GM, GE, KO: Earnings Bonanza

U.S. stock futures are relatively flat in the premarket after the S&P 500 and Nasdaq-100 settled at new all-time highs on Monday. Positive earnings have extended the recent gains and a falling dollar and lower yields have lent support to the equity rally.

Investor focus today will be on earnings. Reports are due from General Motors (GM), General Electric (GE), and Coca-Cola (KO) this morning, among other companies.

Morning Movers

Snapshot (as of 6:30 AM ET)

  • Oil (/CL) – Oil prices are down 1.0% near $65.00 a barrel, its 3rd straight day of losses, on concerns the brewing trade war between major crude consumers the U.S. and the E.U. will curb fuel demand growth by reducing economic activity.

  • Gold (/GC) Gold prices are down 0.3% near $3397 as investors booked profits after prices scaled to a five-week high yesterday, while market participants focused on trade talks ahead of U.S. President Donald Trump’s August 1 deadline.

  • Bitcoin (/BTC)The Crypto Future is up 2% near $119K in the premarket.

  • VIX The CBOE Volatility Index rose 1.5% on Monday and settled at 16.65 as stocks fell off of session highs in the afternoon.

  • U.S. Dollar (/DX) – The dollar is flat at 97.6.

Biggest Premarket Movers

Symbol

Product

Mark % Change (as of 6:30 AM ET)

IQV

Iqvia

+8.01%

HES

Hess

+7.58%

DHI

DR Horton

+7.07%

LMT

Lockheed Martin

-8.15%

NXPI

NXP Semiconductors

-6.25%

RTX

RTX

-3.66%

Economic Data

Time

Event

8:30AM ET

Fed’s Powell Speaks

10:00AM ET

Richmond Fed Mfg. Index

1:00PM ET

Fed’s Bowman Speaks

Notable Earnings

Premarket

Postmarket

Premarket Tomorrow

Postmarket Tomorrow

AVY, KO, DHI, DHR, EFX, GM, GPC, HAL, IPG, IVZ, KEY, LMT, NOC, PCAR, PNR, PM, PHM, DGX, RTX, SHW, SPWR, SYF, THC, VMI

BKR, CNI, COF, CB, CSGP, ENPH, EQT, ISRG, MTDR, PEGA, RRC, SAP, TXN

T, BSX, CME, EQNR, FI, FCX, GEV, GD, HAS, HLT, INFY, LW, LII, MCO, NEE, NTRS, OTIS, RCI, TMO, TMHC, TNL

ALK, GOOGL, CMG, CCI, CSX, IBM, KNX, MAT, MTH, MOH, ORLY, PKG, QS, ROL, NOW, SON, TMUS, TSLA, URI, WH

Upgrades/Downgrades

  • Keybanc upgrades Cleveland-Cliffs (CLF) to Overweight from Sector Weight

  • William Blair upgrades Booz Allen Hamilton (BAH) to Outperform from Market Perform

  • Baird upgrades STMicroelectronics (STM) to Outperform from Neutral

  • Phillip Securities downgrades Netflix (NFLX) to Sell from Neutral

  • Compass Point downgrades Circle (CRCL) to Sell from Neutral

  • JPMorgan downgrades Lululemon (LULU) to Neutral from Overweight

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