Tesla's stock jumps premarket following quarterly results
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U.S. stock futures on Thursday pointed to a dip at the open, meaning the Dow Jones Industrial Average could edge back under 20,000 just one day after topping that level for the first time.
Investors are taking in another round of quarterly results, with Kellogg Co.(K) and Tesla Inc.(TSLA) among the notable names set for earnings-driven moves. Fresh readings on jobless claims, factory orders and a non-manufacturing gauge are also likely to get some attention.
Dow Jones Industrial Average futures gave up 13 points, or 0.1%, to 21,944.00, while S&P 500 futures shed 2.50 points, or 0.1%, to 2,471.00. Nasdaq-100 futures lost 2.50 points, or less than 0.1%, to 5,908.25.
On Wednesday, the Dow rose by 52.32 points (http://www.marketwatch.com/story/apple-rally-signals-dow-22000-at-the-open-nasdaq-to-surge-2017-08-02), or 0.2%, to an all-time closing high of 22,016.24, while the S&P and Nasdaq Composite finished roughly unchanged.
Check out:All of the important Dow milestones in one chart (http://www.marketwatch.com/story/all-of-the-important-dow-milestones-in-one-chart-2016-12-28)
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And see:How each Dow stock contributed to the 22,000 milestone (http://www.marketwatch.com/story/how-each-dow-stock-contributed-to-the-22000-milestone-2017-08-02)
Individual movers: Shares in Tesla traded 6% higher in premarket action after the maker of electric cars posted a smaller-than-anticipated quarterly loss (http://www.marketwatch.com/story/tesla-shares-up-4-after-narrower-than-expected-quarterly-loss-2017-08-02) late Wednesday.
Read more:Tesla is a big public company, and Elon Musk must start acting like it (http://www.marketwatch.com/story/tesla-is-a-large-public-company-and-elon-musk-must-start-acting-like-it-2017-08-02)
American International Group Inc.(AIG) also looks on pace for an up day after the insurer's quarterly profit beat forecasts late Wednesday (http://www.marketwatch.com/story/aigs-stock-rallies-after-profit-beat-2017-08-02).
Frosted Flakes producer Kellogg, health insurer Aetna Inc.(AET) , satellite-TV provider Dish Network Corp.(DISH) , drug maker Allergan PLC(AGN) , cleaning-products giant Clorox Co.(CLX) and fast-food heavyweight Yum Brands Inc.(YUM) are among the companies on the earnings docket before the open.
See:Kraft Heinz earnings -- have revenue estimates fallen enough to be beatable? (http://www.marketwatch.com/story/kraft-heinz-earnings-have-revenue-estimates-fallen-enough-to-be-beatable-2017-08-01)
Other markets:The British pound (http://www.marketwatch.com/story/pound-climbs-as-traders-wait-for-boes-super-thursday-2017-08-03) edged higher as traders braced for the Bank of England's "Super Thursday," which brings releases covering key topics such as inflation and interest rates. A key dollar index was slightly up.
See:Confusion reigns for investors ahead of Bank of England's 'Super Thursday' (http://www.marketwatch.com/story/confusion-reigns-for-investors-ahead-of-bank-of-englands-super-thursday-2017-08-01)
Oil futures (http://www.marketwatch.com/story/oil-prices-pull-back-but-investors-stay-bullish-on-us-data-2017-08-03) traded higher, while gold futures pulled back. European stocks (http://www.marketwatch.com/story/european-stocks-wrestled-lower-with-siemens-shares-down-2017-08-03) dipped, while Asian markets closed lower (http://www.marketwatch.com/story/kospi-slides-erasing-weeks-gains-as-asian-markets-pull-back-2017-08-02).
Economic news: A report on weekly jobless claims is slated to hit at 8:30 a.m. Eastern Time, with economists polled by MarketWatch forecasting 244,000 claims. A high-profile release (http://www.marketwatch.com/story/ignoring-washington-chaos-companies-likely-kept-up-strong-hiring-in-july-2017-07-30) on the job market is due Friday -- the U.S. government's monthly data on nonfarm payrolls.
Check out:MarketWatch's Economic Calendar (http://www.marketwatch.com/economy-politics/calendars/economic)
The July figure for Markit's purchasing managers' index for services is due at 9:45 a.m. Eastern. Then 15 minutes later, ISM's non-manufacturing index for the same month is expected, along with June data on factory orders. Economists anticipate a reading of 56.9% for the ISM gauge and 2.9% growth in factory orders.
(END) Dow Jones Newswires
August 03, 2017 05:36 ET (09:36 GMT)