Before the Open (Jul 28)

Good morning. Happy Friday.
The Asian/Pacific markets are mostly down. South Korea is down nearly 2%; New Zealand and Australia are down more than 1%; Singapore, Hong Kong and Taiwan are also weak. Europe, Africa and the Middle East are mostly down. The UK, France, Turkey, Denmark, Italy, Belgium, Portugal, Austria and Sweden are down the most. Futures in the States point toward a moderate gap down open for the cash market.
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The dollar is down. Oil is up; copper is down. Gold and silver are up. Bonds are down.
Select oil stocks are the only ones that look decent right now. Otherwise I see nothing worth trading.
Stock headlines from barchart.com…
There are 13 of the S&P 500 companies that have reported earnings this morning. There were above-consensus reports from American Airlines (AAL -1.98%) of 1.92, AbbVie (ABBV -1.18%) of 1.42, Merck (MRK +3.06%) of 1.01 and Rockwell Collins (COL -0.48%) of 1.64. There were below-consensus reports from CMS Energy (CMS +0.77%) of 0.33, Ventas (VTR -0.98%) of 1.05.
Amazon.com (AMZN -0.65%) is down -3% in pre-market trading due to a disappointing earnings report late Thursday
Starbucks (SBUX +2.69%) fell -3% in after-hours trading Thursday after its Q3 comparable sales disappointed.
Expedia (EXPE -1.71%) rallied +3% in after hours trading on an earnings beat due to higher revenue from home rentals.
First Solar (FSLR -1.39%) is up 10% in pre-market trading after positive EPS and guidance
Baidu (BIDU -0.08%) rallied 6% in after-hours trading after its revenue topped forecasts
Thursday’s Key Earnings
Altria (NYSE:MO) +3.1% with a boost from smokeless tobacco.
Amazon (AMZN) -2.6% AH with a drop in quarterly income.
Baidu (NASDAQ:BIDU) +3.7% AH posting double-digit gains.
Bristol-Myers (NYSE:BMY) -3.1% following in-line earnings.
Celgene (NASDAQ:CELG) -2.6% despite topping forecasts.
ConocoPhillips (NYSE:COP) +2.2% returning to an underlying profit.
Dow Chemical (NYSE:DOW) +0.2% as worldwide prices picked up.
Intel (NASDAQ:INTC) +1.2% AH lifting its profit outlook.
MasterCard (NYSE:MA) -1.6% despite impressive volume growth.
Procter & Gamble (NYSE:PG) +1.6% improving operating margins.
Starbucks (NASDAQ:SBUX) -5.6% AH closing all Teavana stores.
Twitter (NYSE:TWTR) -14.1% losing monthly users in the U.S.
UPS (NYSE:UPS) -4% on soft outlook for rest of 2017.
Verizon (VZ) +7.7% announcing subscriber additions.
Today’s Economic Calendar
8:30 GDP Q2
8:30 Employment Cost Index
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY