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[posting]39911417[/posting]Strong Bank Earnings Buoy Futures TODAY'S MARKETS AUGUST 2, 2010, 8:02 A.M. ET Strong Bank Earnings Buoy Futures http://online.wsj.com/article/SB1000142405274870427180457540… By POLYA LESOVA U.S. stock futures rallied on Monday following strong earnings reports from HSBC Holdings and BNP Paribas, as investors awaited manufacturing data and comments on the economy from the Federal Reserve chairman. More than two hours before the start of trading, Dow Jones Industrial Average futures were 101 points higher at 10518. The S&P 500 futures advanced 12.5 points to 1110.8 and Nasdaq 100 futures gained 19.75 points to 1882. Changes in futures do not always accurately predict early market moves after the opening bell. The gains tracked strong advances in Asian and European equity markets, which were fuelled by upbeat company earnings. "European banks have reported very strong earnings, which is where futures are taking their lead from," said City Index analyst Joshua Raymond. He added that manufacturing data out of Europe and China have also been better than expected, adding to positive sentiment, with U.S. ISM manufacturing data due out later this morning. The ISM manufacturing gauge for July will be released at 10 a.m. Shortly after that, Fed Chairman Ben Bernanke will start speaking about the economy. "Markets will be highly attuned to any further hints of quantitative easing following his dovish semiannual testimony," said analysts at Action Economics. In the afternoon, Treasury Secretary Timothy Geithner will speak at New York University on the next steps for financial reform. On the corporate front, Humana and NRG Energy are scheduled to report quarterly results before the market opens. View Full Image Getty Images U.S. stock futures rallied on Monday following strong earnings reports from HSBC Holdings and BNP Paribas. Research in Motion will also be in the spotlight after the United Arab Emirates announced Sunday that it plans to block the firm's BlackBerry services starting in October because of a dispute over the way the smartphone maker handles electronic data. Asian equities ended higher, as strong earnings outweighed disappointing data from China. The HSBC China Manufacturing Purchasing Managers Index, compiled by Markit, dropped to 49.4 in July from 50.4 in June—falling below the all-important 50-point level that separates expansion from contraction. The PMI survey last showed a contraction in March 2009. European shares posted sharp gains, with the Stoxx Europe 600 index up 1.9% in intraday trading. France's CAC-40 index advanced 2.1%, as banking group BNP Paribas reported a 31% surge in second-quarter profit, beating market expectations. BNP's shares rose 3.6% in Paris trading. Banking giant HSBC Holdings PLC said its first-half net profit more than doubled to $6.76 billion, as loan impairments and other provisions fell to their lowest level since the start of the financial crisis. Shares of HSBC rallied 5.1% in London trading. In the currency markets, the dollar index, which tracks the performance of the greenback against a basket of other major currencies, edged down 0.1% to 81.456. The British pound rose 0.8% to $1.5802, while the euro was little changed at $1.3061. September crude-oil futures gained 57 cents to $79.52 a barrel in electronic trading on the New York Mercantile Exchange. Gold futures were flat at $1,182 an ounce. The Dow ended marginally lower on Friday, but gained 7.1% in July, posting its first monthly gain since April. Write to Polya Lesova at polya.lesova@dowjones.com |
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| aus der Diskussion: | Financial Select Sector SPDR (XLF) -> der Weg der US Finanzindustrie |
| Autor (Datum des Eintrages): | Ahorne (02.08.10 14:44:37) |
| Beitrag: | 8 von 21 (ID:39912868) |
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