Futures Pointed Lower Ahead of Personal Income and Spending Data for June
Futures are pointed towards a lower open Friday morning ahead of new economic data. Personal spending for June is expected to have risen 0.7% after staying flat in May while personal income estimates are for a 0.6% decrease last month following May’s 2.0% slide. Additionally, economists are expecting a 0.7% increase in PCE prices last month, a jump from the 0.4% growth the previous month. Shares of Amazon (AMZN) are lower during premarket trading after the company’s quarterly report disappointed investors. The Dow Jones is down -0.38%, the S&P is down -0.75%, the Nasdaq is down -1.18%.
Quote of the Day
Just remember, you can’t climb the ladder of success with your hands in your pockets
Stocks on the Move
Upgrades & Downgrades
- Albany International Corp. (AIN)
- Alexander & Baldwin Inc (Hawaii) (ALEX)
- Nokia Oyj (NOK)
- Gentherm Inc (THRM)
- KLA Corp (KLAC)
- T-Mobile Us Inc (TMUS)
- Agios Pharmaceuticals Inc (AGIO)
- Axcella Health Inc (AXLA)
- Proofpoint Inc (PFPT)
- Pinterest Inc (PINS)
- Citrix Systems, Inc. (CTXS)
- Orion Group Holdings Inc (ORN)
Stocks in Asia are down. The Nikkei 225 is down -1.8%, the Hang Seng is down -1.35%, the Shanghai SE Composite Index is down -0.42% the Australia ASX All Ordinaries is down -0.4% and the Mumbai Sensex is down -0.13%.Stocks in Europe are down. The FTSE 100 is down -0.84%, the DAX is down -0.78%, the Euro Stoxx 50 is down -0.51% and the CAC 40 is down -0.14%.
Futures & Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.11 at 73.51 per barrel. Brent crude is up 0.03 at 76.08 per barrel. Natural Gas is down -0.08 at 3.98. Precious metals are mixed this morning. Gold is up 0.29 at 1828.46 per ounce. Platinum is down -16.08 at 1047.59 while silver is down -0.19 at 26.6. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and down against the Pound.
Yesterday, 1,862,833 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 901,450 put contracts. The single-session put/call ratio was 0.48.
Today’s Economic Calendar