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Jul 22, 2016

U.S. Stock Market Future Indications, by MarketWatch - July 22, 2016: U.S. Stocks Poised For a Return to Winning Ways

Carla Mozee

U.S. stock futures pointed to a higher open Friday, with investors set for another heavy round of corporate earnings reports, which could help the Dow return to setting fresh highs.
Investors will get quarterly results from General Electric Co. and American Airlines Group Inc., as they also assess a stack of late Thursday reports from Starbucks Corp., Visa Inc. and others.
Dow Jones Industrial Average futures YMU6, +0.17% were up 37 points, or 0.2%, to 18,471.00, while futures for the S&P 500 ESU6, +0.20% picked up 4.85 points, or 0.2%, at 2,162.75. Nasdaq-100 futures NQU6, +0.21%  gained 11.25 points, or 0.2%, to 4,649.50.
On Thursday, the Dow DJIA, -0.42% snapped a nine-session string of gains and ended a streak of all-time closing highs at seven. That came in part as chip maker Intel Corp. INTC, -3.98%  sank 4% on a disappointing quarterly revenue result. The Dow’s run of record highs and winning streak were the longest since March 2013.
“Stock markets entered a slippery decline during trading on Thursday, as the terrible combination of disappointing earnings, central bank inaction and recurrent concerns over the global economy weighed heavily on sentiment,” said Lukman Otunuga, FXTM research analyst, in a note.
Thursday’s “declines in global stocks should be no surprise ... most major markets are tired,” he said.
The S&P SPX, -0.36% on Thursday dropped 7.85 points, or 0.4%, to 2,165.17, pulling back from Wednesday’s record closing high. The Nasdaq-100 COMP, -0.31%  lost 16.03 points, or 0.3%, to 5,073.90.
Data: Markit’s first July reading of its manufacturing purchasing managers’ index is due at 9:45 a.m. Eastern Time. Analysts polled by FactSet are looking for a reading of 51.5, which is still above the 50 level that indicates expansion.
There are no Fed speakers, as policy makers head into their meeting on July 26 and 27.
Corporates: Ahead of the bell, earnings reports are due from industrial conglomerate General Electric Co. GE, -0.58%   and appliance maker Whirlpool Corp. WHR, -0.52%  .
Also on the earnings docket are industrial-sector heavyweight Honeywell International Inc. HON, -1.02%  , American Airlines Group Inc. AAL, -2.67%  and apparel maker VF Corp. VFC, -1.64%  , whose brands include Wrangler, Lee and The North Face.
Shares of Advanced Micro Devices Inc. AMD, -3.51%  9% premarket after the chip maker late Thursday swung to a quarterly profit and reported its first sales increase in almost two years.
Facebook's Aquila web drone completes first flight
See the first full-scale test flight of Aquila, its unmanned solar airplane that will beam internet to remote parts of the world.
Starbucks Corp. shares SBUX, +0.10%  could be active after the Seattle-based coffee retailer missed its quarterly sales target, citing international and domestic political and social unrest as the reason for its disappointing results.
Boeing Co. shares BA, -0.88%   may move after the aircraft maker warned second-quarter charges could reach $2.05 billion.
Chipotle Mexican Grill Inc. CMG, -0.38%  shares could be active after it posted an 82% slide in quarterly profit late Thursday. The restaurant chain enacted costly promotions to win back customers following outbreaks of foodborne illness last year.
PayPal Holdings Inc. PYPL, +0.20%   shares may be active after the payment services provider late Thursday posted a rise in revenue. It also announced a deal that will make it easier for consumers to use a Visa credit or debit card when paying with PayPal.
Visa Inc. V, -0.72% meanwhile, posted a 76% decline in quarterly earnings on charges related to a deal for its European operations.
SPX, -0.36% Other markets: Gold GCQ6, -0.58%  were down 0.5% at $1,324.30. The U.S. Dollar Index DXY, +0.16%  was up 0.1% at 97.129. Oil prices CLU6, -0.11%  were off 0.2% at $44.65 a barrel. European stocks SXXP, -0.21%  shed 0.3% a day after the ECB left monetary policy unchanged. In Japan, the Nikkei Average NIK, -1.09%  ended 1.1% lower, as Asian markets fell.