RTTNews - After a strong outing across the board in the previous session, stocks are poised to open showing little change Friday morning. The lack of conviction comes amid a string of mixed earnings reports and as traders wait the latest reading on consumer sentiment. The major index futures are currently on opposite sides of the unchanged mark by slim margins.
On the earnings front, American Express (AXP) reported adjusted second quarter net income of $0.27, edging out Wall Street expectations of $0.26 per share. At the same time, revenues for the quarter fell short of analyst estimates.
Microsoft Corp. (MSFT) revealed fourth quarter net income of $0.34 per share, compared to $0.46 per share in the same quarter of last year. The software giant said revenue for the quarter fell 17 percent to $13.1 billion, coming in below analyst estimates of $14.37 billion.
Separately, Amazon.com (AMZN) said that its net income for the second quarter fell to $0.32 per share from $0.37 per share in the year-ago quarter. The results came in-line with analyst forecasts, and although revenues rose by 14 percent, the quarterly sales failed to meet estimates.
Black & Decker (BDK) is moving higher in pre-market-market trading after the power tool manufacturer reported second quarter earnings that crushed estimates and raised its full year guidance. Oilfield services provider Schlumberger (SLB) reported adjusted second quarter earnings and revenues that beat estimates.
Later this morning, the spotlight will be cast on the latest reading on consumer sentiment from Reuters and the University of Michigan. While the index is expected to be revised up to 65 from the mid-month reading of 64.6, it would remain below June's 70.8. The data is scheduled to be released at 9:55 a.m. ET.
After a modest upward move at the opening bell on Thursday, stocks staged a substantial rally following an encouraging report on existing home sales. The Dow closed up by 188 points at 9,069, the Nasdaq advanced by 47 points to 1,973 and the S&P 500 rose by 22 points to 976.
Crude oil futures are sliding in early commodities trading, falling by $0.31 to $66.85 a barrel after rising by a notable margin in the previous session. The price of gold is also moving lower, sliding by $2.80 to $952.0 an ounce.
On the currency front, the U.S. dollar is mixed against the major European currencies, falling to $1.4217 against the euro but rising to $1.6414 versus the pound. Against the yen, the buck is sliding and is now valued at 94.87 yen.
In overseas trading, stock markets across the Asia-Pacific region finished on the upside on Friday. While Japan's benchmark Nikkei 225 Index posted a 1.6 percent gain, Hong Kong's Hang Seng Index rose by 0.8 percent.
Meanwhile, the major European markets are currently mixed after moving notably higher earlier in the session. The German DAX Index is edging down 0.1 percent, while the French CAC 40 Index and the U.K.'s FTSE 100 Index remain up 0.2 percent and 0.5 percent, respectively.
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