Before the Open (Jul 26)

Good morning. Happy Wednesday. Happy Fed Day.
The Asian/Pacific markets closed with a lean to the upside. Hong Kong, India, Australia and the Philippines did well; South Korea and Taiwan were weak. Europe, Africa and the Middle East are mostly up. Greece is down more than 1%, but the UK, Poland, France, Finland, Switzerland, Norway, Belgium, and Austria are doing well. Futures in the States point towards a moderate gap up open for the cash market.
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The dollar is up a small amount. Oil and copper are up. Gold and silver are down. Bonds are mixed.
Stock headlines from barchart.com…
There are 38 of the S&P 500 companies that already reported earnings this morning, most of which beat earnings expectations. Positive reports include Ford (F -0.18%) at $0.56, Baxter (BAX -1.02%) at 0.63, Boeing (BA +0.13%) at 2.55, State Street (STT +1.10%) at 1.67, Nasdaq (NDAQ +0.14%) at 1.02, Coca-Cola (KO +0.89%) at 0.59, Waste Management (WM +0.73%) at 0.82, and General Dynamics (GD -0.67%) at 2.45.
SPX companies this morning that underperformed the consensus include Hess (HES +2.81%) at -1.46, Six Flags (SIX +0.31%) at 0.59, Lab Corp of America (LH -0.61%) at 2.23, AO Smith (AOS -0.51%) at 0.53, and Alaska Air (ALK +0.14%) at 2.51.
AMD (AMD -0.35%) rallied 7% in after-hours trading after beating its EPS consensus
AT&T (T -0.03%) rallied 2.4% in after-hours trading after beating its EPS consensus
Wynn Resorts (WYNN +0.32%) fell -3% in after-hours trading as its EPS fell short of the consensus despite a rebound in Macau revenue
Today’s Economic Calendar
7:00 MBA Mortgage Applications
10:00 New Home Sales
10:30 EIA Petroleum Inventories
11:30 Results of $15B, 2-Year FRN Auction
1:00 PM Results of $34B, 5-Year Note Auction
2:00 PM FOMC Announcement
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY