US Stock Futures Suggest Higher Open Ahead Of Corporate Earnings

 
on November 22 2013 6:55 AM
Nasdaq
Construction crew work outside the Nasdaq MarketSite in New York's Times Square, Aug. 23, 2013. Reuters

Stock futures suggest yet another positive start to American markets on Friday, a day after the Dow Jones Industrial Average closed above the 16,000 level for the first time in its history, as investors awaited corporate earnings reports from such companies as Foot Locker Inc. (NYSE:FL) and PetSmart Inc. (NASDAQ: PETM).

Futures on the Dow Jones Industrial Average were up 0.09 percent, and those on the Standard & Poor's 500 Index were flat, while futures on the Nasdaq Composite Index were up 0.19 percent.

A combination of solid corporate earnings and lower-than-expected weekly U.S. initial jobless claims helped the Dow close up 0.69 percent at 16,009.99 on Thursday. The S&P 500 index ended up 0.81 percent at 1,795.85, and the Nasdaq composite rose 1.22 percent to 3,969.15.

Investors are likely on Friday to focus on quarterly earnings reports from large companies including Foot Locker Inc and PetSmart Inc., in the absence of any major economic data releases due on the day.   

In Europe, stock markets traded mixed, despite stronger-than-expected business climate data from Germany.

The Stoxx Europe 600 index was down 0.07 percent, France's CAC-40 was trading up 0.12 percent, Germany’s DAX-30 was down 0.15 percent and the FTSE was down 0.22 percent.

Asian stock markets, like most markets, traded higher on Friday. Japan’s Nikkei ended up 0.11 percent and Australia’s S&P/ASX 200 closed up 0.9 percent.

In China, Hong Kong’s Hang Seng index was up 0.49 percent, while the Shanghai Composite index ended down 0.43 percent.

South Korea’s Kospi index was up 0.62 percent, and India’s BSE Sensex closed down 0.06 percent. 

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