Before the Open (Jul 25)

Good morning. Happy Tuesday.
The Asian/Pacific markets closed mixed. New Zealand, Australia and Singapore did well; South Korea, Japan, China and Hong Kong posted losses. Europe, Africa and the Middle East are currently mostly up. France, Spain, Italy, Belgium and Austria are up more than 1%; Germany, Denmark, South Africa, the Czech Republic and the UK are also doing well. Greece, Russia, Finland and Switzerland are weak. Futures in the States point towards a moderate gap up open for the cash market.
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The dollar is down. Oil and copper are up. Gold and silver are down. Bonds are down.
It’s all about earnings right now. Longer term swing traders can be held into earnings if they working out well – you have to hold or else you’ll never nail big, multi-month moves. But shorter term traders should not be held.
FOMC meeting tomorrow.
Stock headlines from barchart.com…
Alphabet (GOOG +0.76%) fell 3% in after-hours trading on Monday after its sales figure was in line with expectations but showed rising costs.
Companies reporting this morning that beat the consensus include: du Pont (DD -0.22%) at $1.38, Eli Lilly (LLY +0.09%) at 1.11, PulteGroup (PHM +0.45%) at 0.47, Biogen (BIIB +0.63%) at 5.04, United Technologies (UTX -0.29%) at 1.85, T Rowe Price (TROW +0.33%) at 1.34.
Companies reporting this morning that underperformed the consensus include Pentair (PNR -0.29%) at 1.00, Interpublic Group (IPG +0.24%) of 0.27, 3M (MMM -0.55%) of 2.09, and Kimberley-Clark (KMB -1.17%) of 1.49.
Caterpillar (CAT) this morning reported EPS of $1.49 that beat the 1.25 consensus. CAT also raised its 2017 guidance due to “increased demand across many end markets and disciplined cost control,” according to management.
Anadarko Petroleum (APC +0.34%) fell -3.7% in after-hours trading on some guidance disappointment.
Swift Transporation (SWFT +0.16%) rallied +1.2% in after-hours trading after beating its EPS consensus.
Woodward Inc (WWD +0.48%) rallied +1.5% in after-hours trading after beating its revenue consensus.
Sanmina Corp (SANM +2.17%) fell 9% in after-hours trading after disappointing guidance.
Core Labs (CLB +0.58%) fell -5% in after-hours trading due to disappointing Q3 EPS guidance.
Monday’s Key Earnings
Anadarko Petroleum (NYSE:APC) -4% AH after missing expectations, capex cut.
Celanese (NYSE:CE) +0.5% on earnings beat.
Core Laboratories (NYSE:CLB) -6.1% AH on disappointing Q3 outlook.
CryoLife (NYSE:CRY) -4.6% AH on Q3 outlook.
Alphabet (NASDAQ:GOOG) -2.6% AH on EU fine impact.
Today’s Economic Calendar
FOMC meeting begins
8:55 Redbook Chain Store Sales
9:00 FHFA House Price Index
9:00 S&P Corelogic Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index
1:00 PM Results of $26B, 2-Year Note Auction
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY