Yahoo Finance What you need to know before the US open
US stocks futures suggest a slightly lower open today, following the recent rally the S&P 500 and Nasdaq have seen over the last few days.
Mortgage applications in the US fell 3.3 per cent last week - the eighth drop in 11 weeks - with homeowners looking to refinance existing loans, and those looking for mortgages to buy homes still lacking confidence.
US Markit data later on, following numbers for the Eurozone which hit a 35-month high of 54.0 in April, driven higher by a strong performance from powerhouse Germany’s private sector.
Corporate news
Boeing’s upped its full-year forecast after reporting a 14 per cent rise in adjusted net profit in the first quarter - above estimates. Revenue went up eight per cent to $20.47bn, but profit slipped on a non-adjusted basis by 13 per cent, to $965m.
Meanwhile, Proctor & Gamble’s inched down in pre-market trading after announcing a flat quarter, with profits at $2.6bn.
Johnson Controls saw a better-than-expected profit in the first quarter, pushed up by higher vehicle production in key markets. Sales in its automotive business went up 11 per cent to $5.62bn - more than half total revenue.
Discount broker TD Ameritrade Holding reported a near-35 per cent jump in profits in its second fiscal quarter, to $194m.
Apple and Facebook are both reporting after the stock market closes.
Data in focus
• 2.45pm: US April Markit manufacturing PMI
• 3.00pm: US March new home sales
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