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Julie Young
Julie Young
Articles (1238) 

Stock Momentum Easing Tuesday With Leading Dow Earnings in the Spotlight

US equities are flat after new highs, list companies reporting 2nd quarter earnings

July 19, 2016 | About:

U.S. stock futures are pointing lower in pre-market trading for Tuesday, July 19, as the U.S. stock market appears to be cooling off ahead of a long list of second quarter earnings.

Leading Dow earnings in the spotlight for Tuesday include Goldman Sachs (NYSE:GS) and Microsoft (NASDAQ:MSFT).

Other earnings reports also on the calendar for the day include the following: TD Ameritrade Holding Corporation, Belden Inc., Genuine Parts Company, W.W. Grainger Inc., Hanmi Financial Corporation, Kuehne & Nagel International AG, Kone Oyj, Kansas City Southern, Lockheed Martin, Neogen Corporation, Prologis, Telenor ASA, Tile Shop Holdings Inc., UbiSoft Entertainment Inc., Wipro Limited, Allied World Assurance Company Holdings, AG, Cintas Corporation, Discover Financial Services, Exponent Inc., First Midwest Bancorp Inc., Fulton Financial Corporation, Blackhawk Network Holdings, Inc., Helix Energy Solutions Group, Inc.., Interactive Brokers Group Inc., Intuitive Surgical Inc., LegacyTexas Financial Group Inc., Manhattan Associates Inc., Navient Corp., Pinnacle Financial Partners Inc., Pzena Investment Management Inc., RLI Corp., Renasant Corporation, United Financial Bancorp Inc., United Community Financial Corp., WesBanco and Wintrust Financial Corporation.

In pre-market trading Tuesday, the Dow Futures are down at 18433.0 for a loss of -18.00 points. The S&P 500 Futures are down -6.00 points at 2154.0. The Nasdaq Futures are lower at 4597.0 for a loss of -11.25 points. The Russell Futures are showing a loss of -3.60 points at 1200.6.

In overnight trading in the Eastern Hemisphere Tuesday, Asian stocks traded mixed with Japan’s Nikkei 225 higher at 16723.31; Hong Kong’s Hang Seng down at 21673.20; China’s Shanghai Composite lower at 3036.60 and India’s S&P BSE Sensex higher at 27787.62. In Europe, the FTSE 100 is lower at 6669.28; Germany’s DAX is lower at 9939.83; France’s CAC 40 is lower at 4310.42; and the Stoxx Europe 600 is lower at 335.57.

Tuesday’s Factors and Events

Stocks are pointing lower in pre-market trading as valuations are easing slightly after new highs and a long list of earnings are on the corporate calendar for Tuesday. On the economic calendar, the only leading market report is Housing Starts which will be released at 8:30 AM EST.

Goldman Sachs and Microsoft

In the pre-market, Goldman Sachs has reported second quarter earnings of $3.72 beating analysts’ expectation by 72 cents. Revenue for Goldman Sachs in the second quarter was $7.93 billion, down 12.6% from the comparable quarter and beating estimates by $350 million.

In a report Tuesday, CNBC had the following insight about Microsoft’s second quarter.

Disclosure: I do not own any shares of any stocks included in this article.

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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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