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Market Enthusiastic Ahead Of Earnings Season


Busy earnings days are ahead, but it starts rather on a quiet note on Monday. Key bankers, technology companies and conglomerates would be reporting on the next weeks. Earlier signs from the U.S. Futures index points to a positive opening for Wall Street. Asian shares closed broadly higher, while European shares are trading mixed.

As of 6.30 am ET, the Dow futures were adding 20 points, the S&P 500 futures were progressing 2.00 points and the Nasdaq 100 futures were up 10 points.

U.S. stocks closed higher on Friday. The Dow rose 84.65 points or 0.4 percent to 21,637.74, the Nasdaq advanced 38.03 points or 0.6 percent to 6,312.47 and the S&P 500 climbed 11.44 points or 0.5 percent to 2,459.27.
On the economic front, the Fed's Empire State manufacturing survey, for July will be issued at 8.30 am ET. The economists are looking for consensus of 15.00, compared to 19.8 in June.

In the corporate sector, Quidel Corp. (QDEL) said it has entered into definitive agreements to acquire the Triage MeterPro cardiovascular and toxicology assets and the B-type Naturietic Peptide assay business run on Beckman Coulter analyzers from Alere Inc. The total consideration of $400 million plus $40 million in contingent consideration.
Asian stocks closed mostly higher on Monday. Chinese shares tumbled. The benchmark Shanghai Composite index fell 45.95 points or 1.43 percent to 3,176.46 while Hong Kong's Hang Seng index finished up 81.35 points or 0.31 percent at 26,470.58.

China's GDP grew 6.9 percent year-on-year in the second quarter of 2017 and on a quarterly basis, GDP growth stood at 1.7 percent - in line with expectations and up from 1.3 percent in the previous three months.

Australian shares ended a choppy session slightly lower. The benchmark S&P/ASX 200 index slid 9.60 points or 0.17 percent to 5,755.50 while the broader All Ordinaries index finished down 7.90 points or 0.14 percent at 5,800.80.

European shares are trading mixed. CAC 40 of France is declining 1.12 points or 0.02 percent. DAX of Germany is down 12.35 points or 0.10 percent. FTSE 100 of England is progressing 45.53 points or 0.62 percent. Swiss Market Index is up 1.40 points or 0.02 percent.

Euro Stoxx 50 , that provides a Blue-chip representation of supersector leaders in the Eurozone, is declining 0.69 percent.

by RTTNews Staff Writer

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