U.S. stock-index futures rose today after three straight days of losses as Amazon, Visa and Starbucks beat expectations. Nasdaq-100 futures rose 0.2 percent to 4,629. S&P 500 futures edged up 0.1 percent to 2,100, while those for the Dow Jones Industrial Average gained 0.1 percent to 17,686.
Fifteen S&P 500 companies report quarterly results today. Analysts now call for a 5.3 percent drop in second-quarter profit for the equity gauge’s members, shallower than July 10 estimates for a 6.4 percent decline.
Second-quarter S&P 500 earnings have been mixed, with 75 percent of companies so far beating analysts' profit expectations but just 52 percent surpassing revenue expectations, according to Thomson Reuters data.
U.S. stocks ended lower yesterday, with the blue-chip Dow Jones industrial average slipping back into the red for the year, after disappointing corporate results and forecasts added to concerns about the U.S. profit outlook.
DATA:
Investors are watching for a July preliminary reading on U.S. manufacturing activity due at 9:45 a.m.
A report on June new-home sales is expected at 10 a.m. It may show new home sales increased at a faster annualized pace in June than the prior month, according to forecasts.
MOVERS:
Amazon (NASDAQ:AMZN) surged 20 percent after posting a surprise second-quarter profit on top of sales that beat analysts’ estimates.
Starbucks (NASDAQ:SBUX) climbed 5.5 percent after the world’s biggest coffee-shop chain posted a 22 percent increase in quarterly profit.
Visa (NYSE:V) rallied 6.1 percent after the world's largest payments network reported profit that beat predictions.
Xerox (NYSE:XRX) skidded 0.8 percent ahead of the bell after the provider of printers and business services provided a downbeat outlook.
Cigna (NYSE:CI) fluctuated between gains and losses following news that rival health insurer Anthem (NYSE:ANTM) plans to buy the company in a $54 billion deal.
Biogen (NASDAQ:BIIB) tumbled 12 percent after the maker of multiple sclerosis drug Tecfidera cut its 2015 earnings forecast.
Newmont Mining (NYSE:NEM), the biggest U.S. gold miner, slipped 0.5 percent after quarterly results missed estimates.
TripAdvisor (NASDAQ:TRIP) sank 6.9 percent after the online travel company reported earnings and sales fell short of projections.
American Airlines (NASDAQ:AAL) rose 2.6 percent after the company's quarterly profit beat estimates.
COMMODITIES:
Spot gold hit a low of $1,077.00 an ounce and was down 1.1 percent at $1,079.20. U.S. gold futures for August delivery were down $15.90 an ounce at $1,078.20.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded up 0.5 percent at $48.70 a barrel.
OTHER STOCKS:
European stocks rose slightly after yet another sign of a modest recovery in the eurozone economy. The Stoxx Europe 600 rose 0.2 percent and France’s CAC-40 gained 0.4 percent.