US pre-open: Futures in the red ahead of tech earnings
By Iain Gilbert
Date: Tuesday 27 Jul 2021
(Sharecast News) - Wall Street futures were in the red ahead of the opening bell on Tuesday as market participants prepped for earnings from some of the nation's biggest tech firms after the close.
As of 1215 BST, Dow Jones futures were down 0.22%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.14% and 0.01% lower, respectively.
The Dow Jones closed 82.76 points higher on Monday, the first day of a tech-heavy week on the earnings front.
Corporate results were set to be the primary focus of the session yet again, with several of the US' biggest names reporting throughout the course of the day.
3M increased its full-year earnings outlook after topping second-quarter estimates, while General Electric also came in at the higher end of second-quarter forecasts.
Stanley Black & Decker raised its full-year earnings outlook on the back of a second-quarter adjusted earnings beat, while UPS beat revenue estimates as online shipments remained steady throughout the quarter.
Tesla shares were in the green in pre-market trading after posting better-than-expected second-quarter earnings overnight, with quarterly net income exceeding $1.0bn for the first time.
Still to come, Raytheon and JetBlue will update on trading before the open, while Alphabet, Apple, AMD, Starbucks, Chubb, Microsoft and Visa will all publish their latest quarterly earnings after the close.
On the macro front, June's durable goods orders numbers will be released at 1330 BST, while May's house price index will be published at 1400 BST and the Conference Board's July consumer confidence figures and the Richmond Fed's July manufacturing index were both slated for release at 1500 BST.
The Federal Reserve's two-day policy meeting will also kick off on Tuesday, with investors awaiting insights into the central bank's monetary policy.
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