Dow Jones Industrial Average Futures Flirt With New Highs After Boeing Earnings

Traders are also awaiting the Fed's latest policy decision

Jul 26, 2017 at 9:15 AM
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Dow Jones Industrial Average (DJIA) futures are trading above fair value, with big-cap earnings in focus once again. Traders this morning will be watching Dow stock Boeing, which is set to hit a record high post-earnings -- while Facebook earnings will come out after the close. The latest Fed decision will also be released this afternoon, though the central bank is largely expected to keep interest rates unchanged. Against this backdrop, the Dow, S&P 500 Index (SPX), and the Nasdaq Composite (COMP) could all take aim at new highs in what looks to be another up day for U.S. stocks.
 
Continue reading for more on today's market, including:

stock futures today

5 Things You Need to Know Today
  
  1. The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Tuesday, compared to 657,035 put contracts. The single-session equity put/call ratio declined to 0.61, and the 21-day moving average remained at 0.62.
  2. Chipmaker Advanced Micro Devices, Inc. (NASDAQ:AMD) is rallying 9.3% in pre-market trading, after the company reported a seventh straight quarterly earnings beat and raised its full-year outlook. At $14.11, AMD stock has already doubled in value on a year-over-year basis. 
  3. iRobot Corporation (NASDAQ:IRBT) is making an even bigger move ahead of the opening bell -- adding 19% to flirt in record-high territory -- following the company's top- and bottom-line beats. It also said it's buying European distributor Robopolis SAS for $141 million in cash. The Roomba maker closed last night at $87.90, compared to its year-ago price of $38.36. Meanwhile, IRBT stock's continued rally has been rocking short sellers. 
  4. Rounding out this list of post-earnings winners, United States Steel Corporation (NYSE:X) is poised to open up 7.3%. The steel stock posted stronger-than-expected earnings and revenue, and also boosted its full-year forecast. Still, X shares were trading near $31 before their late-April bear gap. 
  5. New home sales data and the weekly crude inventories update are due. Anthem (ANTM), Corning (GLW), Ford Motor (F), NASDAQ (NDAQ), PayPal (PYPL), and Whole Foods Market (WFM) will also report earnings.

Buzz Stocks July 26

Overseas Trading

Stocks in Asia finished mostly higher, as oil prices continued to rise. In Japan, the Nikkei climbed 0.5% to close north of 20,000, as automakers rallied on upbeat Mitsubishi Motors earnings. A rebound in property stocks helped Hong Kong's Hang Seng add 0.3%, while China's Shanghai Composite tacked on 0.1%. South Korea's Kospi bucked the regional trend, shedding 0.2%.

European benchmarks are trading up at midday, as traders take a glass-half-full approach ahead of today's Fed announcement in the U.S. Positive earnings reactions are also helping lift investor sentiment, with Swiss pharma stock Lonza Group and Peugeot maker PSA Group among the names moving higher. At last check, the French CAC 40 is up 0.5%, and the German DAX has added 0.2%. London's FTSE 100 is 0.4% higher, after U.K. gross domestic product (GDP) edged up 0.3% in the second quarter -- matching the consensus estimate.

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