Tesla's stock jumps premarket following quarterly results
U.S. stock futures on Thursday pointed to a muted open, setting the Dow average up for a fight to stay above 20,000 -- just one day after it topped that level for the first time.
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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 6 points, or less than 0.1%, to 21,951.00, while S&P 500 futures shed 1.25 points, or about 0.1%, to 2,472.25. Nasdaq-100 futures added 4.25 points, or 0.1%, to 5,915.00.
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)
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:Tesla cheered as results beat, but Wall Street braces for capital raise (http://www.marketwatch.com/story/tesla-cheered-as-results-beat-forecasts-but-wall-street-braces-for-another-capital-raise-2017-08-03)
And see: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).
Ahead of the opening bell, satellite-TV provider Dish Network Corp.(DISH) posted a sharp drop in quarterly earnings and weaker-than-expected revenue (http://www.marketwatch.com/story/dish-networks-profit-falls-sharply-and-revenue-misses-expectations-2017-08-03), while cleaning-products giant Clorox Co.'s (CLX) profit topped expectations (http://www.marketwatch.com/story/clorox-profit-rises-above-expectations-while-sales-growth-matches-2017-08-03), as its sales matched views.
Frosted Flakes producer Kellogg, health insurer Aetna Inc.(AET) , drug maker Allergan PLC(AGN) , and fast-food heavyweight Yum Brands Inc.(YUM) are also 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) lost ground as traders reacted to the Bank of England's "Super Thursday" releases. The U.K. central bank's Monetary Policy Committee voted to keep its key interest rate (http://www.marketwatch.com/story/bank-of-england-holds-key-rate-at-025-in-6-2-vote-pound-drops-2017-08-03) at 0.25% in a 6-2 vote. The ICE U.S Dollar Index was up modestly.
Oil futures (http://www.marketwatch.com/story/oil-prices-pull-back-but-investors-stay-bullish-on-us-data-2017-08-03) were little changed, while gold futures pulled back. European stocks (http://www.marketwatch.com/story/european-stocks-wrestled-lower-with-siemens-shares-down-2017-08-03) were mixed, 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 07:17 ET (11:17 GMT)