Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dow Futures 90 Points Higher; Earnings Impress Ahead of Jobless Claims

Stock MarketsJul 22, 2021 06:59AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening higher Wednesday, buoyed by signs of a strong corporate earnings season ahead of the release of key unemployment data.

At 7 AM ET (1100 GMT), the Dow Futures contract was up 90 points, or 0.3%, S&P 500 Futures traded 10 points, or 0.2%, higher and Nasdaq 100 Futures gained 24 points, or 0.2%.

The major equity indices closed higher Wednesday, with the Dow Jones Industrial Average gaining almost 300 points, or 0.8%, the S&P 500 rising 0.8%, and the Nasdaq Composite rising 0.9%. Adding to Tuesday’s gains, this means Wall Street had erased all of Monday’s substantial losses.

Helping the market recover has been a strong start to the quarterly earnings season. According to data from Refinitiv, 15% of the S&P 500 companies have reported earnings to date, with 88% beating earnings estimates.

Texas Instruments (NASDAQ:TXN) reported a positive second quarter late Wednesday, helped by a more than 40% rise in revenue, but the chipmaker’s stock is seen falling sharply Thursday amid concerns that demand for silicon chips is peaking.

Dow (NYSE:DOW) stock is seen higher premarket after the chemicals company said its second-quarter profit doubled from the prior period, helped by strong consumer and industrial demand as the economy reopened.

Reports from the likes of AT&T (NYSE:T), D.R. Horton (SA:D1HI34) and American Airlines (NASDAQ:AAL) are due before the opening bell, while Intel (NASDAQ:INTC), Twitter (NYSE:TWTR) and Snap (NYSE:SNAP) are due to offer up quarterly updates after the market closes.

Also of interest Thursday will be the release of the weekly initial jobless claims data, at 8:30 AM ET (1230 GMT). These are seen at 350,000, down just 10,000 from the previous week, amid fears that the rise in Covid cases could be slowing the recovery in the jobs market.

Elsewhere, oil prices traded higher Thursday, continuing Wednesday’s strong recovery despite a surprise build in U.S. crude stockpiles.

The crude market has been very volatile this week, plunging on Monday on worries over rising Covid cases and an agreement between top producers to add supply, before rebounding over the last two days. 

U.S. crude inventories rose by just over 2 million barrels during the week ended July 16, the Energy Information Administration said late Wednesday, snapping a run of eight weeks of declines. 

At 7 AM ET, U.S. crude futures traded 1.1% higher at $71.09 a barrel, while the Brent contract rose 1.1% to $72.96. Both contracts gained over 4% on Wednesday.

Additionally, gold futures fell 0.4% to $1,795.45/oz, while EUR/USD traded largely unchanged at 1.1790.

 

Dow Futures 90 Points Higher; Earnings Impress Ahead of Jobless Claims
 

Related Articles

Construction comeback sets Vinci on road to recovery
Construction comeback sets Vinci on road to recovery By Reuters - Jul 30, 2021

By Sarah Morland (Reuters) - France's Vinci raised its 2021 outlook on Friday, saying sales and profit margins at its energy and construction businesses should exceed pre-pandemic...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (5)
zara zaib
zara zaib Jul 22, 2021 9:26AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Shouldnt it enter the support zone of 72-75
Edmund Bloom
Edmund Bloom Jul 22, 2021 8:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Start of a decline.
CHADWICK RICHINGTON
CHADWICK RICHINGTON Jul 22, 2021 7:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The USA is the next roman empire. No economy, just a financial system in terminal decay rampant, corruption and with inflation.
Kevin Manson
Kevin Manson Jul 22, 2021 7:54AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thursday
Zaw Htet
Zaw Htet Jul 22, 2021 7:12AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
thanks
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email