Yahoo Finance Stocks- U.S. Futures Pause Ahead of Earnings, Powell Testimony
Investing.com – U.S. futures were mostly flat on Tuesday as investors paused before a flurry of earnings reports and testimony from Fed Chair Jerome Powell.
The S&P 500 futures fell five points or 0.18% to 2,791.50 as of 6:46 AM ET ( 10:46 GMT) while Dow futures decreased 27 points or 0.11% to 25,014.0. Meanwhile tech heavy Nasdaq 100 futures lost 17 points or 0.24% to 7,307.50.
On the earnings front, Goldman Sachs (NYSE:GS) is expected to release its financial results before the morning bell, along with UnitedHealth Group Incorporated (NYSE:UNH) and Progressive Corporation (NYSE:PGR). United Continental Holdings Inc (NYSE:UAL), CSX (NASDAQ:CSX) and others are expected to report after the closing bell.
Netflix (NASDAQ:NFLX) slumped 11.34% in pre-market trading after its earnings missed estimates while Johnson & Johnson (NYSE:JNJ) was down 0.38% after its second-quarter earnings came in less than expected. Facebook (NASDAQ:FB) lost 0.98% while Intel (NASDAQ:INTC) decreased 1.46%.
Elsewhere Rio Tinto (LON:RIO) rose 0.68% while Micro Focus International PLC ADR (NYSE:MFGP) jumped 1.83%.
In economic news, industrial production comes out at 9:15 AM ET (13:15 GMT).
Meanwhile Federal Reserve Chair Jerome Powell is set to deliver his semi-annual monetary policy testimony on the economy before the Senate Banking Committee at 10:00AM ET. Investors will watch closely for any clues of future rate increases, as well as the central bank’s views on trade.
In Europe stocks were down. Germany’s DAX fell 22 points or 0.18% while in France the CAC 40 decreased 19 points or 0.35% and in London, the FTSE 100 decreased 13 points or 0.18%. Meanwhile the pan-European Euro Stoxx 50 lost 16 points or 0.47% while Spain’s IBEX 35 inched down 57 points or 0.59%.
In commodities, gold futures rose 0.23% to $1,242.60 a troy ounce while crude oil futures decreased 0.15% to $66.97 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.07% to 94.20.
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