US Futures: tentative rebound - Watch NFLX, BLK, JBHT, PPG

,

The S&P 500 Futures are posting a slight rebound after they closed in negative territory yesterday

Trader 1

The S&P 500 Futures are posting a slight rebound after they closed in negative territory yesterday.

Later today, the U.S. Commerce Department will report June housing starts (1.18 million units expected) and building permits (1.29 million units expected). The University of Michigan will publish its Consumer Sentiment Index for July (79.0 expected). 

European indices are searching for a trend as a 2-day meeting on European 750 billion euros recovery fund is starting today. The European Commission has posted final readings of June CPI at +0.3% on year, as expected.

Asian indices closed in the green except the Japanese Nikkei which closed slightly in the red.

WTI Crude Oil futures remain under pressure. Saudi Arabia's energy minister Abdulaziz bin Salman Al Saud said the OPEC+ deal will continue until April 2022 and may extend further if necessary, according to Saudi's media Arabiya TV.

Gold is consolidating after a three-session rally.

USD is posting a rebound on renewed tensions between the U.S. and China.
EUR/USD declined 19pips to 1.1393 the day's range was 1.1386 - 1.1419 compared to 1.1391 - 1.1452 the previous session.

U.S. Equity Snapshot

Netflix (NFLX), the video streaming service, is heavily under pressure before hours after reporting second quarter EPS of 1.59 dollar, below the estimate, up from 0.60 dollar a year ago on revenue of 6.1 billion dollars, slightly above the consensus, up from 4.9 billion dollars in the previous year. The Co also anticipates lower than expected new subscriber recruitment in the third quarter.


Source: TradingView, Gain Capital

BlackRock (BLK), the largest public investment management firm in the world, is up in the premarket after disclosing second quarter EPS of 7.85 dollars, better than expected, up 22.5% from the same period last year on revenue of 3.65 billion dollars, ahead of the consensus, up 3.7% from last year.

J.B. Hunt Transport Services (JBHT), a North American logistics company, disclosed second quarter EPS of 1.14 dollar, better than expected, down from 1.37 dollar a year ago on revenue of 2.1 billion dollars, ahead of the consensus, down from 2.3 billion dollars last year.

PPG Industries (PPG), a producer of paints and coatings, reported second quarter adjusted EPS of 0.99 dollar, beating the estimate, down from 1.85 dollar a year ago on net sales of 3.0 billion dollars, above the forecast, down from 4.0 billion dollars in the prior year. 


More from Equities

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.