Monday, 31 July 2017

Optimism takes on Wall Street ahead of fresh jobs data

Posted by Anonymous at 14:53 Labels:

Wall Street top three stock indexes were set for a higher open in pre-session hours on Monday, with market players looking ahead of key employment data by the end of this week.

Last week, US markets ended in red territory, with Amazon stocks closing down by 2.5 percent after falling more than four percent during the session in the light of downbeat earnings.

According to the latest report, second-quarter earnings per share came in at $0.40, much lower than an initially forecasted earnings of $1.42 a share. Sales outperformed expectations.

The Nasdaq composite closed 0.1 percent to the downside at 6,374.68, as FAANG (Facebook, Amazon, Apple, Netflix, Google) stocks weighed heavily on the tech index.

The Dow Jones industrial average added 33.76 points to trade at 21,830.31 by the closing bell. The S&P 500 fell 0.13 percent to 2,472.10, with consumer staples pushing other sectors lower.

  • Dow Jones Industrial Average: 33.76 / 0.15% / 21830.31
  • Standard & Poor’s 500: -3.32 / -0.13% / 2472.10
  • Nasdaq Composite: -7.51 / -0.12% / 6374.68

On the data front, the Commerce Department said second-quarter gross domestic product came in line with market analysts expectations at a 2.6 percent growth rate.

In a separate report, the University of Michigan showed a better-than-expected development of of consumer expectations and consumer sentiment in July. According to the report, they came in at 80.5 and 93.4 respectively, both above forecasted values.

Ahead in the session, the Chicago PMI for July is up at 13:45 GMT, with 61.0 on the watch, while pending home sales for June are set for release fifteen minutes later.

1 comment :

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