Search This Blog

Search Tool

Asian Markets at Close Report

European Markets at Close Report

Aug 10, 2016

U.S. Stock Market Future Indications, by MarketWatch on August 10, 2016

U.S. stock futures hold near records as Wall Street’s stealth rally continues

Victor Reklaitis

U.S. stock futures on Wednesday pointed to a roughly flat open, putting the market on track for another day of muted action around record territory.
“Volumes have been very low as investors seem to be waiting for major market catalysts,” said Angus Nicholson, a market analyst for IG, in a note on Wednesday.
S&P 500 futures ESU6, +0.10% inched higher by 2.90 points, or 0.1%, to 2,180.50, while Dow Jones Industrial Average futures YMU6, +0.08%  edged up by 16 points, or 0.1%, to 18,482. Nasdaq-100 futures NQU6, +0.10%  tacked on 6.25 points, or 0.1%, to 4,798.
On Tuesday, the S&P 500 SPX, +0.03%  closed less than 0.1% higher, leaving the index roughly unchanged for the week and less than 0.1% below its record close, hit Friday. The Dow DJIA, +0.01% finished up less than 0.1%, and the blue-chip gauge is down 0.3% from its July 20 record close. The Nasdaq Composite tacked on 0.2% on Tuesday to score a fresh record close.
Read: The Dow at 20,000 in a year is now the consensus forecast
And see: This stock chart is proving the crash callers wrong
Other markets: Oil futures CLU6, +0.35%  traded lower, as investors were discouraged by the upward revision in the outlook for U.S. crude production. European stocks SXXP, -0.11% were little changed, while Asian markets closed mixed, with the yen’s strength keeping the Nikkei in check. Gold futures traded higher, as a key dollar index DXY, -0.60% dropped.
Economic news: A report on June job openings is slated to hit at 10 a.m. Eastern Time, and a weekly reading on U.S. oil supplies is expected at 10:30 a.m. Eastern.
Check out: MarketWatch’s Economic Calendar
Individual movers: Shares in Walt Disney Co. DIS, +0.10%  fell 1.7% in premarket trading after the entertainment giant late Tuesday reported better-than-expected quarterly profit and revenue. It also announced a direct-to-consumer streaming service for ESPN.
Also late Tuesday, SolarCity Corp. SCTY, +0.29%  posted a wider-than-expected quarterly loss. The largest home solar company in the U.S. by rooftop installations is in the process of being acquired by fellow Elon Musk company Tesla Motors Inc. TSLA, +0.31%
SunPower Corp. SPWR, -29.57%  fell 30% premarket after the maker of solar panels late Tuesday warned of challenges and said it would cut about 1,200 jobs, or 15% of its workforce.
Yelp Inc. YELP, +11.70%  jumped 13% premarket after the reviews website posted a surprise profit late Tuesday.
Handbags seller Michael Kors Holdings Ltd. KORS, -1.54%  slumped 4.2% after delivering quarterly results that beat expectations, but also giving a downbeat sales outlook, while fast-food chain Wendy’s Co. WEN, -5.20%  fell 3.5% as same-store sales disappointed.
Ralph Lauren Corp.  KORS, -1.54%  shares jumped after the luxury retail brand reported fiscal first quarter 2017 earnings and revenue that beat estimates.
Burger chain Shake Shack Inc. SHAK, +0.12%   is slated to report quarterly results after the closing bell.