RTTNews - After extending a recent upward move last week, stocks are poised to open little changed on Monday as traders cautiously await the day's data on new home sales. The major index futures are currently on opposite sides of the unchanged mark, with the Dow futures down by 5 points.
Traders will look to the Commerce Department's report on new home sales for June set to be released shortly after the opening bell. Sales are expected to rise to an annual rate of 352,000 for the month compared to 342,000 reported for May. The report will be released at 10:00 a.m. ET.
In earnings news, RadioShack (RSH) reported second quarter net income of $0.39 per share, compared with net income of $0.32 per share in the same last year. The company's sales fell 2.9 percent to $965.7 million from $994.9 million in the same period last year. Wall Street analysts expected the firm to report earnings of $0.28 per share, on revenues of $977.86 million.
Verizon Communications (VZ) announced adjusted second quarter net income of $0.63 per share, compared with $0.67 per share a year earlier. Analysts anticipated the company to report earnings of $0.63 per share.
Honeywell (HON) revealed second-quarter net income of $0.60 per share, compared to $0.96 per share in the same quarter of last year. The results came in line with analyst forecasts of $0.60 per share for the quarter.
Tellabs (TLAB) and Corning (GLW) beat analysts' estimates, while Aetna (AET) fell well short. After the closing bell today, traders will look to results from Amgen (AMGN) and Manitowoc (MTW).
The major averages ended Friday's trading on opposite sides of the unchanged line, with the Nasdaq stuck in the red. While the Nasdaq slipped by 8 points to 1,966, the Dow climbed 24 points to 9,093 and the S&P 500 rose by 3 points to 979.26.
Despite the mixed performance for the session, the major averages all posted strong gains for the week. The Dow rose 4 percent for the week, while the Nasdaq and the S&P 500 posted weekly gains of 4.2 percent and 4.1 percent, respectively.
Crude oil futures are rising in early commodities trading, climbing by $0.64 to $68.69 a barrel after rising by a notable margin in the previous session. The price of gold is also moving higher, advancing by $4.30 to $957.40 an ounce.
On the currency front, the U.S. dollar is falling against the major European currencies, sliding to $1.4274 against the euro and retreating to $1.6494 versus the pound. Against the yen, the buck is on the rise and is now valued at 95.04 yen.
In overseas trading, stock markets across the Asia-Pacific region finished on the upside on Monday. While Japan's benchmark Nikkei 225 Index posted a 1.5 percent gain, Hong Kong's Hang Seng Index rose by 1.4 percent.
The major European markets are also on the rise, with the German DAX Index up 0.8 percent, while the French CAC 40 Index and the U.K.'s FTSE 100 Index are posting more modest gains, up 0.3 percent and 0.1 percent, respectively.
For comments and feedback: contact email@example.com