The S&P 500 Futures are on the upside after they closed mixed on Thursday. In after-market hours, Apple (AAPL), Amazon.com (AMZN), Alphabet (GOOGL) and Facebook (FB) saw their share prices rise after posting upbeat earnings results.
Later today, June Personal Income (-0.6% on month expected), Personal Spending (+5.2% on month expected), July Market News International’s Chicago Purchasing Managers’ Index (a jump to 44.5 expected), and the University of Michigan’s Consumer Sentiment Index for the July (final reading at 72.9 expected) will be published.
European indices are bullish. The Eurozone’s GDP for the second-quarter was released at -12.1% vs a fall in annualized rate of -12.0%, and Consumer Prices for July was reported at -0.3% (vs -0.5% on month expected). In Germany, June Retail Sales were reported at -1.6% on month (vs -3.3% expected). In the U.K., the Nationwide House Price Index was released at +1.7% on month in July, vs -0.1% expected.
Asian indices closed in the red except the Chinese CSI. July Chinese Manufacturing PMI was released at 51.1, better than 50.7 expected. Non-Manufacturing PMI was released at 54.2 vs 54.1 expected. In Japan, June Unemployment rate was published at 2.8%, vs 3.1% expected. June Industrial production gained 2.7% on month, vs +1.2% expected.
WTI Crude Oil futures are rebounding. Later today, Baker Hughes will report the oil rig counts for the U.S. and Canada.
Gold rebounded, close from 2,000 dollars, on track for its best month in four years on COVID-19 fears.
Gold gained 17.17 dollars (+0.88%) to 1973.81 dollars.
The US dollar keeps consolidating as investors eyes Congress for stimulus.
The dollar index fell 0.18pt to 92.844.
U.S. Equity Snapshot
Apple (AAPL), the tech giant, reported third quarter EPS of 2.58 dollars, above estimates, up from 2.18 dollars a year ago, on revenue of 59.7 billion dollars, beating forecasts, up from 53.8 billion dollars last year. The Co also announced a 4-for-1 stock split. Shares jumped after hours following that release.
Source: TradingView, Gain Capital
Amazon.com (AMZN), the world largest online retailer and web services provider, disclosed second quarter EPS of 10.30 dollars, up from 5.22 dollars a year ago, on net sales of 88.9 billion dollars, up from 63.4 billion dollars a year earlier. Those figures beat estimates, sending the shares higher in extended trading.
Alphabet (GOOGL), Google’s holding company, released second quarter EPS of 10.13 dollars, beating forecasts, down from 14.21 dollars a year ago, on revenue of 38.3 billion dollars, higher than anticipated, down from 38.9 billion dollars a year earlier.
Facebook (FB), the largest online social network platform, posted second quarter EPS of 1.80 dollar, beating estimates, down from 1.99 dollar a year ago, on revenue of 18.7 billion dollars, better than expected, up from 16.9 billion dollars a year earlier. The stock price strongly increased in extended trading following that release.
Merck & Co (MRK), the pharma giant, is gaining ground before hours as the company reported quarterly results above estimates and raised its full year forecasts regarding adjusted EPS and sales.
Electronic Arts (EA), a global developer and publisher of video games, unveiled first quarter adjusted EPS of 1.42 dollar, exceeding estimates, up from 0.25 dollar a year ago, on adjusted sales of 1.4 billion dollars, above the consensus, up from 743.0 million dollars a year earlier.
Ford (F), the carmaker, gained some ground after hours as second quarter adjusted LPS was narrower than anticipated.
Gilead Sciences (GILD), a biopharmaceutical company focused on infectious diseases, lost ground in extending trading after posting disappointing quarterly earnings.
Caterpillar (CAT), the world’s largest manufacturer of heavy equipment for multiple industries, is climbing before hours as quarterly top and bottom lines beat estimates.
Chevron (CVX), an energy corporation, is sliding before hours as second quarter adjusted LPS was worse than expected.