Stock futures are quiet following a volatile stretch
Dow Jones Industrial Average (DJI) futures are trading cautiously above fair this morning, following a volatile stretch for the blue-chip index that saw six triple-digit closes in the last eight days. Yesterday's U.S.-China trade optimism has dimmed, and instead investors are digesting a mixed quarterly report from trade-sensitive Home Depot (HD). While second-quarter earnings beat expectations, revenue fell just short of the consensus estimate. Plus, the company lowered its full-year sales guidance on uncertainty of the potential impact surrounding proposed tariffs on Chinese goods. HD stock is up 2.3% ahead of the bell.
Continue reading for more on today's market, including:
What this sector standout says about recession risk, courtesy of Senior Market Strategist Matthew Timpane.2 semiconductor stocks Raymond James is buying.A bull note boosted options activity on this booming gene therapy stock. Plus, new Apple TV+ details; Beyond Meat gets a big upgrade; and Sarepta's DMD drug rejected.
There's not much on the economic calendar today, but a flurry of retailers will throw their hat into the earnings ring, including Kohl's (KSS), TJX Companies (TJX), and Urban Outfitters (URBN), while homebuilder Toll Brothers (TOL) will also release its quarterly results.
It was a mixed finish in Asia today. Stocks in Seoul outperformed on semiconductor strength, with South Korea's Kospi gaining 1%. Japan's Nikkei also ended on the plus side, adding 0.6%. Meanwhile, China's Shanghai Composite eased back 0.1%, and Hong Kong's Hang Seng fell 0.2%.
It's a quiet day of trading in Europe. Investors are keeping a close eye on political turmoil in Italy, where Deputy Prime Minister Matteo Salvini is once again pushing for a new election. At last check, the German DAX is 0.09% lower, the French CAC 40 is fractionally higher, and London's FTSE 100 is up 0.2% on as AstraZeneca pops on upbeat drug data.