Dollar falls after Senate's health care bill is scuppered
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U.S. stock futures on Tuesday pointed to little change at the open, as Netflix Inc.'s earnings-driven leap was offset by drops for Harley-Davidson Inc. and Bank of America Corp. following their results.
Investors are waiting for fresh figures on import prices and the housing market, as well as taking in quarterly results from other household names such as Charles Schwab Corp.
S&P 500 futures inched down by 1.85 points, or 0.1%, to 2,456.75, while Dow Jones Industrial Average futures were flat at 21,581.00. Nasdaq-100 futures lost 7 points, or 0.1%, to 5,848.00.
On Monday, the S&P 500 and Dow finished down by less than 0.1% (http://www.marketwatch.com/story/us-stock-futures-hold-steady-as-investors-get-ready-for-big-earnings-week-2017-07-17), edging away from their all-time closing highs hit Friday. The Nasdaq Composite added less than 0.1%, creeping nearer to its June 8 record close.
The dollar (http://www.marketwatch.com/story/dollar-falls-after-senate-republicans-abandon-bill-to-replace-obamacare-2017-07-18) fell early Tuesday against its main rivals after Republican leaders in the Senate late Monday ditched their effort to repeal and simultaneously replace Obamacare (http://www.marketwatch.com/story/health-care-overhaul-seems-sunk-as-two-more-republicans-oppose-senate-bill-2017-07-17), also known as the Affordable Care Act.
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Individual movers: Shares in Netflix(NFLX) jumped ahead of the bell after the streaming giant late Monday posted larger-than-expected growth in subscribers while reporting quarterly earnings. The stock climbed 10% for the S&P 500's biggest premarket gain.
Read:Netflix hits another major milestone, stock heads for records (http://www.marketwatch.com/story/netflixs-international-focus-pays-off-with-big-milestone-stock-heads-for-records-2017-07-17)
And: It may be time to tread carefully with Netflix shares (http://www.marketwatch.com/story/its-been-a-great-ride-for-netflix-but-you-may-want-to-hop-off-here-2017-07-18)
But Harley-Davidson(HOG) fell 9% before the open for the S&P's biggest premarket loss, as the motorcycle maker's better-than-expected earnings for the second quarter were overshadowed by lowered guidance for the year (http://www.marketwatch.com/story/harley-davidson-shares-slide-5-premarket-after-company-lowers-full-year-guidance-2017-07-18).
Bank of America(BAC) gave up 0.7% premarket as the banking giant's profit and revenue topped Wall Street's estimates, but trading slumped (http://www.marketwatch.com/story/bank-of-america-trading-slumps-shares-dip-2017-07-18).
UnitedHealth Group Inc.(UNH) posted quarterly profit that beat expectations and sales that matched forecasts (http://www.marketwatch.com/story/unitedhealth-profit-rises-above-expectations-while-sales-grew-in-line-2017-07-18), while Johnson & Johnson's (JNJ) earnings beat but sales missed (http://www.marketwatch.com/story/johnson-johnson-tops-profit-estimates-but-sales-fall-short-2017-07-18).
Schwab(SCHW) , Lockheed Martin Corp.(LMT) and Goldman Sachs Group Inc.(GS) are also among the companies expected to post earnings before the open.
Economic news: A June reading on U.S. import prices is slated to hit at 8:30 a.m. Eastern Time, followed by a July figure for a home builders' index at 10 a.m. Eastern.
Check out:MarketWatch's Economic Calendar (http://www.marketwatch.com/economy-politics/calendars/economic)
Other markets:Oil futures (http://www.marketwatch.com/story/oil-prices-edge-up-recovering-a-little-from-prior-days-slump-2017-07-18) were gaining, recovering from the prior day's slump. European equities (http://www.marketwatch.com/story/european-stocks-pulled-lower-by-stronger-euro-2017-07-18) were mostly lower, while Asian markets closed mixed (http://www.marketwatch.com/story/asian-markets-fall-on-dollars-weakness-2017-07-17). Gold futures traded modestly higher.
(END) Dow Jones Newswires
July 18, 2017 07:43 ET (11:43 GMT)