US stock index futures point to higher open
Friday, 24 July 2009
NEW YORK, Jul 23 (Reuters): Stock index futures pointed to a higher open on Wall Street on Thursday, as investors braced themselves for a slew of earnings news including results from Microsoft, McDonald's and American Express.
At 5.10 a.m. ET futures for the S&P 500 were up 0.4 per cent, Dow Jones futures were 0.3 per cent higher and the Nasdaq 100 futures were up 0.5 per cent. European shares rose for a ninth straight session on Thursday, with better-than-expected results by Credit Suisse boosting financials, while drugmakers were in demand after Roche raised guidance.
The FTSEurofirst 300 index was up 0.2 per cent at 892.05 points, at 5.10 a.m.
Microsoft is reporting fourth-quarter earnings with analysts expecting the company to earn 36 cents per share compared with 46 cents a year ago.
McDonald's reports second-quarter earnings with analysts expecting earnings per share at 97 cents compared with 94 cents last year.
American Express, the largest credit card company by sales is reporting second-quarter numbers with analysts expecting earnings per share at 27 cents compared with 56 cents a year ago.
Ford is expected to post a second-quarter loss amid the economic downturn, with analysts expecting a loss of 50 cents a share compared with 62 cents a year ago.
Analysts expect Amazon.com second-quarter earnings per share to come in at 31 cents compared with 37 cents a year ago.
Safeway is to report second-quarter numbers, with analysts expecting earnings per share at 55 cents compared with 53 cents a year ago.
Bristol-Myers Squibb - one of the rare drugmakers not to be dramatically hurt by generic competition - is expected to earn 47 cents a share compared with 43 cents a year ago when it reports second-quarter results.
Shares of eBay edged up 3.3 per cent after the bell on Wednesday after the company reported results.
Shares of rating agency Moody's fell 3.5 per cent after the close on Wednesday after Warren Buffett reported a reduced stake in the company.
A surprise ratings flip-flop by Standard & Poor's cast a cloud of uncertainty over the $700 billion US market for commercial mortgage-backed securities and further tarnished the ratings firm's credibility, according to the Wall Street Journal.
Research In Motion Ltd warned BlackBerry users in the United Arab Emirates that a software upgrade recommended by their wireless carrier was actually surveillance software that could enable unauthorized access to the popular smart phone, said the Wall Street Journal.
The Labor Dept. releases first-time claims for jobless benefits for the week ended July 18 at 8.30 a.m. Economists in a Reuters survey forecast a total of 550,000 new filings compared with 522,000 in the prior week.
National Association of Realtors releases existing home sales for June at 1400 GMT. Economists in a Reuters survey forecast a 4.84 million annualized unit total versus 4.77 million annualized units in May.
The Nasdaq rose on Wednesday for the 11th straight day, buoyed by solid profits from Apple Inc and Starbucks Corp, while disappointing bank results and declining energy shares weighed on the broader market.
The Dow Jones industrial average .DJI shed 0.39 per cent, the Standard & Poor's 500 Index .SPX dipped 0.05 per cent, but the Nasdaq Composite Index .IXIC gained 0.53 per cent.
At 5.10 a.m. ET futures for the S&P 500 were up 0.4 per cent, Dow Jones futures were 0.3 per cent higher and the Nasdaq 100 futures were up 0.5 per cent. European shares rose for a ninth straight session on Thursday, with better-than-expected results by Credit Suisse boosting financials, while drugmakers were in demand after Roche raised guidance.
The FTSEurofirst 300 index was up 0.2 per cent at 892.05 points, at 5.10 a.m.
Microsoft is reporting fourth-quarter earnings with analysts expecting the company to earn 36 cents per share compared with 46 cents a year ago.
McDonald's reports second-quarter earnings with analysts expecting earnings per share at 97 cents compared with 94 cents last year.
American Express, the largest credit card company by sales is reporting second-quarter numbers with analysts expecting earnings per share at 27 cents compared with 56 cents a year ago.
Ford is expected to post a second-quarter loss amid the economic downturn, with analysts expecting a loss of 50 cents a share compared with 62 cents a year ago.
Analysts expect Amazon.com second-quarter earnings per share to come in at 31 cents compared with 37 cents a year ago.
Safeway is to report second-quarter numbers, with analysts expecting earnings per share at 55 cents compared with 53 cents a year ago.
Bristol-Myers Squibb - one of the rare drugmakers not to be dramatically hurt by generic competition - is expected to earn 47 cents a share compared with 43 cents a year ago when it reports second-quarter results.
Shares of eBay edged up 3.3 per cent after the bell on Wednesday after the company reported results.
Shares of rating agency Moody's fell 3.5 per cent after the close on Wednesday after Warren Buffett reported a reduced stake in the company.
A surprise ratings flip-flop by Standard & Poor's cast a cloud of uncertainty over the $700 billion US market for commercial mortgage-backed securities and further tarnished the ratings firm's credibility, according to the Wall Street Journal.
Research In Motion Ltd warned BlackBerry users in the United Arab Emirates that a software upgrade recommended by their wireless carrier was actually surveillance software that could enable unauthorized access to the popular smart phone, said the Wall Street Journal.
The Labor Dept. releases first-time claims for jobless benefits for the week ended July 18 at 8.30 a.m. Economists in a Reuters survey forecast a total of 550,000 new filings compared with 522,000 in the prior week.
National Association of Realtors releases existing home sales for June at 1400 GMT. Economists in a Reuters survey forecast a 4.84 million annualized unit total versus 4.77 million annualized units in May.
The Nasdaq rose on Wednesday for the 11th straight day, buoyed by solid profits from Apple Inc and Starbucks Corp, while disappointing bank results and declining energy shares weighed on the broader market.
The Dow Jones industrial average .DJI shed 0.39 per cent, the Standard & Poor's 500 Index .SPX dipped 0.05 per cent, but the Nasdaq Composite Index .IXIC gained 0.53 per cent.