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Futures higher after strong earnings reports

Jul. 23, 2014 9:25 AM ETBy: Carl Surran, SA News Editor
  • The stock market looks to open slightly higher, as a round of strong earnings reports push the main benchmarks toward record levels; Dow +0.1%, S&P +0.2%, Nasdaq +0.3%.
  • Futures showed little reaction to news that two Ukrainian fighter jets were shot down near where the Malaysian Airlines passenger jet was downed.
  • Major European bourses trade higher across the board, while markets in Asia ended on a mostly higher note.
  • An avalanche of earnings report have been released since yesterday's close, and most have surpassed estimates; among those are Boeing, PepsiCo and Delta Air Lines.
  • Big tech earnings came late yesterday from Apple, which inched up in the premarket after earnings beat expectations, and Microsoft shares also are higher despite reporting a 7% drop in quarterly profit; also, Broadcom is indicated higher after beating estimates, while EA and Juniper are on track to open lower.
  • Treasurys enter the session on their highs, with the 10-year yield off one basis point at 2.45%.

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