focus Thursday after the Justice Department announced a broad antitrust review of big tech companies, while Google’s parent Alphabet and Amazon are due to report earnings after the bell.

Bristol-Myers Squibb, Comcast, 3M, and Dow are all due to report before the bell.

In terms of data, last week’s jobless claims figures are due at 8:30 a.m. ET, along with June’s durable goods orders and advance economic indicators. Second-quarter housing vacancies data is due at 10 a.m. while July’s Kansas City Fed survey is scheduled for 11 a.m.

Source: cnbc.com | Original Link

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