Trading in the U.S. futures index suggests that Wall Street stocks might open higher on Monday. The pending home sales index is the major announcement in economic sector today. The market is closely watching commodity movements and the geo-political developments across the globe. Asian stocks closed mostly higher, while European shares are trading in the green territory.
As of 6.30 am ET, the Dow futures were adding 43 points, the S&P 500 futures were progressing 2.25 points and the Nasdaq 100 futures were up 11 points.
U.S. stocks closed mixed on Friday. The Dow rose 33.76 points or 0.2 percent to a new record closing high of 21,830.31, the Nasdaq edged down 7.51 points or 0.1 percent to 6,374.68 and the S&P 500 slipped 3.32 points or 0.1 percent to 2,472.10.
On the economic front, the Institute For Supply Management – Chicago’s Purchase Managers’ Index for July will be released at 9.45 am ET. The economist are looking for consensus of 62.0, down from 65.7 last month.
The Pending Home Sales Index for June will be issued at 10.00 am ET. The consensus is for a growth of 0.9 percent, compared to a decline of 0.8 percent in the previous month.
Dallas Fed Manufacturing Survey for July will be published at 10.30 am ET. The General Activity index is 13.8, down from 15.00 a month ago. In the previous period production index was 12.3.
The Agriculture Department’s Farm Prices for June is expected at 3.00 pm ET. The prior month Farm prices grew 2.1 percent.
In the corporate segment, Laboratory Corporation of America Holdings (LH) said that it agreed to buy Chiltern for about $1.2 billion in cash. Excluding one-time costs relating to the transaction and with the benefit of cost synergies, the company expects it to be accretive to adjusted earnings per share and free cash flow in year one, and to earn its cost of capital by year three.
Shares of Sanofi SA (SNYNF, SNY) said it now expects 2017 business earnings per share to be broadly stable at CER, while it previously expected business earnings per share to be stable to negative 3 percent at constant exchange rates. For the second quarter, IFRS net income attributable to equity holders of the company declined 10.4 percent to 1.04 billion euros from last year’s 1.16 billion euros. IFRS earnings per share fell 8.9 percent to 0.82 euro from 0.90 euro last year. Net sales for the quarter increased 6.4 percent to 8.66 billion euros from last year’s 8.14 billion euros.
Asian stocks finished mostly higher on Monday….