Futures point to opening declines


S&P 500 and DJIA futures are off 0.5%, Nasdaq 100 0.6% and Russell 2000 0.9%, with 51 of S&P 500 companies reporting Q2 results today, including Exxon Mobil, MasterCard, Colgate, and Time Warner.

Whole Foods, Kraft, and Yum Brands are among those who reported last night and are in the red premarket.

Europe's Stoxx 50 (NYSEARCA:FEZ) is down 0.9% and Shanghai continued to push higher, closing up 1% overnight.

The 10-year Treasury yield is flat at 2.56% and gold is flat at $1,297 per ounce.

ETFs: SPY, QQQ, SH, DIA, SSO, SDS, VOO, PSQ, IVV, SPXU, UPRO, TQQQ, VB, SPXL, QID, RSP, SQQQ, DOG, QLD, DXD, RWL, EPS, UDOW, SCHA, SDOW, DDM, BXUB, QQEW, QQQE, SPLX, SFLA, QQXT, BXUC, JKJ, FYX, SPUU

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Comments (8)
  • bbro
    , contributor
    Comments (11195) | Send Message
     
    Could this be the start of the 7% selloff??...
    31 Jul 2014, 07:27 AM Reply Like
  • Marwood Capital
    , contributor
    Comments (68) | Send Message
     
    20% at least
    31 Jul 2014, 07:33 AM Reply Like
  • bbro
    , contributor
    Comments (11195) | Send Message
     
    Current options on SPY price a 6% probability of a 20% selloff by March 20,2015...
    31 Jul 2014, 07:48 AM Reply Like
  • John Georgiou
    , contributor
    Comments (234) | Send Message
     
    TUE/FRI will be red but I dont think we will have sell off next weeks

     

    http://seekingalpha.co...

     

    and technical analysis says that August will be mixed
    31 Jul 2014, 08:10 AM Reply Like
  • Overanalytical
    , contributor
    Comments (1049) | Send Message
     
    Hold on to your a-.....I mean hats!
    31 Jul 2014, 09:17 AM Reply Like
  • DeJagen
    , contributor
    Comments (51) | Send Message
     
    Paranoia runs deep, into your mind it will creep. Some people are always afraid.....
    31 Jul 2014, 09:26 AM Reply Like
  • EK1949
    , contributor
    Comments (2516) | Send Message
     
    This might be Broken Clock day, when all the (cough) get to be right.

     

    Not that there's anything wrong with that! :-)

     

    There's something to be said for the idea that the next correction, maybe now, will accompany improvements in the real economy deemed sufficient to cause a policy shift at the Fed. That would be in line with the Keynesian beauty contest paradigm, where everyone thinks the market will go down because of what everyone thinks the Fed will do in response to improved labor market conditions, higher wages, more business spending and so on. So beliefs about what other people believe about what the Fed believes and inferences about Fed decisions all point towards the market experiencing a significant correction.

     

    Does that explain today's move? How the hell would I know? All I do is believe that other people believe that other people believe the Fed will raise interest rates sooner because they believe the economy is getting better, so people think the economy won't have support from the Fed soon, they sell stock and the market goes down. It's all very faith-y, and people will get over what bugs them and some will go bargain hunting. I'll do nothing. When the market goes back up I'll do more nothing.
    31 Jul 2014, 09:56 AM Reply Like
  • 11146471
    , contributor
    Comments (1346) | Send Message
     
    Just a technical reaction.

     

    Fundamentals are too good right now for bigger correction to happen.

     

    Earnings season was good and GDP/Employment numbers are supportive.

     

    Plus you have the FED's protective net intact.

     

    Overall a good buying opportunity.
    31 Jul 2014, 10:43 AM Reply Like
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