Seeking Alpha

Stock futures waffle near record levels, overseas markets weak

  • Stock futures indicate little change at the open, as the S&P and Nasdaq look to run their winning streak to seven sessions; Dow flat, S&P -0.1%, Nasdaq -0.2%.
  • Asian markets finished mostly lower, as China's flash manufacturing PMI remained in contraction for a fourth straight month; major European bourses also are in the red.
  • Quarterly earnings since yesterday's close were mostly better than expected; Boeing, P&G, AT&T, Gilead, Yum, Dow Chemical, Delta Air, Northrop and Norfolk Southern all topped consensus EPS estimates, but premarket trading is mixed.
  • Treasurys display modest gains to start the session, with the 10-year yield down 2 bps at 2.69%.
  • Still ahead: new home sales, EIA petroleum inventories.
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