U.S. stock futures were up early Friday morning after strong earnings reports and upbeat economic data drove the S&P 500 Index (SPX) to a record finish. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 were up 0.08%, 0.11%, and 0.13%, respectively, at 4:46 a.m. EST on July 18.
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This follows a positive day for Wall Street. The S&P 500 jumped 0.5%, hitting a new all-time high and closing at a record. Also, the Nasdaq Composite and the Dow Jones climbed about 0.7% and 0.5%, respectively.
The broader market is on track for a positive week, supported by strong earnings and upbeat economic signals. On Thursday, major names like PepsiCo (PEP) and United Airlines (UAL) posted better-than-expected results, helping lift investor sentiment. At the same time, robust economic data also aided the market sentiment.
However, in after-hours trading, Netflix (NFLX) dipped over 1%, even after beating earnings and revenue expectations for the second quarter and raising its full-year revenue guidance.
Looking ahead, investors are turning their attention to key earnings reports scheduled for today, with 3M (MMM), American Express (AXP), Charles Schwab (SCHW), and Schlumberger (SLB) all set to announce their quarterly results.
On the economic calendar, the preliminary July reading for Consumer Sentiment will also be released. Economists surveyed by Dow Jones expect a reading of 61.8, up slightly from the previous 60.7.
Meanwhile, the U.S. 10-year Treasury yield was down, floating near 4.44%. However, WTI crude oil futures were trending higher, hovering near $67.84 per barrel as of the last check. At the same time, the Gold Spot U.S. Dollar Price rose to nearly $3,348 per ounce on Friday.
Elsewhere, European stocks opened higher for a second day as investors kept an eye on earnings, company news, and any updates on trade talks between the U.S. and the European Union.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific markets were mixed on Friday, following Wall Street’s gains driven by strong U.S. economic data and a wave of better-than-expected corporate earnings.
The Hong Kong index was up 1.33%. Furthermore, China’s Shanghai Composite and Shenzhen Component indices closed higher by 0.50% and 0.37%, respectively. However, Japan’s Nikkei and Topix indices declined 0.21% and 0.19%, respectively.
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