Futures were higher this morning ahead of the busiest week of earnings season. The Dow has a three-day losing streak, but the S&P 500 is coming off its first gain in three days and the Nasdaq saw its first gain in four sessions Monday.
Government Report Notes:
Housing data have been bumpy including the Federal Housing Finance Agency (FHFA) house price index where growth has been slowing. Home prices have been cooling along with sales and another indicator for the housing sector.
- The FHFA house price index has report showed a 0.2 percent gain, lower than the 0.4 percent analyst estimates.
Overnight Market Notes:
- MSCI Asia Pacific Index rose 0.6 percent while the Shanghai Composite Index closed 1.6 percent higher.
- Japan’s Topix index ended the session with a 0.5 percent gain as machinery makers were the biggest winners.
- In Europe, the Stoxx 600 Index was 1.0 percent higher at 5:50 a.m. amid positive earnings data.
- S&P 500 futures are pointing to a gain at the open.
This morning’s collection of earnings reports is highlighted by three Dow components: 3M, United Technologies, and Verizon.
- Other notable earnings reports today include AT&T, Ameriprise Financial, Chubb, Stryker, Texas Instruments, UBS, Biogen, Eli Lilly, JetBlue Airways, and Lockheed Martin.