News Column

US stock futures climb as earnings reports roll in

July 22, 2014



NEW YORK (AP) U.S. stock futures pointed higher early Tuesday as more corporate earnings rolled in. Shares in the restaurant chain Chipotle and the cable company Comcast surged after they reported results that were better than Wall Street expected.

KEEPING SCORE: Dow Jones industrial average futures rose 53 points, or 0.3 percent, to 17,037 as of 8:40 a.m. Eastern time. Standard & Poor's 500 index futures added eight points, or 0.4 percent, to 1,974. Nasdaq 100 futures advanced 18 points, or 0.5 percent, to 3,944.

PLUGGED IN: Comcast, the country's largest cable company reported quarterly profits that topped Wall Street's targets, helped by more people signing up for Internet service. Comcast's stock gained 58 cents, or 1 percent, to $54.40 before the start of regular trading.

MORE BURRITOS: After the market closed Monday, Chipotle Mexican Grill reported stronger sales that drove its quarterly profit up 26 percent. The restaurant chain's results beat analysts' expectations, even as it hiked prices on a range of menu items. The company's stock surged $61.27, or 10 percent, to $650.41 early Tuesday.

EUROPE: Major stock markets in Europe were mostly higher Tuesday. Germany's DAX gained 0.8 percent while France's CAC-40 picked up 0.9 percent. Britain'sFTSE 100 advanced 0.8 percent.

BONDS AND OIL: Bond prices dipped in the market for U.S. Treasurys, nudging the yield on the 10-year note to 2.49 percent from 2.47 percent late Monday. Benchmark U.S. crude oil fell 11 cents to $102.75 a barrel on the New York Mercantile Exchange.


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Source: Associated Press


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