U.S. Markets Down, Earnings Call

U.S. stock futures were way down this morning as the market opened sharply lower following a strong decline in global stock markets. Futures for the Dow Jones Industrial Average tumbled 153 points to 12,620.00 and S&P 500 index futures fell 16.50 points to 1,341.70. Nasdaq 100 futures dropped 34.75 points to 2,578.50.

U.S. stocks closed lower on Friday, with the Dow Jones Industrial Average dropping 0.93% to 12,822.57, the S&P 500 index falling 1.01% to 1,362.66 and the Nasdaq 100 index dipping 1.37% to 2,925.30.

Earnings Outlook
McDonald's (NYSE: MCD) is expected to post its Q2 earnings at $1.38 per share on revenue of $6.94 billion. Texas Instruments (NYSE: TXN) is projected to post its Q2 EPS at $0.41 on revenue of $3.35 billion. Halliburton (NYSE: HAL) is projected to report its Q2 earnings at $0.75 per share on revenue of $6.93 billion.

Eaton (NYSE: ETN) is estimated to post its Q2 earnings at $1.09 per share on revenue of $4.25 billion. Celanese (NYSE: CE) is estimated to post its Q2 EPS at $1.40 on revenue of $1.73 billion. Coca-Cola Enterprises (NYSE: CCE) is projected to post its Q2 earnings at $0.73 per share on revenue of $2.27 billion.

RPM International (NYSE: RPM) is expected to report its Q4 EPS at $0.61 on revenue of $1.08 billion. Hasbro (NASDAQ: HAS) is estimated to report its Q2 earnings at $0.24 per share on revenue of $832 million. Sonic Automotive (NYSE: SAH) is expected to report its Q2 EPS at $0.41 on revenue of $2.18 billion. PetMed Express (NASDAQ: PETS) is projected to report its Q1 earnings at $0.23 per share on revenue of $77.3 million.

European markets were lower today. The STOXX Europe 600 Index declined 1.85%, French CAC 40 index fell 2.14%. London's FTSE 100 Index moved down 1.66% and German DAX 30 index dropped 1.59%.

Asian markets ended lower, with Japan's Nikkei Stock Average dropping 1.86%, China's Shanghai Composite falling 1.26% and Australia's S&P/ASX 200 moving down 1.69%. Hong Kong's Hang Seng index dropped 2.99% and India's Sensex fell 1.64%.

The euro fell 0.4% against the dollar to trade at $1.2107. The dollar index (DXY) gained 0.4% to 83.790.

Nymex crude-oil futures declined $2.93 to trade at $88.90 a barrel in electronic trade, while gold futures dropped $11.40 an ounce to $1,571.40.

BY Monica Gerson