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Feb 5, 2019

US Future Indications: Dow futures move higher ahead of earnings, Trump's State of the Union speech

Silvia Amaro

U.S. stock index futures moved higher Tuesday morning in premarket trade, as investors looked ahead to another set of corporate results and a key speech from President Donald Trump.
At around 7:30 a.m. ET, Dow Jones Industrial Average futures indicated a gain of more than 80 points at the open. S&P 500 futures also indicated slight gains while Nasdaq 100 futures pointed to a small decline.
Disney, Electronic Arts, Snap and Spirit Airlines are among the companies scheduled to report after the bell Tuesday. These reports come after Google-parent Alphabet reported better-than-expected earnings on Monday. However, shares of the tech giant fell 2 percent in the premarket as the company also revealed declining advertising prices and rising costs.
Archer Daniels Midland fell 2 percent after reporting weaker-than-expected earnings and revenue. Estee Lauder, meanwhile, jumped 9.4 percent on better-than-expected results. The company also raised its 2019 earnings guidance.
President Trump will address the Congress with his 2019 State of the Union Speech later Tuesday. Money managers will be looking for comments on trade and the broader U.S. economy.
On the data front, investors are likely to monitor services PMIs and ISM non-manufacturing numbers due at 9:45 a.m. and 10 a.m. ET, respectively.
Wall Street started the week on a positive footing with the Dow Jones Industrial Average closing more than 175 points higher. The positive sentiment was driven by corporate earnings, mainly in the tech sector.

Source: CNBC

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